Question

What is a Bitcoin?

How is the value of a Bitcoin determined?

Is there a "central bank" that issues Bitcoins?

Is there a "central bank" that controls the supply of Bitcoins?

Can you keep Bitcoins in a bank for safekeeping?

How does the Bitcoin compare to the US Dollar in terms of how it is valued, exchanged, and saved?

Has the Bitcoin held its value?

Solution Preview

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1. Bitcoin can be considered like cash for the Internet. It is based on the concept of digital money and is a new payment system. It does not have any central authority or middlemen and it is a decentralized peer-to-peer payment network. The users of the system control this network together. It is...

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