![]() ![]() El Salvador has adopted Bitcoin as legal tender, although use by merchants remains low. A few governments have used bitcoin in some capacity. Nine countries have fully banned bitcoin use, while a further fifteen have implicitly banned it. The legality of bitcoin varies by region. The Wall Street Journal, The Chronicle of Higher Education, and the Oxford English Dictionary advocate the use of lowercase bitcoin in all cases. No uniform convention for bitcoin capitalization exists some sources use Bitcoin, capitalized, to refer to the technology and network and bitcoin, lowercase, for the unit of account. It is a compound of the words bit and coin. The word bitcoin was defined in a white paper published on 31 October 2008. 1īitcoin has been described as an economic bubble by at least eight Nobel Memorial Prize in Economic Sciences recipients. The currency began use in 2009, when its implementation was released as open-source software. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Without proper rendering support, you may see question marks, boxes, or other symbols.īitcoin ( Abbreviation: BTC sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. This article contains special characters. Initially ₿50 per block, halved every 210,000 blocks "Bitcoin: A Peer-to-Peer Electronic Cash System" Ġ.1.0 / 9 January 2009 (13 years ago) ( )Ģ3.0 / 25 April 2022 (4 months ago) ( ) Not to be confused with "฿" for Thai baht. ![]()
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