What is bitcoin?

Bitcoin
Digital currency, Bit currency
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Bitcoin
Bitcoin logo.svg
Bitcoin-core-v0.10.0.png
Developer Satoshi Nakamoto, Gavin Andresen
Release date February 4, 2009 (8 years)
Stable version 0.13.1 [1] (27 October 2016; 11 months ago)
Trial version [+/-]
Language (s) English, German, Spanish, French, Dutch , Portuguese, Italian and Russian.
Language C ++
Operating System Windows, GNU-Linux, Mac OS X
Genre (s) Digital Currency
License MIT License
Development Status Beta
Size 9.2 MB - 12.4 MB
Bitcoin P2P Virtual Currency.
Bitcoin (symbol: ฿; abrev: BTC or XBT) is a decentralized cryptomoeda presented in 2008 in the discussion group The Cryptography Mailing by a Japanese programmer, or a group of programmers, of pseudonym Satoshi Nakamoto [2] [3] [4] ] [5] [6] It is also an online payment system or network based on an independent open source protocol called the "electronic payment system peer to peer", [7] opened in 2009; It is also open-source software that the group designed to manipulate the currency and its peer-to-peer network (P2P or peer-to-peer).

Unlike most currencies, bitcoin does not depend on the trust of a centralized issuer or a financial institution. Uses a distributed database, scattered over the P2P network (users) to record the transactions. Using open source encryption to provide basic security functions, such as making sure that the cryptomaniac has ownership and semi-anonymous transfer of values, where it can only be spent by the owner, avoiding double overhead and forgery. It also does not rely on trust between different users (network nodes), where anyone can control and monitor a system node.

Bitcoin can be saved to computers or to pen drives in the form of "portfolio files" or as "online wallet services" provided by third parties; and in either case can be sent over the internet to any place in the world or to anyone who has a "bitcoin address", and can transact directly with one another using public key cryptography, without the intermediary of a financial institution. ] Transactions are verified by the P2P network nodes and registered in a distributed public accounting database known as Blockchain. [9]

Because it is autonomous, the United States Treasury has classified it as the world's first decentralized digital currency. The Bitcoin peer-to-peer topology, and the absence of a central management entity, makes it unfeasible for any financial or government authority to manipulate the issuance and value of bitcoins or to induce inflation by "printing" more notes. However, large speculative movements of supply and demand may cause its value to suffer oscillation in the foreign exchange market, the largest of its kind in terms of market value.

Bitcoin is a relatively new, evolving project. For this reason, its developers recommend caution.
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