Explain Bitcoin?

Bitcoin is a decentralized digital currency that was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It operates on a technology called blockchain, which is a distributed ledger that records all transactions made with Bitcoin.

Bitcoin transactions are verified by network nodes through cryptography and recorded on the blockchain. This process ensures the security and integrity of the currency, as well as the anonymity of the users involved in the transactions.

One of the key features of Bitcoin is its limited supply, with only 21 million Bitcoins ever to be mined. This scarcity is designed to prevent inflation and maintain the value of the currency over time.

Bitcoin can be used for various purposes, including online purchases, investment, and as a means of transferring money across borders without the need for a central authority like a bank. Its value is determined by supply and demand in the market, and it has been known for its price volatility.

Overall, Bitcoin represents a new form of digital currency that offers users a decentralized and secure way to conduct transactions without the need for intermediaries.

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