Bitcoin is the first widely adopted cryptocurrency. A pseudonymous person or group named Satoshi Nakamoto created Bitcoin in 2008. Their whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System" was written in 2008. This whitepaper describes Bitcoin as electronic cash that does not rely on banks, governments, or other institutions to complete transactions. Anyone with an internet connection can send, receive, and trade Bitcoin. Each Bitcoin transaction is recorded on the Bitcoin blockchain.
The Bitcoin blockchain is a digital system that records information; this information is public and can not be changed or fabricated. Unlike a bank ledger, no one person or entity owns the Bitcoin blockchain and is instead run by "miners." Miners operate specialized computers known as "mining rigs," these mining rigs complete equations required to record and verify Bitcoin transactions. Once miners complete an equation and update the Bitcoin blockchain, they are rewarded in Bitcoin. Every four years, Bitcoin goes through a Bitcoin "halving." The Bitcoin halving reduces the amount of Bitcoin awarded to miners, making Bitcoin more scarce and increasing the price. There will never be more than 21 million Bitcoin, which means roughly 2 million Bitcoin are remaining. It is estimated that by 2140, there will be zero Bitcoin available to mine.
Today, depending on your goals, Bitcoin has a variety of use cases. Bitcoin can serve as an investment vehicle, a store of value similar to gold, a way to transfer value across the world, or a way to explore the emerging technology of cryptocurrency. No matter what your use case for Bitcoin may be, it is clear that Bitcoin has impacted the world and how we think about currencies.