bitcoin

Phonetic: /ˈbɪtkɔɪn/

Part of Speech: noun

Category: To be determined

Bitcoin is a decentralized digital currency or cryptocurrency, which was created in 2009 by an unknown person or group using the name Satoshi Nakamoto. Bitcoin transactions are recorded on a public digital ledger called the blockchain, which is maintained by a network of computers worldwide. Bitcoin transactions are made directly between users without the need for intermediaries like banks or financial institutions. Users can send and receive bitcoins using digital wallets. One of the key features of Bitcoin is its limited supply. There will only ever be 21 million Bitcoins in existence, which helps to prevent inflation and maintain the value of the currency. When referring to the overall network, capitalization is appropriate (Bitcoin), whereas when referring to the tokens themselves, lower-case is more appropriate (bitcoin). The plural of bitcoin is just bitcoin; the abbreviation is BTC, with a space: I have 250 BTC.

Definition source: James Beck, Education DAO - mapachurro

Sample sentence

N/A

Additional definitions

A cryptocurrency created by the pseudonymous developer(s) Satoshi Nakamoto, initially described as a 'Peer-to-Peer e-cash'.

Source

Extended definition

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This word came from... the ether

Date first recorded: 2025-01-31

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