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At this time in expertise teams they all the time say that bitcoin is only a forex, an idea of digital cash. However the issue with such an announcement for different individuals is just not contemplating that bitcoin is a community protocol for digital cash and never simply the idea of digital cash. Initially, as a result of, bitcoin is a community protocol, because it implements plenty of issues like BIPS (Bitcoin Proposals), on this case there’s a standardization and due to this fact the categorization of bitcoin is a community protocol, though individuals say which is is only a digital forex.
I learn these questions, and I’ve doubts:
My query is:
- Bitcoin a community protocol or is it only a idea of an encrypted forex?
Observe-up questions that will or will not be answered
- Can there be cryptocurrencies with no community?
- Are they various things: community protocol, idea of an encrypted forex?
- what are the traits of a community protocol?
- Can these traits be relevant to bitcoin?
requested 1 hour in the past
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Bitcoin is many issues, primarily
- A financial unit of measure
- An outlined community protocol
- A set of procedures, algorithms and many others by which one celebration can visibly switch digital money to a second celebration with none want for a trusted third celebration.
- A set of consensus guidelines voluntarily utilized by all contributors and observers which have a tendency to provide international consensus concerning the state of the cash provide and thus of management of quantities of cash.
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answered 27 minutes in the past
