Bitcoin | Definition/ˈbitˌkoin/
Bitcoin is a peer to peer digital currency | altcoins | 529 plan | tax lien | account | expense | economy | pension | 401(k) | lender | wealth | return | grant | asset | check | fafsa | will | wage | fdic | bank | loan | bond | fund | spac | debt | loan | atm | definitionsthat makes use of a public ledger to verify and transact between two or more people.
Next word Uniform Gift to Minors Act Account (UGMA) | Definition ᐳ
Underpinning the accounting behind the Bitcoin currency is a publicly managed technology called Blockchain, which gives the general public the ability to earn Bitcoin by participating in verifying transactions.
- Launched in 2009, bitcoin is the world's largest cryptocurrency by market capitalization.
- Unlike fiat currency, bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system, known as a blockchain.
- Bitcoin's history as a store of value has been turbulent; it has gone through several cycles of boom and bust over its relatively short lifespan.
- As the earliest virtual currency to meet widespread popularity and success, bitcoin has inspired a host of other cryptocurrencies in its wake.