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Bitcoin Cryptocurrency Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. Bitcoin’s creator, Satoshi Nakamoto, released the original version of Bitcoin in 2008. Satoshi Nakamoto was able to release Bitcoin after solving a mathematical problem called the “Hash Function Clique” which uses cryptography to solve this problem in a way that is secure, fast and less expensive than conventional financial systems. Bitcoin uses strong encryption methods that are only known by the miners that are running the network. Bitcoin uses blockchain technology which gives a shared record of transactions that can be viewed by everyone in the network. Some analysts call Bitcoin the “Web 3.0 of Money.” What is Bitcoin? Bitcoin is a virtual currency, backed by nothing. It is not backed by any physical commodity like gold or silver. Unlike conventional currency, you can’t write a check for it and you don’t even need to be a bank to ac