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Showing posts from July 14, 2023

Bitcoin Basics for Beginners | What is bitcoin |How Bitcoin works for beginner

 Bitcoin Overview Bitcoin is a decentralized digital currency, often referred to as a cryptocurrency. It was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto . Bitcoin operates on a peer-to-peer network, allowing users to send and receive transactions directly without the need for intermediaries like banks. Unlike traditional fiat currencies, such as the US dollar or the Euro, Bitcoin is not issued or controlled by any central authority, like a government or a central bank. Instead, it relies on a technology called blockchain, which is a public ledger that records all Bitcoin transactions. Bitcoin is created through a process called mining, where powerful computers compete to solve complex mathematical problems. Miners validate transactions and add them to the blockchain, and in return, they receive newly minted bitcoins as a reward. One of the key features of Bitcoin is its limited supply. There will only ever be 21 million bitcoins in...