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What is Bitcoin?

Bitcoin is a virtual currency, invented in 2009 by Satoshi Nakamoto. It is the first ever peer-to-peer version of electronic money that has solved the double-spending problem. Bitcoin represents an important innovation within the payment industry, since it doesn’t require any fiduciary third party in order to transfer money among users. Satoshi Nakamoto developed Bitcoin as an alternative to the traditional financial system, largely functioning through layers of intermediaries, with the goal to build a system based on trust, creating the foundation for a new monetary ecosystem, completely digital and based on the cryptographic proof.