What is Bitcoin?
Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It came to life in 2009 when it was released as open-source software.
Bitcoin is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Bitcoin provides a store of value and a method of transaction.
Who is Satoshi Nakamoto?
Satoshi Nakamoto is the name used by the person or persons who originally developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin’s original reference implementation. As part of the implementation, Satoshi Nakamoto also devised the first blockchain database. In the process, Satoshi Nakamoto was the first to solve the double-spending security/fraud issue. Satoshi Nakamoto was active in the development of bitcoin up until December 2010. Since 2010 many people have claimed to be Satoshi Nakamoto but when pressured for hard proof, all have failed to convince the community of their claim.
Are you interested in buying Bitcoin?
You can buy Bitcoin and many other cryptocurrencies here.