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How does bitcoin work?

Updated: 9/24/2023
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6y ago

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Bitcoin is a digital currency. It makes it possible to send and receive money over the internet without and interference from 3rd party actors like banks. The transactions work thanks to a "ledger system" were computers keep track of who sends and receives money. This is possible thanks to the blockchain were miners use computers to solve mathematical equations to solve the ledger functions. When a miner solves an equation they also get a reward for that. I personally use this website for info about crypto: coinworld.io

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How to create Bitcoin?

Go to the App store (iOS) or Google Play store (Android).Search and download Coinomi.Open the app and write down your 24-words recovery phrase. ...Set a strong password.Add bitcoin to your wallet.Use your receiving address to receive bitcoin.


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The Bitcoin is Edison's renegade currency.


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$378.88 USD as of the second of December 2014


Why was MtGox targeted in April 2013 by a DDOS attack?

MtGox was attacked mainly to destabilize Bitcoin in general because they are the largest Bitcoin exchange. Attackers wanted to abuse the system for profit.


What's the price of a Bitcoin?

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Where accepts bitcoin?

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Rising inflation and the potential for even more stimulus continues to push people to safe-haven assets. Increased adoption from payment applications like PayPal will give far more people easy access to cryptocurrency. Publicly traded companies purchasing Bit coin shows a high level of confidence in its appreciation. Learn more about how to profit here: ht tp s : // cu tt .ly / Pmh7qDN


How do you get out of Bitcoin?

If you buy your BTC on your exchanges, you can sell it at a higher price. That's what I do when I am short on Netcoins.


Does the NYA still exist today?

No, the New York Agreement (NYA) is no longer active today. It was initially created in 2017 as a scaling agreement for Bitcoin that ultimately led to the creation of Bitcoin Cash. However, the NYA itself is no longer in effect.


How to transfer Bitcoin to Bitcoin cash?

I use cionbase for mine if you wanna try you can use this link I put. (it wouldn't let me put the link so i put a space in it so you can just take that out) ht tps://bi t.ly/3fZ0FyP