bitcoins
Decentralized digital currency
Bitcoins are units of Bitcoin, a decentralized digital currency that operates without a central bank or administrator.
Created in 2009 by the pseudonymous Satoshi Nakamoto, bitcoins are generated through a computational process called mining and recorded on a public ledger called the blockchain.
People buy, sell, and hold bitcoins as both a medium of exchange and a speculative investment.
He bought three bitcoins when they were still cheap.
Cryptographic linked transaction record
- walletSmall case for currency
- miningExtracting earth's resources
- halvingDividing into two
- ledgerFinancial record book
decentralized · peer-to-peer · cryptography · nodes · hash · private key · public key · transaction
Insufficiency of something needed
- deflationSustained decrease in prices
- store of valueAsset that maintains worth
- digital goldScarce virtual currency
- inflation hedgeAsset maintaining worth during devaluation
monetary policy · sound money · currency · medium of exchange · purchasing power · remittances · cross-border · unbanked
Rapid, unpredictable changeability
- portfolioCollected works or assets
- bull runTwo Virginia battles
- bear marketProlonged securities decline
- exchangeMutual giving and receiving
trading · speculation · appreciation · diversification · returns · whale · accumulation · dollar-cost averaging
Advocate of extreme positions
- El SalvadorTiny Pacific-coast republic
- pizza dayScheduled serving of Italian flatbread
- laser eyesEye-emitted destructive beams
- memeShared online humor
community · evangelist · adoption · revolution · libertarian · financial freedom · FOMO · Silk Road
Prescribed conduct rules
- encryptionConverting data into code
- SHA-256Cryptographic one-way function
- algorithmFinite problem-solving procedure
- networkInterconnected system
software · hardware wallet · node · fork · upgrade · taproot · smart contracts · scalability
Single-purpose microchip
- difficultyState of being hard
- energy consumptionRate of power use
- rigEquipment arrangement or vehicle
- profitabilityCapacity to generate gain
electricity · cooling · data center · renewable · Kazakhstan · Texas · nonce · competition
blockchain
Cryptographic linked transaction record
ledger · decentralized · peer-to-peer · cryptography · nodes · hash · private key · public key · transaction · confirmation
scarcity
Insufficiency of something needed
- deflationSustained decrease in prices
- store of valueAsset that maintains worth
- digital goldScarce virtual currency
inflation hedge · monetary policy · sound money · currency · medium of exchange · purchasing power · remittances · cross-border · unbanked · hyperinflation
volatility
Rapid, unpredictable changeability
- portfolioCollected works or assets
- bull runTwo Virginia battles
- bear marketProlonged securities decline
exchange · trading · speculation · appreciation · diversification · returns · whale · accumulation · dollar-cost averaging · market cap
maximalist
Advocate of extreme positions
- El SalvadorTiny Pacific-coast republic
- pizza dayScheduled serving of Italian flatbread
- laser eyesEye-emitted destructive beams
meme · community · evangelist · adoption · revolution · libertarian · financial freedom · FOMO · Silk Road · mainstream
protocol
Prescribed conduct rules
- encryptionConverting data into code
- SHA-256Cryptographic one-way function
- algorithmFinite problem-solving procedure
network · software · hardware wallet · node · fork · upgrade · taproot · smart contracts · scalability · throughput
ASIC
Single-purpose microchip
- difficultyState of being hard
- energy consumptionRate of power use
- rigEquipment arrangement or vehicle
profitability · electricity · cooling · data center · renewable · Kazakhstan · Texas · nonce · competition · industrial scale
bitcoinsfiat currency
State-issued unbacked tender
legal tender · US dollars · national currency · euros · yuan
bitcoinspaper money
Currency in bill form
gold coins · cash · coins · banknotes · gold bullion