Bitcoin is a decentralized digital currency and worldwide payment system. Bitcoin was created in 2009 as an open source project developed by one or more unknown developers called “Satoshi Nakamoto”. The system allows users to send transactions directly from person to person, cutting out the middleman. This allows transactions to be faster, have lower cost, and be anonymous. Due to the logic behind Bitcoin, there can only ever be produced, or mined, 21 million Bitcoins. The price is a calculated average from different markets.
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