Bitcoin is a decentralized digital currency, created in 2009 by an unknown person using the alias Satoshi Nakamoto. It allows for peer-to-peer transactions without the need for a central authority. Bitcoin transactions are recorded on a public ledger called the blockchain.

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The concept of decentralized transactions is what sets Bitcoin apart from traditional fiat currencies. The blockchain technology behind it ensures transparency and security, making it an attractive option for those seeking financial freedom.