Bitcoin is a type of digital money, or cryptocurrency, that exists only online and is not controlled by any government or bank. Transactions are recorded on a public digital ledger called a blockchain.
Formed from “bit,” the basic unit of digital information, and “coin,” a standard word for money. It was introduced in 2009 by a person or group using the name Satoshi Nakamoto.
Bitcoin blends computer science, economics, and politics into one invention. Its big idea is that strangers can agree on who owns what money without trusting a central authority—only math and shared records.
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