Bitcoin, a purely peer-to-peer version of electronic money would allow online payments to be sent directly from one party to another without going through a financial institution". it is the result of modern collective learning, which challenges the traditional centralized economic system. The development of Bitcoin reflects an Internet-based collective learning community model. And the system on which Bitcoin operates, the peer-to-peer network, is the modern version of collective work. Bitcoin is a multi-field product, electronic but indirectly based on silicon and shows advances in computer science, mathematics and cryptology. We control things around us right now, lights, circuits, smartphones, calculators and Mac Air I'm using it right now. All of these things contain circuits and chips, which have millions of transistors. All these transistors require a semiconductor, which is made of silicon. (CUB “Silicon”) Silicon is one of the most important elements in the modern world. Supports modern electric power and information exchange system. Silicon is number 14 in the periodic table, it is the second most abundant element on earth, "It makes up about 28% of the earth's crust and oxygen, the most abundant element, makes up about 47%."(CUB "Silicon ") Together they are silicon dioxide, quartz and sand, which is very common. Chemists have found new elements in quartz many times, but they never realized that until 1824 a Swedish chemist, Jöns Jakob Berzelius, purified it and gave it its name. People at that time debated whether silicon was a metal or a nonmetal. “Berzelius believed it was a metal, while Humphry Davy thought it was a non-metal. The problem was that the new element was a better conductor of electricity than non-metals…… middle of paper……p.: World Book, 2014. N. pag. Print.Lee, Tim Berners. Weave the network. New York: HarperCollins, 1999. Print.M. Leiner, Barry Mx "A Brief History of the Internet." Internet company. Np, nd Web. April 3, 2014.Nakamoto, Satoshi. “Bitcoin: A Peer-to-Peer Electronic Cash System.” Bitcoin. Np, nd Web. 3 April 2014. “P2P.” Encyclopedia Britannica. Encyclopedia Britannica Online academic edition. Np: Encyclopædia Britannica Inc, 2014. Page no. Print.Robson, Eleanor. Mathematics in ancient Iraq: a social history. Princeton: UP Press, 2008. Print.Schlager, Neil and Josh Lauer. "The history, development and importance of personal computers." Science and its times 7 (2001): n. page Print."Silicon." Chemicool periodic table. Np: np, 2012. Chemicool Periodic Table. Network. April 20. 2014. .