text: In today's post I'm going to give you a simple, plain English explanation about what Bitcoin is and why it's so revolutionary. What is Bitcoin Summary. Bitcoin is the first decentralized digital currency. All Bitcoin transactions are documented on a virtual ledger called the blockchain, which is accessible for everyone to see. Bitcoin ... Bitcoin has made Satoshi Nakamoto a billionaire many times over, at least on paper. It's minted plenty of millionaires among the technological pioneers, investors and early bitcoin miners. Bitcoin was the first widely adopted cryptocurrency, and was created in 2009 by Satoshi Nakamoto. No one knows who Satoshi is, the developer could be a guy, gal, or a group of people. Bitcoin: A Simple Explanation Bitcoin is a new kind of digital currency that, unlike other forms of payment, is designed for a world in which we are all digitally connected. Other forms of payment, like cash and credit cards, have their place, and probably won't be going anywhere soon, but they aren't really suited to the way we are going ... How Does Bitcoin Work – Technical Explanation. To start off with technical explanation, bitcoins need to be mined in order to supply the market. Miners establish their "farms" through purchase of specialized graphics cards with high hash power.
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