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Educational content, not investment advice.

Souq Dailyسوق ديليSouq Daily

Lesson 1 of 104:003 Sources

What is Bitcoin and what is a blockchain?

Video coming soon

Presented by NourIn Arabic, with captions. Other languages are coming.

Educational content, not investment advice. Nour explains how markets work. She never tells you what to buy or sell.

Bitcoin is digital money that moves directly from person to person without a bank in the middle. The blockchain is the shared ledger that records every transfer.

  • Transfers are grouped into blocks; each block carries a digital fingerprint (hash) of the previous one, forming a chain.
  • Miners compete to add blocks through proof-of-work and receive newly created coins; total supply is capped at 21 million.
  • A new block is added about every 10 minutes on average.
  • Transfers cannot be reversed, Bitcoin is not an official currency, and its price can swing sharply.

Quick check

Three questions. Pick an answer to see why.

0/3

  1. 1.What links each block in the blockchain to the one before it?

  2. 2.What is the maximum number of bitcoins that will ever be created?

  3. 3.You sent Bitcoin to the wrong address. What happens?

Sources

Every fact in this lesson is backed by the sources below.

  1. 1.Bitcoin whitepaper (Satoshi Nakamoto) – bitcoin.orgPeer-to-peer electronic cash without a financial institution; blocks chained by hashes; proof-of-work; first transaction in a block creates new coins; secure while honest nodes control more CPU power
  2. 2.bitcoin.org – Frequently Asked QuestionsFirst specification and proof of concept published in 2009; 21 million cap; ~10 minutes per block; transactions irreversible
  3. 3.bitcoin.org – Some things you need to knowPrice can rise or fall unpredictably in a short time; high-risk asset, don't store money you can't afford to lose; Bitcoin is not an official currency

Educational content, not investment advice. Risk warning: trading forex, CFDs, gold and crypto carries a high level of risk and may not be suitable for everyone. You can lose more than you put in. Souq Daily is an education platform. Nothing here is investment advice, a recommendation or an offer, and past performance does not predict future results.