What is Bitcoin? Digital, decentralized cryptocurrency No central authority or bank controls it Symbol: BTC ₿
Who Created Bitcoin & When? Created in 2008 by Satoshi Nakamoto (pseudonym) First implementation launched January 2009 Identity remains unknown
What is a Blockchain? Digital ledger of records (blocks) connected in a chain Each block holds transactions Immutable & distributed across many nodes
How Does Bitcoin Work? Users send BTC peer-to-peer Transactions broadcast to network Miners validate & add transactions into blocks Blocks chained together → blockchain
How Are Bitcoins Created (Mining)? Mining = solving cryptographic puzzles (Proof-of-Work) Miner adds block & gets reward Reward halves ~ every 4 years Max supply capped at 21 million BTC
Current Supply & Circulation Total supply cap = 21 million BTC Currently ~19.92 million BTC in circulation Only ~1-2 million BTC remain to be mined
Usage & Transactions Buy, sell, store BTC on exchanges Wallets: hot (online) & cold (offline/hardware) Private key signs transaction, public key verifies
Public & Private Keys Private key = control your BTC (never share) Public key / address = where others send BTC Digital signatures ensure only owner can spend
Why Does Bitcoin Have Value? Scarcity (fixed supply) Demand from users & investors Trust in its network & security Digital gold
Risks of Investing in Bitcoin Highly volatile prices Security risks (wallet hacks, phishing) Regulatory changes or bans Scams & fraud
Bitcoin vs Traditional Currencies Bitcoin: Decentralized, fixed supply, digital only Fiat: Central bank control, can be printed, physical + digital
Pros & Cons Summary Pros: Transparency, fast cross-border payments, no central control, scarcity Cons: Volatility, regulatory uncertainty, scalability, energy use
Environmental Impact Mining consumes large electricity Carbon footprint concerns Some miners use renewables
Altcoins & Other Cryptos Altcoins = other cryptocurrencies besides Bitcoin Examples: Ethereum, Litecoin, Cardano Differences: consensus, purpose, tokenomics
Future Outlook & Discussion Future regulations will matter More institutional adoption likely Layer-2 solutions & scalability upgrades
Sources Blockchain.com – BTC supply charts Crypto.com – Current supply figures Triple-A – Crypto ownership globally Wikipedia – History & Satoshi Nakamoto