BITCOIN ~ COMMODITY, CASH, OR DIGITAL ~ FEDERAL RESERVE STUDY
Bitcoin is the first viable digital currency/money that is decentralized and peer to peer in nature.There is no central power, or government creation, and no treasury that controls it.
“The researchers went on to point out the recognisable traits that Bitcoin does have, before moving on to whether bank-issued virtual money even has a purpose at all.
The special feature of cryptocurrencies is that they combine the transactional advantages of virtual money with the systemic independence of decentralized transaction processing. Furthermore, as with gold, the creation of new Bitcoin units is competitive. Anyone can engage in the creation of new Bitcoin units by downloading the respective software and contributing to the system.”
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