Bitcoin is a cryptocurrency and a digital payment system. It was created in 2009 by an anonymous person or group of people known as Satoshi Nakamoto. Bitcoin is decentralized, meaning it is not subject to government or financial institution control.
Bitcoin is unique in that there are a finite number of them: 21 million. Bitcoins are created through a process called mining, which involves solving complex mathematical problems. Miners are rewarded with bitcoins for their work.
Bitcoin can be used to purchase goods and services online and in some brick-and-mortar stores. It can also be traded on cryptocurrency exchanges.
Here are some of the key features of Bitcoin:
* **Decentralization:** Bitcoin is decentralized, meaning it is not subject to government or financial institution control.
* **Security:** Bitcoin is secured by cryptography, making it extremely difficult to hack or counterfeit.
* **Transparency:** All Bitcoin transactions are recorded on a public blockchain, which is a ledger of transactions that is maintained by a network of computers.
* **Scarcity:** There are a finite number of bitcoins: 21 million.
Bitcoin is a controversial currency, and its value has fluctuated wildly since its creation. However, it is also a popular currency, and it is increasingly being accepted by merchants and businesses.
