Bitcoin is the world's first digital currency that can be used without any government, bank, or institution. It is completely decentralized.
How did it start?
In 2008, an unknown person or group published a research paper (Whitepaper) under the name Satoshi Nakamoto.
This paper presented the concept of a new type of money that could be sent and received over the internet without a bank.
When was Bitcoin created?
On January 3, 2009, the first Bitcoin block was mined, known as the Genesis Block. This day is considered the birthday of Bitcoin.
How does Bitcoin work?
Bitcoin runs on a blockchain, which is a long record of transactions that cannot be altered by anyone.
New Bitcoins are created through mining, which is achieved by solving complex mathematical problems using computers.
Initial price
Initially, the price of Bitcoin was zero.
In 2010, a person bought just two pizzas for 10,000 Bitcoins — this was the first Bitcoin purchase in history.
Bitcoin's popularity
In 2013, the price reached around $1,000 for the first time.
After that, it started to be used worldwide for payments, investments, and as a store of value (Digital Gold).
Today, Bitcoin is the most famous and valuable cryptocurrency in the world.
Why is Bitcoin famous?
Limited supply (only a total of 21 million Bitcoins will be created)
Transfers without a bank
Security and transparency
Global acceptance
Capital
