What is bitcoin in simple words?
                     BITCOIN
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What Is Bitcoin In simple Words?
Bitcoin is a digital and global money system currency. It allows people to send 
or receive money across the internet, even to someone they don’t know or 
don’t trust. Money can be exchanged without being linked to a real identity. 
The domain name "bitcoin.org" was registered on 18 August 2008.On 31 
October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: 
A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing 
list.
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Pseudonymous
One of the contrasts between utilizing bitcoin and utilizing ordinary cash 
online is that bitcoin can be utilized without having a web association with 
interface such a genuine character to it. Except if somebody decides to 
interface their name to a bitcoin address, it is difficult to tell who claims the 
location Bitcoin doesn't screen customers; it screens keeps an eye on where 
the money is. Each address has two significant bits of cryptographic data, or 
keys: a public one and a private one. The public key, which is the thing that 
the "bitcoin address" is made from, is like an email address; anybody can 
find it and send bitcoins to it. The private location, or private key, is like an 
email secret word; just with it can the proprietor send bitcoins from it. 
Along these lines, it is vital that this private key is kept mystery. To send 
bitcoins from a location, you demonstrate to the organization that you own 
the private key that has a place with the location, without uncovering the 
private key. This is finished with a part of science known as open key 
cryptography.
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Public Key
A public secret is what determines the ownership of bitcoins, and 
is extremely just like an ID number. If someone wanted to send 
you bitcoins, all you'd must do is supply them your bitcoin 
address, which could be a version of your public key that's easier 
to read and kind. as an example, if Bobby has 1 bitcoin at the 
bitcoin address "UVW123," and Sunny has no bitcoins at the 
bitcoin address "XYZ456," Bobby can send 0.5 bitcoins to 
"XYZ456." As soon because the transaction is processed, Sunny 
and Bobby both have 0.5 bitcoins. Anyone using the system can 
see what quantity money "UVW123" has and the way much 
money "XYZ456" has, but they can not tell anything about who 
owns the address.
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Private Key
In the example above, "UVW123" and "XYZ456" are the bitcoin 
addresses of Bobby and Sunny. But Bobby and Sunny each have a 
second key which only they individually know. this is often often often 
the private key, and it's the "other half" of a Bitcoin address. The private 
secret isn't shared, and allows the owner of the bitcoins to manage 
them. However, if the private secret's not kept secret, then anyone who 
sees it should control and take the bitcoins there. This happened on live 
TV when Bloomberg's Matt Miller accidentally showed a non-public key 
to viewers. the cash was taken immediately. The one that took it, told 
others about it later, saying "I'll send it back once Matt gives me a 
unique address, since another person can sweep out the old one."
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