Bitcoin
Bitcoin is a decentralized digital currency that is based on a peer-to-peer network. It was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin transactions are recorded on a public ledger called the blockchain, which allows users to verify the authenticity of each transaction.
Bitcoins can be used to purchase goods and services online, as well as stored as an investment. The value of a bitcoin is determined by supply and demand on exchanges, with the price fluctuating based on market conditions.
Bitcoin is often referred to as a "cryptocurrency" because it uses cryptography to secure and verify transactions. It is decentralized, meaning that it is not controlled by any government or financial institution. Instead, it relies on a network of users to validate transactions and keep the system running smoothly.
One of the key features of bitcoin is that it is designed to be scarce, with a maximum supply of 21 million bitcoins. This is meant to make it more valuable over time as the supply becomes more limited.
There are several different ways to obtain bitcoin, including buying it on an exchange, accepting it as payment for goods or services, or mining it.
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