What is Bitcoin?
/ΛbΙͺtΛkΙΙͺn/ - The world's first decentralized digital currency
Bitcoin is a decentralized digital currency created in 2009 by an anonymous person or group known as Satoshi Nakamoto. It operates on a peer-to-peer network without the need for intermediaries like banks or governments. Bitcoin is often referred to as "digital gold" due to its fixed supply of 21 million coins and its role as a store of value.
π Key Innovation
Bitcoin introduced blockchain technology and proof-of-work consensus, enabling trustless, censorship-resistant value transfer across the internet.
Bitcoin by the Numbers
How Bitcoin Works
Bitcoin transactions are recorded on a public ledger called the blockchain. Miners validate transactions through a process called proof-of-work, earning newly created bitcoins as rewards. The network is secured by cryptography and maintained by a global network of nodes.
Why Bitcoin Matters
- Decentralization: No single entity controls Bitcoin
- Limited Supply: Only 21 million will ever exist
- Censorship Resistance: Cannot be shut down by governments
- Borderless: Works anywhere in the world
- Transparency: All transactions are public
Where to Buy Bitcoin
Bitcoin can be purchased on major exchanges like Coinbase, Binance, and Kraken. For beginners, regulated platforms with good customer support are recommended. Always use secure wallets to store your Bitcoin after purchase.
β οΈ Important Note
Bitcoin is highly volatile and should only be purchased with money you can afford to lose. Cryptocurrency investments carry significant risk.