Definition of bitcoin in English:



  • 1[mass noun] A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating 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’
    • ‘What can I buy with bitcoin?’
    • ‘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.’
    • ‘I paid for my domain in bitcoin.’
    • ‘No matter what you call it, BitCoin, dollar, pound or peso, it's all gone virtual and it's all been stolen before.’
    • ‘For example, if bitcoin becomes successful, the way anarchists and hackers like it, it will extremely hard to centralize money ever again.’
    • ‘It's still early days, and bitcoin is not without its share of problems.’
    • ‘In October 2010, the price of bitcoin used to be 0.90.’
    • ‘We try and support all the merchants who accept Bitcoin.’
    • ‘With no government backing, Bitcoin has value only so long as enough people agree to use it.’
    1. 1.1[count noun]A unit of bitcoin.
      ‘bitcoins can be used for online transactions between individuals’
      • ‘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.’
      • ‘Just two and a half years ago, a bitcoin was valued at 5 cents.’
      • ‘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.’
      • ‘Simply put, a bitcoin is an algorithm-based mathematical construct - a unit of measurement invented to quantify value.’
      • ‘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.’
      • ‘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.’
      • ‘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.’
      • ‘Of course, there's no tangible way to value a bitcoin aside from what someone else believes it is worth.’


Early 21st century: from bit + coin.