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Layman's bitcoin

 This post is all about bitcoin - what, why and how, purely for layman's out there. Its better to always "Start with why" Why bitcoin: It is obvious that there are certain problems with the existing currencies that paved the way for our bitcoin creator - Mr. Satoshi Nakamoto (Certainly Mr. X that's how the world knows him right now, Yes you are right! he is missing!) to create this secure, peer-to-peer transactable and decentralized currency - Bitcoin . Mr. Satoshi Nakamoto (Mr. X or group of companies as suspected) don't want the currencies to be centralized. Centralized means governed by an central authority namely Reserve Bank of India or Federal Banks as in other countries. They own the full control over the money we own. Don't you believe? If No then you are dreaming! come on, let me wake you. 1. These banks can print as much money as they want. So with more money people will tend you buy products or avail services. So demand in the market increases pa...

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