Cryptocurrency Q&A
What is Bitcoin (BTC)?
What is Bitcoin (BTC)?
KimonoElegance
Tue Mar 26 2024
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7 answers
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Could you possibly explain what Bitcoin, or BTC, is in layman's terms? I've heard a lot about it recently, but I'm still a bit hazy on the details. Is it just a form of digital currency, or is there more to it than that? How does it work, and why is it so popular? I've also heard about its volatile price swings, is that true? And finally, how does someone go about getting involved in Bitcoin? Any advice would be greatly appreciated.
7 answers
Abdelkrim_Mateo
Thu Mar 28 2024
BTC operates on a peer-to-peer network, eliminating the need for intermediaries in transactions.
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Moonshadow
Thu Mar 28 2024
Users on this network, whether individuals or entities, can engage in bitcoin exchanges directly with each other.
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Caterina
Thu Mar 28 2024
This peer-to-peer architecture allows for a more decentralized and secure transaction system.
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SamuraiSoul
Thu Mar 28 2024
Bitcoin transactions are validated by the network through a consensus mechanism known as proof-of-work.
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TaekwondoMasterStrengthHonor
Thu Mar 28 2024
Bitcoin, the native cryptocurrency of the Bitcoin network, is simply referred to as BTC.
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