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Phrases with «bit gold»

"Bit gold" refers to a virtual form of money or currency that exists only digitally. It is similar to Bitcoin and other cryptocurrencies, where transactions are recorded and verified using computer algorithms. Bit gold is a term that first originated in the early 2000s as a precursor to Bitcoin, representing a decentralized, digital currency system. Full definition

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Sentences with «bit gold»

  • Bitcoins are based on the growing idea of a cryptographic currency that in 1998 was described by Wei Dai as b - money and by Nick Szabo as bit gold. (bitcoin.de)
  • This shouldn't surprise, as inventor Satoshi Nakamoto compared it to a «metal as scarce as gold», and the concept of bitcoin was explicitly called an «implementation of Nick Szabo's bit gold proposal». (internationalbanker.com)
  • This was further backed up by the fact that Szabo had created a digital currency called bit gold as well, which bears striking similarities to early Bitcoin ideas. (thenextweb.com)
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