What is Bitcoin?

Bitcoin is the next evolution in money. It’s a 21st century monetary technology that will outlast our fiat currency system. Bitcoin is money for a type one civilization.

Bitcoin is not just a currency, it is a complete reworking of our global monetary system.

It is the first digital system of money that is completely decentralized.

Decentralized means its spread out, it exists everywhere, and no one is in control. This is the biggest differentiator between bitcoin and everything else that has ever existed.

Bitcoin is a decentralized P2P transaction technology. It’s Peer-to-peer because there’s no one in the middle of the person you’re transacting with. Bitcoin is self running computer code which facilitates transaction automatically. It’s an independent third party software which holds no allegiances, and runs completely on its own.

Bitcoin is an electronic peer-to-peer cash system based on a distributed digital ledger called a blockchain or timechain. The ledger includes transactions approved by the peer-to-peer network instead of a central authority.

Bitcoin Magazine

But bitcoin isn’t just money, it’s isn’t just a digital asset, and it’s not just a software.

Bitcoin is a network. An internet protocol, and a technology stack. It’s layers upon layers of different apps, software, hardware, networks, companies, services and tools, which together form unstoppable globally public monetary infrastructure. It’s a global bank, a global monetary system and a global financial system.

The reason bitcoin is so revolutionary is because it’s so unique. There’s never been a money that’s both digital and uncontrollable. Engineered from the ground up to have all around superior monetary properties, and exist within an entire network of trustless protocols facilitating payments and contracts all running on their own.

Bitcoin is a reinvention of money itself.

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