What is the meaning of Bitcoin?

[Servalead7]

Meaning taken from Wikipedia:

Bitcoin
* is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto.
* It was released as open-source software in 2009.
* The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.

* Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.

* As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

link: https://en.wikipedia.org/wiki/Bitcoin

[Servalead7]

Meaning taken from coindesk:

Bitcoin
* is a form of digital currency, created and held electronically.
* No one controls it.
* Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.

* Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.

However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is decentralized. No single institution controls the bitcoin network. This puts some people at ease, because it means that a large bank can’t control their money.

link: http://www.coindesk.com/information/what-is-bitcoin/

[Servalead7]

Meaning taken from Dictionary:

BITCOIN

bitcoin
bit·coin
ˈbitˌkoin

noun: bitcoin; plural noun: bitcoins

* a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
"bitcoin has become a hot commodity among speculators"

* a unit of bitcoin.
"bitcoins can be used for online transactions between individuals"

[tinhyeumaunang]

Meaning taken from Dictionary:

BITCOIN

bitcoin
bit·coin
ˈbitˌkoin

noun: bitcoin; plural noun: bitcoins

* a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
"bitcoin has become a hot commodity among speculators"

* a unit of bitcoin.
"bitcoins can be used for online transactions between individuals"

Multiple meanings or hidden behind a cluster from bitcoin, how exciting. For me bitcoin simply carries a meaning as the currency benefits.

[leonair]

Besides of your copy and paste meanings of Bitcoin,

Bitcoin is the first ever decentralized crypto currency that has been created since 2008 by Satoshi Nakamoto and its main objective for me of is that making a currency in the digital world for faster, reliable, securable, anonymous etc.

[nizamcc]

In simplest words, Bitcoin is a derived experiment out of scratch that was meant to give complete financial authorities in your hands, just so you can feel that you are your own bank. It is something that has a value and gets inflated every time someone gets into it.
It is a method of transferring "digital tokens" from one account to another based on reflected values one asks for, and on the other hand get services or goods against it.

[Kprawn]

If you lazy to read : https://www.youtube.com/watch?v=pxE9dwg2vEM

Bitcoin is a digital cryptocurrency made up of processed data blocks used for online and brick-and-mortar purchases. Because bitcoins are limited and their value is determined by market forces, bitcoins are also traded like stocks on various exchanges.

Relatively new and experimental, bitcoin is described as “the first decentralized digital currency.”

Source : https://www.techopedia.com/definition/27193/bitcoin

https://support.coinbase.com/customer/portal/articles/1823285-what-is-bitcoin-

[Servalead7]

Meaning taken from CNNMoney:

Bitcoin
* is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto.
* Transactions are made with no middle men – meaning, no banks!
* There are no transaction fees and no need to give your real name.
* More merchants are beginning to accept them....

Why Bitcoins?

Bitcoins can be used to buy merchandise anonymously.
In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.

link: http://money.cnn.com/infographic/technology/what-is-bitcoin/

[Zoebwolf96]

Well im new to this site..as well as to bitcoin.. can anybody help me or just give me a link directed to a forum which is already created for newbs like me..
Thank you.. appreciated ur advice (in advance)

[Servalead7]

link: https://bitcoin.org/en/faq#what-is-bitcoin

Quote:

What is Bitcoin?

Bitcoin is a consensus network that enables a new payment system and a completely digital money.
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.
From a user perspective, Bitcoin is pretty much like cash for the Internet.
Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

Who created Bitcoin?

Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.

Satoshi's anonymity often raised unjustified concerns, many of which are linked to misunderstanding of the open-source nature of Bitcoin. The Bitcoin protocol and software are published openly and any developer around the world can review the code or make their own modified version of the Bitcoin software. Just like current developers, Satoshi's influence was limited to the changes he made being adopted by others and therefore he did not control Bitcoin. As such, the identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper.

[Servalead7]

Well im new to this site..as well as to bitcoin.. can anybody help me or just give me a link directed to a forum which is already created for newbs like me..
Thank you.. appreciated ur advice (in advance)

https://bitcointalk.org

Visit that link and select your topics there.
You can choose Bitcoin Discussion and many more.
Enjoy reading & Keep updated!
Have a nice day!

[Servalead7]

Another link: https://www.lifewire.com/what-are-bitcoins-2483146

Bitcoin
- the virtual banking currency of the internet – has existed for several years now and many people have questions about them.

What Are Bitcoins?
Bitcoins are electronic currency, otherwise known as 'cryptocurrency'.
Bitcoins are a form of digital public money that is created by painstaking mathematical computations and policed by millions of computer users called 'miners'.

Bitcoins are, in essence, electricity converted into long strings of code that have money value.

[Servalead7]

Bitcoin explained in layman's terms

Bitcoins
* is a form of virtual currency- meaning, if you have bitcoins, you do not physically purchase goods by handing notes or tokens to the seller. Bitcoins are used for electronic purchases and transfers.

visit this link:
http://profit.ndtv.com/news/your-money/article-bitcoin-explained-in-laymans-terms-376029

[Servalead7]

This link from: https://www.techopedia.com/definition/27193/bitcoin

Definition - What does Bitcoin mean?

Bitcoin is a digital cryptocurrency made up of processed data blocks used for online and brick-and-mortar purchases. Because bitcoins are limited and their value is determined by market forces, bitcoins are also traded like stocks on various exchanges.

Relatively new and experimental, bitcoin is described as “the first decentralized digital currency.”

Techopedia explains Bitcoin

Bitcoins are generated after a block of data is processed, creating a block of transactional data in the bitcoin network. This is accomplished through a bitcoin mining client, although this function is no longer adequately performed via a regular central processing unit (CPU). The forecasted number of produced bitcoins is 21 million with an expected completion date of 2040.

Bitcoins may be purchased or sold over the bitcoin network and are considered secure because during each transfer, each bitcoin must be cryptographically signed. A bitcoin user is required to employ a public key, private key and bitcoin address for each transaction that occurs as a peer-to-peer transfer.

The bitcoin concept was invented by Satoshi Nakamoto, although virtually nothing is known about him. In 2010, Nakamoto withdrew from the Bitcoin Project.

[frowsiter]

Bitcoin is block of processed data which is transmitted over the internet protocol after being solved by mining units at miners place. These bitcoins are digitally traded and can be used to buy services and goods in the internet world.

For me bitcoin is also a virtual fiat currency which can be converted to physical dollars within gone day of time. Bitcoin is almost a ideal currency with all the characteristics such as value, listing in the stock exchange, and big fan club. 

[Paashaas]

Making a profit from Bitcoin is nice but the most important meaning is financial freedom.

What Satoshi created is one of the most important tools in human history. Blockchain will be very disruptive and is part of the 4th industrial revolution.

Just wait until the people starting to realize what the difference is between Bitcoin and fiat 

[coinenthu]

coin based on the transaction information in terms of bits of data

[bitllionaire]

In simplest words, Bitcoin is a derived experiment out of scratch that was meant to give complete financial authorities in your hands, just so you can feel that you are your own bank. It is something that has a value and gets inflated every time someone gets into it.
It is a method of transferring "digital tokens" from one account to another based on reflected values one asks for, and on the other hand get services or goods against it.

so
yes that is right, in fact bitcoin is a currency and from currency we mean the papers that represent some value and we use it for buying some thinks. so bitcoin is a currency which is use specially for online purposes.

[ghost07]

a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
"bitcoin has become a hot commodity among speculators"
a unit of bitcoin.
"bitcoins can be used for online transactions between individuals"

[Ctn]

Thanks to everybody who replied until now. Many of your posts are giving great information if read carefully. Bitcoin is digital and it carries specific price in the market depending upon how the volume of trade is going on. Being digital currency it can make you purchases from various sites.