$BTC Decentralized: Unlike traditional currencies issued by governments, Bitcoin is not controlled by any single entity. Its network operates on a distributed ledger technology called blockchain, where transactions are recorded on many computers across the globe.

* Cryptocurrency: Bitcoin uses cryptography for security. This means that transactions are verified and secured by complex mathematical algorithms, making it difficult to counterfeit or double-spend.

* Digital Currency: Bitcoin exists only in digital form. There are no physical coins or banknotes.

* Peer-to-Peer: Transactions occur directly between users (peers) on the Bitcoin network without the need for intermediaries like banks or payment processors.

Key characteristics of Bitcoin:

* Limited Supply: The total number of Bitcoins that can ever be mined is capped at 21 million. This scarcity is a key factor in its perceived value proposition as a digital form of gold.

* Transparency: All Bitcoin transactions are recorded on the public blockchain, which is transparent and immutable (cannot be altered). However, the identities of the users involved in these transactions are pseudonymous, meaning they are not directly linked to real-world identities.

* Mining: New Bitcoins are created through a process called "mining," which involves solving complex computational problems to validate and add new blocks of transactions to the blockchain. Miners are rewarded with newly minted Bitcoins and transaction fees.

* Volatility: The price of Bitcoin has historically been very volatile, experiencing significant and rapid fluctuations.