How does bitcoin work? Simple explanation

By October 29, 2014Bitcoin Entertainment

How does bitcoin work? Simple explanation

Simple explanation of bitcoin transactions
What is Bitcoin?
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Since anything digital can be copied over and over again, the hard part about implementing a digital payment system is making sure that nobody spends the same money more than once. Traditionally, this is done by having a trusted central authority (like PayPal) that verifies all of the transactions. The core innovation that makes Bitcoin special is that it uses consensus in a massive […]

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