What is Bitcoin?
 

What exactly is bitcoin?

How can we earn money through it?

Please guide.

Bitcoin is a peer-to-peer payment system and digital currency introduced as open source software in 2009 by pseudonymous developer Satoshi Nakamoto.

check on wikipedia....

Check out this guide to buying and selling bitcoin

But, How can we convert Bitcoin to Physical Currency like US Dollar or British Pound?

Is it possible or not?

Yes it's possible, through an exchange like CoinBase.com (Good company to get started, you can even setup an ecommerce store to accept it) or btc-e.com for example. You can also find local bitcoin brokers in your area at localbitcoins.com

It has been considered as a legal currency in US-.

There's a really good video on Bitcoin on YouTube by "weusecoin."

They just launched a new altcoin: Potcoin!

Our site converts extremely well, is easy to make money with, and does pretty nicely even with non-bitcoin traffic, adult traffic, etc. :)

future :)

well The US economy could only benefit at its current state...

The value of Bitcoin seems to fluctuate quite a bit. Is there a way to accept it on a site, then convert directly to USD at the rate the user paid for their content with?

I think there is a way if you are using Coinbase and processor-type bitpay (I think that bitpay can easily/quickly convert it to USD at the current bitcoin rate, google it, bitpay)

its not just Bitcoin there are loads of coins, see www.cryptosextoys.com for an example of how to do crypto right!

Can you make money? Yes! But you need to know how these coins work and when to trade them and when to hold and when to convert to Litecoin etc.

(top right for the coin list)

Frankly, I don't know ANYTHING about Bitcoin. I have 2 domains in this area that are selling for $10 each, though, if anybody wants them.