Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain.
Bitcoin is unique in that there are a finite number of them: 21 million.
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.
The unit of account of the bitcoin system is a bitcoin. Ticker symbols used to represent bitcoin are BTC and XBT.
Its Unicode character is ₿.
Small businesses may like bitcoins because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
You can abbreviate Bitcoin several ways, the most common being BTC. Other ways include XBT and ₿.