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 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.
According to CoinDesk’s Bitcoin Price Index, the price of a single bitcoin peaked at $1,165.89 on November 29, 2013.
NOTE: Warning: Before discussing who is the wealthiest Bitcoin owner, it is important to remember that this information is not publicly available and can be difficult to verify. Therefore, any claims or assertions made about the wealthiest Bitcoin owner should be taken with a grain of salt. Additionally, speculating about the identity of a wealthy Bitcoin holder can open up the potential for fraud or other malicious activities.
This represented a more than 1,000% increase in value since the beginning of the year. However, the price then fell by about 50% over the next three months before stabilizing around $600 in January 2014.
The identity of Satoshi Nakamoto is unknown. Though it is possible that he is a pseudonym for one or more people, there is no way to know for sure. In October 2008, Nakamoto published a paper on The Cryptography Mailing list at metzdowd.com describing the Bitcoin protocol.
It was titled “Bitcoin: A Peer-to-Peer Electronic Cash System”. On January 3rd, 2009, Nakamoto mined the first block of the Bitcoin blockchain, known as the genesis block.
Nakamoto is estimated to own 1 million bitcoins, which would give him a net worth of $1 billion at today’s prices. However, it is not known if he is still alive or if he has ever sold any of his bitcoins.
If Nakamoto does own 1 million bitcoins, he would be the richest person in cryptocurrency.
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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.
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.
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 is unique in that there are a finite number of them: 21 million.
Bitcoin is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. Bitcoin is unique in that there are a finite number of them: 21 million.
