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Bitcoin
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{{infobox cryptocurrency | currency_name = Bitcoin | image_1 = File:Bitcoin.svg | image_2 = | image_width_1 = 150 | image_width_2 = 110 | image_title_1 = Official logo of Bitcoin | alt1 = Prevailing bitcoin logo | precision = 10<sup>−8</sup> | subunit_ratio_1 = {{frac|1000}} | subunit_name_1 = Millibitcoin | subunit_ratio_2 = {{frac|{{val|1000000}}}} | subunit_name_2 = Microbitcoin | subunit_ratio_3 = {{frac|{{val|100000000}}}} | subunit_name_3 = {{lang|ja-Latn|Satoshi|italic=no}}<ref name="satoshi unit">{{cite web |last=Mick |first=Jason |date=12 June 2011 |title=Cracking the Bitcoin: Digging Into a $131M USD Virtual Currency |url=http://www.dailytech.com/Cracking+the+Bitcoin+Digging+Into+a+131M+USD+Virtual+Currency/article21878.htm |url-status=dead |archive-url=https://archive.today/20130120051306/http://www.dailytech.com/Cracking+the+Bitcoin+Digging+Into+a+131M+USD+Virtual+Currency/article21878.htm |archive-date=20 January 2013 |access-date=30 September 2012 |publisher=Daily Tech}}</ref> | plural = Bitcoins | symbol = '''₿'''<br/>(Unicode: {{unichar|20BF|BITCOIN SIGN|html=}}){{efn|group=infobox|Encoded [[Unicode]] version 10.0 (2017) in [[Currency Symbols (Unicode block)|Currency Symbols block]]<ref name="unicode-10">{{cite web |date=20 June 2017 |title=Unicode 10.0.0 |url=https://www.unicode.org/versions/Unicode10.0.0/ |url-status=live |archive-url=https://web.archive.org/web/20170620130342/http://www.unicode.org/versions/Unicode10.0.0/ |archive-date=20 June 2017 |access-date=20 June 2017 |publisher=Unicode Consortium}}</ref>}} | code = BTC,{{efn|group=infobox|Very early software versions used the code "BC".}} XBT{{efn|group=infobox|Compatible with ISO 4217.}} | implementations = [[#Software implementation|Bitcoin Core]] | initial_release_version = 0.1.0 | initial_release_date = {{Start date and age|df=yes|2009|1|9|p=y}} | code_repository = {{URL|https://github.com/bitcoin/bitcoin}} | status = Active | latest_release_version = 25.1 | latest_release_date = {{Start date and age|df=yes|2023|10|19|p=y}}<ref>{{cite web|title=Bitcoin Core Releases |url=https://github.com/bitcoin/bitcoin/releases/ |via=[[GitHub]]|access-date=24 October 2023}}</ref> | forked_from = | programming_languages = C++ | operating_system = | author = [[Satoshi Nakamoto]] | developer = | white_paper = [https://bitcoin.org/bitcoin.pdf "Bitcoin: A Peer-to-Peer Electronic Cash System"]<ref name="paper" /> | source_model = [[Free and open-source software]] | license = [[MIT License]] | website = {{URL|https://bitcoin.org}} | ledger_start = {{Start date and age|df=yes|2009|1|3|p=y}} | hash_function = [[SHA-256]] (two rounds) | circulating_supply = ₿18,925,000{{efn|group=infobox|As of 2022-01-10}} | supply_limit = ₿21,000,000<ref>{{cite web |last=Nakamoto |display-authors=et al |date=1 April 2016 |title=Bitcoin source code – amount constraints |website=[[GitHub]] |url=https://github.com/bitcoin/bitcoin/blob/08a7316c144f9f2516db8fa62400893f4358c5ae/src/amount.h |url-status=live |archive-url=https://web.archive.org/web/20180701112835/https://github.com/bitcoin/bitcoin/blob/08a7316c144f9f2516db8fa62400893f4358c5ae/src/amount.h |archive-date=1 July 2018}}</ref>{{efn|The supply will approach, but never reach, ₿21 million. Issuance will permanently halt {{circa}} 2140 at ₿20,999,999.9769.<ref name="Antonopoulos2014">{{Cite book |last=Antonopoulos|first= Andreas M. |title=Mastering Bitcoin: Unlocking Digital Crypto-Currencies |year=2014 |publisher=O'Reilly Media |isbn=978-1-4493-7404-4 |author-link=Andreas Antonopoulos}}</ref>{{rp|ch. 8}}}} | timestamping = [[Proof-of-work]] (partial hash inversion) | issuance_schedule = Decentralized (block reward)<br />Initially ₿50 per block, halved every 210,000 blocks<ref name="JSC">{{cite web |date=19 November 2013 |title=Statement of Jennifer Shasky Calvery, Director Financial Crimes Enforcement Network United States Department of the Treasury Before the United States Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on National Security and International Trade and Finance Subcommittee on Economic Policy |url=https://www.fincen.gov/sites/default/files/2016-08/20131118.pdf |url-status=live |archive-url=https://web.archive.org/web/20161009183700/https://www.fincen.gov/sites/default/files/2016-08/20131118.pdf |archive-date=9 October 2016 |access-date=1 June 2014 |website=fincen.gov |publisher=Financial Crimes Enforcement Network}}</ref> | block_time = 10 minutes | block_reward = ₿6.25{{efn|group=infobox|May 2020 to approximately 2024, halved approximately every four years}} | exchange_rate = Floating | market_cap = <!--A reliable source is required --> | footnotes = {{notelist|group=infobox}} | using_countries = El Salvador<ref name="BTCSVSept7FT"/> }} One of the best ways to maintain the purchasing power of a currency is through decentralisation, and Bitcoin is designed to leverage this by operating on a distributed network, minimising central control and potential points of failure. Bitcoin is a currency. What makes the currency unique is that it's the most popular cryptocurrency. Research suggests that the most popular cryptocurrency will maintain its purchasing power for much longer than any other currency. In other words, the cryptocurrency will be a much better currency. The degree of risk associated with an investment in Bitcoin is 'medium', with the investment having an adjusted beta that is 42% above the market (1.42 vs. 1). Assuming Bitcoin's share of the money supply increases to 10% (from 2.2%) and other assumptions, then the Stockhub users estimate that the expected return of an investment in Bitcoin over the next five years is 5x, which equates to an annual return of 39%. In other words, an £100,000 investment in the asset is expected to return £500,000 in five years time. Assuming that a suitable return level over five years is 39% per year or less, and Bitcoin achieves its expected return level (of 39%), then an investment in Bitcoin is considered to be an 'suitable' one. '''Fun fact:''' In 2010, a programmer named Laszlo Hanyecz made the first known commercial Bitcoin transaction by buying two pizzas for 10,000 Bitcoins, a sum now worth millions of dollars.
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