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Bitcoin Overview.

Bitcoin

Bitcoin is a de centralized digital currency that was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. It operates on a peer-to-peer network that allows users to send and receive payments without the need for an intermediary like a bank or payment processor.

Bitcoin uses cryptography to secure its transactions and to control the creation of new units of the currency. Transactions on the network are recorded on a public ledger called the blockchain, which allows anyone to verify the authenticity of a transaction.

One of the unique features of Bitcoin is its limited supply. There will only ever be 21 million bitcoins in existence, which is a deliberate design choice to prevent inflation. Bitcoin is also highly divisible, with each bitcoin divisible up to eight decimal places, allowing for small transactions to take place.

Bitcoin has gained popularity as an investment asset and a means of payment. It has been subject to significant price volatility, with its value reaching an all-time high of nearly $65,000 USD in April 2021 before dropping significantly in the following months. The use of Bitcoin and other cryptocurencies is still a topic of debate and regulation, with many governments and financial institutions expressing concerns about their potential use in illicit activities.