# The Invention of BitCoin
> (Part 1 of 4 bitcoin series)

BitCoin is a cryptocurrency invented in 2008 by an unknown group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software. BitCoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. 

Historically, BitCoin was mostly used as a pseudo stock market where people try to buy low and sell high to reap quick profits. Because of how volatile the BitCoin value was in its infancy, people did not use it as a currency for daily use until the World Government Organization declared it as the worldwide global currency in 2071.
