Bitcoin and chains · 06 / 86
Bitcoin
Bitcoin is a public list of transfers, aimed at moving value without a bank's permission. It is not a company, and it is not a promise of price.
What it is for
You can hold the keys yourself. No help desk can reset them for you. That is the point and the danger. There is no head office to reverse a payment you did not mean.
What it is not for
It is not anonymous by default. It is not fast or cheap at every moment. It does not stop you buying a worthless other coin that happens to be sold next to it.
People say Bitcoin when they mean the whole industry. Those are not the same thing.
Check yourself
Can Bitcoin support undo a mistaken payment?
No. There is no support desk for the chain.
After this you can say what holding bitcoin yourself protects, and what it does not.
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