# About Bitcoin

By [Untitled](https://paragraph.com/@0x51936d6f66f83150989611c2c21a7ea2891fba33) · 2024-01-19

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[Bitcoin](https://coinmarketcap.com/alexandria/article/an-intro-to-bitcoin) is a decentralized [cryptocurrency](https://coinmarketcap.com/alexandria/article/what-are-cryptocurrencies) originally described in a 2008 [whitepaper](https://coinmarketcap.com/alexandria/glossary/whitepaper) by a person, or group of people, using the alias [Satoshi Nakamoto](https://coinmarketcap.com/alexandria/article/who-is-satoshi-nakamoto). It was launched soon after, in January 2009.

[Bitcoin](https://coinmarketcap.com/alexandria/article/what-is-bitcoin) is a peer-to-peer online currency, meaning that all [transactions](https://coinmarketcap.com/alexandria/article/how-long-does-a-bitcoin-transaction-take) happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”

Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the [first-ever cryptocurrency](https://coinmarketcap.com/alexandria/article/a-beginner-s-guide-to-investing-in-cryptocurrencies) to come into actual use.

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*Originally published on [Untitled](https://paragraph.com/@0x51936d6f66f83150989611c2c21a7ea2891fba33/about-bitcoin)*