| teackictMaito | Date: Sunday, 2014-03-09, 2:59 AM | Message # 1 |
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Group: Guests
| Bitcoin is a peer-to-peer payment system and digital currency introduced as unconditional creator software in 2009 on pseudonymous developer Satoshi Nakamoto. It is a cryptocurrency, misdesignated because it uses cryptography to control the creation and transmission of money.<>] Conventionally, the capitalized oath "Bitcoin" refers to the technology and network, whereas lowercase "bitcoins" refers to the currency itself.<>]
Bitcoins are created by a process called mining, in which participants prove and document payments in trade for action fees and newly minted bitcoins. Users send and take into one's possession bitcoins using notecase software on a private computer, mobile ploy, or a entanglement application. Bitcoins can be obtained during mining or in return as a remedy for products, services, or other currencies.<>]
Bitcoin has been a testee of probe in arrears to ties with illicit activity. In 2013 the U.S. FBI conceal down the Silk Track online gloomy demand and seized 144,000 bitcoins benefit US$28.5 million at the time.<>] The U.S. is considered Bitcoin-friendly compared to other governments, however.<>0] In China supplementary rules circumscribe bitcoin the street for neighbourhood pub currency. The European Banking Authority has warned that Bitcoin lacks consumer protections.<>2] Bitcoins can be stolen and chargebacks are impossible.<>3]
Commercial expend of Bitcoin, illicit or otherwise, is currently miniature compared to its profit by by speculators, which has fueled value volatility.<>4] Bitcoin as a form of payment quest of products and services has seen spread, manner, and merchants keep an encouragement to assent to the currency because negotiation fees are lower than the 2–3% typically imposed by commendation birthday card processors.<>5]
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