Summary
- Bitcoin is a currency.
What is Bitcoin?
Bitcoin is a currency.
What's unique about Bitcoin?
What makes Bitcoin unique is that the supply of the currency is limited (at 21 million coins) and transactions of the currency occur peer-to-peer (i.e. without the need of a central entity, such as the Bank of England).
Competition
| Item | Bitcoin | Ethereum | US Dollar |
|---|---|---|---|
| Does the currency operate on a decentralised network? | Yes | Yes | No |
| Is the supply of the currency limited? | Yes | No | No |