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Bitcoin is a peer-to-peer payment Long Term Online Earning Method system and digital currency that is created through mining on either a CPU or GPU in which the computer will solve complex mathematical problems and algorithms in order to mine a block. Bitcoin uses software known as wallets in which through the decentralized system of Bitcoin your coins and not counted but tallied, meaning instead of a centralized system checking you for a valid number of coins it will view all your transactions (as they’re public) and will use these to determine how many Bitcoins you actually have. Now you ask why is this information even relevant to speculation? Well, I will tell you. This is a philosophical statement, it will and cannot be ever used as valid currency due to it’s inherent problems.