# Bitcoin 

*Satoshi Nakamoto*

By [karti91.eth](https://paragraph.com/@karti91.eth) · 2023-09-07

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Bitcoin is a decentralized cryptocurrency, invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. It started to be used in 2009 when its implementation was released as open-source software. Bitcoin transactions are made with no middlemen (meaning, no banks), and these transactions can be pseudonymous. Transactions are verified by network nodes through cryptography and recorded on a public ledger called a blockchain. Bitcoin can be exchanged for other currencies, products, and services. It has been praised for its potential to disrupt traditional financial systems, but it has also been criticized for its association with illegal activities, its high energy consumption, and potential for facilitating money laundering and fraud. Bitcoin remains the largest cryptocurrency by market capitalization. However, the value of Bitcoin is highly volatile and investing in it can be risky.

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*Originally published on [karti91.eth](https://paragraph.com/@karti91.eth/bitcoin)*