Bitcoin is a decentralized digital currency that operates on a peer-to-peer network and uses a distributed ledger system called blockchain for recording transactions. It was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Bitcoin is not controlled by any central authority or financial institution and can be used for buying, selling, and exchanging goods and services without intermediaries. Transactions are made by exchanging anonymous, heavily encrypted hash codes across the network. Bitcoin's supply is limited to 21 million coins, making it scarce and controlling inflation. Bitcoin is stored in a digital wallet and can be kept secure through various types of wallets, including software, offline, and hardware wallets. Transactions are verified and monitored by the P2P network, and each user's bitcoin are stored in a private key known only to them. Bitcoin is controversial due to its potential use for illicit activities and unreported income. For more information, you can refer to the Investopedia article "What Is Bitcoin?" and the Bitcoin.org website. 1 2
