Bitcoins for Dummies (Me)
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Why do we use the online bitcoins instead of using an actual dollar billon certain websites? Well we didn’t know anything about the bitcoin. That was until Bill found out that he know someone who was selling pizza and accepting bitcoins. So let’s find out what they are all about.
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What is a bitcoin?
The bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.
How can you get bitcoins?
You can actually take the money that is in your account and transfer it to being a bitcoin. Just like what you would do to get any other type of currency such as Japanese Yen or French Franc. But American stores and restaurants don’t take Yen or Francs, they take bitcoins.
If you exchange 30 U.S. dollars you can get 26,000 bitcoins. Just remember that the value of the bitcoin, just like the value of any currency changes from day to day.
