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What is bitcoin Bitcoin is a type of digital currency, also known as a cryptocurrency, that operates without the need for a central authority like a bank or government. Here’s a breakdown of what that means: 🔹 Key Facts About Bitcoin: Created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Decentralized: No single entity controls Bitcoin. It runs on a peer-to-peer network of computers. Limited supply: There will only ever be 21 million bitcoins, which helps prevent inflation. Blockchain technology: All transactions are recorded on a public ledger called the blockchain, which is secure and transparent. Digital and borderless: Bitcoin can be sent and received anywhere in the world over the internet. Uses cryptography to secure transactions and control the creation of new units. 🔸 How People Use Bitcoin: As a store of value (like digital gold) For investment/trading To make purchases (where accepted) To send money internationally (often with lower fees) ⚠️ Things to Keep in Mind: Volatile: The price of Bitcoin can rise and fall dramatically. Not fully anonymous: Transactions are public, though identities can be pseudonymous. Regulations vary by country—legal in some, restricted or banned in others. Would you like to know how Bitcoin mining works, how to buy/use it, or the risks involved? ChatGPT can make mistakes. Check important info. See Cookie Preferences. #BinanceBasic

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Bitlayer is a wonderful 😊 pro #Bitlayerlabs $BTC

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