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Author Topic: [2014-09-04] When I Buy Bitcoin, What Am I Buying?  (Read 580 times)
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September 04, 2014, 03:15:33 AM

At the end of the day, what is a Bitcoin? A Bitcoin isn’t anything tangible, or even anything real. A Bitcoin is the acknowledgment of the miners of the network that you have ownership over a hundred million satoshi in their group ledger, the blockchain. Nothing less, and at first, it might seem, nothing more – until you realize just how much that means. Each of those hundred million satoshi could be used to represent an asset – tagged with a hashed message to signify its worth as something much greater than a satoshi. Remember “unique”? Uniqueness allows assignation of special properties.

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