Part 2 - What is Bitcoin? br br Bitcoin is a digital money and a payment network combined br br The Bitcoin acronym is BTC br br The bitcoin network came into existence in January 2009 br br The inventor of Bitcoin is a mystery br br Bitcoin has a capped supply of 21 million. Like gold it has a finite supply. br br Bitcoin is deflationary – it’s worth more over time rather than less br br If you lose your Bitcoin private key, you lose your bitcoins br br One Bitcoin has 8 decimal places, the smallest fraction is called a Satoshi - 0.