What is Bitcoin?

Bitcoin is a form of cryptographic currency, introducing a peer-to-peer payment system. Built on blockchain technology, Bitcoin was created at the heart of the 2008-09 economic crisis, with the first unit mined on January 3, 2009. Its creator, Satoshi Nakamoto, remains anonymous to this day, using a pseudonym.

One of Bitcoin’s fundamental features is its decentralization, eliminating any controlling entity through distributed consensus. Its quantity is limited to 21 million units, and it is divisible up to the eighth decimal place, known as Satoshi. As the most significant decentralized cryptographic currency, Bitcoin has its price determined by the free market, based on supply and demand. It is often regarded as the currency of the people, providing a unique alternative to traditional financial systems

Why Bitcoin (and other cryptocurrencies) vs Fiat Currency (Dollars, Euro, etc.)?

Bitcoin provides solutions to critical issues compared to the trust model inherent in fiat currency.

• As a decentralized system, Bitcoin is truly under our control, escaping the influence of a central bank.

• Adopting a low-inflation model with a limited supply, it strengthens purchasing power, unlike the Dollar or Euro, subject to a loss of purchasing power due to inflation.

• Accessible to everyone without restrictions, Bitcoin allows ownership and exchange without hindrance.

• The security offered by cryptography ensures the integrity of Bitcoin-related data.

• The resolution of the consensus problem is achieved through its distributed system, the “Blockchain,” eliminating the need for a centralized infrastructure to maintain accounts of holdings and ensure transactions.