What is bitcoin?

Bitcoin is a decentralized digital currency that was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. It operates on a technology called blockchain, which is a distributed ledger that records all transactions across a network of computers. Unlike traditional currencies, Bitcoin is not controlled by any government or financial institution.

Key characteristics of Bitcoin include:

  • Limited Supply: There will only ever be 21 million bitcoins in existence.
  • Anonymity: Bitcoin transactions can be conducted with a certain level of privacy.
  • Decentralization: Bitcoin operates on a peer-to-peer network without the need for intermediaries.

Bitcoin has gained popularity as a digital asset and a potential alternative investment.

Last updated 10/21/2023, 4:39:25 AM

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