What is Bitcoin?

Bitcoin in 60 Seconds

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Decentralized

No central bank or government controls Bitcoin

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Secure

Protected by cryptography and distributed consensus

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Scarce

Only 21 million Bitcoin will ever exist

Bitcoin vs Traditional Money

Supply

Unlimited (Fiat) → 21M (Bitcoin)

Control

Central Banks → Network Consensus

Transactions

Slow & Expensive → Fast & Global

Privacy

Banks Track All → Pseudonymous

Key Bitcoin Statistics

Total Supply 21,000,000 BTC

Circulating Supply Loading...

Block Time ~10 minutes

Network Hashrate Loading...

Active Nodes Loading...

Last updated: Loading...

How Bitcoin Works

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1. Transaction

User creates a transaction

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2. Broadcast

Transaction sent to network

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3. Mining

Miners validate & add to block

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4. Blockchain

Block added to chain

The Problem

Traditional electronic payments rely on trust in financial institutions to mediate disputes. This increases transaction costs, limits the minimum practical transaction size, and eliminates the possibility of small casual transactions.

The Solution

Bitcoin is a peer-to-peer electronic cash system that allows online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required.

Proof of Work

The proof-of-work system involves scanning for a value that when hashed, begins with a number of zero bits. The average work required is exponential in the number of zero bits required and can be verified by executing a single hash.

Key Innovations

🔗 Blockchain: Immutable ledger of all transactions
⛏️ Mining: Consensus mechanism through proof-of-work
🔐 Cryptography: Digital signatures ensure security
🌐 Decentralization: No single point of failure
💰 Scarcity: Fixed supply of 21 million Bitcoin

Original White Paper

"Bitcoin: A Peer-to-Peer Electronic Cash System" by Satoshi Nakamoto

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Why Bitcoin Mining Matters

Understanding your role in the Bitcoin network and why mining is more than just earning Bitcoin.

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Network Guardian

Your miner validates transactions and keeps Bitcoin secure

Why it matters: You're not just earning Bitcoin, you're protecting the network

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Every Block Counts

Each block you help mine secures thousands of transactions

Why it matters: Your small miner contributes to Bitcoin's global security

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Decentralization in Action

Your miner gives you a voice in Bitcoin's consensus

Why it matters: You're part of the largest distributed network in history

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Mining Economy

Block rewards and fees create the mining incentive

Why it matters: Understanding this helps you make smart mining decisions

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Your Bitcoin Journey

From miner to network participant to Bitcoin advocate

Why it matters: You're joining a community that's changing money forever

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Network Security

Your hash power defends against attacks and ensures consensus

Why it matters: Every miner makes Bitcoin more secure and resilient

Common Bitcoin Myths

❌ "Bitcoin is Anonymous"

Bitcoin transactions are pseudonymous, not anonymous. All transactions are publicly visible on the blockchain.

✅ Reality: Bitcoin provides privacy through pseudonymity, not complete anonymity.

❌ "Bitcoin is Only for Criminals"

This myth persists despite evidence showing Bitcoin is used primarily for legitimate purposes.

✅ Reality: Bitcoin is used by millions for legitimate transactions, investments, and remittances.

❌ "Bitcoin Has No Intrinsic Value"

Critics claim Bitcoin has no backing, ignoring its utility as a decentralized payment system.

✅ Reality: Bitcoin's value comes from its utility, scarcity, and network effects.

❌ "Bitcoin is Too Volatile"

While Bitcoin can be volatile, this is common for emerging technologies and assets.

WHAT IS BITCOIN?