Bitcoin has a number of features that allow it to stand out in a group of of government back currencies. 1) Bitcoin is easy to set up: traditional Bank often make you jump through hoops just to open up a bank account, and with Bitcoin, you can create a bitcoin address in a matter of second no question of it I mention you could set up your Bitcoin address with no fees payable? 2) Bitcoin is anonymous: okay, Bitcoin is kind of anonymous. You are able to hold multiple Bitcoin addresses and they will not be linked to your name address or any other information that could be used to personally identify the user. 3) Bitcoin is 100% transparent: however Bitcoin stock detail of every transaction that ever happened in the network in a message varies of a general ledger, known as a blockchain. Basically, the blockchain tiles all. You have a publicly used Bitcoin address other user can tell how many Bitcoins are currently stored at that address but they were not now that it's your. 4) Bitcoin is decentralized: as mentioned the Bitcoin network is not controlled by one Central authority every single machine that mines the currency and process transactions make up a part of the Bitcoin Network and all of the machine work in Unison. What does this mean? It means, in theory, one Central authority cannot match with monetary policy and causes a meltdown or decide to take peoples Bitcoins away from them if parts of the Bitcoin network go offline the money keep flowing. 5) Bitcoin is fast: users are able to send money anywhere in the world and it will arrive in minutes as soon as the network processes the payment . 6) Bitcoin is non-repudiable: after you send your Bitcoin, you will not get them back. That is unless the recipient IT returns damn to you. if not, say goodbye because they are gone forever. 7) transaction fees are very small: it's possible that your bank might charges you a $10 fee for International fees, but Bitcoin won't . What
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