Who owns bitcoin and how does it work?

3 answers

• sambhaji sawantApr 05, 2024 · a year ago
  Bitcoin is a decentralized digital currency, which means it is not controlled by any central authority or government. Instead, it is owned by the people who use it. When you own bitcoin, you have a digital wallet that contains your bitcoin balance. Transactions are recorded on a public ledger called the blockchain, which is maintained by a network of computers called miners. These miners verify and validate transactions, ensuring the integrity of the network. So, in short, bitcoin is owned by its users and operates on a decentralized network.
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• Gregory JohnSep 27, 2023 · 2 years ago
  Bitcoin is owned by the people who hold it. It's like having cash in your wallet. When you own bitcoin, you have control over it and can send it to others or use it to make purchases. The ownership of bitcoin is recorded on the blockchain, which is a public ledger that keeps track of all transactions. This ensures transparency and prevents fraud. So, anyone can own bitcoin as long as they have a digital wallet and the necessary knowledge to use it.
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• Igor OliveiraFeb 14, 2021 · 5 years ago
  Bitcoin is owned by the individuals who hold it in their digital wallets. It is not owned by any specific company or organization. The ownership of bitcoin is determined by the private keys associated with the digital wallets. These private keys are unique and are used to access and transfer the bitcoin. As for how it works, bitcoin operates on a technology called blockchain, which is a decentralized and transparent ledger. This means that every transaction is recorded and verified by multiple computers in the network. So, the ownership of bitcoin is distributed among its users and is secured by the blockchain technology.
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