bitcoin
noun
- type of digital cryptocurrency
Wiktionary
Pronunciation: /ˈbɪtkɔɪn/ / /ˈbɪtˌkɔɪn/ / [ˈb̥ɪt̚ˌkɔɪ̯n]
name
Etymology: From bit (“binary digit”) + coin, coined by Satoshi Nakamoto, believed to be a pseudonym for one or more people, in the domain name bitcoin.org registered on 18 August 2008; and in the title of the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System”, a link to which was posted on the cryptography mailing list metzdowd.com on October 31, 2008: see the quotation.
- A decentralized cryptocurrency using blockchain technology.
“We do not accept bitcoin at this store.”
“Bitcoin: A Peer-to-Peer Electronic Cash System [title] […] What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. […] In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.”
noun
Etymology: From bit (“binary digit”) + coin, coined by Satoshi Nakamoto, believed to be a pseudonym for one or more people, in the domain name bitcoin.org registered on 18 August 2008; and in the title of the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System”, a link to which was posted on the cryptography mailing list metzdowd.com on October 31, 2008: see the quotation.
- A unit of the bitcoin (proper noun proper noun sense 1) cryptocurrency.
“This item costs one bitcoin.”
“The value of fiat money is determined by legal means (legal tender laws). In other words, fiat money is anything the government says in money. For instance, if the government says an IOU or a bitcoin is money, then it is money. The major currencies of the contemporary world are fiat money.”