Bitcoin Channel

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BitcoinCurrency

Description

Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Wikipedia

Ledger start: 3 January 2009 (11 years ago)

Supply limit: ₿21,000,000

FounderSatoshi Nakamoto

Symbols: BTC, ฿, ₿ISO 4217 codes: BTC, XBT

Total number: The theoretical total number of Bitcoin, 21 million, should not be confused with the total spendable supply.

Bitcoin[a] () is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.[8]

Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto[15] and started in 2009[16] when its source code was released as open-source software.[7]:ch. 1 Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.[17] Research produced by University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.[18]

Bitcoin has been criticized for its use in illegal transactions, its high electricity consumption, price volatility, and thefts from exchanges. Some economists, including several Nobel laureates, have characterized it as a speculative bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.[19][20]

Bitcoin is an innovative payment network and a new kind of money.

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Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.