What is Bitcoin?

Bitcoin is a computer code that is used as a currency. There are a limited number of bitcoins that are created by computer programs running mining operations. This limited supply supposedly creates scarcity and value. If however, there is no electricity, you will not be able to access your bitcoin. There are many different derivatives of bitcoin that have been introduced. These derivatives are not actually bitcoin.The most important technology behind bitcoin is the blockchain, this is the ledger that handles all the transactions. Blockchain technology will lower costs related to the movement of money and eliminate middlemen.


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