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Bitcoin: A Decentralized Digital Currency

Bitcoin is a decentralized digital currency that uses a public, permanent, and decentralized ledger called a blockchain to record transactions.
Transactions are verified by network nodes through cryptography and recorded in the blockchain.
Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto.
Nine countries have fully banned bitcoin use, and a further forty-two have implicitly banned it, while a few governments have used it in some capacity.
Bitcoin has been described as an economic bubble by at least eight recipients of the Nobel Memorial Prize in Economic Sciences.
The environmental effects of bitcoin are substantial, with its proof-of-work algorithm for bitcoin mining requiring the consumption of increasing quantities of electricity.
The unit of account of the bitcoin system is the bitcoin, which is divisible to eight decimal places, with units for smaller amounts being the millibitcoin and the satoshi.
The bitcoin blockchain is a public ledger that records bitcoin transactions, with each block containing a cryptographic hash of the previous block.
Bitcoin addresses are used to register bitcoins, with each address requiring a private key to spend the bitcoins associated with it.
Mining is a record-keeping service done through the use of computer processing power, with miners keeping the blockchain consistent, complete, and unalterable.
A new block must contain a proof-of-work (PoW) to be accepted by the network, with miners required to find a number called a nonce.
Bitcoin is pseudonymous, with funds not tied to real-world entities but rather bitcoin addresses, while wallets store the information necessary to transact bitcoins.A Comprehensive History of Bitcoin
Bitcoin is a decentralized digital currency that allows for peer-to-peer transactions without the need for a central authority.
Bitcoin wallets can operate in several modes, ranging from online wallets that require trust in a third-party provider to cold storage techniques that keep private keys offline.
Hardware wallets are a popular form of cold storage that sign transactions internally and do not share sensitive information with the host computer.
Paper wallets are another form of cold storage that involve generating a keypair on a computer with no internet connection and storing the private key on a physical piece of paper.
Bitcoin tokens have been created in various forms, including metal coins with private keys accessible under a security hologram.
Bitcoin was created in 2008 by an unknown person or group under the pseudonym Satoshi Nakamoto, who released the software as open-source code in January 2009.
Early users of bitcoin were primarily black markets, such as Silk Road, and the price of bitcoin saw significant fluctuations in the early years, rising to $19,783.06 in December 2017.
The controversial Segregated Witness software upgrade was approved in July 2017, leading to the creation of Bitcoin Cash and other forks of bitcoin.
Bitcoin prices were negatively affected by several hacks and thefts from cryptocurrency exchanges, with $761 million worth of cryptocurrencies stolen in the first half of 2018 alone.
In September 2019, the Intercontinental Exchange began trading bitcoin futures on its exchange called Bakkt.
In February 2019, Canadian cryptocurrency exchange Quadriga Fintech Solutions failed with approximately $200 million missing.
The price of bitcoin fell below $4,000 during a broad market selloff in March 2020, after trading above $10,000 in February 2020.A Comprehensive Overview of Bitcoin
Bitcoin is a digital currency that operates in peer-to-peer transactions as a currency.
Bitcoin has gone through cycles of appreciation and depreciation referred to as bubbles and busts.
The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them.
Dish Network, a Fortune 500 subscription TV provider, was the first large company to accept bitcoin in 2014.
Bitcoin's acceptance among major online retailers has declined due to high transaction fees and scalability issues.
Bitcoin continues to be used for large-item purchases on sites such as Overstock.com and for cross-border payments to freelancers and other vendors.
Bitcoin funds and mining are methods of investment in bitcoin.
Bitcoin has been a subject of warnings by regulatory bodies regarding high rates of fraud, hacking, and volatility of its price.
Bitcoin has roots in Austrian economics, techno-anarchism, and libertarianism.
The price of bitcoin has been affected by events such as the onset of the COVID-19 pandemic, investments by MicroStrategy, Square, and PayPal, and announcements by Elon Musk.
Bitcoin has been used by Hong Kong workers to transfer money home and has been considered a threat to the establishment by some economists.
The Taproot network software upgrade was approved in June 2021, adding support for Schnorr signatures, improved functionality of Smart contracts and Lightning Network.Overview of Bitcoin: History, Use by Governments, Economic and Legal Concerns, Environmental Effects, and More
Bitcoin is a decentralized digital currency created in 2009 by an unknown person using the name Satoshi Nakamoto.
Bitcoin transactions are recorded on a public ledger called the blockchain, which is maintained by a network of computers around the world.
The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and the media.
State and provincial securities regulators are investigating "bitcoin scams" and ICOs in 40 jurisdictions.
El Salvador became the first country to make bitcoin legal tender in 2021, but the implementation of the law has been met with protests and calls to make the currency optional.
The majority of Salvadorans disagreed with using cryptocurrency as a legal tender, and a survey showed that 91% of the country prefers the dollar over bitcoin.
Bitcoin has been described as an economic bubble by at least eight Nobel Memorial Prize in Economic Sciences laureates.
Bitcoin wealth is highly concentrated, with 0.01% holding 27% of in-circulation currency, as of 2021.
Bitcoin Core is free and open-source software that serves as a bitcoin node and provides a bitcoin wallet which fully verifies payments.
The original creator of the bitcoin client has described their approach to the software's authorship as it being written first to prove to themselves that the concept of purely peer-to-peer electronic cash was valid and that a paper with solutions could be written.
Hodl (often written HODL) is slang in the cryptocurrency community for holding a cryptocurrency rather than selling it. It originated in a December 2013 post on the Bitcoin Forum message board.
In Charles Stross's 2013 science fiction novel Neptune's Brood, the universal interstellar payment system is known as "bitcoin" and operates using cryptography.