Daily Bell: Thanks for sitting down. Let's start with some background on bitcoin. Jesse Heaslip: Bitcoin is an increasingly popular protocol introduced in 2009 by "Satoshi Nakamoto." No one knows who he is, even today, but he placed a white paper on the Internet that explained how a peer-to-peer electronic currency would work and the ecosystem flourished from there. Daily Bell: Is it money? Jesse Heaslip: Bitcoin is a cryptocurrency. Every transaction updates a public ledger called the blockchain. The blockchain permanently records every single transaction. Bitcoins are created through a process called mining. People "mine" them electronically by solving mathematical equations. This is known as "proof of work," and those who participate are known as miners. Successful miners receive transaction fees and new bitcoins.
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