#BTC #WhiteHouseCryptoSummit #USCcryptoreserve
Bitcoin (BTC) is a decentralized digital currency that was created in 2008 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It operates on a peer-to-peer network, meaning transactions occur directly between users without the need for intermediaries like banks. Bitcoin transactions are secured using blockchain technology, which is a distributed ledger that records all transactions made with the cryptocurrency.
Some key features of Bitcoin include:
Decentralization: Bitcoin is not controlled by any government or central authority.
Limited Supply: There will only ever be 21 million bitcoins in existence, which is designed to prevent inflation.
Blockchain: Bitcoin transactions are verified and recorded on a public ledger called the blockchain, which ensures transparency and security.
Mining: Bitcoin uses a process called mining, where miners use computational power to validate transactions and add them to the blockchain. Miners are rewarded with newly minted bitcoins for their efforts.
Volatility: The price of Bitcoin is known for being highly volatile, which attracts both investors and speculators.
Bitcoin is often used as a store of value or a hedge against inflation, though it is also a popular asset for trading and speculation. Over the years, it has gained mainstream attention, with increasing numbers of businesses and individuals adopting it for payments, investments, and financial services.
