  In this paper we discuss Bitcoin, the leader among the existing
cryptocurrencies, to analyse its trends, success factors, current challenges
and probable solutions to make it even better. In the introduction section, we
discuss the history and working mechanism of Bitcoin. In the background
section, we develop the ideas that evolved in the process of making a stable
cryptocurrency. We also analyze the survey matrices of the present day
cryptocurrencies. This survey clearly shows that Bitcoin is the clear winner
among its kind. Section 3 is about the success factors of Bitcoin and the
proceeding sections are a discussion about current challenges which pose as
hurdles in making Bitcoin a better currency in the digital world. We finally
discuss the balance between anonymity and reduced trust in the cryptocurrency
world, before concluding the survey.
