🔥Bitcoin The Currency That Defies Banks
What is $BTC ?
Bitcoin (BTC) is a cryptocurrency, which means it is a digital form of money. But what makes it special? Here are the key points:
✔Decentralization: Unlike traditional currencies (such as the dollar or euro), Bitcoin is not controlled by a single individual, group or government. It works on a decentralized system called blockchain.
✔Blockchain: Imagine a digital ledger where all transactions are recorded. This is the blockchain! It's like a public notebook that anyone can see. When you send or receive bitcoins, it is noted in this ledger.
✔Mining: No, not with pickaxes! Bitcoin miners use powerful computers to solve complex mathematical problems. When they succeed, they are rewarded with new bitcoins. It's like a digital treasure hunt! 🕵️ ♂️
✔Limited supply: There will only be 21 million bitcoins. It's like owning a limited-edition digital gold. This scarcity makes it valuable.
✔Satoshi Nakamoto: The mysterious creator (or creators) of Bitcoin used the pseudonym Satoshi Nakamoto. No one knows their origin! 🕶️
Interesting facts about $BTC 😲
✔Genesis Block: The first Bitcoin block, mined on 3 January 2009, contains a hidden message: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." It's like a historical time stamp! ⏰
✔Halving: Every 210,000 blocks, the Bitcoin reward for miners is halved. It's like a digital countdown. The last half took place in May 2020, and the next is expected in April 2024. 🎉
✔Satoshi's White Paper: Bitcoin's Magna Carta! Satoshi Nakamoto's white paper entitled "Bitcoin: A Peer-to-Peer Electronic Cash System" presented the blueprint for Bitcoin's operation. 📜
