Bitcoin: Difference between revisions
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'''Bitcoin''' (abbreviation: '''BTC'''; [[Currency symbol|sign]]: '''₿''') is a form of [[Digital currency|digital money]] with no physical existence. Unlike traditional [[Fiat money|currencies]], it operates without central control or [[Bank|banks]]. Transactions occur over a [[Decentralized network|decentralized network]] of thousands of interconnected computers, known as [[Node (networking)|nodes]]. | |||
Based on early concepts of digital money, the origins of cryptocurrency trace back to 1983, when [[David Chaum]] introduced '''[[Ecash|eCash]]''' and later launched '''[[DigiCash]]''' in 1989. | |||
In 2008, the pseudonymous creator [[Satoshi Nakamoto]] published the white paper '''''[[Bitcoin: A Peer-to-Peer Electronic Cash System]]''''' introducing [[Blockchain|blockchain technology]] and the idea of full decentralization. Bitcoin’s network officially launched in 2009 with the mining of the first block, known as the '''[[Genesis Block]]'''. | |||
Several key milestones shaped Bitcoin’s growth: | |||
* The first real-world transaction on '''[[Bitcoin Pizza Day|May 22, 2010]]'''. | |||
* Bitcoin surpassed '''$1''' in value for the first time in 2011. | |||
* Gained widespread global recognition by 2013. | |||
* From 2021 to 2025, Bitcoin achieved increased legitimacy due to events such as [[U.S. Securities and Exchange Commission|SEC]] approval of Bitcoin [[Exchange-traded fund|ETFs]], integration into [[PayPal]], and regulatory frameworks introduced under U.S. President [[Donald Trump]]. | |||
Bitcoin transactions occur on a decentralized [[Blockchain|blockchain network]] where users transfer digital currency between [[Cryptocurrency wallet|wallets]]. Verified by [[Bitcoin mining|mining]] using [[Cryptography]] and the [[Proof-of-work|proof-of-work]] consensus system, each transaction ensures transparency, security, and independence, enabling peer-to-peer payments without banks or other intermediaries. | |||
Revision as of 10:00, 18 November 2025
| Bitcoin | |
|---|---|
| |
| Commonly used logo of bitcoin | |
| Denominations | |
| Plural | Bitcoins |
| Symbol | ₿ (Unicode: U+20BF ₿ BITCOIN SIGN) |
| Code | BTC |
| Precision | 10⁻⁸ |
| Subunits |
59 Markets.com, “Crypto market analysis: What are the features of cryptocurrency?” Archived. Retrieved October 2025 |
| Development | |
| Original author | Satoshi Nakamoto |
| White paper | Bitcoin: A Peer-to-Peer Electronic Cash System |
| Implementation | Bitcoin Core |
| Initial release | 0.1.0 / 9 January 2009 (16 years ago) |
| Latest release | 30.0.0 / 11 October 2025 (34 days ago) |
| Code repository | GitHub |
| Development status | Active |
| Written in | C++ |
| Source model | Free and Open Source Software |
| License | MIT Licence |
| Ledger | |
| Ledger start | 3 January 2009 (16 years ago) |
| Timestamping scheme | Proof of work (partial hash inversion) |
| Hash function | SHA-256 (two rounds) |
| Issuance | Decentralized (block reward), Initially ₿50 per block, halved every 210,000 blocks |
| Block reward | ₿3.125 (as of 2025) |
| Block time | 10 minutes |
| Circulating supply | ₿19,934,271 (as of 14 October 2025) |
| Supply limit | ₿21,000,000 |
| Valuation | |
| Exchange rate | Floating |
| Website | bitcoin.org |
Bitcoin (abbreviation: BTC; sign: ₿) is a form of digital money with no physical existence. Unlike traditional currencies, it operates without central control or banks. Transactions occur over a decentralized network of thousands of interconnected computers, known as nodes.
Based on early concepts of digital money, the origins of cryptocurrency trace back to 1983, when David Chaum introduced eCash and later launched DigiCash in 1989.
In 2008, the pseudonymous creator Satoshi Nakamoto published the white paper [[Bitcoin: A Peer-to-Peer Electronic Cash System]] introducing blockchain technology and the idea of full decentralization. Bitcoin’s network officially launched in 2009 with the mining of the first block, known as the Genesis Block.
Several key milestones shaped Bitcoin’s growth:
- The first real-world transaction on May 22, 2010.
- Bitcoin surpassed $1 in value for the first time in 2011.
- Gained widespread global recognition by 2013.
- From 2021 to 2025, Bitcoin achieved increased legitimacy due to events such as SEC approval of Bitcoin ETFs, integration into PayPal, and regulatory frameworks introduced under U.S. President Donald Trump.
Bitcoin transactions occur on a decentralized blockchain network where users transfer digital currency between wallets. Verified by mining using Cryptography and the proof-of-work consensus system, each transaction ensures transparency, security, and independence, enabling peer-to-peer payments without banks or other intermediaries.