I have always wondered why we have so many currencies in the world. Could there be a way to have a universal currency? And it seems I got that answer when I got to know about the ‘BitCoins'. But wait, can we consider Bitcoin ‘money'. Does it have characteristics required to qualify it as money? Well, let’s examine them. The primary characteristic of the money is that it should be acceptable to barter for goods of my use. Sure, Bitcoin is acceptable in the digital world and also in a small part of the physical world. But so is, Gold, which we don’t consider a currency, but only a commodity. The second characteristic of money is that it should be rare to produce and easier to identify in a transactional system. Bitcoin passes this test, but not gold, the value of which can only be assessed on careful, time-consuming, and also expensive examination. The third characteristic of money is that it should be divisible in smaller denominations to be used as a medium of exchange for good...