If you have been following the news recently, you probably know what Bitcoin is. It is a digital currency or cryptocurrency—or to use the language of Bitcoin’s enigmatic creator, Satoshi Nakamoto, a “peer-to-peer electronic cash system”—that was first introduced to the world in 2008.
You probably also know that Bitcoin has had a somewhat checkered past. For example, Bitcoin was the only form of payment accepted by Silk Road, the online drug bazaar that was shut down in 2013, and is frequently the cryptocurrency of choice for ransomware hackers who demand Bitcoins in exchange for unfreezing your computer files.
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