Bitcoin Network System

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A Bitcoin Network System is a decentralized network that is a distributed peer-to-peer open source cryptocurrency system.




  1. Template:Cite news
  2. Peterson, Andrea (January 27, 2014). "This map shows which countries are friendly to Bitcoin". The Switch. The Washington Post. Retrieved 28 January 2014. 
  3. Kelion, Leo (18 December 2013). "Bitcoin sinks after China restricts yuan exchanges". BBC. Retrieved 20 December 2013. 
  4. For theft, see *For lack of chargebacks, see
  5. Grocer, Stephen (Jul 2, 2013). "Beware the Risks of the Bitcoin: Winklevii Outline the Downside". Moneybeat. The Wall Street Journal. Retrieved 21 October 2013. 
  6. For growth in merchant numbers, see * For cheap payment processing costs, see


  • (Wikipedia, 2014) ⇒ Retrieved:2014-6-1.
    • The most important part of the bitcoin system is a public ledger that records financial transactions in bitcoins. Recording transactions is accomplished without the intermediation of any single, central authority. Instead, multiple intermediaries exist in the form of servers running bitcoin software. By connecting over the Internet, these servers form a network that anyone can join. Transactions of the form payer X wants to send Y bitcoins to payee Z are broadcast to this network using readily available software applications. Bitcoin servers can validate these transactions, add them to their copy of the ledger, and then broadcast these ledger additions to other servers.[1]