Everything you need to know about Bitcoin

1. Definition: Bitcoin is a decentralized digital currency, meaning it operates on a peer-to-peer network without a central authority.

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2. Creation: Bitcoin was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto.

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3.Transactions: Transactions in Bitcoin are recorded on a public ledger called the blockchain.

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4. Limited supply: There is a limited supply of 21 million bitcoins, with about 19.28 million currently in circulation.

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5. Mining: New bitcoins are created through a process called mining, where individuals solve complex mathematical problems to validate transactions and earn newly minted bitcoins as a reward.

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6. Security: Bitcoin uses cryptographic technique to secure transactions and control the creation of new units.

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7. Volatility: The price of Bitcoin is highly volatile and has fluctuated greatly since its creation.

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8. Adoption: Bitcoin is accepted by a growing number of merchants and individuals, but its widespread use as a currency is still limited.

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9. Controversy: Bitcoin has been criticized for its association with illegal activities and lack of regulation, as well as its high energy consumption due to mining.

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10. Alternatives: There are many alternative cryptocurrencies that have been created, also called "altcoins," which are also traded and used similar to Bitcoin.

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