Bitcoin

Bitcoin (code: BTC, XBT, BitcoinSign.svg) is a decentralized digital currency, released by Satoshi Nakamoto in the form of open source software [9] since 2009 [2]. Bitcoin can be exchanged directly with the Internet-connected device without the need of an intermediary financial institution [10].

Bitcoin
Electrum Bitcoin Wallet.png
Digital Bitcoin Wallet
ISO 4217 XBT code [1]
Central Bank Bitcoin Global Coordinator Network coordinates and stabilizes algorithm transactions. No central operator exists. [2] [3]
Date of birth January 3, 2009
Bitcoin Genesis Block Source
Use at Global eCommerce
Inflation Limit Release
Source of BTC is circulating
Mode The inflation rate every four years will be cut in half until 21 million bucks are issued. [4]
Smaller units
.001 mBTC (millibit)
.000001 μBTC (bit)
.00000001 satoshi [5]
BTC, XBT, BitcoinSign.svg, [6], [7] Ƀ [8], Ký
Mint Coin Network Bitcoin blockchain
Website https://bitcoin.org

Bitcoin's frequent logos.
Bitcoin has a different approach than typical currencies: No central bank manages it and the system operates on a peer-to-peer Internet protocol. [11] Bitcoin provisioning is automatic, limited, scheduled to be based on algorithms. Bitcoin is provided to Bitcoin diggers to pay for the Bitcoin transaction verification and to write them into the ledger scattered in the peer-to-peer network - known as the blockchain. This ledger uses Bitcoin as the accounting unit. Each bitcoin can be subdivided into 100 million smaller units called satoshi [5].

Transaction fees may apply to new transactions depending on network resources. In addition to transaction fees, diggers are also paid for block transaction logs. Every 10 minutes, a new volume is created with the amount of Bitcoin allocated. The number of bitcoins allocated to each block depends on the network activity time. In July 2016, 12.5 bitcoins were allocated to each new block. The inflation rate will be halved to 6.25 bccoin by July 2020 and continue to fall by half in each of the four-year cycles until a total of 21 million bcd is released in 2140. [2] [12] ]. In addition to digging Bitcoin, users may have Bitcoin by exchanging Bitcoin for the sale of currency, goods, or other services.

Bitcoin is the most prevalent codec, first introduced, and most widely used in e-commerce. [4] [13] Businesses tend to want to pay by Bitcoin to minimize costs. By May 2017, Bitcoin's base currency was valued at more than $ 48 billion - the largest denomination of any codec. [14] [15] The tremendous fluctuations in the value of each bitcoin generated criticism for Bitcoin's economic suitability as a currency. [16]

Note that the term Bitcoin is capitalized when referred to as a protocol, software, or community, and is lowercase when referred to as a unit of currency.