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Author Topic: What is Bitcoin?  (Read 1001735 times)

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What is Bitcoin?
« on: January 01, 2013, 03:45:04 PM »
What is Bitcoin?

Web definitions: A decentralised digital currency created in 2009; A client for the above currency.
(en.wiktionary.org/wiki/bitcoin)

« Last Edit: March 12, 2016, 03:30:42 PM by bitcoinforum.com »
"Your keys, your Bitcoin. Not your keys, not your Bitcoin." (Andreas Antonopoulos)
Latest stable Bitcoin version
Latest stable Electrum version


Offline Isabella85

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Re: What is Bitcoin?
« Reply #150 on: July 16, 2018, 01:00:58 PM »
Thanks for such a thorough explanation! I found grasping the idea of cryptocurrencies rather difficult until now. We live in strange times.
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Offline Belfricsbt

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Re: What is Bitcoin?
« Reply #151 on: August 10, 2018, 06:03:15 AM »
Bitcoin is digital currency and is not owned by a central government or a central bank. It can be sent from one person to another person in the world throught internet, even to an unknown person. All the transaction details are stored in internet and there is no physical papers.
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Offline bitbud

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Re: What is Bitcoin?
« Reply #152 on: August 10, 2018, 06:09:57 AM »
Some really nice explanations, thanks for that!
I needed this channel when I tried to explain my mum what bitcoin actually is - she thought I'm doing something illegal.
Hopefully I can bring her this topic closer now (:

Offline amadeussitoi

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Re: What is Bitcoin?
« Reply #153 on: August 13, 2018, 01:04:51 PM »
Some really nice explanations, thanks for that!
I needed this channel when I tried to explain my mum what bitcoin actually is - she thought I'm doing something illegal.
Hopefully I can bring her this topic closer now (:


Hahah, actually I'm not surprised mums can think so. Monero for example is used all over the Dark Net (where you can buy, share and sell anything illegal).


And yes, explanations here are very helpful, thanks to you all!

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Re: What is Bitcoin?
« Reply #154 on: August 19, 2018, 05:01:59 PM »
What is Bitcoin?

Web definitions: A decentralised digital currency created in 2009; A client for the above currency.
(en.wiktionary.org/wiki/bitcoin)

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.

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Re: What is Bitcoin?
« Reply #155 on: August 19, 2018, 05:03:43 PM »
I always watch this video everytime I forgot what bitcoin is. Nice post. Thanks!
Bitcoin allows exciting uses that could not be covered by any previous payment system.

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Re: What is Bitcoin?
« Reply #156 on: August 19, 2018, 05:06:25 PM »
It's actually turning out to be a great way to invest, believe it or not. It's like watching the stocks go up and down every day. Keeps me on my toes.
Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part[/size][/font][/size]. Through many of its unique properties.[/color]

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Re: What is Bitcoin?
« Reply #157 on: August 20, 2018, 10:42:42 AM »
I am a new to this forum and I am very much aware about the spamming, but what I came to when I was new, here is an article from investopedia, where they have a complete explanation  related to bitcoin confusion, as there are so many contents around the globe where you always find something new, but when its comes to the basic this one I really prefer to share.



www dot investopedia dot com / tech / what-is-bitcoin

Offline SarahApple

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Re: What is Bitcoin?
« Reply #158 on: August 21, 2018, 01:00:44 PM »
Thanks Josefina!

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Re: What is Bitcoin?
« Reply #159 on: August 24, 2018, 01:09:46 PM »
Bitcoin is first digital cryptocurrency

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Re: What is Bitcoin?
« Reply #160 on: August 29, 2018, 06:12:04 AM »
What is Bitcoin?

Web definitions: A decentralised digital currency created in 2009; A client for the above currency.
(en.wiktionary.org/wiki/bitcoin)



Hey nice, Thank you!
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Re: What is Bitcoin?
« Reply #161 on: September 10, 2018, 10:28:58 AM »
thank you all for such useful information!

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Re: What is Bitcoin?
« Reply #162 on: September 12, 2018, 03:35:51 PM »
Bitcoin is digital cash which eliminated one of the biggest disadvantages of digital cryptocurrencies faced before they took off, called double spending. With no intermediate authority to settle transactions and verify them, it was possible to spend the same funds twice.



Read full article here: coinswitch.co/info/bitcoin/what-is-bitcoin
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Re: What is Bitcoin?
« Reply #163 on: September 25, 2018, 02:33:38 AM »
Awesome!.....

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Re: What is Bitcoin?
« Reply #164 on: September 27, 2018, 08:21:36 AM »
In very simple terminology Bitcoin is a form of digital currency. It is considered to be the first form of digital currency or cryptocurrency. Unlike our regular currency it is not issued or controlled by central authority such as banks or financial institutions. As per the information mentioned on the website Bitcoin.org Bitcoin means:- Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part.


 

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