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#Bitcoin
Importance
Bitcoin is important for several reasons:
1. **Decentralization**: Bitcoin operates on a decentralized network, which means it is not controlled by any single entity or government. This decentralization can provide a degree of financial freedom and security.
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FTX saw $6 BILLION of net withdrawals in past three days, CEO SBF told his staff - Reuters
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Challenges: Bitcoin also raises challenges, including regulatory and environmental concerns related to its energy consumption in the mining process.
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Overall, Bitcoin's importance lies in its potential to reshape finance and provide an alternative to traditional financial systems. However, it's essential to understand the risks and potential drawbacks associated with it.
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Bitcoin value hit clocked in at $43,394.80 on the exchange market. This value is an indication of good tidings for the cryptocurrency. Over the years, there has been such a growing interest in the Bitcoin currency that its value has grown to resemble that of gold.
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By this virtue, records stored in the blockchain network are permanent and immutable.
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Blockchain transactions are stored in chronological order marked by timestamps and hash functions.
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crypto mining?
It is what verifies and adds new cryptocurrency to the blockchain. To verify the transaction, a hugely complex mathematical equation needs to be solved first. The crypto miners are all fighting for the chance to be the first ones to crack the puzzle.
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