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Bitcoin - The Invisible Currency

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For many years, people did not have easy access to digital currency. The typical person could get money online from a random source. Bitcoin changed all of that. Bitcoin is the first decentralized digital currency. Bitcoin is an invisible virtual form of currency. It is only used online and it is an alternative form of money for people that are good with digital currency. It is considered gold for nerds. How could Bitcoin be like gold? It is very similar to gold because no central bank can control this digital currency. The government is not able to print more currency. Gold is a little different than Bitcoin because you have to use your mind to unravel the Bitcoin and not use shovels. Math geniuses use computers to solve complex math problems to earn Bitcoins. If they are able to solve the math problems then they succeed and get a good amount of Bitcoins. Even if someone solves all the math problems, they cannot get all the Bitcoins. There is a limit to the number of Bitcoins people can get because the creator of Bitcoin put out twenty-one million Bitcoins in the virtual ground. There is a maximum to the amount of Bitcoins that a person can solve and that is twenty-five Bitcoins every ten minutes. Bitcoin is giving power to the people, as there are not any central banks to oversee how people transfer and exchange the digital currency. Someone in the United States can easily transact with another person in China without any fees or bank account. The government is not allowed to confiscate or control any of the transactions taking place. The freedom from government interference allows the market to set all of the rules for Bitcoin. People who support Bitcoin believe that blockage from political influence allows Bitcoin to be more stable. There are various ways to trade Bitcoins as it was explained above. Bitcoins can be traded from one person’s digital wallet to anyone else’s digital wallet. Bitcoin trading can be seen as file-sharing within networks. Bitcoin is a network of computers constantly solving complex problems and interacting with each other. The only difference is that people are not just sharing files but rather money through a digital currency. There is also another way to exchange Bitcoins. Bitcoins are being exchanged on the open market where they can be sold or bought for an average rate. If people decide to buy Bitcoins, then they will be charged a fee for the exchange. ATMs are set up where computer users can trade Bitcoins for cash for some sort of fee. Bitcoin is different from an e-money method like PayPal through their security and anonymity methods. Bitcoin is also different than PayPal as Bitcoin has a finite number of Bitcoins out on the open market. Bitcoin is a decentralized digital currency, which is different than PayPal. PayPal is not decentralized. The fact that Bi

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