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What is bitcoin?

Bitcoin is a digital, encrypted currency that eliminates all intermediaries in transactions and works in a way that makes it all completely anonymous, secure, and unhackable (that is, in theory).

The cryptocurrency was launched in January 2009 at the height of the economic crisis, when the US dollar was significantly depreciated and considered by many to be close to collapse. He was created by Satoshi Nakamoto, at least that’s the pseudonym he used. No one knows who he is, which is both good and bad.

Some even speculate that it could have been Elon Musk, which he denies, which is also not very logical if you go through his comment history on the matter. There are more suitable candidates, but no one really knows who he/she is and whether this person is still alive today.

Cryptocurrency is controlled by everyone and no one – no matter who wants it. It’s complicated, and we’ll come back to all this later. The prospects for bitcoin are great, but its many side effects have so far limited widespread adoption. However, improvements to another cryptocurrency could soon change the world.