Bitcoin is an electronic money made in 2009 by Satoshi Nakamoto.the name is also associated with the open source software that he designed, and also uses a peer-to-peer network without centralized storage or a single administrator where the US Treasury calls the bitcoins of a decentralized currency. unlike most common currencies, bitcoin does not depend on trusting major publishers.bitcoins use a database that is distributed and spread to the nodes of a P2P network to a transaction journal, and uses cryptography to provide basic security functions, such as ensuring that bitcoins can only be spent by people owning them, andnever ever do more than once.
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Umm...yes, pretty much.