Bitcoin is a digital currency, sometimes referred to as an encrypted currency, known as the first truly decentralized digital currency in the world. Trading is done on a peer-to-peer basis with a distributed ledger, Blockchain, and the exchange rate is determined to the US Dollar and other major currencies in terms of supply and demand as is the case with other global exchange rates. Pitcone's value has proved to be volatile through many boom and bust demand. But in the end, many see it as a store of value against government-backed banknotes.
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