Back to Course
Beginner
Lesson 1 of 1

What is Bitcoin?

100% Complete

Bitcoin's Core Properties

15 min
Introduction

Bitcoin represents a breakthrough in monetary technology, combining the best properties of previous money with new capabilities only possible in the digital realm.

Main Content

Digital Scarcity: For the first time in history, we have a digital asset with provable, absolute scarcity. Only 21 million bitcoins will ever exist.

Decentralization: No single entity controls Bitcoin. It operates through a distributed network of nodes worldwide.

Immutability: Bitcoin transactions, once confirmed, cannot be reversed or censored. The ledger becomes increasingly immutable over time.

Transparency: All transactions are publicly visible on the blockchain, enabling unprecedented auditability.

Programmability: Bitcoin can execute basic smart contracts and is programmable money that follows predetermined rules.

Global Accessibility: Bitcoin works the same everywhere, 24/7, without borders or restrictions.

Self-Sovereignty: You can hold and transfer Bitcoin without permission from any authority.

Key Takeaways
  • Bitcoin achieves digital scarcity for the first time
  • Decentralization removes single points of failure
  • Immutability provides finality and security
  • Self-sovereignty returns monetary control to individuals