BITCOIN (BTC) Live Price
| Time Period | Price Change (USD) | Price Change (%) |
|---|---|---|
| Today | $ -1451.86 | -1.40% |
| 30 Days | $ 16.36K | +19.09% |
| 60 Days | $ 17.87K | +21.23% |
| 90 Days | $ 5.11K | +5.27% |
Bitcoin (BTC) is a decentralized digital currency introduced in 2008 by an anonymous entity known as Satoshi Nakamoto. It was launched in January 2009 as the first cryptocurrency, operating on a peer-to-peer network without reliance on central authorities like banks or governments. Bitcoin enables secure, borderless transactions through blockchain technology.
Key Features
Bitcoin's decentralized nature means no single entity controls it, with maintenance handled by a distributed network of nodes. The currency has a fixed supply capped at 21 million coins, with new BTC issued through a process called mining that undergoes halving approximately every four years. Transactions are pseudonymous, linked to cryptographic addresses rather than real-world identities, and once recorded on the blockchain, they become immutable and cannot be altered.
Technology
The foundation of Bitcoin lies in its blockchain, a public ledger where transactions are grouped into blocks and cryptographically chained together. The network relies on Proof-of-Work (PoW) consensus, where miners compete to solve complex mathematical problems to validate transactions and earn rewards. For security, Bitcoin uses SHA-256 hashing and public-private key pair cryptography.
Acquiring & Using Bitcoin
Users can obtain Bitcoin through mining by contributing computational power to secure the network and earn rewards. Alternatively, Bitcoin can be bought and sold on exchanges like Coinbase, Binance, or Kraken. For storage, users utilize software wallets such as Electrum or hardware wallets like Ledger to securely manage their holdings.
Economics & Market
Bitcoin is known for its price volatility, with values fluctuating based on demand, adoption rates, and broader macroeconomic factors. Often dubbed "digital gold," Bitcoin is increasingly viewed as a store of value and potential hedge against inflation, drawing comparisons to traditional precious metals.
Challenges & Criticisms
The Proof-of-Work mechanism requires substantial electricity, leading to environmental concerns about Bitcoin's energy consumption. Regulatory approaches vary globally, with some nations like El Salvador embracing it as legal tender while others, including China, have imposed bans. Scalability issues have prompted solutions like the Lightning Network to improve transaction throughput.
Major Events
Bitcoin's history includes landmark moments such as the first real-world transaction in 2010 where 10,000 BTC were exchanged for two pizzas. The 2017 price surge to nearly $20,000 brought mainstream attention, and 2021 saw El Salvador make Bitcoin an official national currency, marking a significant adoption milestone.
Related Terms
Key concepts include Satoshi Nakamoto, Bitcoin's pseudonymous creator, and altcoins which refer to alternative cryptocurrencies like Ethereum and Litecoin. Forks represent blockchain splits, with Bitcoin Cash being a notable example from 2017.
Future Outlook
As a pioneering force in finance and technology, Bitcoin's future hinges on overcoming scalability challenges, achieving regulatory clarity, and gaining wider acceptance. While it continues to influence the digital currency landscape, its long-term role remains shaped by technological evolution and market dynamics.