The first thing that comes to anyone’s mind is the source behind bitcoin. Who owns it? The answer is simple, that is similar for any open-source software, nobody, and everybody. Because there is no central agency backing-up bitcoin, it has become the epitome of decentralization. To make things clearer, the “banks” backing-up bitcoins are essentially the members of bitcoin system-You and I. Moreover, bitcoins are not pegged with precious metals like gold or silver in order to determine its value. Bitcoins take us back to the rules of free-markets where its value is determined by its popularity, demand and supply. Thus, the bitcoin system in the truest sense lionizes the system of laissez-faire that was propounded centuries ago and is still championed by many.