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Bitcoin the "digital coin" is a digital currency, at the same time the name of the decentralized booking system that can be used worldwide and the simplifying designation of a cryptographically legitimated allocation of labor or computational effort. Transfers are made by a combination of computers via the Internet using a special peer-to-peer system. Peer application, so that no central clearinghouse is needed, unlike traditional banking. Proof of ownership of Bitcoin can be stored in a personal digital wallet. The conversion rate of Bitcoin into other means of payment is determined by supply and demand.
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