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- Bitcoin is a digital currency that is not controlled by any central authority123. It is stored in a computer file called a digital wallet, and can be sent or received by anyone on a network called the blockchain41. The blockchain is a public list of all Bitcoin transactions that ensures the security and transparency of the system12. Bitcoin allows users to have full control over their money and make peer-to-peer transactions without intermediaries123.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Bitcoin Explained Simply for Dummies Bitcoin is the first decentralized digital currency. All Bitcoin transactions are documented on a virtual ledger called the blockchain, which is accessible for everyone to see. Bitcoin gives you complete control over your money, unlike other assets you own which are regulated by banks and governments.
99bitcoins.com/bitcoin/Bitcoin is a form of digital currency that aims to eliminate the need for central authorities such as banks or governments. Instead, Bitcoin uses blockchain technology to support peer-to-peer transactions between users on a decentralized network.www.nerdwallet.com/article/investing/what-is-bitcoinBitcoin for Dummies: What is Bitcoin? Bitcoin is a cryptocurrency that is open source and created for peer-to-peer money transfers. Imagine Paypal or Venmo without a central authority. No one to tell you what to pay, how to buy, when to buy with no worries of a huge fee.www.mymillennialguide.com/bitcoin-for-dummies/Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.www.bbc.co.uk/newsround/25622442 - People also ask
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Bitcoin is the first decentralized digital currency. All Bitcoin transactions are documented on a virtual ledger calledthe blockchain, which is accessible for everyone to see. Bitcoin gives you complete control over your money, unlike other assets you … See more
Once fiat money was in place, the move to digital money was pretty simple. We already have a central authority that issues money, so why not make money mostly digital and let that authority keep track of who owns what? Today, we mainly use credit cards, wire … See more
Before we talk about Bitcoin, I need to take a moment and talk about money. What is money exactly? At its core, money represents value. If I do some work for you, you give me … See more
Whenever you give anyone control over the money supply, you’re giving them enormous power, and this creates three major issues: See more
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