Bitcoin - Page 24

Bitcoin is a form of digital currency, commonly referred to as a cryptocurrency, that was created in 2009 by an anonymous entity known as Satoshi Nakamoto. It operates on a decentralized network using blockchain technology, which is a public ledger that records all transactions in a secure and transparent manner. Bitcoin allows for peer-to-peer transactions over the internet without the need for a central authority, such as a bank or government.It is designed to enable users to send and receive payments quickly and at lower fees than traditional financial systems. Bitcoin can be acquired through mining, where powerful computers solve complex mathematical problems, or purchased on cryptocurrency exchanges. Its supply is capped at 21 million coins, contributing to its scarcity and value proposition.Values can fluctuate significantly, leading to both investment opportunities and risks. Bitcoin is often seen as a store of value, sometimes referred to as "digital gold," due to its potential to retain value over time. Its increasing acceptance in various industries and as a payment method reflects its growing influence in the financial landscape.