What is Bitcoin?

Bitcoin is a digital currency that operates in a decentralized manner, without a central authority such as a government or a bank. It was introduced in 2009 by an individual or a group of people using the pseudonym “Satoshi Nakamoto.” Bitcoin is based on a technology called blockchain, which is a public distributed ledger that records all transactions.

Essentially, Bitcoin is a form of digital money that can be transferred over the internet. Unlike traditional currencies such as the Euro or the US Dollar, Bitcoin exists only in digital form and has no physical counterpart like coins or banknotes. The transfer of Bitcoins occurs peer-to-peer, directly from person to person, without the need for an intermediary such as a bank.

Another important feature of Bitcoin is its limited total supply. There will never be more than 21 million Bitcoins, which helps limit inflation. New Bitcoins are created through a process called “mining,” where powerful computers solve complex mathematical problems to confirm transactions and generate new Bitcoins.

Bitcoin has gained popularity in recent years and is accepted as a means of payment by individuals and businesses worldwide. It is also often considered a form of investment, and its prices can be volatile. It is important to note that the cryptocurrency market is constantly evolving, and there are also other cryptocurrencies besides Bitcoin.

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