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Bitcoin is a decentralised digital currency that enables near instant online payments to anyone, anywhere in the world.
Bitcoin uses a peer-to-peer network technology called the blockchain to operate with no central authority.
Bitcoins have all the desirable properties of good money but in a digital form. They are portable, durable, divisible, recognisable, fungible scarce and difficult to counterfeit.
Bitcoin was designed around the idea of using cryptography to control its creation and transfer around the network, rather than relying on central authorities or third parties.
Bitcoin transactions are: