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The software is also open source, meaning that anyone can look at it to make sure that it does what it is supposed to.
Setting up merchant accounts for payment is another Kafkaesque task, beset by bureaucracy.
However, you can set up a bitcoin address in seconds, no questions asked, and with no fees payable. Users can hold multiple bitcoin addresses, and they aren’t linked to names, addresses, or other personally identifying information. …bitcoin stores details of every single transaction that ever happened in the network in a huge version of a general ledger, called the blockchain. If you have a publicly used bitcoin address, anyone can tell how many bitcoins are stored at that address. There are measures that people can take to make their activities more opaque on the bitcoin network, though, such as not using the same bitcoin addresses consistently, and not transferring lots of bitcoin to a single address. Read more to find out how bitcoins are mined, what happens when a bitcoin transaction occurs, and how the network keeps track of everything.
All you have to do is answer a couple of simple questions and you’re ready to go.
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