Bitcoin is a form of digital currency that operates independently of a central bank or government. 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.
Bitcoin can be used to buy goods and services online, as well as to speculate on its value in the financial markets. It is considered a decentralized currency because it is not controlled by any single entity, making it resistant to censorship and government interference.
Bitcoins are stored in digital wallets, which can be accessed using private keys. These keys are used to sign transactions, providing a secure way to transfer funds. The total supply of Bitcoin is capped at 21 million coins, which helps to maintain its value over time.
Bitcoin is often referred to as “digital gold” because, like gold, it is seen as a store of value and a hedge against inflation. Its price can be volatile, which has led to debates about its long-term viability as a currency. Despite the criticism, Bitcoin remains the most well-known and widely used cryptocurrency in the world.
