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Old 05-17-2011, 01:16 AM   #56
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Member#: 45392
Join Date: Oct 2003
Chapter/Region: Tri-State
Location: Brooklyn

Okay... I went to Wiki to learn about this and it's already talking over my head. Same with this thread. Can someone n00b me out on what a Bitcoin even IS?

My guess: Is it a digital currency that passes P2P without any regulations from banks and governments? Thus you live in the "Bitcoin world", buy REAL things from other Bitcoin "sellers", who then take your "fake" Bitcoin "money" to buy things themselves in the Bitcoin marketplace? Am I getting that right? I don't need to know where they come from, just what they are.

In other words, it's a new form of currency that the buyers/sellers accept as being real?
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