The Internet was a phenomenon that got people excited in the 1990s when the Internet became public and has since evolved into a staple of our society. The evolution of the Internet has been compared to what the commerce sector may face with the growing popularity of Bitcoins and other forms of digital currencies entering the market (Tindell). Bitcoin is a digital currency created by a person masked under the pseudonym Satoshi Nakamoto (Maurer) on November 1, 2008. Bitcoin is an open source online currency system secured by peer to peer connections. With the passing of Satoshi Nakamoto, the open source code of Bitcoin was modified and maintained by the first groups of Bitcoin enthusiasts (Wallace). Bitcoin is not backed by any central authority or a commodity such as gold, but instead relies on a peer to peer network and cryptography for currency integrity (JP). This digital currency is stored in personal hardware on wallets or online wallets and, due to its highly liquid nature, can be quickly transferred to other accounts on the Internet (Grinberg). Bitcoin is a digital currency that has new characteristics that distinguish it from past attempts at digital currency and has major implications for our society, including effects on our economic, legal, business and global infrastructure. Those interested in Bitcoins can acquire them in three ways: purchase, accept as payment, or mine. Acquiring Bitcoins in any way involves installing the Bit client software and creating a wallet (Biggs). This wallet can be created online or on personal hardware with recommended backups made in case of hardware failure. Bitcoin transactions cost only a very small...... middle of paper ......ds and Wikipedia: Quantifying the relationship between Internet age phenomena. Sci. Rep.3 (2013) 3415.Maurer, Bill., Taylor C. Nelms and Lana Swartz. “When the real problem may be the money itself!” »: the practical materiality of Bitcoin, Social Semiotics, 23: 2 (2013): 261-277, DOI: 10.1080/10350330.2013.777594.Nakamoto, Satoshi. "Bitcoin: A Peer-to-Peer Electronic Cash System". Np, nd Web. February 11, 2014. P, J. “Bits and bob.” Economist. June 13, 2011: b. page. Web. April 7, 2014. Tindell, Ken. "Geeks love the Bitcoin phenomenon like they loved the Internet in 1995. .Wallace, Benjamin. "The Rise and Fall of Bitcoin." Wired. November 23, 2011: n. page. Internet. April 7. 2014. .