Bitcoin (BTC) is the first and most well-known cryptocurrency, created by an unknown person or group using the pseudonym Satoshi Nakamoto. It was introduced in a 2008 white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" and launched in January 2009.
### Key Aspects of Bitcoin
1. **Decentralization**:
- Bitcoin operates on a decentralized network of computers (nodes) that validate and record transactions on a public ledger called the blockchain. This eliminates the need for a central authority, like a bank, to manage and oversee transactions.
2. **Blockchain Technology**:
- **Ledger**: The blockchain is a distributed ledger that records all Bitcoin transactions. It is maintained by a network of nodes and secured through cryptographic algorithms.
- **Blocks**: Transactions are grouped into blocks, which are added to the blockchain through a process called mining.
- **Mining**: Miners use computational power to solve complex mathematical puzzles, validating transactions and adding them to the blockchain. Successful miners are rewarded with newly minted bitcoins and transaction fees.
3. **Supply and Scarcity**:
- **Limited Supply**: Bitcoin has a fixed supply of 21 million coins, making it a deflationary asset. As of now, about 19 million bitcoins have been mined.
- **Halving Events**: Approximately every four years, the reward for mining new blocks is halved, an event known as "halving." This reduces the rate at which new bitcoins are created and adds to the scarcity over time.
Be Bullish in $BTC about couple months is goint to 100k