Google trend - Bitcoin

Bitcoin - 10 things to know with detail

• Bitcoin is a digital currency that was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It operates on a decentralized network known as blockchain, which allows for secure and transparent transactions.
• Bitcoin is often referred to as a cryptocurrency because it uses cryptography to secure transactions, control the creation of new units, and verify the transfer of assets.
• Bitcoin transactions are recorded on a public ledger called the blockchain. This ledger is maintained by a network of computers called nodes, which work together to validate and confirm transactions.
• Bitcoin can be bought, sold, and used to make purchases online and in some physical stores. It can also be traded on various cryptocurrency exchanges.
• The supply of Bitcoin is limited to 21 million coins, which makes it a deflationary currency. This means that as demand for Bitcoin increases, its value may also increase over time.
• Bitcoin transactions are irreversible, meaning once a transaction is confirmed, it cannot be reversed or canceled. This is because of the decentralized nature of the blockchain network.
• Bitcoin transactions are pseudonymous, meaning that while the details of each transaction are recorded on the blockchain, the identities of the parties involved are not necessarily known.
• Bitcoin has been subject to extreme price volatility since its inception, with its value fluctuating significantly over short periods of time. This volatility has made Bitcoin both a lucrative investment opportunity and a risky asset.
• Bitcoin has faced criticism for its potential use in illegal activities, such as money laundering and tax evasion, due to its pseudonymous nature. However, proponents argue that Bitcoin offers privacy and financial freedom to individuals around the world.
• In recent years, Bitcoin has gained mainstream acceptance and adoption, with major companies and institutions beginning to accept and invest in the cryptocurrency. Its growing popularity has led to increased regulation and oversight in many countries.