WHAT IS A BITCOIN?
Cryptocurrencies are decentralised digital currencies secured with cryptography. Bitcoin is at the top of the cryptocurrency list due to its being the first one in existence. Bitcoin is a revolutionary invention of the last decade. Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Its essential meaning is money digitisation.
Bitcoin became the first decentralised peer-to-peer payment network. Like most other cryptocurrencies, Bitcoin is not controlled by any single government or central bank, and no one can decide who is allowed to send or receive Bitcoins. Bitcoin transactions are censorship resistant. This means that no one, including banks, or governments, can block you from sending or receiving bitcoins or using without any central authority or middlemen. In a nutshell, Bitcoin is the money for Internet.
Bitcoin’s original purpose is providing all people with universal currency for different operations. Bitcoin can also be described as the most prominent triple entry bookkeeping system in existence. In fact, Bitcoin can be described as a new currency leading to a distinct new lifestyle!
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