Bitcoin

Bitcoin

Bitcoin is a decentralized digital currency. It's the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto.

Unlike traditional currencies, Bitcoin operates without a central authority like a bank or government. Instead, it uses a technology called blockchain to secure and verify transactions. This is a public ledger that records all Bitcoin transactions. It ensures transparency and prevents double-spending.

Bitcoin transactions are processed through a peer-to-peer network, meaning they occur directly between users without intermediaries. There is a limited supply of bitcoins. There will only ever be 21 million bitcoins in existence, making it a deflationary asset.

New bitcoins are created through a process called mining, where powerful computers solve complex mathematical problems. There are still bitcoins to be mined. However there are less bitcoins to mine every day until all bitcoins are mined.

Bitcoin can be divided into smaller units called satoshis. One satoshi is 1 bitcoin devided by 100 million.


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