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  • What is Bitcoin?

  • Bitcoin is the first decentralized digital currency.

  • Bitcoins are digital coins you can send through the Internet.

  • Compared to other alternatives, bitcoins have a number of advantages.

  • Bitcoins are transferred directly from person to person via the net without going through a bank or clearinghouse.

  • This means that the fees are much lower, you can use them in every country, your account cannot be frozen and there are no prerequisites or arbitrary limits.

  • Let's look at how it works.

  • Several currency exchanges exist where you can buy and sell bitcoins for dollars, euros and more.

  • Your bitcoins are kept in your digital wallet on your computer or mobile device.

  • Sending bitcoins is as simple as sending an email, and you can purchase anything with Bitcoin.

  • The Bitcoin network is secured by individuals called miners.

  • Miners are rewarded newly generated bitcoins for verifying transactions.

  • After transactions are verified, they are recorded in a transparent public ledger.

  • Bitcoin opens up a whole new platform for innovation.

  • The software is completely open source and anyone can review the code.

  • Bitcoin is changing finance the same way the web changed publishing.

  • When everyone has access to a global market, great ideas flourish!

  • Bitcoins are a great way for businesses to minimize transaction fees.

  • It doesn't cost anything to start accepting them and it's easy to setup.

  • There are no chargebacks and you'll get additional business from the Bitcoin economy.

  • For more information about Bitcoin visit:

What is Bitcoin?

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What is Bitcoin?

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    Bruce Lan posted on 2014/05/24
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