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Bitcoin loses 16.7% in one day to $14,300

December 22, 2017, 13:56 UTC+3 MOSCOW

Bitcoin is a decentralized system based on blockchain technology

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© Alexander Demianchuk/TASS

MOSCOW, December 22. /TASS/. Bitcoin exchange rate has lost 16.7% in one day to $14,300, according to the data from the electronic cryptocurrency platform Coinmarketcap. This follows a record-breaking surge of 8.2% on December 16 when Bitcoin breached the $19,000 mark.

Bitcoin is a decentralized system based on blockchain technology, which any user participating in the system can ‘mine’ (emit) by creating new blocks of the structure using a computing device.

The system’s concept was first published in November 2008 by its author (or probably a group of authors) under the pseudonym of Satoshi Nakamoto. Bitcoin’s popularity, though, reached its peak just over the last several years. Its emission is naturally limited, and right now, the bulk of bitcoins have already been "mined".

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