WHAT IS BITCOIN?
Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the pseudonym Satoshi Nakamoto. It was launched shortly thereafter, in January 2009.
Bitcoin is a peer-to-peer online currency, meaning that all transactions take place directly between equal and independent participants in the network, without the need for any intermediary to enable or facilitate them. Bitcoin was created, in Nakamoto's own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”
Concepts for a similar type of decentralized electronic currency predate BTC, but Bitcoin has the distinction of being the first cryptocurrency to enter actual use. ---------------------
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