What Is Bitcoin?
shared by livebitcoinnews on Nov 11
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Bitcoin is a type of decentralised peer-to-peer currency. The decentralised part of this sentence refers to the fact that there is no central body organisation that controls or oversees the bitcoin ne...
twork. Instead, the bitcoin network is effectively controlled and regulated by its users. The best way to think of the difference between the bitcoin network and bitcoin as a currency is by thinking of the network itself as an electronic payment system such as PayPal or Skrill, but one that has its own virtual denomination – the bitcoin itself.
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