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Bitcoin is a decentralized digital currency that enables peer-to-peer transactions without the need for a central authority. It was developed in 2009 by Satoshi Nakamoto, an unidentified person or group.

Bitcoin is based on a distributed ledger technology called blockchain, which records in blocks and verifies all transactions linked together in a chain, forming a transparent and secure record of all activity on the network.

Bitcoin is not controlled by any government or centralized institution. Instead, it is supported by a network of computers that validate and secure transactions, and can be used to store value and transfer funds worldwide.