BITCOIN, WHAT IS?

What is Bitcoin?

I started this story by asking what is Bitcoin. This is because I am very curious about Bitcoin and also I am still a layman with Bitcoin.
Through my search on several sites on the internet, then I can summarize that bitcoin is an electronic money made in 2009 by Satoshi Nakamoto. Bitcoin's name is also associated with open source software that he designed, and also uses a peer-to-peer network without centralized storage.

unlike most common currencies, bitcoin does not depend on trusting major publishers.bitcoins use a database that is distributed and spread to the nodes of a P2P network to a transaction journal, and uses cryptography to provide basic security functions, such as ensuring that bitcoins can only be spent by people owning them, andnever more than one.transactions are verified and protected by a decentralized peer-to-peer network.

The design of Bitcoin allows for anonymous ownership and transfer of wealth. bitcoins can be stored on a personal computer in a wallet file format or saved by a third party wallet service, and apart from all that bitcoin can be sent via the Internet to anyone with a Bitcoin address.

The peer-to-peer bitcoin topology and the lack of a single administration make it impossible for any governmental authority to manipulate the value of bitcoin-bitcoin or cause inflation by producing more bitcoin.

Bitcoin is one of the first implementations of the so-called cryptocurrency, first described by Wei Dai in 1998 in the cypherpunks mailing list