Chapter
₿ Master Bitcoin
Learn what Bitcoin is, how it works, and how ordinary people buy, hold, and secure it safely.
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- What is Bitcoin?Bitcoin is digital money that runs on the internet without any bank or company in charge. Instead of a central…
- The origin storyIn October 2008, someone using the name Satoshi Nakamoto published a short paper titled 'Bitcoin: A…
- Blocks and the chainBitcoin transactions are bundled together into blocks, and each block links to the one before it, forming a…
- Mining and proof of workNew blocks are added by miners, computers that race to solve a hard math puzzle. The puzzle has no shortcut…
- Supply cap and halvingsBitcoin's rules cap the total supply at 21 million coins, and no one can change that without agreement from…
- Keys, wallets, and seed phrasesA Bitcoin wallet does not really store coins. It stores keys. Your public key creates addresses that others…
- Nodes and decentralizationA node is a computer running Bitcoin software that keeps its own full copy of the blockchain and checks every…
- Fees and the mempoolWhen you send bitcoin, your transaction first lands in the mempool, a shared waiting room of pending payments…
- Lightning, scaling, and forksThe main Bitcoin chain is secure but slow, and it can only fit so many payments per block. The Lightning…
- Custody and securityYou can hold bitcoin on an exchange, where the company keeps the keys for you, or in self-custody, where you…
- Risks and scamsBitcoin's price can swing wildly, rising or falling by large amounts in a single week, so only commit money…
- The big pictureMany supporters call Bitcoin 'digital gold', a scarce asset to hold for the long run rather than to spend…