$BTC The key to creating BTC lies in its design, as the number of Bitcoins in circulation cannot increase arbitrarily. Bitcoin is a currency explicitly designed to be scarce.

Thus, it meets the first condition of being considered a currency. However, the second condition remains to be fulfilled, namely acceptance by society.

What does Bitcoin mean?

Bitcoin was created as a way to eliminate government intermediaries from commercial transactions. With this currency, all transactions are governed by digital signatures instead of fiat currencies issued by central banks. In this way, each part of the blockchain comes into play to verify a transaction, making corruption of the system extremely difficult.