overview of Bitcoin:
Bitcoin (BTC) is the world's first decentralized digital currency, introduced in 2009 by an anonymous individual or group using the pseudonym Satoshi Nakamoto. It's a peer-to-peer electronic cash system that allows online payments without a central authority or intermediary.
Bitcoin is based on a decentralized technology called blockchain, which records transactions on a public ledger. New bitcoins are created through a process called mining, where powerful computers solve complex mathematical problems to validate transactions and secure the network.
Bitcoin is characterized by:
- Decentralization: No government or institution controls it
- Limited supply: Only 21 million bitcoins will be created
- Fast and global: Transactions are fast and can be sent anywhere in the world
- Secure: Transactions are encrypted and irreversible
- Pseudonymous: Users can make transactions without revealing their real identities
Bitcoin has sparked a global conversation about the future of money and has inspired a wave of alternative cryptocurrencies, known as altcoins. Its value has fluctuated significantly over time, making it a highly volatile investment.
