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To: Vermont Lt

Do you get a certificate or some paper saying you are the owner?..............


44 posted on 12/03/2020 12:25:46 PM PST by Red Badger (Democrats cheat. ... It's what they do. ... GUARANTEED! ... Even if it's not necessary!....)
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To: Red Badger

Here is how it works:

Each bitcoin has an “address”. You buy the bitcoin from an exchange. I use Coinbase, a US company. Then I transfer the “address” to my wallet. My wallet is ONLY connected to the internet when I am sending or receiving.

The act of transferring the address is entered into the network and “everyone” confirms that Bitcoin now belongs to me.

The reverse is true if I want to sell it, or send it to someone in payment. They send me their address and I send them the bitcoin.

I have to confirm all transactions with a 2 stage authorizations system. That way there is even less chance of making a mistake or getting ripped off.

My wallet has settings on it that will force me to stop...and enter a pin before I move on with a transaction over X amount.

So, you are never going to use this to buy groceries. But you would never use gold to buy groceries either—you would convert it to dollars first.


57 posted on 12/03/2020 12:55:22 PM PST by Vermont Lt (We have entered "Insanity Week." Act accordingly.)
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