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Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

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  1. Joe Link

    Feedback Request  Supporting Members, how many of you use Bitcoin? Should Northwest Firearms accept it?

    We've had a number of requests to accept Bitcoin (and other altcoins) over the years. This past month we've received several, all citing the anti-gun nature of most payment processors (such as PayPal and Stripe, both of which we rely on), and the possibility of them cancelling our accounts at...
  2. IronMonster

    Bitcoin

    So I follow the financial markets and Bitcoin has had a lot of headlines lately. Every time I see one I get a bit irritated. Not that long ago I read a bit on Bitcoin and decided I would buy some. At the time they were trading for $24 which considering they were trading for pennies just a...
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