What is Bitcoin (BTC)?
Bitcoin [BTC] was the first currency that only exists electronically and was released as an open-source software, meaning that anyone can examine the code and participate in the Bitcoin network.
It was introduced by an unknown person called « Satoshi Nakamoto » in the famous « Bitcoin: A peer-to-peer Electronic Cash system » whitepaper. This whitepaper outlined how Bitcoin was to function and which role it’d fulfill. Satoshi Nakamoto, left a pretty clear message in the first-ever Bitcoin block mined: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”.
Not only was Bitcoin created in response to the current economic crisis, but the very first sentence of the whitepaper couldn’t portray its purpose more clearly: “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution”.
Bitcoin removes trusted third parties, giving everyone complete control over their own money.