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Bitcoin is a gossiping network. There is no hierarchy among the nodes, each node operates at equal privilege level. Bitcoin has an established protocol defining how nodes communicate with each other, and some stepping stones to find the first peers (although they could easily be replaced by other on-boarding mechanisms). Whenever a node learns new data on ...


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Let's say I transfer 2 bitcoin to Anuj account The Bitcoin network doesn't have accounts as such. You typically transfer money to a Bitcoin "address" given to you by the intended recipient. how much time maximum it will take to reflect in Anuj's account It depends on how busy the Bitcoin network is and on the transaction fee chosen by the sender....


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Is that even legal to do? Can someone create their own centralised cryptocurrency and let people buy/use it? What is legal/not-legal can change drastically depending on what jurisdiction you live within. If you have legal concerns, you should talk to a lawyer. Generally though, there is a history of powerful governments shutting down centralized digital-...


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It won't happen if the bosses of the pools are all ideal. In the real word, they may be lunatics or terrorists, they may be cheated or threatened. As long as they have the ability, the world is in danger. The traditional security is based on economics, or on rational persons. That is not enough. The goal of cryptocurrencies is to upgrade the security to be ...


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