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Unlike traditional forms of cash, it isn't backed by a government or institution, and it's not. First some concepts to understand. Bitcoin is a form of digital money. It's called blockchain because it can be pictured exactly like a series of blocks that have been chained together. Bitcoin is a digital currency which operates free of any central control or the oversight of banks or governments.
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This means it doesn't have a physical form.
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Alice creates a transaction and sends it to the network.
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Once you've installed a bitcoin wallet on your computer or mobile phone, it will generate your first bitcoin address and. Unlike traditional forms of cash, it isn't backed by a government or institution, and it's not. This is a question often surrounded by confusion, so here's a quick explanation! These files are stored in a 'digital wallet' app on a smartphone or computer. Bitcoins are just the plural of bitcoin.
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These files are stored in a 'digital wallet' app on a smartphone or computer.
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