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RE: Bitcoin Mining Comes to Washington State

in #bitcoin6 years ago (edited)

Is Bitcoin the same thing as a digital currency? Yes, maybe in some ways or in a general definition. But I would argue that cryptocurrencies are generally, by design, by the fact that it is decentralized by nature, normally through blockchain systems, and more importantly that Bitcoin (which is a cryptocurrency) uses cryptography which normal digital currencies do not use as far as I know.

Therefore, Bitcoin is not exactly adjacent to digitalized dollars in a normal centralized banking system that uses fiat money from Rothschild, from the Federal Reserve System (FRS), from governments around the world. Money has been digitalized and wired from bank to bank for decades now. And the ability to wire money is not new but cryptocurrency is different because of the "crypto" or cryptography aspect of it. I encourage people to research cryptography and the blockchain system and the decentralized concept, those three things, if they have not and if they want to know more.