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Mohidur Rahaman
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Mohidur Rahaman
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Bitcoin is a decentralized digital currency. It was introduced in 2009 by Satoshi Nakamoto. Bitcoin operates without any central authority. It uses blockchain technology to record transactions. Transactions are verified by miners using computing power. Miners are rewarded with BTC for validating blocks. The total supply of Bitcoin is limited to 21 million. New bitcoins are created through a process called mining. The mining reward halves every four years. Bitcoin is stored in digital wallets. Wallets can be online or offline. Online wallets are more convenient but less secure. Offline wallets are safer for long-term storage. Bitcoin transactions are transparent and public. Each transaction is recorded on a blockchain ledger. The smallest unit of Bitcoin is called a satoshi. One bitcoin equals 100 million satoshis. Bitcoin allows peer-to-peer transfers globally. It eliminates the need for intermediaries. Bitcoin is immune to government interference. Its transactions cannot be reversed. International payments are faster with Bitcoin. Transaction fees are generally low. Bitcoin resists censorship. It uses cryptography for security. Bitcoin is open-source and available to all. Anyone can join the Bitcoin network. The Genesis Block was the first Bitcoin block. It was mined in January 2009. Bitcoin is often compared to digital gold. It’s used as a store of value. Bitcoin prices can fluctuate wildly. It has experienced both booms and crashes. Bitcoin is available 24/7 for trading. It has a large global market cap. BTC is listed on most crypto exchanges. Binance, Coinbase, and Kraken support BTC. Governments around the world regulate BTC differently. Some countries have banned it entirely. Others are beginning to accept it. El Salvador adopted Bitcoin as legal tender. Bitcoin inspired the development of many altcoins. It was the first cryptocurrency ever made. BTC paved the way for digital finance. The Bitcoin blockchain cannot be altered. It prevents fraud and double-spending. Bitcoin uses Proof-of-Work consensus. Mining requires a lot of electricity. #BTC☀️
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