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About Bitcoin: Bitcoin, abbreviated to BTC, is a cryptocurrency. This digital currency is based on transactions in encrypted tools such as a blockchain or a digital signature. An unknown individual or group of people with the pseudonym Satoshi Nakamoto is considered an inventor.
Bitcoin is created through what is known as mining. Mining is cryptographic calculations on the computer that make blocks of transactions. The term is derived from the English term for the mining and mining of coal or gold. Since a new Bitcoin is created when mining in a blockchain through encrypted transactions, users also speak of mining in this context.
However, cryptocurrencies have nothing to do with gold. Unlike traditional currencies such as euros or US dollars, cryptocurrencies are not subject to the gold standard.
That means: The currency’s stability is not guaranteed by the gold reserve of the issuing country. Instead, every bitcoin is created through transactions in a blockchain without the involvement of a bank and regulation by a superordinate body or state.
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- 5G will go Mainstream
- Millennials’ interest in Crypto
- Crypto Tax
- Make Way for Exchange Traded Fund (ETF)
- Central Bank Digital Currencies (CBDCs)
- Introduction of Tax Regulations
- The Market For DApps Expands
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