Final answer:
The incorrect statement about Bitcoin is that the computer's CPU allows you to mine bitcoins, as mining now requires specialized ASIC hardware due to the complexity involved. Bitcoins are a digital currency used for online transactions, not regulated by central banks, and generated through mining.
Step-by-step explanation:
The question 'What is not true about bitcoin?' refers to the characteristics of Bitcoin, which is the most popular cryptocurrency. Among the statements provided, the claim that 'the computer's CPU allows you to mine bitcoins' is not accurate. While technically a CPU can mine bitcoins, it is highly inefficient and practically unfeasible due to the complexity of bitcoin mining. Bitcoin mining now requires specialized hardware called ASICs (Application-Specific Integrated Circuits) designed specifically for mining.
Bitcoins are indeed a digital, encrypted currency that can be used to purchase goods and services online. They are generated through a process known as mining, where miners solve complex mathematical problems to validate transactions and add new blocks to the blockchain, receiving bitcoin as a reward for their efforts. Unlike traditional fiat currencies, Bitcoin is not regulated by any central bank or backed by any commodity, but it is used by customers as a medium of exchange and can store value.