# BITCOIN

By [schrodinger7cat](https://paragraph.com/@schrodinger7cat) · 2023-01-06

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Bitcoin is a decentralized digital currency with no central bank or single administrator. Transactions can be made by sending bitcoins from user to user on the bitcoin network in a peer-to-peer (P2P) fashion, without the need for an intermediary. The transactions are verified by network nodes, and all Bitcoin transactions are recorded in a decentralized ledger called the blockchain.

Bitcoin was invented in 2008 by a person or group calling itself Satoshi Nakamoto, and its implementation was released as open source software and put into use in 2009.

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*Originally published on [schrodinger7cat](https://paragraph.com/@schrodinger7cat/bitcoin)*