Bitcoin (BTC)

Bitcoin is an open network that enables the transfer of digital value without the need for a central account manager. The network’s native asset is BTC. The price and market information on this page track BTC; Bitcoin is not a company stock, an interest-bearing account, or a payment commitment from a specific institution. The validity of transfers is audited by common rules implemented by the participants operating the network.

The role of BTC on the Bitcoin network

BTC is the asset transferred on the network, and transaction fees are also paid in BTC. One Bitcoin is divisible into 100 million satoshis. Therefore, it is not necessary to acquire a full 1 BTC to use or purchase it. For example, 0.001 BTC is 100,000 satoshis. The TL equivalent of this amount changes with the market price; even if the number of satoshis remains the same, its monetary value is not fixed.

Bitcoin transactions use previously received and unspent outputs (UTXOs). Wallet applications display these records like a balance. In reality, coins do not exist as files inside your phone; your private key generates the signature required to spend the relevant records. BTC held on an exchange is mostly an account held by the exchange on your behalf. This is where the difference in responsibility between a personal wallet and an exchange account originates.

Miners and full nodes

Bitcoin produces blocks using a method called proof-of-work. Miners attempt to propose valid blocks by performing calculations. Full nodes audit transactions and blocks according to network rules. A miner having high computational power does not mean they can force nodes to accept the production of invalid currency. Security relies on these roles and economic incentives working together.

The time between blocks is not a precise timer. The protocol operates based on an average target; a single transaction may receive confirmation sooner or later. The number of confirmations required by services also varies. The generation of a transaction ID does not mean an exchange will make the balance immediately available for use. When examining a transfer, it is necessary to distinguish between network confirmation and the service’s own acceptance period.

Supply limit and new BTC production

Bitcoin’s issuance schedule limits the total supply to approximately 21 million BTC. The amount of new BTC that miners receive per block is halved at specific block intervals; this event is called halving. In addition to new production, miners can also receive transaction fees. A halving does not reduce the amount of BTC in your wallet by half, nor does it guarantee that the market price will automatically double.

The circulating supply and the actually spendable amount may not be exactly the same. Coins with lost keys may continue to appear on the chain. We cannot definitively say that every address that hasn’t moved for a long time is lost. Therefore, market capitalization is based on the provider’s definition of circulating supply; it is not a cash amount for which all BTC in the market could be sold at the same price.

Use cases and practical limits

Bitcoin can be used for peer-to-peer transfers, personal custody, and exposure to price movements. Additional layers like Lightning offer different payment experiences; their conditions regarding channels, liquidity, and wallets differ from mainnet transfers. A service supporting Bitcoin does not imply that it supports all transfer methods. The same network must be selected on both the sending and receiving sides.

Since transactions are written to public records, it is incorrect to consider Bitcoin completely anonymous. Although addresses do not carry names, movements can be linked to each other. Furthermore, there is no central undo button for a finalized transfer made to the wrong address. The loss of recovery words or their falling into someone else’s hands is a cause of asset loss independent of price movement.

How can you use the price on this page?

The chart and calculator provide a general overview of the market. In actual trading, the exchange’s offer, commissions, and buy-sell spread will change the result. The TL price can be affected by both the global price of Bitcoin and foreign exchange rates. You can proceed to the educational guide for Bitcoin’s operating logic, separate price pages for TL and USD calculations, and Bitcoin news for the latest developments. These sections answer different questions regarding the same asset.

Official sources

• Bitcoin.org: How does Bitcoin work?
• Bitcoin developer documentation: Transactions
• Bitcoin.org: Securing your wallet