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What is bitcoin?

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by 56a250ca0f40556a250ca18684
Last updated 1 year ago

Discipline:
Social Studies
Subject:
Economics

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WHAT IS BITCOIN?

Bitcoin is a virtual currency that appeared in 2009. It is not regulated by any country or authority and it is completely anonymous. No credit card companies or banks are involved in the transactions, which can only take place electronically.If You've Ignored Bitcoin Up Until Now, This One's For You

The price of Bitcoin is notoriously volatile.Man buys $27 of bitcoin, forgets about them, finds they're now worth $886kThere have been cases of 'robbery' resulting in the complete loss of the investment. The Inside Story of Mt. Gox, Bitcoin’s $460 Million Disaster

The identity of Bitcoin's creator is still a mystery. Known as Satoshi Nakamoto, it is not certain who is hiding behind that alias. Who is Bitcoin creator Satoshi Nakamoto? Does it even matter?

Many large companies accept Bitcoin as payment: Microsoft, Amazon, Victoria's Secret, etc. However, as Bitcoin is anonymous, it has been linked to illicit trade such as drug dealing or escort services. Click here for the transcript

The future of Bitcoin is uncertain. There seems to be a civil war in the Bitcoin camp. Recently, a senior developer announced the new currency is a failure and got rid of his bitcoins, which caused the value to plummet. However, the technology behind Bitcoin could be the future of banking.R.I.P., Bitcoin. It’s time to move onIs Blockchain the most important IT invention of our age?

More info atFAQ-Bitcoin


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