Bitcoin is an electronic money created in 2009 by an anonymous inventor, known under the pseudonym of Satoshi Nakamoto, who developed an idea he himself presented on the Internet at the end of 2008. By convention, the word Bitcoin, with its uppercase first, refers to technology and the network, while the tiny bitcoin refers to the currency itself.
Unlike most traditional currencies, Bitcoin does not use a central entity: it uses a distributed database between network nodes that trace transactions, but uses encryption to handle functional aspects such as the generation of new currency and the attribution of bitcoin property.
The Bitcoin network allows the holding and the anonymous transfer of coins; the data needed to use its own bitcoins can be saved on one or more personal computers or electronic devices such as smartphones in the form of a “digital wallet” or kept by third parties performing similar functions to a bank. In any case, bitcoins can be transferred over the Internet to anyone with a “bitcoin address”.
Is it a hippie money?
In God we trust and in tech we invest
The peer-to-peer structure of the Bitcoin network and the lack of a central body makes it impossible for any authority, whether governmental or not, to block transfers, the bitcoin seizure without the possession of the keys or the devaluation due to the new coin.
Bitcoin is one of the first implementations of a concept known as cryptovalue, described for the first time in 1998 by Wei Dai on a mailing list