Bitcoin is
a worldwide cryptocurrency and digital payment
system called the first decentralized digital
currency, as the system works without a central repository or single
administrator. it was invented by an unknown person or group of people
under the name satoshi nakamoto and released as open-source software in 2009. the
system is peer-to-peer, and transactions take place
between users directly, without an intermediary.[8]:4 these
transactions are verified by network nodes and
recorded in a public distributed ledger called a blockchain.
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
can also be held as an investment. According to research produced by cambridge university in 2017, there
are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them
using bitcoin
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