What exactly is Bitcoin?
Bitcoin is a digital currency created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. It works on a peer-to-peer (P2P) network, allowing direct transactions between users without intermediaries such as banks. Bitcoin transactions are recorded in a public ledger called the blockchain, and the currency is mined through a process where powerful computers solve complex mathematical problems to verify transactions and add it to the blockchain. Bitcoin is best known for its limited supply of 21 million and its potential as a commodity.