FAQ – Preguntas frecuentes

Bitcoin is a digital currency that allows you to send and receive value over the internet — without needing a bank, payment provider, or government in the middle. It was introduced in 2009 and is considered the first truly decentralized form of money.

Key Characteristics of Bitcoin:

• Decentralized: No single company or country controls Bitcoin. It is maintained by a global network of users and computers.

• Limited Supply: Only 21 million Bitcoins will ever exist. This scarcity is part of its value.

• Borderless: You can send Bitcoin to anyone, anywhere in the world, 24/7.

• Open and Transparent: Every transaction is recorded publicly on a blockchain and can be verified by anyone.

Bitcoin is often called “digital gold” because, like gold, it is scarce and doesn’t rely on trust in an institution. It’s also used as a store of value, a hedge against inflation, and, for some, as a financial escape from centralized systems.

The blockchain is the core technology behind Bitcoin. It works as a public, digital ledger that stores all Bitcoin transactions in chronological order.

Here’s how it works:

1. Transactions are grouped into blocks
   When you send Bitcoin, your transaction is bundled with others into a “block.”

2. Miners validate the block
   Miners are special participants in the network who solve complex mathematical puzzles to confirm the block. This process is called “proof of work.”

3. Blocks are linked together
   Once confirmed, the new block is added to the chain of previous blocks. This chain is permanent and nearly impossible to alter — hence the term blockchain.

4. Everyone can verify the data
   All this happens transparently. Anyone with internet access can download the Bitcoin blockchain and verify any transaction from day one.

This system makes Bitcoin secure, censorship-resistant, and transparent. It also removes the need for a trusted third party.

Bitcoin was created by a person or group using the pseudonym Satoshi Nakamoto. In 2008, Nakamoto published the Bitcoin whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System”. The goal was to build a new kind of money that could operate without banks or governments.

What we know:

• The first version of the Bitcoin software was released in January 2009.

• Satoshi communicated with early developers and users via email and online forums.

• In 2010, they handed over the project and disappeared from public view.

To this day, no one knows who Satoshi Nakamoto really is. The identity remains one of the biggest mysteries in tech history.

Why does it matter?

The anonymous nature of Bitcoin’s creator adds to its decentralized character. There is no founder to influence the system, promote a personal agenda, or change the rules. It’s truly open and community-driven.

Bitcoin has a hard-coded supply limit: only 21 million Bitcoins will ever exist. This number is written into the software and cannot be changed without global consensus.

How new Bitcoins are created:

Bitcoins are introduced through a process called mining. Miners validate transactions and are rewarded with new Bitcoins. But that reward decreases over time in an event called the halving, which happens roughly every four years.

• In 2009, the reward was 50 BTC per block

• In 2024, the reward dropped to 3.125 BTC per block

• The last Bitcoin will be mined around 2140

Why the supply limit matters:

The fixed supply makes Bitcoin resistant to inflation. Unlike fiat currencies, where central banks can print more money, Bitcoin’s supply is predictable. This scarcity is one reason many people see it as a store of value.