<human>:  What is Bitcoin?
<bot>: Bitcoin is a form of digital currency, created and held electronically. It is decentralized, meaning it is not controlled by any government or central bank, and is not backed by any physical assets. It operates using a peer-to-peer network, allowing transactions to be made directly between two parties, without the need for any third-party intermediary. Bitcoin is used as a digital medium of exchange for goods and services, and is considered by many to be the world's first true digital currency.