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Practically speaking, Bitcoin is a form of digital money that (1) exists independently of any government, state, or financial institution, (2) can be transferred globally without the need for a centralized intermediary, and (3) has a known monetary policy that arguably cannot be altered. Bitcoin is a cryptocurrency created in 2009. Marketplaces called bitcoin exchanges allow people to buy or sell bitcoins using different currencies. Bitcoin is a new currency that was created True to its origins as an open, decentralized currency, bitcoin is meant to be a quicker, cheaper, and more reliable form of payment than money tied to individual countries

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