i am very confused with it.
CAn someone explain bitcoin for me ?
- Thread starter Abdiwali22
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DRACO
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It's a digital cryptocurrency that is uses blochain and is secured by cryptography . It is set so only certain amount of bitcoin can be created each and by being mined by by miners using ram and their can only ever be a maximum of 21 million mined
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Bitcoin transaction are anonymous , therefore it a favourite amongst , people whom hide their money to be untaxed by governments e.g. Like offshore , terrorist use it to move their money around the world , cyber criminals who demand ransom from ransomeware and hackers . But the vast majority of users are genuine everyday users
Well that's my understanding .
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Bitcoin transaction are anonymous , therefore it a favourite amongst , people whom hide their money to be untaxed by governments e.g. Like offshore , terrorist use it to move their money around the world , cyber criminals who demand ransom from ransomeware and hackers . But the vast majority of users are genuine everyday users
Well that's my understanding .
Think of it as a decentralised currency. Not controlled by any one state or country. Its built around the idea that as along as people believe in its value it will always increase in value. It is a block chain where people can send money anonymously without that middleman, cutting costs significantly. Funnily enough its original beginnings were due to darknet transactions. 
. A lot of of illegal shit were bought due to blockchains.
. A lot of of illegal shit were bought due to blockchains.
The same can be said with any new technologies, criminals are the first to experiment.Think of it as a decentralised currency. Not controlled by any one state or country. Its built around the idea that as along as people believe in its value it will always increase in value. It is a block chain where people can send money anonymously without that middleman, cutting costs significantly. Funnily enough its original beginnings were due to darknet transactions.
The internet in the early days was also being used for a lot of illlegal shit.
I thought its original beginnings was because of the financial crisis of 2008 caused by banks. The creator of bitcoin wanted a store of value that was decentralized and not connected to a gov't or bank.
DRACO
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No one knows who the creator is , S/he goes under the name Satoshi nakamoto . Intersting if it will ever be revealed.
Bitcoin isn't truly anonymous. All transaction and related bitcoin address are stored on the blockchain and can be viewed by everyone. The bitcoin address doesn't tell info about the person but it could be traced back to the person.
www.buybitcoinworldwide.com/anonymity/
There's a lot of fear mongering being pushed by media and banks that are trying to fight this.
Blame ur 68iq
DRACO
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Yeah I know , was just giving a simple explanation .it just makes a whole lot harder to track down the person. But professionals wouldn't leave Behind any personally identifying data .
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Steamdevolopment
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It is a high yield scam
DRACO
VIP
It's not a scam , buy it .
People don't trusts the banks
And people are funnelling $$ to bitcoin instead offshore banks
I predict it will reach $20k by 2019.
Basically , a kind of Baradho( by way of a virtual currency ) .
# streets gotta eat .
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