Bitcoin is a digital currency, also known as a cryptocurrency, that is based on decentralized, peer-to-peer technology. It was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin transactions are recorded on a public ledger called the blockchain, which is maintained by a network of computers around the world, rather than by a central authority like a bank or government. Unlike traditional currency, Bitcoin operates independently of banks and governments, which makes it more resistant to censorship and manipulation. It can be used to purchase goods and services online, as well as to transfer money internationally without the need for a middle man. However, its value can be volatile and subject to fluctuations, making it a risky investment.