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Kenigsberg, Ben (2 October 2014). "Financial Wild West". The New York Times. Archived from the original on 18 May 2015. Retrieved 8 May 2015.

Michel, Lincoln (16 December 2017). "What the Hell Is Bitcoin Let This Documentary on Netflix Explain". GQ. Retrieved 10 October 2018.

"Introducing Ledger, the First Bitcoin-Only Academic Journal". Motherboard. Archived in the original on 10 January 2017.

"How to Write and Format an Article for Ledger" (PDF). Ledger. 2015. doi:10.5195/LEDGER.2015.1 (inactive 18 March 2018). Archived (PDF) from the original on 22 September 2015.

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To enjoy the CBBC Newsround website at its finest you will need to have JavaScript turned on.WATCH: Ayshah's report on the upswing of this BitcoinToday is the tenth anniversary of this virtual currency Bitcoin. But on its own birthday it might be worth by the end of year than it had been on its previous birthday - for only the second time since it arrived in the digital wallet.In late October 2017, bitcoin was worth just under 5000 - now it is worth only a little more.

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It's like an online version of cash. You can use it to buy products and solutions, but not many stores accept Bitcoin yet and some countries have banned it altogether.The bodily Bitcoins you see in photos are a novelty. They'd be worthless without the private codes printed inside them.How does Bitcoin workGetty ImagesA Bitcoin wallet program on a smartphoneEach Bitcoin is basically a computer file that's saved in a'digital wallet' program on a smartphone or computer.People can send Bitcoins (or part of one) to your pocket, and also you can send Bitcoins to additional people.Every single transaction is recorded in a public list called the blockchain.

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How do people get BitcoinsDenes FarkasThere are 3 main ways people get Bitcoins.You can purchase Bitcoins using'real' money. You can sell things and allow people pay you with Bitcoins.Or they can be made using a computer.How are new Bitcoins createdReutersPeople build exceptional computers to generate BitcoinsIn order for the Bitcoin system to operate, individuals can make their computer procedure transactions for everybody.The computers are made to work out incredibly difficult amounts.

This is named mining.But the sums are becoming more and more difficult to stop too many Bitcoins being generated.If you started mining now it might be years before you have a single Bitcoin.You might end up spending more money on power for your pc than the Bitcoin would be worth.Why are Bitcoins valuableReutersBitcoins are valuable only because people believe they areThere are a lot of things other than money which we consider valuable like gold and diamonds.

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Folks can spend their Bitcoins fairly anonymously. Although all transactions are recorded, nobody might know which'account number' was yours unless you advised them.Is it secureGetty ImagesEvery transaction is recorded publicly so it is very difficult to replicate Bitcoins, make bogus ones or spend ones that you don't own.It is possible to lose your Bitcoin wallet or delete your Bitcoins and discard them forever.

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The value of Bitcoins has gone up and down over the years since it was made in 2009 and a few people don't think that it's safe go to the website to turn your'actual' money into Bitcoins. .

The Bitcoin world is abuzz with both excitement and fascination and the opportunity for upside potential to skyrocket. Everyone from everyday Joes to trusted specialists is betting on Bitcoins success.Its been a wild 8 years since Bitcoins release. Most notably, weve seen headlines of people that fortuitously bought bitcoins early on turn into kid-millionaires.

However, the Bitcoin platform is far from anarchy.The whole process is really simple and organized: Bitcoin holders can transfer bitcoins by means of a peer-to-peer network. These transfers are tracked on the blockchain, commonly known as a giant ledger. This ledger records each bitcoin transaction ever made. Every block in the blockchain consists of a data structure based on encrypted Merkle Trees.

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In case a single file in a chain is corrupt or fraudulent, the blockchain prevents it from damaging the rest of the ledger.Instead of relying on a government to print new currency, Bitcoins blockchain programming handles when bitcoins are created and check this how many are generated. It also keeps tabs on where bitcoins are and ensures the transactions are accurate.There are currently about 17 million bitcoins in circulation.

The entire supply to ever be generated is capped at 21 million bitcoins.This cap raises an argument that Bitcoin might have difficulties scaling. However, since Bitcoin is essentially infinitesimally divisible (meaning consumers can transfer as few as 0.00000001 bitcoins), this doesnt really produce a scaling issue. The magical number of 21 million is arbitrary.Its believed that Bitcoin was designed to develop into a deflationary currency to fight the governments utilization of inflation as a hidden taxation to redistribute earned riches.

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