How is bitcoin different from traditional currency?
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A dollar bill also has no use other than what people are willing to pay for it. ... Stephen partially gets at the answer as to why Bitcoin differs from the dollar. It is “a currency not backed by any state – meaning nobody has to take it as paymen
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itcoin is a 'distributed' global currency that is not controlled
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However, a key difference between bitcoin and traditional fiat currencies is that while fiat currencies are legal tender that are backed by a government and controlled by a central bank, bitcoin is a 'distributed' global currency that is not controlled by any centralised entity and its supply automatically increases
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