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- Bitcoin works as follows12345:
- Bitcoin is a digital currency that can be sent quickly and securely from anywhere in the world.
- Each Bitcoin is stored in a digital wallet app on a smartphone or computer.
- Transactions happen directly between users on the network, verified by network nodes through cryptography and recorded on a public ledger called a blockchain.
- Unlike traditional currencies, Bitcoin operates on a decentralized network without intermediaries like banks.
- Bitcoin miners add new transaction data to the blockchain and are rewarded with bitcoins.
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 can be sent quickly and securely from anywhere in the world, and you only need an internet connection. Its price is determined by the free market, subject to supply and demand. Built on a decentralized network, it operates free of any central control, including but not limited to bank or government oversight.cryptopotato.com/bitcoin-for-beginners/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/25622442Bitcoin transactions happen directly between users on the network, with no intermediaries involved. Each transaction is verified by network nodes through cryptography and recorded on a public ledger called a blockchain. Bitcoin miners add new transaction data to the blockchain.www.theblock.co/learn/249521/what-is-bitcoin-and …Unlike traditional currencies controlled by central banks, Bitcoin operates on a decentralized network that spans numerous computers worldwide. This network leverages blockchain technology—a type of public ledger that records all transactions openly and immutably—to maintain security and transparency without the need for intermediaries like banks.bitcoinnews.com/learn/bitcoin-for-dummies-key-co…Bitcoin is the public blockchain used to create and manage the cryptocurrency of the same name. Bitcoin mining is the race between miners to hash specific values and other block information to find the solution to a hashing problem and add a block to the blockchain. The winning miner is rewarded with bitcoins.www.investopedia.com/terms/b/bitcoin.asp - People also ask
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