Intro to Bitcoin

Bitcoin was the world’s first cryptocurrency.

Created in response to the Great Recession of 2008, pseudonymous developer(s) Satoshi Nakamoto launched Bitcoin in 2009. 

In Satoshi’s whitepaper, he describes an open, censorship-resistant network, offering peer-to-peer payments anywhere on earth. We may not know the true identity of Satoshi Nakamoto, but his intention for cryptocurrency is well documented: 

“I’ve developed a new P2P e-cash system called Bitcoin. It’s completely decentralized, with no central server, or trusted parties, because everything is based on crypto proof instead of trust.” -Satoshi Nakamoto

Bitcoin allows anyone to send and receive digital money quickly and without the need to trust in another entity to manage the funds. 

A bitcoin can be divided into its smallest unit known as “sats” (short for “satoshis”). One “sat” equals 0.00000001 BTC. Some BTC buyers consider it to be an anti-inflationary store of value, much like gold; this is because there will only ever be 21 million bitcoin in supply, as it is written in the code.

Download XDEFI Wallet browser extension here

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