Entity: BITCOIN
Bitcoin is a digital currency that operates on a decentralized peer-to-peer network, created in 2009 by an anonymous entity known as Satoshi Nakamoto.
Bitcoin
Etymology
The term 'Bitcoin' is a combination of 'bit' and 'coin', reflecting its digital nature as a form of currency.
Definition
Bitcoin is the currency of the Internet, a digital currency that uses peer-to-peer technology to facilitate instant financial transactions without the need for third-party involvement.
Historical Context
Bitcoin was created in 2009 by an anonymous computer programmer or group of programmers known as Satoshi Nakamoto. It operates on a decentralized network, allowing users to transact directly without the need for intermediaries.
Cultural Significance
Bitcoin has gained popularity as a digital asset and investment vehicle, with its value fluctuating based on market demand. It has also been associated with illicit activities due to its pseudonymous nature.
Related Concepts
- Cryptocurrency
- Blockchain
- Mining
See Also
Bitcoin is the currency of the Internet, a digital currency that uses peer-to-peer technology to facilitate instant financial transactions without the need for third-party involvement.