{"id":287,"date":"2025-08-30T02:15:48","date_gmt":"2025-08-29T17:15:48","guid":{"rendered":"https:\/\/coindetailshub.com\/?p=287"},"modified":"2025-08-30T02:15:53","modified_gmt":"2025-08-29T17:15:53","slug":"what-is-bitcoin","status":"publish","type":"post","link":"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/","title":{"rendered":"What is Bitcoin: Understanding Bitcoin in 5 Minutes"},"content":{"rendered":"<p><em>This page provides an at-a-glance overview of Bitcoin (BTC), including its concepts, history, structure, mining methods, controversies, and more. <strong>Encyclopedic content<\/strong>is the value.<\/em><br><em>This page is written in Korean Standard Time (KST).<\/em><\/p>\n\n\n\n<p>\u26a0\ufe0f <strong>This article is a compilation of Bitcoin-related information organized for learning and research purposes. <u>Unofficial content<\/u>is the value.<\/strong><br>\n<strong>\u26a0\ufe0f is not intended to be a solicitation of investment, and investment judgment and responsibility are solely yours.<\/strong><br>\n<strong>\u26a0\ufe0f The trading and utilization of Bitcoin may be restricted by the regulatory and legal environment of each country. Be sure to check your local laws.<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/coindetailshub.com\/wp-content\/uploads\/2025\/08\/bitcoin-encyclopedia-guide-thumbnail.png\" alt=\"What is Bitcoin A gold coin with a B on it and a blurry chart behind it.\" class=\"wp-image-289\" srcset=\"https:\/\/coindetailshub.com\/wp-content\/uploads\/2025\/08\/bitcoin-encyclopedia-guide-thumbnail.png 1024w, https:\/\/coindetailshub.com\/wp-content\/uploads\/2025\/08\/bitcoin-encyclopedia-guide-thumbnail-300x225.png 300w, https:\/\/coindetailshub.com\/wp-content\/uploads\/2025\/08\/bitcoin-encyclopedia-guide-thumbnail-768x576.png 768w, https:\/\/coindetailshub.com\/wp-content\/uploads\/2025\/08\/bitcoin-encyclopedia-guide-thumbnail-16x12.png 16w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EB%B9%84%ED%8A%B8%EC%BD%94%EC%9D%B8%EC%9D%B4%EB%9E%80_%EB%AC%B4%EC%97%87%EC%9D%BC%EA%B9%8C%EC%9A%94\" title=\"What is Bitcoin?\">What is Bitcoin?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EB%B8%94%EB%A1%9D%EC%B2%B4%EC%9D%B8_%EB%AA%A8%EB%91%90%EC%9D%98_%EC%9E%A5%EB%B6%80\" title=\"Blockchain, everyone&#039;s ledger\">Blockchain, everyone's ledger<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EB%B9%84%ED%8A%B8%EC%BD%94%EC%9D%B8%EC%9D%98_%ED%83%84%EC%83%9D_%EB%B0%B0%EA%B2%BD\" title=\"How Bitcoin came to be\">How Bitcoin came to be<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EB%B9%84%ED%8A%B8%EC%BD%94%EC%9D%B8_%EA%B5%AC%EC%A1%B0%EC%9D%98_%EA%B8%B0%EB%B3%B8_%EB%B8%94%EB%A1%9D%EC%B2%B4%EC%9D%B8_%EB%B0%9C%ED%96%89%EB%9F%89_%EB%B0%98%EA%B0%90%EA%B8%B0_%EB%82%9C%EC%9D%B4%EB%8F%84\" title=\"The basics of Bitcoin&#039;s structure: Blockchain, issuance, halving, and difficulty.\">The basics of Bitcoin's structure: Blockchain, issuance, halving, and difficulty.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EC%A0%95%EC%B1%85%C2%B7%EC%A0%95%EC%B9%98_%ED%83%80%EC%9E%84%EB%9D%BC%EC%9D%B8_2025_%EA%B8%B0%EC%A4%80_%EC%9A%94%EC%95%BD\" title=\"Policy - Political timeline (summarized as of 2025)\">Policy - Political timeline (summarized as of 2025)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%ED%83%88%EC%A4%91%EC%95%99%ED%99%94Decentralization%EC%9D%98_%EC%9D%98%EB%AF%B8\" title=\"What does Decentralization mean?\">What does Decentralization mean?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EC%B1%84%EA%B5%B4%EC%9D%B4%EB%9E%80\" title=\"What is mining?\">What is mining?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EC%82%AC%ED%86%A0%EC%8B%9C_%EB%82%98%EC%B9%B4%EB%AA%A8%ED%86%A0%EC%99%80_%EB%B3%B4%EC%9C%A0%EB%9F%89\" title=\"Satoshi Nakamoto and holdings\">Satoshi Nakamoto and holdings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EB%B9%84%ED%8A%B8%EC%BD%94%EC%9D%B8%EC%9D%98_%EB%B0%9D%EC%9D%80_%EB%A9%B4%EA%B3%BC_%EB%8B%A4%EA%B0%80%EC%98%AC_%EB%AF%B8%EB%9E%98\" title=\"Bitcoin&#039;s bright side and what&#039;s to come\">Bitcoin's bright side and what's to come<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EC%B1%84%EA%B5%B4%EC%9D%84_%EB%91%98%EB%9F%AC%EC%8B%BC_%EA%B0%88%EB%93%B1%EA%B3%BC_%EC%96%B4%EB%91%90%EC%9A%B4_%EB%A9%B4\" title=\"The conflict and dark side of mining\">The conflict and dark side of mining<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EC%97%90%EB%84%88%EC%A7%80_%EC%82%AC%EC%9A%A9_%EB%85%BC%EB%9E%80\" title=\"Energy use controversies\">Energy use controversies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EC%A7%80%EC%97%AD_%EA%B0%88%EB%93%B1\" title=\"Regional conflicts\">Regional conflicts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EC%8A%A4%EC%BA%A0%EC%82%AC%EA%B8%B0_%EC%9A%B0%EB%A0%A4\" title=\"Scam (fraud) concerns\">Scam (fraud) concerns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EA%B0%80%EA%B2%A9_%EB%B3%80%EB%8F%99%EC%84%B1\" title=\"Price volatility\">Price volatility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EB%B0%88%EC%BD%94%EC%9D%B8_%EA%B4%80%EB%A0%A8_%EC%A3%BC%EC%9D%98\" title=\"Cautions for Memecoin\">Cautions for Memecoin<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EC%9E%90%EC%A3%BC_%EB%AC%BB%EB%8A%94_%EC%A7%88%EB%AC%B8_FAQ\" title=\"Frequently asked questions (FAQ)\">Frequently asked questions (FAQ)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EB%AF%B8%EA%B5%AD%EA%B3%BC_%ED%8A%B8%EB%9F%BC%ED%94%84_%EA%B4%80%EB%A0%A8_%EC%B5%9C%EC%8B%A0_%EC%9D%B4%EC%95%BC%EA%B8%B0_2025_%EC%97%85%EB%8D%B0%EC%9D%B4%ED%8A%B8\" title=\"The latest stories about the US and Trump (updated 2025)\">The latest stories about the US and Trump (updated 2025)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EB%B0%B1%EC%95%85%EA%B4%80%C2%B7%EC%97%B0%EB%B0%A9_%EC%A0%95%EC%B1%85_%EB%8F%99%ED%96%A5\" title=\"White House - Federal Policy Trends\">White House - Federal Policy Trends<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%ED%8A%B8%EB%9F%BC%ED%94%84_%EB%B0%8F_%EA%B0%80%EC%A1%B1%EC%9D%98_%ED%81%AC%EB%A6%BD%ED%86%A0_%EC%82%AC%EC%97%85_%ED%99%95%EB%8C%80\" title=\"Trump and family expand crypto business\">Trump and family expand crypto business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EA%B3%B5%EC%8B%9D_%EB%B0%88%EC%BD%94%EC%9D%B8%EA%B3%BC_ETF_%EC%B6%94%EC%A7%84\" title=\"Official Memecoin and ETF push\">Official Memecoin and ETF push<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EC%9C%A4%EB%A6%AC%C2%B7%EA%B7%9C%EC%A0%9C_%EC%9D%B4%EC%8A%88\" title=\"Ethical and regulatory issues\">Ethical and regulatory issues<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%EA%B8%80%EC%93%B4%EC%9D%B4%EC%9D%98_%EC%8B%9C%EC%84%A0_%E2%9C%8D%EF%B8%8F\" title=\"Author&#039;s Note \u270d\ufe0f\">Author's Note \u270d\ufe0f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/coindetailshub.com\/en\/what-is-bitcoin\/#%ED%95%9C_%EC%A4%84_%EC%9A%94%EC%95%BD\" title=\"One-line summaries\">One-line summaries<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%B9%84%ED%8A%B8%EC%BD%94%EC%9D%B8%EC%9D%B4%EB%9E%80_%EB%AC%B4%EC%97%87%EC%9D%BC%EA%B9%8C%EC%9A%94\"><\/span>What is Bitcoin?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bitcoin is a cryptocurrency created in 2009 by Satoshi Nakamoto, a man who went by the pseudonym <strong>The world's first decentralized digital currency<\/strong>. While the words \"cryptocurrency\" or \"virtual currency\" are now in common usage, Bitcoin is more than just \"internet money\", it's also a <strong>Technological and philosophical experiments<\/strong>Interest <strong>A challenge to the financial system<\/strong>is the value.<\/p>\n\n\n\n<p>Bitcoin's biggest feature is the \"<strong>Send and receive money without a bank or centralized authority<\/strong>\". In the past, when we made cross-border transfers or payments, we had to go through intermediaries like banks, payment gateways, and credit card companies, and were subject to fees and delays in processing. But with Bitcoin, we can use the <strong>Person-to-person (P2P)<\/strong> method is designed to make it easy to send money to anyone in the world with an internet connection.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%B8%94%EB%A1%9D%EC%B2%B4%EC%9D%B8_%EB%AA%A8%EB%91%90%EC%9D%98_%EC%9E%A5%EB%B6%80\"><\/span>Blockchain, everyone's ledger<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Transaction records are stored in a public, decentralized ledger called a blockchain, which is a <strong>Replicated and shared by many computers (nodes) around the world<\/strong>Rather than a centralized ledger controlled exclusively by a single entity, it's a public ledger maintained by multiple entities. This makes it virtually impossible to manipulate records and creates a \"transparent system\" where anyone can verify transactions at any time.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>Bitcoin is digital cash that can be spent on the internet, and a public ledger system that everyone runs together.<\/strong><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%B9%84%ED%8A%B8%EC%BD%94%EC%9D%B8%EC%9D%98_%ED%83%84%EC%83%9D_%EB%B0%B0%EA%B2%BD\"><\/span>How Bitcoin came to be<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bitcoin's emergence was driven by the <strong>2008 Global Financial Crisis<\/strong>. The crisis caused banks, financial institutions, and even central governments to lose trust in one fell swoop, leaving many people wondering, \"Why should we trust banks absolutely?\"<\/p>\n\n\n\n<p>Satoshi Nakamoto designed Bitcoin with the philosophy of \"don't trust, trust the system\" in mind.<br>On January 3, 2009, the **Genesis Block** was created, with the following message inscribed in it<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>\"The Times 03\/Jan\/2009 Chancellor on brink of second bailout for banks\"<\/strong><\/p>\n<\/blockquote>\n\n\n\n<p>This is a headline from The Times, a British newspaper, addressing the issue of \"bank bailouts are on the table again\". By including this message in Bitcoin's first block, it was a symbolic declaration of criticism of the existing financial system and the beginning of a new alternative.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%B9%84%ED%8A%B8%EC%BD%94%EC%9D%B8_%EA%B5%AC%EC%A1%B0%EC%9D%98_%EA%B8%B0%EB%B3%B8_%EB%B8%94%EB%A1%9D%EC%B2%B4%EC%9D%B8_%EB%B0%9C%ED%96%89%EB%9F%89_%EB%B0%98%EA%B0%90%EA%B8%B0_%EB%82%9C%EC%9D%B4%EB%8F%84\"><\/span>The basics of Bitcoin's structure: Blockchain, issuance, halving, and difficulty.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bitcoin is a <strong>Code and consensus rules<\/strong> It operates with the exact structure designed below.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Blockchain<\/strong> All transactions are bundled into a block, which is linked to the previous block. The blocks are connected like a chain.<\/li>\n\n\n\n<li><strong>Total issue limit<\/strong> : bitcoin is converted to <strong>21 million in total<\/strong>After that, no further issuance is possible, making them scarce and valuable.<\/li>\n\n\n\n<li><strong>Halving<\/strong> The reward miners receive for creating blocks is <strong>Structure halved approximately every four years<\/strong>is the value:<ul><li>2009: 50 BTC<\/li><li>2012: 25 BTC<\/li><li>2016: 12.5 BTC<\/li><li>2020: 6.25 BTC<\/li><li>2024: 3.125 BTC (as of today)<\/li><\/ul>The halving structure acts to curb inflation by reducing the amount of new issuance over time.<\/li>\n\n\n\n<li><strong>Adjusting the difficulty level<\/strong> : new blocks are averaged <strong>to be generated every 10 minutes.<\/strong>and the chain is <strong>Auto-adjust difficulty about every two weeks (2016 blocks)<\/strong>for each block. If the block generation rate gets too fast, increase the difficulty, if it slows down, decrease it to maintain a constant rate.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%A0%95%EC%B1%85%C2%B7%EC%A0%95%EC%B9%98_%ED%83%80%EC%9E%84%EB%9D%BC%EC%9D%B8_2025_%EA%B8%B0%EC%A4%80_%EC%9A%94%EC%95%BD\"><\/span>Policy - Political timeline (summarized as of 2025)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>2025-01-23<\/strong> - White House releases roadmap to foster digital assets and blockchain industry. <a href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/01\/strengthening-american-leadership-in-digital-financial-technology\/\" target=\"_blank\" rel=\"noreferrer noopener\">Documentation<\/a><\/li>\n\n\n\n<li><strong>2025-03-06<\/strong> -. <em>Strategic Bitcoin Reserve<\/em> and <em>US Digital Assets Stockfile<\/em> Executive order announcement (bulk management and retention frame for forfeited and seized assets). <a href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/03\/establishment-of-the-strategic-bitcoin-reserve-and-united-states-digital-asset-stockpile\/\" target=\"_blank\" rel=\"noreferrer noopener\">Documentation<\/a> -. <a href=\"https:\/\/www.investopedia.com\/examining-trump-s-strategic-bitcoin-reserve-11718655\" target=\"_blank\" rel=\"noreferrer noopener\">Commentary<\/a><\/li>\n\n\n\n<li><strong>2025-07-18<\/strong> -. <em>GENIUS Act<\/em> Signatures (stablecoin governance). <a href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2025\/07\/fact-sheet-president-donald-j-trump-signs-genius-act-into-law\/\" target=\"_blank\" rel=\"noreferrer noopener\">Factsheets<\/a><\/li>\n\n\n\n<li><strong>2025-07-30<\/strong> - White House releases follow-up to crypto 'golden age' roadmap (without details of federal digital asset stockpile). <a href=\"https:\/\/abcnews.go.com\/US\/white-house-unveils-crypto-policy-roadmap-meant-usher\/story?id=124215664\" target=\"_blank\" rel=\"noreferrer noopener\">ABC coverage<\/a><\/li>\n\n\n\n<li><strong>2025-08<\/strong> - Federal statistics (some GDP data) blockchain deployment pilot coverage. <a href=\"https:\/\/finance.yahoo.com\/news\/us-puts-gdp-data-blockchain-133040323.html\" target=\"_blank\" rel=\"noreferrer noopener\">Articles<\/a><\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%ED%83%88%EC%A4%91%EC%95%99%ED%99%94Decentralization%EC%9D%98_%EC%9D%98%EB%AF%B8\"><\/span>What does Decentralization mean?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>At the core of what made Bitcoin truly innovative was its \"decentralization.\" \"Rejecting centralization\" wasn't just a slogan, it was a philosophy that underpinned the system.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bankless transfers<\/strong> - Send money directly between individuals, no longer going through banks.<\/li>\n\n\n\n<li><strong>Systems outside of government control<\/strong> - Even if a country bans Bitcoin, it can't stop the system completely because there are tons of nodes around the world running with copies.<\/li>\n\n\n\n<li><strong>Censorship Resistance<\/strong> - While bank accounts can be frozen by court order or government requirement, Bitcoin wallets are protected by the <strong>Private key<\/strong>only the person with the <strong>No one can stop you from owning your assets.<\/strong><\/li>\n\n\n\n<li><strong>Consensus and math instead of trust<\/strong> - It's characterized as \"a system that doesn't trust people, it trusts code and math.\"<\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>Bitcoin is \"a currency that doesn't trust people, it trusts a system.<\/strong><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%B1%84%EA%B5%B4%EC%9D%B4%EB%9E%80\"><\/span>What is mining?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Mining Bitcoin is not the same as panning for gold by breaking rocks to find gold. It's a different activity. <strong>Computers around the world compete to solve math puzzles at the same time<\/strong>is the value.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>When individuals could mine<\/strong> - In the early days, it was possible to mine with a personal computer or laptop. Just like <strong>Scratch a lottery ticket and only the first prize winner gets the money<\/strong>in the past.<\/li>\n\n\n\n<li><strong>Current Mining Structure: Mining Pools<\/strong> - The difficulty is now so high that it's almost impossible to do it alone, so miners use the <strong>Mining pools<\/strong>to solve the problem together and, if successful, to use the <strong>Share rewards based on your percentage of contribution.<\/strong><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\"Solve a big problem with a calculator with a group of people, dividing up the pieces according to the amount of computation\"<\/p>\n<\/blockquote>\n\n\n\n<p>This means that in the real world, \"<strong>Everyone spins the giant calculator to solve the problem, and we share the labor.<\/strong>\".<br>Miners aren't just in it for the rewards, <strong>The critical \"security guard\" that keeps your network secure<\/strong> You're fulfilling your role.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%82%AC%ED%86%A0%EC%8B%9C_%EB%82%98%EC%B9%B4%EB%AA%A8%ED%86%A0%EC%99%80_%EB%B3%B4%EC%9C%A0%EB%9F%89\"><\/span>Satoshi Nakamoto and holdings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The person who created Bitcoin, <strong>Satoshi Nakamoto<\/strong>is still a mystery to this day - it could be an individual, it could be a team.<\/p>\n\n\n\n<p>Interestingly, the coin Satoshi is believed to have mined himself in his early days is called <strong>Approximately 1 million<\/strong>which is equivalent to tens of billions of dollars in today's dollars, but surprisingly, the <strong>So far, it has barely moved once.<\/strong><br>If these coins were to hit the market all at once, it would be a huge shock, but they've been dormant for so long that they're considered something of a legend.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%B9%84%ED%8A%B8%EC%BD%94%EC%9D%B8%EC%9D%98_%EB%B0%9D%EC%9D%80_%EB%A9%B4%EA%B3%BC_%EB%8B%A4%EA%B0%80%EC%98%AC_%EB%AF%B8%EB%9E%98\"><\/span>Bitcoin's bright side and what's to come<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Digital gold (store of value)<\/strong> - The total amount is limited, making it a \"scarce asset\" like gold.<\/li>\n\n\n\n<li><strong>Leveraging country units<\/strong> - El Salvador will adopt Bitcoin in 2021 <strong>Fiat currency<\/strong>as the default.<\/li>\n\n\n\n<li><strong>Technology Extensions - Lightning Network<\/strong> - While the main chain is slow, second-layer technologies like the Lightning Network have enabled micropayments and instant payments.<\/li>\n\n\n\n<li><strong>Going institutional - the US case<\/strong> - Approval of the first Bitcoin futures ETF in 2021, followed by a series of spot Bitcoin ETFs (Akon, Valkyrie, ProShares, etc.) in 2025.<\/li>\n\n\n\n<li><strong>Expanding financial inclusion<\/strong> - Providing new financial access in areas lacking banking infrastructure.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%B1%84%EA%B5%B4%EC%9D%84_%EB%91%98%EB%9F%AC%EC%8B%BC_%EA%B0%88%EB%93%B1%EA%B3%BC_%EC%96%B4%EB%91%90%EC%9A%B4_%EB%A9%B4\"><\/span>The conflict and dark side of mining<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%97%90%EB%84%88%EC%A7%80_%EC%82%AC%EC%9A%A9_%EB%85%BC%EB%9E%80\"><\/span>Energy use controversies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It's been pointed out that mining uses a lot of electricity, which is a huge environmental burden.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%A7%80%EC%97%AD_%EA%B0%88%EB%93%B1\"><\/span>Regional conflicts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Sometimes mining sites use a lot of electricity in a given area, which can lead to neighborhood backlash or regulatory controversy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%8A%A4%EC%BA%A0%EC%82%AC%EA%B8%B0_%EC%9A%B0%EB%A0%A4\"><\/span>Scam (fraud) concerns<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Bitcoin itself is transparent, but scam projects, fake exchanges, and hacks using it are constantly popping up.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EA%B0%80%EA%B2%A9_%EB%B3%80%EB%8F%99%EC%84%B1\"><\/span>Price volatility<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Prices can go up and down rapidly, posing great risk to investors.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%B0%88%EC%BD%94%EC%9D%B8_%EA%B4%80%EB%A0%A8_%EC%A3%BC%EC%9D%98\"><\/span>Cautions for Memecoin<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Political and celebrity-themed memecoins get a lot of attention in the short term, but they are essentially <strong>Extreme volatility<\/strong>and <strong>Information asymmetry<\/strong>especially when a policymaker, their family, or affiliated companies are mentioned at the same time as a related token or ETF. <strong>Conflicts of interest<\/strong> and <strong>Market disruptions<\/strong> Controversy is easy to generate. Be sure to distinguish between investment and learning purposes, and verify facts through official documents, disclosures, and trusted sources. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%9E%90%EC%A3%BC_%EB%AC%BB%EB%8A%94_%EC%A7%88%EB%AC%B8_FAQ\"><\/span>Frequently asked questions (FAQ)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Q. Who controls Bitcoin?<\/strong><br>\u2192 People around the world play by the same rules, not a specific organization.<\/li>\n\n\n\n<li><strong>Q. Can it be hacked?<\/strong><br>\u2192 The blockchain itself is nearly impossible to hack. However, if an individual loses their wallet password (private key), it is impossible to recover.<\/li>\n\n\n\n<li><strong>Q. Are there really only a limited number of issues?<\/strong><br>\u2192 Yes, they are limited to a maximum of 21 million. This creates scarcity, just like gold.<\/li>\n\n\n\n<li><strong>Q. Is mining still attractive?<\/strong><br>\u2192 Currently, ASIC equipment and electricity are a big expense. <strong>Rather than individual mining, it is often replaced by participation in mining pools or investing in ETFs.<\/strong><\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%AF%B8%EA%B5%AD%EA%B3%BC_%ED%8A%B8%EB%9F%BC%ED%94%84_%EA%B4%80%EB%A0%A8_%EC%B5%9C%EC%8B%A0_%EC%9D%B4%EC%95%BC%EA%B8%B0_2025_%EC%97%85%EB%8D%B0%EC%9D%B4%ED%8A%B8\"><\/span>The latest stories about the US and Trump (updated 2025)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EB%B0%B1%EC%95%85%EA%B4%80%C2%B7%EC%97%B0%EB%B0%A9_%EC%A0%95%EC%B1%85_%EB%8F%99%ED%96%A5\"><\/span>White House - Federal Policy Trends<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>On January 23, 2025, the White House unveiled a policy roadmap to support the growth of the digital asset and blockchain industry. On March 6, 2025, it released the <strong>Strategic Bitcoin Reserve<\/strong>and <strong>United States Digital Asset Stockpile<\/strong>which provides a framework for the government to collectively manage and hold confiscated and expropriated bitcoin and other digital assets. On July 18, the U.S. Department of Treasury issued an executive order creating the <strong>GENIUS Act<\/strong> There was also a signature. <\/p>\n\n\n\n<p>Also in August, a trial of distributing some federal statistics (such as GDP data) on a public blockchain will be reported, and experiments with open data distribution are underway.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%ED%8A%B8%EB%9F%BC%ED%94%84_%EB%B0%8F_%EA%B0%80%EC%A1%B1%EC%9D%98_%ED%81%AC%EB%A6%BD%ED%86%A0_%EC%82%AC%EC%97%85_%ED%99%95%EB%8C%80\"><\/span>Trump and family expand crypto business<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In August, the Trump Media &amp; Technology Group (TMTG) partnered with Crypto.com to create the <strong>Trump Media CRO Strategy<\/strong>a large-scale digital asset treasury company. The announcement of partnerships and wallet infrastructure integration plans centered around the Kronos (CRO) token, along with a spike in CRO price, garnered attention.<\/p>\n\n\n\n<p>There are also reports that new bitcoin-related entities and products (mining, ETFs, treasuries, etc.) with Trump family involvement are in the process of going public or raising funds within the year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EA%B3%B5%EC%8B%9D_%EB%B0%88%EC%BD%94%EC%9D%B8%EA%B3%BC_ETF_%EC%B6%94%EC%A7%84\"><\/span>Official Memecoin and ETF push<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Trump put his name on <strong>$TRUMP<\/strong>and Melania is <strong>$MELANIA<\/strong> and its price and market capitalization have fluctuated rapidly since its listing on exchanges. Despite the volatile and controversial nature of Memecoin, market interest remains high. <\/p>\n\n\n\n<p>Asset managers <strong>Canary Capital<\/strong>is <strong>$TRUMP Memecoin ETF<\/strong> In pushing for the listing, attempts to bring politically-themed crypto into regulated financial instruments have been spotted.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EC%9C%A4%EB%A6%AC%C2%B7%EA%B7%9C%EC%A0%9C_%EC%9D%B4%EC%8A%88\"><\/span>Ethical and regulatory issues<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The president's family's expansion into memecoin and crypto is a <strong>Conflicts of interest<\/strong>-.<strong>Ethics<\/strong>-.<strong>Market Order<\/strong> side of the debate. Civil society organizations and the media have raised concerns about possible conflicts with public officials' asset holdings and policy direction, and some have pointed to the speculative and fraudulent risks of memecoin. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%EA%B8%80%EC%93%B4%EC%9D%B4%EC%9D%98_%EC%8B%9C%EC%84%A0_%E2%9C%8D%EF%B8%8F\"><\/span>Author's Note \u270d\ufe0f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Someone says, \"Bitcoin is speculation, it has no substance!<br>My response to this is that money is just paper and gold is just shiny ore.<br>The important thing is that the moment people recognize that it exists, it's born.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%ED%95%9C_%EC%A4%84_%EC%9A%94%EC%95%BD\"><\/span>One-line summaries<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>What is Bitcoin? It's not just a cryptocurrency, it's a decentralized system that rejects centralization and believes in systems instead of people.<\/strong> The idea is a complex revolution at the intersection of finance, philosophy, technology, politics, and the environment.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>\uc774 \ud398\uc774\uc9c0\ub294 \ube44\ud2b8\ucf54\uc778(Bitcoin, BTC)\uc5d0 \ub300\ud55c \uac1c\ub150, \uc5ed\uc0ac, \uad6c\uc870, \ucc44\uad74 \ubc29\uc2dd, \ub17c\uc7c1\uc810 \ub4f1\uc744 \ud55c\ub208\uc5d0 \ubcfc \uc218 \uc788\ub3c4\ub85d \uc815\ub9ac\ud55c \ubc31\uacfc\uc0ac\uc804\ud615 \ucf58\ud150\uce20\uc785\ub2c8\ub2e4.\u203b \ubcf8 \ud398\uc774\uc9c0\ub294 \ub300\ud55c\ubbfc\uad6d \ud45c\uc900\uc2dc(KST)\ub97c \uae30\uc900\uc73c\ub85c \uc791\uc131\ub418\uc5c8\uc2b5\ub2c8\ub2e4. \u26a0\ufe0f \uc774 \uae00\uc740 \ube44\ud2b8\ucf54\uc778\uacfc \uad00\ub828\ub41c \uc815\ubcf4\ub97c \ud559\uc2b5\u00b7\uc5f0\uad6c \ubaa9\uc801\uc73c\ub85c \uc815\ub9ac\ud55c \ube44\uacf5\uc2dd \ucf58\ud150\uce20\uc785\ub2c8\ub2e4. \u26a0\ufe0f \ud22c\uc790 \uad8c\uc720\uc758 \ubaa9\uc801\uc774 \uc544\ub2c8\uba70, \ud22c\uc790 \ud310\ub2e8\uacfc \ucc45\uc784\uc740 \uc804\uc801\uc73c\ub85c \ubcf8\uc778\uc5d0\uac8c \uc788\uc2b5\ub2c8\ub2e4. \u26a0\ufe0f \ube44\ud2b8\ucf54\uc778\uc740 \uac01\uad6d \uaddc\uc81c \ubc0f \ubc95\uc801 \ud658\uacbd\uc5d0 \ub530\ub77c [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12],"tags":[306,303,304,311,300,307,308,301,305,310,309,299,312,298,302],"class_list":["post-287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-info","tag-306","tag-303","tag-304","tag-311","tag-300","tag-307","tag-308","tag-301","tag-305","tag-310","tag-309","tag-299","tag-312","tag-298","tag-302"],"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/coindetailshub.com\/wp-content\/uploads\/2025\/08\/bitcoin-encyclopedia-guide-thumbnail.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/posts\/287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/comments?post=287"}],"version-history":[{"count":2,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/posts\/287\/revisions"}],"predecessor-version":[{"id":290,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/posts\/287\/revisions\/290"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/media\/289"}],"wp:attachment":[{"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/media?parent=287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/categories?post=287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coindetailshub.com\/en\/wp-json\/wp\/v2\/tags?post=287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}