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- Here are some key points to understand Bitcoin1234:
- Bitcoin is a type of cryptocurrency.
- There is no physical bitcoin, only balances kept on a public ledger that everyone has transparent access to.
- All bitcoin transactions are verified by a massive amount of computing power.
- Bitcoin is not issued or backed by any banks or governments, nor is an individual bitcoin valuable as a commodity.
- Bitcoin is a form of digital money that exists independently of any government, state, or financial institution.
- Bitcoin can be transferred globally without the need for a centralized intermediary.
- Bitcoin has a known monetary policy that arguably cannot be altered.
- Bitcoin price is determined by supply and demand.
- To use bitcoins, you need to have a Bitcoin wallet.
- Each Bitcoin is a digital asset that can be stored at a cryptocurrency exchange or in a digital wallet.
- Each individual coin represents the value of Bitcoin’s current price, but you can also own partial shares of each coin.
- The smallest denomination of each Bitcoin is called a Satoshi, sharing its name with Bitcoin’s creator.
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 is a type of cryptocurrency. There is no physical bitcoin, only balances kept on a public ledger that everyone has transparent access to. All bitcoin transactions are verified by a massive amount of computing power. Bitcoin is not issued or backed by any banks or governments, nor is an individual bitcoin valuable as a commodity.
www.investopedia.com/terms/b/bitcoin.aspPractically speaking, Bitcoin is a form of digital money that (1) exists independently of any government, state, or financial institution, (2) can be transferred globally without the need for a centralized intermediary, and (3) has a known monetary policy that arguably cannot be altered.www.bitcoin.com/get-started/what-is-bitcoin/Here’s an attempt to explain Bitcoin in the simplest of terms through bullet points:
- Bitcoin is a digital currency. It does not have a physical presence.
www.daytranslations.com/blog/how-to-understand-…Each Bitcoin is a digital asset that can be stored at a cryptocurrency exchange or in a digital wallet. Each individual coin represents the value of Bitcoin’s current price, but you can also own partial shares of each coin. The smallest denomination of each Bitcoin is called a Satoshi, sharing its name with Bitcoin’s creator.www.nerdwallet.com/article/investing/what-is-bitcoin - People also ask
WEBJan 26, 2022 · Learn how bitcoin works as a decentralized, digital currency and payment system, using blockchain technology. Find …
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