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Doesn't bitcoin require a huge amount of processing power? I don't quite understand how "bitcoin mining" works. To me, it seems like bitcoin is a cross between a commodity and a credit card. This currency is perfect for criminals, as it leaves no trace. It is ripe for abuse as we see with all the computer hacking/hostage taking and demanding payment in bitcoin. I just don't see the positives outweighing the negatives.
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