RE: LeoThread 2023-05-24 17:10

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25 things you should know about Bitcoin

#threadstorm

1. Bitcoin is a decentralized digital currency.

Comments

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1. It was created in 2009 by an unknown person or group using the name Satoshi Nakamoto.

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1. Bitcoin transactions are verified by network nodes through cryptography and are recorded on a public ledger called a blockchain.

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1. There will only ever be 21 million Bitcoins in existence.

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1. Bitcoins can be exchanged for other currencies, products and services.

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1. The smallest unit of a Bitcoin is called a satoshi.

[abu78]

Thanks for this, I never knew about this before, now I know.

[randumb]

all of these are solid foundational facts for those new to BTC.

so many people still think you have to buy a whole BTC and they dont understand that it's broken down in to 8 decimal places so it can be used a currency & be bought in parts

[cyclopshive]

1. Bitcoin has been referred to as a" digital gold" due to its limited supply and potential value as a store of value.

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1. The first Bitcoin transaction was the purchase of two pizzas for10,000 BTC in May2010.

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1. Bitcoin is not controlled by any government or organization.

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1. Bitcoin transactions are irreversible once confirmed on the network.

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1. Bitcoin transactions do not require personal information to be exchanged.

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1. Bitcoin's price is highly volatile and can fluctuate rapidly.

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1. Bitcoin wallets can be stored on personal devices or online services.

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1. Bitcoin is often used for illegal transactions due to its anonymity and ease of use.

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1. Bitcoin mining involves utilizing computer hardware to solve complex mathematical problems for the purpose of verifying transactions and earning new Bitcoins.

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1. Bitcoin mining difficulty increases over time, making it more difficult to profit ably mine Bitcoin.

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1. Mining Bitcoins requires a significant amount of energy consumption and has been criticized for its environmental impact.

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1. Bitcoin's early adopt ers have become wealthy due to the appreciation of Bitcoin's value over time.

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1. Many mainstream companies now accept Bitcoin as payment for their products or services

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1. Bitcoin's decentralized nature makes it immune to government-backed inflation.

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1. Bitcoin provides an alternative to traditional banking systems and can be used anywhere with internet access.

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1. Bitcoin's market capital ization is currently around$630 billion USD.

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1. Bitcoin has a high degree of security due to its decentralized nature and cryptographic design.

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1. Bitcoin has undergone several" hard forks," resulting in the creation of new cryptocurrencies such as Bitcoin Cash and Bitcoin SV.

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1. Bitcoin has faced criticism from environmental ists due to the amount of energy used in mining.

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That's all for this threadstorm