Cryptocurrency bitcoin as a substitution for traditional money

This article considers Bitcoin cryptocurrency as a possible alternative to traditional currencies such as ruble, dollar, euro. The “blockchain” system is described and the question of ideal accounting is answered. It is shown that Bitcoin is a significant financial instrument which has many advantages over traditional fiat money. However, it is necessary to keep in mind the shortcomings of Bitcoin. Currently, Bitcoin will not be able to replace fiat money for states and become a full substitute for traditional currencies, as many technical and organizational problems still need to be solved.