Bitcoin is a decentralized digital currency that lets people send value over the internet without a bank or central authority. It runs on a public, open-source network secured by c*****graphy.
Key points:
- What it is: The network (Bitcoin) and its currency units (bitcoin or BTC). Introduced in 2008/2009 by the pseudonymous Satoshi Nakamoto.
- How it works: Transactions are recorded on a public ledger called a blockchain. Miners use proof-of-work to validate blocks of transactions and secure the network.
- Supply: Capped at 21 million BTC. New coins are issued as mining rewards that “halve” roughly every 4 years until issuance effectively ends.
- Ownership: Controlled by private keys. Transactions are pseudonymous, irreversible, and settle roughly every 10 minutes per block.
- Using it: You can hold BTC in self-custody wallets (software or hardware) or via custodians/exchanges. It’s divisible down to 1 satoshi (0.00000001 BTC).
- Uses: Cross-border payments, censorship-resistant transfers, and a potential store of value. Faster, cheaper payments can be made on second layers like the Lightning Network.
- Risks: High price volatility, theft if keys are lost/compromised, scams, irreversible errors, regulatory uncertainty, and environmental impact from mining’s energy use.
Feb 16 2026, 14:29Mark