An anonymous idealist published a paper in 2008 describing a digital currency, and the system was introduced as open-source software in 2009. Four years later, the value of all bitcoins reached billions of dollars. Bitcoin operates without a central authority or banks, relying on peer-to-peer technology and a collective network to manage transactions and issue new coins. Its public nature means it is not controlled by any government or bank.
The Bitcoin Phenomenon
A pioneering paper was published in 2008 by an anonymous author, Satoshi Nakamoto, outlining a digital currency and online payment system. By 2009, the concept was open-source, and just four years later, the value of all bitcoins exceeded billions of dollars.
