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What is Bitcoin (BTC)?
Bitcoin is a decentralized cryptocurrency, originally described in a white paper in 2008 by a person or group of people using the pseudonym Satoshi Nakamoto. It was launched shortly thereafter, in January 2009. Bitcoin is an online currency of peer-to-peer, independent participants in a network who conduct all transactions directly with each other, without the need for an intermediary to authorize or facilitate them.
Bitcoin was created, in Nakamoto's own words, to allow "online payments to be sent directly from one party to another without going through a financial institution." Some concepts for this type of decentralized electronic currency predate BTC, but Bitcoin has the distinction of being the first cryptocurrency to be put into real-world use.
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