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What does Bit mean in Bitcoin?

2025-06-07 22:31:57

Bit is a commonly used unit after Bitcoin -- 1,000,000 bits equals 1 Bitcoin. This unit is often more convenient for marking tips, goods and services.

What is Bitcoin?

Bitcoin is a decentralized digital asset. It is a new type of asset that sits alongside traditional assets such as cash, gold, and real estate.

Bitcoin is the first currency that implements the concept of "cryptocurrency". In 2009, Satoshi Nakamoto published the first Bitcoin specification and its proof of concept on the cryptography mailing list.

Introduction to Bitcoin

On October 31, 2008, Satoshi Nakamoto first proposed the concept of Bitcoin. On January 3, 2009, he developed the first client program to implement the Bitcoin algorithm, and the first Bitcoin was born.

How Bitcoin Was Created

Bitcoin is a cryptocurrency based on decentralization, adopts peer-to-peer networks and consensus initiative, open source code, and uses blockchain as the underlying technology.

Introduction to Bitcoin trading methods

Here we only introduce the on-chain transaction method of Bitcoin. The transaction initiator creates a transaction and signs the transaction with a private key. This signature indicates the permission of the Bitcoin owner to the transaction and also ensur