What is Bitcoin? Long story short it is a digital currency system. A currency is a method of economic exchange. This means it is a technology that utilizes and stores information that facilitates peer to peer transactions direct between people, without needing a middle man like a bank or credit card company. The transactions appear on a digital ledger that is made publicly available so that transactions can easily be traced and verified. This potentially speeds up the transaction time, could reduce costs, and it could allow more freedom to those using Bitcoin.
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