Bitcoin is a payment system invented by Satoshi Nakamoto, who published the invention in 2008 and released it as open-source software in 2009.
\nBitcoin, a new payment system invented by Satoshi Nakamoto. In 2008 a invention was published and released as Bitcoin. It is an open source software<\/p>\n
It is a digital currency that uses peer-to-peer technology to facilate instant payment. There is no intermidiary authority.<\/p>\n
There is a concept of block chain where Transactions are verified by network nodes and recorded in a public distributed ledger.<\/p>\n
Bitcoin are created through mining process that involves complex number crunching by computers. on every 10 minutes 25 bitcoins are generated, they are divisible to 8 decimal places. These fractions are called satoshis.<\/p>\n
Bitcoin as a form of payment for products and services has grown, and merchants have an incentive to accept it because fees are lower than the 2\u20133% typically imposed by credit card processors.<\/p>\n
The European Banking Authority and other sources have warned that bitcoin users are not protected by refund rights or chargebacks. Despite a big increase in the number of merchants accepting bitcoin, the cryptocurrency doesn\u2019t have much momentum in retail transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"
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