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Bitcoin is a decentralized digital currency. Digital coins are transferred from person to person via the internet. This basically eliminates the need for a middle man to process these transactions for a processing fee. Bitcoins can be transferred for goods or services to and from people and businesses via the Internet. Because Bitcoin is a virtual money, it is completely open sourced. Each transaction has an electronic transaction code that is recorded in public ledger, called a block chain. Any person is eligible to view the blockchain, meaning all transactions are audited by the public, while allowing you to keep your transactions private if you never share your wallet address with anyone.
Who owns Bitcoin? Who is the company behind Bitcoin?
The people own bitcoin! Bitcoin is an open source money system that is like no other money system in the world. In the USA, there is the federal reserve. In England, it’s the Bank of England. In the bitcoin world, its the People Of The World. Many people are not sure who created the code, but it is said a Satoshi Nakamoto wrote a thesis on this open source system and some MIT students ran with it. Starting Your Bitcoin Wallet
This is an example of a wallet address 1JArS6jzE3AJ9sZ3aFij1BmTcpFGgN86hA. Think of this like a bank account number or your paypal email address. You can create as many wallets as you wish. Your bitcoin wallet is where you store, send, and receive bitcoins. The process of setting up your digital wallet on Bitcointa.com is easy and secure. Having your own bitcoin wallet makes you responsible for your bitcoins, not a centralized bank.