What is Bitcoin? The first cryptocurrency.

Before answering this question, let's find out what money is.So what ismoney?Money is a technology invented not hundreds or even thousands of years ago, but much earlier. Since people began to trade valuable things, a language has appeared with which they expressed and defined values. Money used to be goods, products, such as a goat or a basket of bananas, and had restrictions, in particular place and time, trade was inconvenient. People also exchanged stones or shells for goods, but they were not divisible and durable. It took hundreds of thousands of years for precious metals such as silver and gold to become truly transformative forms of money that not only had intrinsic value, but were also portable, divisible, reliable, fungible and rare. After thousands of years of using precious metals, the first paper money, also known as fiat currency, began to appear. It took hundreds of years for the world to accept them, because people were shocked, because how can you trade something that has no independent value, for example, like paper in relation to gold and silver. Fiat currencies are very easy to move and circulate, so they were able to propel human civilization into an era of rapid development. However, they have fatal characteristics, unlike the physically limited precious metals. They can easily be printed by the government and cause inflation as prices rise and wealth flows from the people to the government. Also, the centralized banking system has absolute control over people's money and can do whatever it wants. Probably one day you won't be able to withdraw money from the bank because you have no control. Now there is Bitcoin. Emerging with the rapid development of digital and network technologies, it is called digital currency, but it is not just a digital currency. In fact, we already have a digital currency that we use every day. Online transactions, credit cards, electronic checks - they are all digitized fiat currency. Bitcoin is called a cryptocurrency and this significantly distinguishes it from fiat currency. It has all the properties of a currency, portable, divisible, durable and fungible, but in addition it has a limited supply, like gold, and most importantly it is decentralized. Nobody can control him. The total supply of Bitcoins is limited to 21 million coins, and transactions are not dependent on banks or platforms. Transactions are protocol-based and can take place between any computer or mobile device. People who own Bitcoin have absolute control over it. No one can take your Bitcoins and personal data. It is also a very fast and truly international currency with very low transaction fees. The applications that can be built on Bitcoin are unlimited, such as crowdfunding amazing international projects, decentralized marketplaces, peer-to-peer lending, smart contracts, and many more projects to come in the future.

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