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bitcoin

[ bit-koin ]

noun

  1. Often Bitcoin. the first widely established cryptocurrency, which uses state-of-the-art cryptography, can be issued in any fractional denomination, and has a decentralized distribution system: altcoin ( def ).

    Increasing numbers of stores and online businesses accept Bitcoin.

  2. a single unit of bitcoin, the first widely established cryptocurrency:

    The value of a bitcoin has sometimes surpassed the value of an ounce of gold.



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Usage Note

What's the difference between bitcoin, cryptocurrency, and digital currency? See digital currency ( def ).
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Word History and Origins

Origin of bitcoin1

First recorded in 2005–10; bit 3( def ) + coin none
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Example Sentences

Last year, the country was only second to Nigeria in bitcoin trading in Africa.

The bitcoin network has a decentralized architecture that puts it beyond the reach of any government.

When the news of the purchase became public on Monday, the value of the world's bitcoin rose by about $90 billion while the value of Tesla rose by about $8 billion.

From Axios

The move is a major sign of support for bitcoin and could encourage other major companies to follow suit in accepting the world’s most popular cryptocurrency.

A growing number of mainstream organizations have chosen to add bitcoin to their investment portfolios, pushing up the currency's value.

Bitcoin began 2013 with a roaring price of $770 per unit, and businesses right and left were converting to the ethereal product.

Certainly the bitcoin community continues to treat Karpeles as a pariah.

The bitcoin community and press have vilified Mark Karpeles, the CEO of Mt. Gox, as a clown and a con man.

Those who are enthusiastic about bitcoin should be more careful about making sure they avoid harm.

It all started in 2010, when a French client asked me, “Could I pay in bitcoin?”

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