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What are Bitcoins?

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BitCoin is the first decentralized digital currency. It has many advantages. BitCoin isn’t actually a real thing you can hold in your hand, it is something on your phone, computer or mobile device. BitCoin is a form of money that can be sent through the internet, without having to go through banks, which lowers the fees.  You can send a BitCoin as quickly as an email. Another advantage of BitCoin is that you can use it in every country and buy anything with it. With BitCoin, your bank account cannot be frozen and there are no prerequisites or arbitrary limits! One amazing thing about BitCoin is the more people that buy it, the more valuable it gets! For example, if you bought a BitCoin for $13 in 2012 and then sold it on January 4, 2018, you would now have $14,998! BitCoin was created by a man named Satoshi Nakamoto who is anonymous. A satoshi is 1/100,000,000 of a BitCoin. You can buy many things using satoshis. For example, if I wanted to buy a shirt for $10, it might equal to two million satoshis. Then, the next day, depending on if BitCoin went up or down, those $10 could now be $20! BitCoin is a new way to send money and although many people are scared it might fail, others are feeling more hopeful.

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