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 by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
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 often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency.
It is the largest of its kind in terms of total market value.
Bitcoin whales are investors who hold large amounts of bitcoin. They can impact the market by selling or buying large amounts of bitcoin, which can cause the price to go up or down.
Some people believe that bitcoin is controlled by whales because they can manipulate the market. However, it is important to remember that bitcoin is a decentralized currency, which means that no one group or individual can control it.