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What-is-Bitcoin.8167505.powerpoint (2)

Bitcoin is the most well-known cryptocurrency, however, there are many more kinds of coins available, in addition to bitcoin. If you are reading this post, I am certain that you are familiar with the cryptocurrency Litecoin.<br><br>Even though Bitcoin, the first cryptocurrency, was created initially, there are now many more cryptocurrencies available to use. Litecoin was created after bitcoin, and it was created in such a way that it has the potential to be a superior currency to bitcoin.

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What-is-Bitcoin.8167505.powerpoint (2)

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  1. What is Bitcoin?

  2. With the Bitcoin price so volatile everyone is curious. Bitcoin is extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money.

  3. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.

  4. Who created Bitcoin? The first Bitcoinspecificationand proof of concept was publishedin 2009 by an unknown individual under thepseudonym Satoshi Nakamoto who revealed littleabout himself and left the project in late 2010.The Bitcoin community has since grownexponentially.

  5. Who controls the Bitcoin network? Nobody ownsthe Bitcoin network much like no one owns thetechnology behind email or the Internet. Bitcointransactions are verified by Bitcoin miners whichhas an entire industry and Bitcoin cloud miningoptions. While developers are improving thesoftware they cannot force a change in theBitcoinprotocol because all users are free tochoose what software and version they use.

  6. For more information click here https://www.coinbeera.com/ THANK YOU

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