Definition
A small payment included with a Bitcoin transaction to incentivize miners to include it in a block. Fees vary based on network demand and transaction size.
Related Terms
DYOR
"Do Your Own Research." A common reminder in the Bitcoin community encouraging individuals to independently verify information before making decisions.
Fiat Currency
Government-issued currency that is not backed by a physical commodity (e.g., US Dollar, Euro). Bitcoin is often compared to fiat as an alternative monetary system.
Difficulty Adjustment
An automatic recalibration of Bitcoin's mining difficulty that occurs every 2,016 blocks (roughly two weeks). Ensures blocks are mined approximately every 10 minutes.
Full Node
A computer that runs the Bitcoin software and maintains a complete copy of the blockchain. Nodes independently verify all transactions and blocks.
DCA (Dollar-Cost Averaging)
An investment strategy where you buy a fixed amount of Bitcoin on a regular schedule, regardless of price. Reduces the impact of volatility over time.