Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.

Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto, and started in 2009 when its source code was released as open-source software.

The Lowest price of Bitcoin was in January 2009 when it was first traded at $0.008.

Since then, the price of Bitcoin has been on a steady rise with some corrections along the way. As of September 2019, the price of Bitcoin is around $10,000.

While there is no certain answer as to why the price of Bitcoin has been rising steadily, there are a few theories. One theory is that as more people become aware of and interested in Bitcoin, demand increases and so does the price.

Another theory is that as Bitcoin becomes more widely accepted by businesses and governments, it becomes more valuable. Whatever the reason may be, it is clear that Bitcoin has come a long way since its early days, and its price is only expected to continue to rise.

Bitcoin mining is a process of verifying and adding transaction records to the public ledger called the blockchain. Bitcoin miners are people who own computers that constantly verify and add these records.

In return for their time and processing power, they are rewarded with newly minted bitcoins.

The process of verifying and adding transactions to the blockchain is resource intensive. In order to be profitable, miners need to have access to cheap, reliable electricity and high-performance computers.

Bitcoin mining is often compared to running a race. The faster your computer can process information, the more likely you are to win the race and earn bitcoins.

There are two main types of miners: those who own dedicated mining hardware and those who mine with their personal computers.

Dedicated mining hardware, such as an ASIC (Application Specific Integrated Circuit), is designed specifically for mining bitcoin. ASICs are very efficient at mining and offer a significant performance advantage over CPUs (Central Processing Units) and GPUs (Graphics Processing Units).

Personal computers are not as efficient at mining as dedicated mining hardware, but they can still be profitable. In order to be profitable, miners need to have access to cheap electricity and high-performance computers.

Bitcoin is a cryptocurrency and a payment system, first proposed by an anonymous person or group of people under the name Satoshi Nakamoto in 2008.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as “miners,” are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin.

These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million.

One bitcoin is divisible to eight decimal places (100 millionth of one bitcoin), and this smallest unit is referred to as a satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places.