🔹 What is Bitcoin?
Bitcoin is a decentralized digital currency created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. It allows peer-to-peer transactions over a decentralized network without relying on banks or intermediaries.
🔹 KEY FEATURES :-
LIMITED SUPPLY: Only 21 million BTC will ever exist.
BLOCKCHAIN TECHNOLOGY: Transactions are recorded on a public, tamper-proof ledger.
DECENTRALIZED: No central authority; secured by miners and nodes around the world.
PSEUDONYMOUS: Transactions are public, but identities aren't directly tied to addresses.
DIVISIBLE: You can own fractions of a BTC (down to 0.00000001 btc, called a satoshi).
🔹 HOW IT WORKS :-
Transactions are made using a BTC wallet (software or hardware).
Miners validate transactions by solving cryptographic puzzles (Proof of Work).
Once confirmed, transactions are added to the blockchain.
🔹 WHY PEOPLE USE OR INVEST IN BTC :-
STORE OF VALUE: Often called "digital gold".
HEDGE AGAINST INFLATION: Fixed supply.
BORDERLESS PAYMENTS: Fast global transfers.
SPECULATIVE INVESTMENT: High volatility attracts traders.
🔹 RISKS AND CHALLENGES :-
Price Volatility
Regulatory Uncertainty
Scalability Issues
Security Risks (e.g., wallet hacks)