Bitcoin is the first digital fully decentralized Peer-to-Peer currency.
Bitcoin quotation is based on trust, formed exclusively by supply and demand balance, not tied to any currency or other asset.
Unlike fiat money, Bitcoin has no authority body (central bank or state) which would sought to provide liquidity at a given level, obliged itself and/or others to accept payment in Bitcoins or could artificially reduce its purchasing power by an additional issue.
Bitcoin is electronic cash, not a debt obligation of the issuer, which distinguishes it from traditional electronic cash and non-cash payments.
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