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| what is bitcoin |
Bitcoin is a decentralized digital currency that was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. It is the first and most well-known cryptocurrency, and it operates on a technology called blockchain.
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Bitcoin is designed to function as a peer-to-peer electronic cash system, allowing users to send and receive payments directly without the need for intermediaries such as banks. Transactions are recorded on a public ledger called the blockchain, which is maintained by a network of computers called miners.
One of the key features of Bitcoin is its limited supply. There will only ever be 21 million bitcoins in existence, and this scarcity is built into the system through a process called mining. Miners use powerful computers to solve complex mathematical problems, and when they successfully mine a block, they are rewarded with newly created bitcoins.
Bitcoin has gained significant attention and popularity due to its potential as an alternative form of currency and its decentralized nature. It allows for borderless and relatively anonymous transactions, as well as protection against inflation since it is not controlled by any central authority or government.
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| what is bitcoin |
The value of Bitcoin can be volatile, experiencing significant price fluctuations over time. It has also attracted attention as an investment asset, with some people purchasing Bitcoin in the hopes that its value will increase over time.
It's worth noting that while Bitcoin is the most well-known cryptocurrency, there are now thousands of other cryptocurrencies with various features and use cases.
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