Bitcoin is a decentralized digital currency that lets people send value over the internet without a bank. It was introduced in 2009 by a person or group using the name Satoshi Nakamoto.
Key points:
- How it works: A global network of computers maintains a public ledger called the blockchain. Transactions are bundled into blocks; miners use computing power (proof-of-work) to secure the network and add blocks, earning new bitcoin and fees.
- Limited supply: At most 21 million bitcoins will ever exist. The rate of new issuance drops roughly every four years (the “halving”).
- Ownership: You control bitcoin with c*****graphic private keys stored in a wallet. Transactions are signed, public, and irreversible. Identities are pseudonymous.
- Uses: Store of value, cross-border transfers, and payments (though everyday merchant acceptance varies). Layer-2 tech like the Lightning Network enables faster, cheaper payments.
- Considerations: Price is highly volatile, fees can fluctuate, regulation varies by country, energy use is debated, and securing your keys is critical.
Feb 16 2026, 14:28Mark