Understanding Bitcoin

Bitcoin is a digital currency that operates on a decentralized system. It was created in 2009 by an anonymous person or group known as Satoshi Nakamoto. Bitcoin transactions are recorded on a public ledger called the blockchain, which ensures the security and transparency of the system. Bitcoin has gained popularity as an alternative to traditional currency due to its potential for anonymity, low transaction fees, and lack of government control. However, it is also known for its volatility and potential for use in illegal activities.