Bitcoin is a decentralized digital currency created by the pseudonymous entity Satoshi Nakamoto in 2009. Bitcoin uses peer-to-peer technology to regulate Bitcoin’s balances, transactions and issuance according to consensus in network software. Bitcoins are issued to various nodes that verify transactions through computing power. It is established that there will be a limited and scheduled release of no more than 21 million Bitcoins, which will be fully issued by the year 2140. Bitcoin is currently the most widely used alternative currency with a total market cap at over 140 million USD (12/20/2012).
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