What is Bitcoin? Details
Bitcoin [a] ( ₿ ) is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto . Bitcoin was the first cryptocurrency to successfully record transactions on a secure, decentralized blockchain-based network . Bitcoins are created as a reward for a process known as mining . They can be exchanged for other currencies, products, and services, but the real-world value of the coins is extremely volatile. Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.