Bitcoin

Bitcoin, also known as Bitcoin, is a form of currency proposed by Satoshi Nakamoto in 2008. It is an electronic currency generated by open-source P2P software. Bitcoin is a virtual currency on the internet that can be used to cash out [96], and its credit is not supported by any individual or organization, but is based on natural algorithms and belongs to natural credit currency.  [89]
On November 1, 2008, Satoshi Nakamoto released the Bitcoin white paper "Bitcoin: A Peer to Peer Electronic Cash System," stating his new vision for electronic currency. On January 3, 2009, Satoshi Nakamoto mined the first block of Bitcoin, known as the "Genesis Block," and received a first mining reward of 50 bitcoins. On July 17, 2010, MTGOX, the world's largest Bitcoin trading website, was established with a unit price of less than 0.05 US dollars. In February 2023, the International Monetary Fund formulated a nine point action plan: not to grant official or legal tender status to cryptocurrencies such as Bitcoin. On April 18, 2024 at 14:00 (GMT+8 time), Binance NFT will cease to support Bitcoin NFT trading and recharge services.  [154]
Compared with fiat currency, bitcoin does not have a fixed issuer, but is generated by the calculation of network nodes. Anyone may participate in the production of bitcoin, and it can circulate all over the world. It can be bought and sold on any computer connected to the Internet. No matter where you are, anyone can mine, buy and sell, or use bitcoin, and the transaction record is open and transparent [28]. The total quantity of Bitcoin is limited, and the currency system was once limited to no more than 10.5 million within 4 years, with the total quantity permanently limited to 21 million thereafter. Bitcoin has verified the technical feasibility of electronic currency, created a new payment experience through pure software and peer-to-peer methods, and also created a new third-party accounting model.