The Digital Gold Rush: 7 Things You Need to Know About Bitcoin

Bitcoin is a decentralized digital currency that allows for peer-to-peer transactions without the need for intermediaries. It was first introduced in January 2009, by an unknown person or group of people going by the name Satoshi Nakamoto. Transactions are verified through a process called mining, where powerful computers compete to solve complex mathematical equations and add transaction data to the blockchain, a public ledger. The maximum supply of Bitcoin is set at 21 million, with a projected reach by 2140. The price of Bitcoin is determined by supply and demand on various exchanges, and can be bought and sold using fiat currencies or other cryptocurrencies. Although Bitcoin has been criticized for its volatility and association with illegal activities, it has supporters who believe it has the potential to disrupt traditional financial systems and has various other potential uses in industries like Supply Chain, Logistics, Real-estate, voting system etc.