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bitcoin is an electronic currency that was launched in 2009 by a pseudonym named satoshi nakamoto.
bitcoin is used in transactions over the internet without using an intermediary alias not using bank services.
basically bitcoin uses a peer to peer (P2P) system. It's just that this system works without a single storage or administrator where the United States Treasury calls bitcoin a decentralized currency.
Unlike other currencies in general, bitcoin does not depend on one large issuer. Bitcoin uses a distributed database and spreads to nodes from P2P networks to transaction journals.