Bitcoin

noun
Bit·coin | \ ˈbit-ˌkȯin \
variants: or less commonly bitcoin

Definition of Bitcoin 

: a digital currency created for use in peer-to-peer online transactions Introduced in 2008 by a person or group using the name Satoshi Nakamoto, Bitcoin is the most prominent of a group of virtual currencies—money that exists mainly as computer code—that have no central issuing authority. —Carter Dougherty Bitcoin … is backed by no government and has a fluctuating value linked in part to a scarcity that is mathematically predetermined. Unlike other forms of digital cash, Bitcoin is truly untraceable and therefore, like cash, cannot be recovered if lost or destroyed. —Glenn Zorpette also usually bitcoin : a unit of this currency Commercial space venture Virgin Galactic—which announced on Nov. 22 that it would start accepting bitcoins to reserve a refundable $250,000 seat on a future trip—is just the latest of many businesses that have recently embraced the decentralized virtual payment system. (At press time, 1 bitcoin was worth roughly $879.) Time

Examples of Bitcoin in a Sentence

Recent Examples on the Web

The desk struck a relationship with Poloniex, its Boston neighbor, after Poloniex became one of the earliest exchanges to list Ether, the native coin of Ethereum, the biggest cryptocurrency network next to Bitcoin. Robert Hackett, Fortune, "The Video Cloud video is not playable.," 26 Feb. 2018 Bitcoin, however, has become the cryptocurrency standard operating much like U.S. dollar would operate in public currency markets, but in the crypto realm. Michael C. Dealoia, cleveland.com, "Cleveland-area entrepreneurs are pouring resources into new-currency technolgoy: Tech Czar Talk," 25 Feb. 2018 The town decided early on to attract crypto-entrepreneurs, for example by allowing companies to incorporate based on bitcoin wealth, rather than insisting that it be converted into fiat currency. The Economist, "A banking centre seeks to reinvent itself," 24 Feb. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'Bitcoin.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of Bitcoin

2008, in the meaning defined above

History and Etymology for Bitcoin

bit entry 4 + coin entry 1

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Dictionary Entries near Bitcoin

bitchin'

bitch-slap

bitchy

Bitcoin

bite

biteable

bite back

Statistics for Bitcoin

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Time Traveler for Bitcoin

The first known use of Bitcoin was in 2008

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