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Bitcoin is like cash in that transactions cannot be reversed by the sender.
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As such, it can operate without the need of a central authority like a central bank or a company. Will pi ever be on the same level as bitcoin? /r/bitcoin is primarily for news and discussion. It's like an online version of cash. Like gold, bitcoin cannot simply be created arbitrarily;
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It requires work to extract. while gold must be extracted from the physical earth, bitcoin must be mined via computational means.
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It does not rely on a central server to process transactions or store funds.
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