
TheGreatWealthTransfer.Africa
February 9, 2025 at 05:50 PM
What is Bitcoin? 💰
Bitcoin (BTC) is a decentralized digital currency that allows for peer-to-peer transactions without the need for intermediaries like banks or governments. 🌎
*Key Features: 🤔*
1. _Decentralized_: Bitcoin operates on a decentralized network of computers, rather than a central authority. 🖥️
2. _Digital_: Bitcoin exists only in digital form, with no physical coins or bills. 💻
3. _Limited supply_: The total supply of Bitcoin is capped at 21 million. 📉
4. _Secure_: Bitcoin transactions are secured through cryptography and a decentralized network of computers. 🔒
5. _Transparent_: All Bitcoin transactions are recorded on a public ledger called the blockchain. 📊
How does Bitcoin work? 🤔
1. _Mining_: New Bitcoins are created through a process called mining, in which specialized computers solve complex mathematical problems. 💡
2. _Transactions_: Bitcoins can be sent and received through digital wallets. 📈
3. _Blockchain_: Transactions are recorded on the blockchain, which is maintained by a network of computers. 📊
4. _Consensus_: The decentralized network of computers verifies and agrees on the validity of transactions. 👥
What can you do with Bitcoin? 🤔
1. _Buy and sell_: Bitcoin can be bought and sold on online exchanges. 📈
2. _Make payments_: Bitcoin can be used to make purchases from merchants who accept it. 🛍️
3. _Invest_: Bitcoin can be held as an investment, similar to stocks or commodities. 📈.
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