Bitcoin is a decentralized digital currency, also known as a cryptocurrency, that operates without the oversight of a central authority. The concept of Bitcoin was introduced in a 2008 white paper by an individual or group of individuals using the pseudonym Satoshi Nakamoto. Bitcoin facilitates peer-to-peer transactions between users directly, secured by blockchain technology, which acts as a public ledger of all transactions across a network of users. The currency is “mined” using high-powered computers that solve complex mathematical puzzles. Bitcoin has garnered widespread attention for its volatile price fluctuations and has been a trailblazer for many other digital currencies. It has also raised discussions about its potential impacts on global finance and its utility for various legal and illegal activities.
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