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Understanding bitcoins for dummies

Understanding bitcoins for dummies

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When you wake up inand there are limited avenues for pursuing refunds, challenging and record-keeping. OK, so what about.

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What is Bitcoin? Bitcoin Explained Simply
elpinico.org � Investing. Bitcoin is a form of digital currency that was founded during the financial crisis in Bitcoin is the first-ever decentralized global digital currency. Among other things, this means that it is entirely computerized and doesn't exist in a physical.

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How does Bitcoin work? Instead, Bitcoin uses blockchain technology to support peer-to-peer transactions between users on a decentralized network. Is this article helpful? Instead of a username or an email address or a managed account, Bitcoin users have wallets that generate addresses. This independent network of miners also decreases the chance for fraud or false information to be recorded, as the majority of miners need to confirm the authenticity of each block of data before it's added to the blockchain in a process known as proof-of-work.