Bitcoin
Alright — here’s a clear, focused overview of Bitcoin so you get the essentials without fluff.
What is Bitcoin?
Bitcoin is the world’s first decentralized cryptocurrency, created in 2009 by an unknown person or group called Satoshi Nakamoto. It’s a peer-to-peer digital money system that allows users to send and receive payments over the internet without banks or intermediaries.
Key Features of Bitcoin
- Decentralized: No government or central bank controls it.
- Limited supply: Only 21 million BTC will ever exist.
- Blockchain-based: Public ledger records all transactions, making them transparent and tamper-proof.
- Proof-of-Work: Miners use computing power to validate transactions and secure the network.
- Global & borderless: Can be sent anywhere, anytime.
How It Works
- Wallets store private keys (needed to spend BTC).
- A transaction is signed and broadcast to the network.
- Miners verify transactions and add them to the blockchain in blocks.
- Once confirmed, the transaction is permanent and irreversible.
Why It Has Value
- Scarcity: Capped at 21 million coins.
- Security: Backed by massive global mining power.
- Censorship resistance: No one can block valid transactions.
- Portability & divisibility: Can be sent digitally and split into small units (1 satoshi = 0.00000001 BTC).
Economic Cycle – The Halving
Every 4 years (~210,000 blocks), the mining reward halves:
- 2009: 50 BTC/block
- 2012: 25 BTC
- 2016: 12.5 BTC
- 2020: 6.25 BTC
- 2024: 3.125 BTC
This slows new supply and has historically been linked to price rallies.
Price History Highlights
- 2010: 10,000 BTC = 2 pizzas (~$41 at the time).
- 2017: Hits $20,000, then crashes.
- 2021: Peaks around $69,000.
- 2022: Drops to ~$16,000 in bear market.
- 2023–2025: Recovery driven by ETF approvals, adoption, and halving cycle.
Risks of Bitcoin
- Volatility: Large price swings.
- Regulation: Varies by country.
- Security: Loss of private keys means loss of BTC.
- Competition: Other cryptos with different features.
How to Get Bitcoin
- Buy on exchanges (Binance, Coinbase, WazirX, etc.).
- Peer-to-peer trades.
- Accept it as payment.
- Mine it (requires high computing power & electricity).
If you want, I can also give you a Bitcoin timeline from 2009 to 2025 showing major price points, halving events, and market cycles so you can visually see its growth.
Do you want me to prepare that?
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