Bitcoin is a decentralized digital money that lets people send value to each other over the internet without a bank or central authority.
Key points:
- Origin: Proposed in 2008 by the pseudonymous Satoshi Nakamoto; network launched in 2009.
- How it works: Transactions are recorded on a public ledger called a blockchain. Thousands of computers (nodes) agree on the ledger’s state. Miners use proof-of-work to bundle transactions into blocks and secure the network.
- Supply: Capped at 21 million coins, released on a schedule that halves new issuance about every four years.
- Ownership: You control bitcoins with c*****graphic keys. A wallet holds your keys; lose them, lose access. Transactions are irreversible.
- Divisibility: Smallest unit is a satoshi (1 BTC = 100,000,000 sats).
- Uses: Payments, cross-border transfers, and as a store of value/speculative asset. It’s globally accessible and operates 24/7.
- Traits and trade-offs: Transparent (pseudonymous, not fully anonymous), price is highly volatile, fees vary, energy-intensive security model, and regulations differ by country.
You can get bitcoin by buying on an exchange, earning it for goods/services, or receiving it directly to your wallet.
Feb 16 2026, 14:33Mark