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What is Bitcoin (BTC)?

BTC definition: What is Bitcoin? Bitcoin is a form of digital currency that aims to eliminate the need for central authorities such as banks or governments. Instead, Bitcoin uses blockchain technology to support peer-to-peer transactions between users on a decentralized network.

What is bitcoin & how does it work?

The Bitcoin protocol is open-source software that was originally created by Bitcoin’s pseudonymous founder, Satoshi Nakamoto. Anyone in the world can run the software, and thousands of people have contributed to its development since launching in 2009. The group of people who voluntarily run the software form the Bitcoin network.

What happened to bitcoin?

After a tough year for cryptocurrency in general, Bitcoin has slumped to its current price of just under $17,000. Hacking concerns. While backers say the blockchain technology behind Bitcoin is even more secure than traditional electronic money transfers, there have been a number of high-profile hacks.

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