Bitcoin is a decentralized digital currency that operates without the need for a central bank or administrator. It was created in 2009 by an unknown person or group of people under the pseudonym Satoshi Nakamoto.
Bitcoin is based on a decentralized ledger called the blockchain, which records all transactions made using the currency. The blockchain is maintained by a network of nodes or computers that verify and validate transactions, ensuring that the network remains secure and trustworthy.
One of the key features of BC is its finite supply. The total number of Bitcoins that will ever exist is limited to 21 million, which is expected to be reached in 2140. This makes Bitcoin a deflationary currency, as the supply decreases over time, unlike fiat currencies that can be printed by central banks.
Bitcoin has gained popularity as an alternative to traditional currencies and a potential store of value. Its value has fluctuated greatly over the years, with significant price swings and periods of volatility. However, many investors see Bitcoin as a long-term investment opportunity and a way to diversify their portfolios.
Despite its popularity, Bitcoin still faces some challenges and criticisms. Its decentralized nature means that it is not regulated by governments or traditional financial institutions, which has led to concerns around its use in illicit activities. In addition, its high energy consumption and potential environmental impact have also been subject to scrutiny.
Overall, Bitcoin represents a new and innovative way of thinking about money and finance, with the potential to disrupt traditional financial systems and empower individuals to take control of their financial future.