Bitcoin

Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.

DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person

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The clouds are beginning to clear for the U.S. economy. (MabelAmber/Pixabay)

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Notional open interest in BTC options tied to U.S. elections. (Amberdata)

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David Tse, an engineering professor at Stanford University who co-founded Babylon, a Bitcoin staking protocol (Bradley Keoun)

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BTC price, Aug. 19 2024 (CoinDesk)

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Tokyo, Japan (Ryo Yoshitake/Unsplash)

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Catizen. (Catizen)

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