Bitcoin is a decentralized digital currency that uses cryptography for security and is not controlled by any government or financial institution. It was created in 2009 by an anonymous individual or group of individuals under the pseudonym Satoshi Nakamoto.

Bitcoin is based on a distributed ledger technology called blockchain, which allows it to operate without a central authority. Transactions are recorded on the blockchain and verified by network nodes through the use of cryptography. These transactions are permanently recorded on the blockchain, making it difficult to fraudulently alter or manipulate the data.

Bitcoins can be used to buy goods and services and are often accepted by online merchants. They can also be traded on various cryptocurrency exchanges for other currencies, including traditional fiat money.

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