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Glite Dictionary
💰 A digital currency 🌐 A payment system
Bitcoin

Bitcoin

35 5.1
Digital money and payment system that records transactions in a public list
  • proper noun
  • /ˈbɪtˌkɔɪn/
  • Texting
translation icon : Bitcoin
  • The most contentious matter is whether Bitcoin acts as a store of value.
  • Bitcoin transactions
  • Bitcoin wallet
  • Bitcoin mining

What's the role of Bitcoin in this context?

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Examples

  • Is crypto or Bitcoin going to go to zero?

  • Jurisdictions such as Japan have passed laws to recognize Bitcoin as a legal payment method.

    Academic text (2018)

  • So the reason I support Bitcoin is because it's real.

    The Rich Dad Channel

  • But this cycle, it's Bitcoin alone, leading like nothing else.

  • To prevent this I demand payment of one hundred million US dollars in Bitcoin.

    The Bricklayer (2023)

  • At the current reward rate, the total number of Bitcoin that will enter circulation is 21 million.

    Academic text (2018)

  • The focus of this article is the current regulatory treatment of Bitcoin in relation to retail user protection.

    Academic text (2018)

  • The lack of central authority means there is no controlling body that issues Bitcoin into circulation.

    Academic text (2018)

  • The FMA could choose to designate Bitcoin as a financial product in the future.

    Academic text (2018)

  • Many businesses are starting to accept Bitcoin as a form of payment for their goods and services.

Surface Forms

Bitcoin main

Morphology

Bitcoin = bit + coin (transparent) = bit + coin

The lexical composition 'bit' + 'coin' straightforwardly indicates a coin in digital/computing context, despite being used as the name of a specific network.

Etymology

Bitcoin is formed from bit meaning 'a small unit of digital information' and coin meaning 'money'. So, Bitcoin is like a money 'coin' made of computer bits that people use across an online network to send and check payments.