Bitcoin is a decentralized digital currency that allows for peer-to-peer transactions without the need for a centralized intermediary like a bank or government. It was created in 2009 by an unknown person or group of people using the pseudonym "Satoshi Nakamoto".
The Bitcoin network uses a technology called blockchain, which is a distributed ledger that records all transactions made with Bitcoin. Each transaction is verified and added to the blockchain by a network of computers around the world, known as nodes. This decentralized system makes it very difficult to tamper with the data on the blockchain.
Bitcoins are created through a process called mining, in which powerful computers solve complex mathematical problems to verify transactions and add new blocks to the blockchain. Miners are rewarded with new bitcoins for their efforts.
One of the key features of Bitcoin is its limited supply. There will only ever be 21 million bitcoins in existence, and this limit is enforced by the underlying technology of the blockchain. This scarcity has helped to drive up the price of Bitcoin over time, although its value has also been subject to significant volatility.
Bitcoin has been used for a variety of purposes, from online purchases to international money transfers, to investments and speculative trading. It has also been criticized for its potential use in illegal activities and for its environmental impact, as mining bitcoins requires a lot of energy.
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