Bitcoin is the original cryptocurrency that revolutionized the financial world in 2009. Unlike traditional money, Bitcoin operates **without a central authority** like a bank. Instead, it uses **blockchain technology**, a decentralized system where transactions are verified and recorded by a global network of computers. Hereâs how it works:
1. **Blockchain**: Think of it as a public, digital ledger that records every Bitcoin transaction transparently and securely. Once a transaction is added, it cannot be changed!
2. **Mining**: New bitcoins are created through a process called mining, where powerful computers solve complex problems to verify transactions and secure the network. Miners are rewarded with new bitcoins for their work!
3. **Limited Supply**: Bitcoin is often called "digital gold" because only **21 million bitcoins** will ever exist. This scarcity increases its value over time as demand grows. đ°
4. **Decentralized**: No single entity controls Bitcoin. This gives you **complete control** over your money, unlike traditional financial systems where banks hold your funds.
**Why Use Bitcoin?**
- **Store of Value**: Many people invest in Bitcoin, holding it like gold to protect and grow their wealth.
- **Peer-to-Peer Payments**: You can send Bitcoin directly to anyone, anywhere in the world without needing a bank!
Want to learn more? Follow along for the latest updates and insights into the world of Bitcoin!
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