The Bitcoin Logo and Bitcoin transactions are transacted directly from the sender to the recipient's computer online. This open and distributed ledger is called a blockchain. Bitcoin is produced through mining where transactions are recorded and verified based on the processing power of the computer. The total amount of bitcoins that will be generated from the transaction decreases every four years. Thus, a total of 210,000,000 bitcoins will be created by 2140, and no new bitcoins will be created in the future. [6] Can't follow. Is aBitcoin is becoming increasingly popular in more than one country. [10] Bitcoin is currently used as a digital currency, product or service. In addition to legal goods transactions, Bitcoin is also used for drug smuggling and money laundering. Although Bitcoin has gained popularity as a digital currency, it has been criticized by many for its sharp fluctuations against various international currencies, its scarcity, and its limited use in business.thanks for reading.