Bitcoin Guide For Beginners In BC

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Bitcoin is the first global decentralized digital currency. This means, among other things, that it is entirely computerized and does not exist in physical form.

Bitcoin can be sent quickly and securely from anywhere in BC or the world, with the only requirement being an internet connection. The price of Bitcoin is determined by the free market, which is influenced by supply and demand.

Bitcoin operates on a decentralized network, free of any central control, including but not limited to bank or government oversight. It is based on open-source and peer-to-peer software, as well as cryptography. This technology, known as blockchain, is also completely transparent and immutable. Any changes must be approved by a majority of the people.

Proof of Work is the consensus algorithm that powers Bitcoin's blockchain (also known as distributed ledger technology).

The cryptocurrency can be stored in digital addresses that can be found all over the Internet. There are many digital wallet providers, each with its own dedicated address where you can receive BTC, to make it easier to keep for regular users.

As previously stated, Bitcoin is based on open-source technology, to which many developers have contributed and continue to contribute on a daily basis.