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What is Bitcoin?

Bitcoin is a decentralized digital currency that allows peer-to-peer transactions without the need for a central bank or government. Its finite supply of 21 million coins and the difficulty of producing new ones has earned it the nickname “Digital Gold”. Its supply is limited, ensuring that it is not susceptible to inflation caused by the printing of more money.

The coin was invented in 2008 by an anonymous person or group named Satoshi Nakamoto and released as open-source software in 2009. Its decentralized nature aligns with the principle of anonymity, which is why the inventor’s true identity remains unknown.

Bitcoin’s blockchain is a public ledger that contains records of all Bitcoin transactions. Nodes must confirm new transactions to add them to the blockchain, which helps to maintain network security and prevent fraudulent activities.

The appeal for Bitcoin has grown as people seek alternative investment options, leading to its adoption by prominent companies and individuals.

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