Definition of bitcoin in English:

noun

• 1trademark in UK A type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems, and which operates independently of a central bank.

  ‘bitcoin has become a hot commodity among speculators’

  ‘if you want to buy something using bitcoin you need to make sure the seller accepts the cryptocurrency’

  More example sentences

  • ‘In October 2010, the price of bitcoin used to be 0.90.’
  • ‘I paid for my domain in bitcoin.’
  • ‘For example, if bitcoin becomes successful, the way anarchists and hackers like it, it will extremely hard to centralize money ever again.’
  • ‘With no government backing, Bitcoin has value only so long as enough people agree to use it.’
  • ‘We try and support all the merchants who accept Bitcoin.’
  • ‘No matter what you call it, BitCoin, dollar, pound or peso, it's all gone virtual and it's all been stolen before.’
  • ‘What can I buy with bitcoin?’
  • ‘It's still early days, and bitcoin is not without its share of problems.’
  • ‘People trading bitcoin on the Tokyo-based exchange saw its price hit US $266 at one point, then fall to as low as $105 with high lag times for trades.’

  1. 1.1A unit of bitcoin.
     ‘bitcoins can be used for online transactions between individuals’
     More example sentences

     • ‘I've never purchased anything illegal with bitcoins.’
     • ‘The transaction may take a few days to complete, but you'll receive a notification when the Bitcoins have been safely transferred to your wallet.’
     • ‘As prices go up, people who currently hold Bitcoins develop greater and greater expectations for the currency.’
     • ‘The tricky part is the valuation of the bitcoins, which, in 2013 alone, has been as low as $15 and as high as $200.’
     • ‘Simply put, a bitcoin is an algorithm-based mathematical construct - a unit of measurement invented to quantify value.’
     • ‘Of course, there's no tangible way to value a bitcoin aside from what someone else believes it is worth.’
     • ‘Just two and a half years ago, a bitcoin was valued at 5 cents.’
     • ‘In an era of e-tickets, bitcoins and app-based banking, it seems pretty antiquated that we still have to fumble through our wallets for an insurance card each time we go to the doctor's office.’
     • ‘That's just the moment that hackers - who probably didn't believe their luck at first - got into his network, making off with a cool quarter-million's worth of bitcoins he had in his possession.’
     • ‘Last week, Reddit announced it would accept the currency for its Gold membership, while a US start-up is taking bitcoins as payment for pizza.’