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What Is Bitcoin ?
Who created it?
Someone by the name of Satoshi Nakamoto however no one is sure who this person is and while some have stepped forward claiming to be that person they have all fallen through and still no one yet knows.
Core features of Bitcoin
One of the biggest issues that has been happening recently is the removal of the middle class where you have two extreams the upper middle and high class along with poor. There really is no middle ground anymore in big part to the bank bailout which all tax payers paid banks large sums of money which they then kept and did not give back to the people. A result of this was Bitcoin a system that did not need banks anymore, no more middle man and an even playing field for all.
2. Limited supply
In order to keep prices and demand a supply limit is needed. This supply limit is 21,000,000 for bitcoin. These are minned in blocks which reduces over time and then only fees pay miners.
You can not reverse a bitcoin transaction, once the transaction takes place it can not be taken back. This causes both issues for accidents but also provides security from people issues refunds etc to scam systems as they do with credit cards today.
A single bitcoin is not required to do a transaction, instead it is broken down into its smallest form called a satoshi which is 0.00000001 of a bitcoin