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Sounds like a very complicated explanation of an Online Exchange, yet they compare it to the same anonymity as using Cash.Apparently there are some advantages to using Bitcoin, such as payment freedom, choosing your own fees, fewer risks for merchants, and security/control.Unfortunately, we need a little more time to make this website compliant with new GDPR guidelines, which take effect 5/25.You can read more about those guidelines at https://Where do these math problems come from and why is a whole network needed to solve them? Every time someone successfully creates a hash, they get a reward of 25 bitcoins, the blockchain is updated, and everyone on the network hears about it.That’s the incentive to keep mining, and keep the transactions working.
Oh, I get it, the miners use special software to solve math problems.It is a Peer to Peer Marketplace, meaning there is no middle man such as your Bank to charge a “transaction fee” or taxes; seemingly similar to “Craigslist, Etsy, or Ebay,” yet they say they’re different because there are no fees to list items and it offers Store Exposure.It uses a Bitcoin feature called “Multisignature Escrow” to prevent fraud.Reading Bitcoin Vocabulary helps to understand it a “bit” more. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a “subsidy” of newly created coins.
I don’t even know what a “Hashcash Proof of Work Function” is.Bitcoin payments are irreversible and NOT anonymous.