Bitcoin was first introduced in 2008 when Satoshi Nakamoto released the Bitcoin whitepaper via a cryptography mailing list. The first block, otherwise known as the genesis block, was mined by Satoshi on January 3rd, 2009.
Bitcoin is the first cryptocurrency. It is a digital currency that operates with blockchain technology to record transactional history. Bitcoins are mined through computational solutions to mathematical problems.
Ultimately, the goal of Bitcoin, by the whitepaper, is to eliminate the need for banks, government, and other central authorities. It was created to act as a decentralized peer-to-peer payment system that is transparent and secure against corruption.
It is hard to define Bitcoin. Some say it is a digital currency, and others say it is the start of financial freedom. Bitcoins’ beauty is in the eye of the beholder.
Learn more about Bitcoin in our helpful guide.
