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What the heck is a bitcoin? For those who haven't been following the saga of the cryptocurrency, bitcoin is Internet currency that was created in 2009. There are several marketplaces also called "bitcoin exchanges" that allow people to buy or sell bitcoin using different currency. Why would you want Internet money?

It allows for anonymous buying. Since bitcoin is stored on computers or in the cloud, users can spend and hoard bitcoin anonymously. One man accidentally threw away a hard drive containing $9 million worth. Though, some have bought bitcoin hoping it'll gain in value over time.