What is Bitcoin?

Bitcoin is the world's first decentralized cryptocurrency that enables direct value transfer between users without intermediaries like banks.

Bitcoin (BTC) is a decentralized digital currency invented in 2008 by an unknown person or group using the pseudonym Satoshi Nakamoto. The network launched in 2009.

Bitcoin operates on blockchain technology—a public ledger of all transactions. Network security is maintained by miners through the Proof-of-Work (PoW) consensus mechanism. Bitcoin's supply is strictly limited to 21 million coins, making it a deflationary asset often called 'digital gold'.

Key features: decentralization (no single governing authority), censorship resistance, pseudonymity, transaction irreversibility.

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Imagine digital money that doesn't belong to any bank or country. You can send it to anyone on the planet within minutes, and nobody can stop you or freeze your account.

❓ Frequently Asked Questions

Who created Bitcoin?

Bitcoin was created by a developer (or group) under the pseudonym Satoshi Nakamoto. Their real identity remains unknown to this day.

How many bitcoins will ever exist?

The maximum supply of Bitcoin is 21 million coins. The last bitcoin will be mined approximately in the year 2140.

How to buy Bitcoin?

You can buy Bitcoin on cryptocurrency exchanges like Coinbase, Binance, or Kraken. You'll need to create an account, verify your identity (KYC), deposit funds, and place a buy order. Always use reputable exchanges and enable two-factor authentication.

What is Bitcoin halving?

Bitcoin halving is an event that occurs every 210,000 blocks (~4 years) where the block reward for miners is cut in half. This reduces the rate of new Bitcoin creation, making it more scarce. The next halving is expected in 2028.

Is Bitcoin legal?

Bitcoin's legal status varies globally. It's legal in most countries including the USA, EU, and Japan, but some countries like China have restrictions. Always check your local regulations before buying or using Bitcoin.

🔗 Related Terms

Prerequisites:

📚 Sources

1. Bitcoin Whitepaper 🏆 Primary

2. Bitcoin - Wikipedia 📖 Tertiary

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❓ Frequently Asked Questions

🔗 Related Terms

📚 Sources

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