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A novel solution accomplishes this without any trusted central authority: Archived from the original on 19 August Retrieved 31 October

Archived PDF from the original on 5 December Retrieved 20 February A novel solution accomplishes this without any trusted central authority: Archived from the original on 28 August Retrieved 21 April

In Januarythe bitcoin network came into existence after Satoshi Nakamoto mined the first ever block on the chain, known as the genesis block. Bitcoin has been criticized for the amounts of electricity consumed by mining. Retrieved 21 April

Retrieved 20 February Archived from the original on 27 April When a user sends bitcoins, the user designates each address and the amount of bitcoin being sent to that address in an output. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Archived from the original on 21 October

When a customer pays in bitcoin, the payment service provider accepts the bitcoin on behalf of the merchant, converts it to the local currency, and sends the obtained amount to merchant's bank account, charging a fee for the service. Archived from the original on 19 September Retrieved 14 March Archived from the original on 26 November