Topic
What is bitcoin?
Last reviewed:
- Quick fact 1
Bitcoin started in 2009. Its creator used the name Satoshi Nakamoto, and nobody knows for sure who that is.
- Quick fact 2
No more than 21 million bitcoin will ever exist. That limit is written into its rules.
- Quick fact 3
Thousands of computers around the world run Bitcoin. No company or government owns it.
The short lesson
Bitcoin was the first cryptocurrency. It's two things at once: a network of computers and the digital money that moves on that network.
The network keeps a shared record of every bitcoin payment ever made. Each computer on the network keeps a copy of that record. When someone sends bitcoin, the computers check the payment and add it to the record in a new "block." Blocks link together in order, which is why it's called a blockchain.
Some computers, called miners, compete to add each new block. Their work makes it very hard for anyone to rewrite old payments. In return, the network pays them in new bitcoin. This is how new bitcoin enters the world, and it will stop once the 21 million limit is reached.
You don't have to own a whole bitcoin. One bitcoin can be split into 100 million tiny pieces, called satoshis.
Many people search "what is bitcoin" just to check its price. This page never shows or predicts a price. Prices change every minute, and they don't tell you how the system works. What matters for a beginner is this:
- Bitcoin payments are public, but they show wallet addresses, not names.
- Sending bitcoin is usually final.
- Whoever holds the keys controls the bitcoin.
Related terms
Common questions
Who created Bitcoin?
A person or group using the name Satoshi Nakamoto published the idea in 2008 and launched the network in 2009. Their real identity is still unknown.
Who controls Bitcoin?
No single person or company. Thousands of computers follow the same open rules, and changing those rules needs wide agreement.
Do you have to own a whole bitcoin?
No. A bitcoin can be split into 100 million pieces called satoshis.
Is Bitcoin anonymous?
Not fully. Every payment is public on the blockchain. Payments show wallet addresses instead of names, but those addresses can often be traced back to people.