While the general public perceives Bitcoin as some kind of physical looking coin, it is actually far from that. Until today, the true identity of Satoshi Nakamoto has not been verified though there has been speculation and rumor as to who Satoshi might be. The creator is an unknown individual or group that goes by the name Satoshi Nakamoto with the idea of an electronic peer-to-peer cash system as it is written in a whitepaper. The decentralized nature allows it to operate on a peer-to-peer network whereby users are able to send funds to each other without going through intermediaries.įor more information on Bitcoin, do read CoinGecko's How to Bitcoin book. It is unlike government-issued or fiat currencies such as US Dollars or Euro in which they are controlled by the country’s central bank. As such, it can operate without the need of a central authority like a central bank or a company. It is a decentralized digital currency that is based on cryptography. Bitcoin is a cryptocurrency launched in January 2009 with the first genesis block mined on 9th January 2009.
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