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Explain BITCOIN to Complete Beginners: Ultimate Guide!!Bitcoin (BTC) is a digital or virtual currency created in that uses peer-to-peer technology to facilitate instant payments. Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out.