BITCOIN
what 16 Bitcoin?
=> Bitcoin Was created by Satoshi Nakamoto, a g5UdonymMoUS person or team who
outlined the technology in a LOOT white pager. TS an aggedlingly Simele concept
bitcown io digital woney thot allows €or secure peer-to-peer transactions on the
wntevnet.
=> Unlike sevvices ike Venmo and PayPal, which vely on the traditional {nancial
syotewm Cov Permission to transfer wony Gnd on existing debit/credit accounts,
bitcon 15 decentralized: any two people, Anywheve in the world, Can 2nd bittoin
to each other without the involvement of a bank, government, ovr other
wnStitution.
= Buevy transaction wVolVing Bitcoin 15 tracked on the blockchain, which iS Similar
to a banks \edagy, oc a) of customers {unds Aoindy in 0nd out of the bank. Tw
Simple tevwms, 1S a vecovd of evevy transaction ever wade Using bitcon.
=> Unlike a bank's ledagy, the Bitcoin blockehain 16 distvibuted across the entice
network. No company, county, or thivd party iS in contol o€ it; Gnd Qnyone Con
become pavt of that network.
=> Theve will only ever be U willion bitcoin. This i$ digital money that cannot be
floated or manipulated in any way.
=> Tt ont necessary to buy an entive bitcoin: you can buy sta £vaction of
one if that's all you want or need.
=> Vegending on jouw 90015, bitcoin con €unction 05
- Qn Investment vehicle
- a Stove of vale Similar to 9old
- a way to tvans€er value avound the world
- even Just a way to explore an 2m rang technology
=> Bitcon 5 Q currency native to the Twntewnet. Unlike qoverament-issued
CUNVENCies SUCh aS the dollar ov euro, Bitcoin Allows online tvans€evs without a
widdleman such as a bank ov poyment processor. The vewoval of those
gatekeegevs creates a whole vange of new gossibilities, cluding the gotential
€or woney to wove avound the global internet wove quickly and cheagly, and
Allowing) dividuals to have maximum Control over their own 05515.
=> Bitcoin 15 legal Yo use, hold, And tvade, and can be Spent on everything ‘rom
travel to charitable donations. TS accepted as payment by businesses including
Micvoso€t and Expedia.
=> 16 bitcoin woney? Tt been used a5 a wedivm of exchange, a Stove of valve,
and A Unit of account—which ave all properties of woney. Meanwhile, it only exists
digitally, theve 6 vo physical version of it.
Who created Bitcoin?
=> To veally qeasg how bitcoin works, it helps to start at the beginning The
question of who created bitcon iS a fascinating one, because a decade after
waventing the technology-and desgite a lot of digaing by Journalists and members
of the ceyeto Community-its creator vemaing QnonymoUs.
=>The principles behind Bitton €ivst appeared wm a white pager published online in
late 100% by Q 9evSon oF group Aono by the name Sateshi Nakamoto.
=> This pager wasn't the Kirst idea €or digital money drawing on the fields of
cjg togroghy and computer science—in fact, the pager vefevved to earlier