What is Bitcoin?

To cut through some of this confusion surrounding bitcoin, then we will need to divide it into two parts. 

On the 1 hand, you've got bitcoin-the-token, a snippet of code which represents ownership of an electronic concept -- kind of like a digital IOU. 

On the flip side, you've got bitcoin-the-protocol, a dispersed network that keeps a ledger of accounts of bitcoin-the-token. 

The machine enables payments to be routed between users without passing via a central authority, like a lender or payment gateway.  It's made and held . 

Bitcoins are not published, for example dollars or euros -- they are made by computers all over the planet, using free software.

Read More - How To Buy Bitcoin Anonymously

It was the very first instance of what we call cryptocurrencies, an increasing asset category that shares some features of classic monies, with confirmation based on cryptography.Who made it? 

A pseudonymous software programmer going by the title of Satoshi Nakamoto suggested bitcoin from 2008, within a digital payment method based on mathematical evidence.  For this day, nobody knows who Satoshi Nakamoto is.