What is bitcoin?Report
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What is bitcoin?
Bitcoin is a virtual currency distributed, which offers fast, cheap and highly private payments between two people (or customer and merchant) around the world. It’s like the electronic money you use to pay for products or services and the best part is – no one controls it.
Bitcoins are not printed like fiat-currencies and all transactions are done without the intermediary ( the bank). The Bitcoin price is only determined by the supply and demand of bitcoins. Since bitcoin is a decentralized currency, there is no market intervention to influence the bitcoin value. In simple terms, the increase in bitcoin prices suggests that more people are willing to buy bitcoins than to sell bitcoins and vice versa.
There is one question that stands out: Is Bitcoin legal? Short answer – yes. Longer answer – the legality of using bitcoin depends on what you do with Bitcoin.
0Bitcoin 7 months 0 Answers 394 views 0