Bitcoin is a decentralized currency that is not controlled by any central authority from "summary" of The Bitcoin Standard by Saifedean Ammous
Bitcoin's decentralized nature is a key feature that sets it apart from traditional currencies. Unlike fiat currencies that are issued and controlled by central authorities such as governments and central banks, Bitcoin operates on a peer-to-peer network. This means that there is no central entity that has the power to control or manipulate the supply of Bitcoin. The decentralized nature of Bitcoin is enforced through a technology known as blockchain. The blockchain is a public ledger that records all transactions made with Bitcoin. Every participant in the Bitcoin network has a copy of the blockchain, and transactions are verified by a network of computers known as miners. These miners compete to solve complex mathematical puzzles in order to validat...
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