The currency form proposed by Satoshi Nakamoto in 2008 is a type of electronic currency generated by open-source P2P software. Bitcoin is a type of network virtual currency that can be cashed out, and its credit is not supported by any individual or organization, but is based on natural algorithms, belonging to natural credit currency.

On November 1, 2008, Satoshi Nakamoto published the Bitcoin white paper "Bitcoin: A Peer-to-Peer Electronic Cash System" on the P2P Foundation website, outlining his new vision for electronic currency. On January 3, 2009, Satoshi Nakamoto mined the first block of Bitcoin, known as the "genesis block," and received the first mining reward—50 bitcoins. 20125725127