# 
What is Bitcoin?

> 
#Bitcoin

**Published by:** [Taifeitang](https://paragraph.com/@taifeitang/)
**Published on:** 2024-12-18
**URL:** https://paragraph.com/@taifeitang/what-is-bitcoin

## Content

Bitcoin is a decentralized digital currency that allows you to buy, sell, and exchange directly without the need for intermediaries such as banks. The founder of Bitcoin, Satoshi Nakamoto, initially described the necessity of an "electronic payment system based on cryptographic proof instead of trust." Every Bitcoin transaction is recorded on a public ledger, accessible to anyone, which makes transactions difficult to reverse and forge. This is by design: because Bitcoin has a decentralized nature, it is not backed by a government or any issuing authority; apart from the evidence embedded in the core of the system, there is nothing guaranteeing its value.

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