Critics of Bitcoin often argue that it’s useless as a means of payment, one of the key elements of any successful currency. That’s not quite right, and likely to become less so. First, a reminder on how Bitcoin works.
If I want to send someone some Bitcoin, I simply broadcast my intention to the network. I then wait for the transaction to be picked up by “miners,” who process transactions in return for fees and newly minted Bitcoin. If all goes well, my transaction will be included in a block, which becomes part of the global immutable ledger known as the Bitcoin ...
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