posted by Michelle Pearl

IMG_1388Bitcoin is an experimental new currency, which is still in active development. Bitcoins are an alternative medium of exchange, from state issued currencies such as the fiat American dollar.

Bitcoins are a stateless currency which you can send anywhere in the world, in most cases almost entirely anonymously. In most online situations the transaction is not entirely untraceable, but any individual can increase their security, by means such as encrypting their transactions. All Bitcoin transactions are stored publicly and permanently on the network, so anyone can see the balance and transactions of any Bitcoin address. However, the identity of the owner cannot be associated with their Bitcoin address. Personal information must be revealed by the owner during any exchange.
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