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Prevailing bitcoin logo
Prevailing bitcoin logo
Ticker symbol BTC, XBT[b]
Coins Unspent outputs of transactions (in multiples of a satoshi):ch. 5
Original author(s) Satoshi Nakamoto
White paper "Bitcoin: A Peer-to-Peer Electronic Cash System"
Implementation(s) Bitcoin Core
Initial release 0.1.0 / 9 January 2009 (9 years ago)
Latest release 0.16.2 / 29 July 2018 (24 days ago)
Ledger start 3 January 2009 (9 years ago)
Timestamping scheme Proof-of-work (partial hash inversion)
Hash function SHA-256
Issuance Decentralized (block reward)
Block reward ₿12.5[c]
Block time 10 minutes
Block explorer www.blockchain.com
Circulating supply ₿16,858,762 (as of 11 February 2018)
Supply limit ₿21,000,000 
The symbol was encoded in Unicode version 10.0 at position U+20BF ₿ BITCOIN SIGN in the Currency Symbols block in June 2017.
Compatible with ISO 4217.
July 2016 to approximately June 2020, halved approximately every four years
This article contains special characters. Without proper rendering support, you may see question marks, boxes, or other symbols.
Bitcoin (₿) is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator. Bitcoins can be sent from user to user on the peer-to-peer bitcoin network directly, without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin..
In 2013 prices started at $13.30 rising to $770 by 1 January 2014.
In March 2013 the blockchain temporarily split into two independent chains with different rules. The two blockchains operated simultaneously for six hours, each with its own version of the transaction history. Normal operation was restored when the majority of the network downgraded to version 0.7 of the bitcoin software. The Mt. Gox exchange briefly halted bitcoin deposits and the price dropped by 23% to $37 before recovering to previous level of approximately $48 in the following hours.
The US Financial Crimes Enforcement Network (FinCEN) established regulatory guidelines for "decentralized virtual currencies" such as bitcoin, classifying American bitcoin miners who sell their generated bitcoins as Money Service Businesses (MSBs), that are subject to registration or other legal obligations.
In April, exchanges BitInstant and Mt. Gox experienced processing delays due to insufficient capacity resulting in the bitcoin price dropping from $266 to $76 before returning to $160 within six hours.
The bitcoin price rose to $259 on 10 April, but then crashed by 83% to $45 over the next 3 days.
On 15 May 2013, the US authorities seized accounts associated with Mt. Gox ..