Bitcoin

Bitcoin is the pioneer of cryptocurrencies, introduced in 2008 by an anonymous entity or group named Satoshi Nakamoto.

Key Features

Decentralized: Bitcoin operates on blockchain technology, a decentralized ledger enforced by a disparate network of computers.

Peer-to-Peer: Bitcoin transactions happen directly between users without a central authority, like a bank or government.

Limited Supply: The total number of bitcoins that will ever be mined is capped at 21 million. This scarcity mimics the properties of physical commodities like gold.

Pseudonymous: Transactions and accounts are not connected to real-world identities. You receive Bitcoins on so-called addresses, which are randomly seeming chains of around 30 characters.

Immutable: Once data has been written to the Bitcoin blockchain, it becomes virtually immutable. This means that transactions are permanent and can't be changed.

Usage

Bitcoin can be used for a wide range of purposes such as online purchases, investment, remittance, and even as a means of raising funds for projects. Due to its decentralized nature, it's particularly useful in countries with unstable economies or strict capital controls.

Watchouts!
Organisations or individuals which claim to be "The next bitcoin" or "More efficient than bitcoin."
Entities which claim that bitcoin is bad for the environment.