The Internet was a phenomenon that excited people during the 1990s when the Internet went public and has since evolved to become 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 Bitcoin and other forms of digital currencies entering the market (Tindell). Bitcoin is a digital currency created by a person hiding 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 Bitcoin code was modified and maintained by early groups of Bitcoin enthusiasts (Wallace). Bitcoin is not backed by any central authority or a commodity like gold, but rather relies on peer to peer networking and encryption for the integrity of the currency (JP). This digital currency is stored in the personal hardware of online wallets or 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 previous digital currency attempts and has important implications on our society, including effects on our economic, legal, trade, and global infrastructures. Those interested in Bitcoin can acquire them in three ways: purchasing, accepting them as payment, or mining. Acquiring Bitcoin 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 taken in case of hardware failure. Bitcoin transactions cost only a small... half the paper ......ds and Wikipedia: Quantifying the Relationship Between Phenomena of the Internet Age. Sci. Rep. 3 (2013) 3415.Maurer, Bill., Taylor C. Nelms, and Lana Swartz. “When perhaps the real problem is 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. 11 February 2014.P, J. “Bits and bob.” Economist. 13 June 2011: n. 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: page no. Network. April 7. 2014. .