Bitcoin

Bitcoin is a cryptoasset and peer-to-peer payment system whose public blockchain records transfers of the native unit, bitcoin, without a central ledger operator.

Bitcoin uses proof of work and a distributed network of nodes to validate blocks under shared protocol rules. Control of a bitcoin address depends on private keys, while transaction finality is assessed through accumulating network confirmations rather than reversal by a central administrator. Its market price can be highly volatile, and ownership introduces custody, transaction-fee, network, fraud, and regulatory risks.

Bitcoin transfers are generally irreversible, and loss or disclosure of the controlling private key can result in permanent loss of access.