bitcoin greece – Bitcoints

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Published on July 21st, 2015 | by bitcoin

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bitcoin greece

Information about bitcoin greece

Bitcoin

Bitcoin is a payment system invented by Satoshi Nakamoto, who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without needing an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain. The ledger uses its own unit of account, also called bitcoin. The system works without a central repository or single administrator, which has led the US Treasury to categorize it as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value.
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. This activity is called mining and the miners are rewarded with transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for different currencies, products, and services. Users can send and receive bitcoins for an optional transaction fee.
Bitcoin as a form of payment for products and services has grown, and merchants have an incentive to accept it because fees are lower than the 2–3% typically imposed by credit card processors. Unlike credit cards, any fees are paid by the purchaser, not the vendor. The European Banking Authority and other sources have warned that bitcoin users are not protected by refund rights or chargebacks. Despite a big increase in the number of merchants accepting bitcoin, the cryptocurrency doesn’t have much momentum in retail transactions.
The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and media. Criminal activities are primarily centered around black markets and theft, though officials in countries such as the United States also recognize that bitcoin can provide legitimate financial services.

Greece

Greece (/ɡriːs/ GREESS; Greek: Ελλάδα, Elláda [eˈlaða]), officially the Hellenic Republic (Greek: Ελληνική Δημοκρατία, Ellīnikī́ Dīmokratía [eliniˈci ðimokraˈti.a] listen ) and known since ancient times as Hellas (/ˈhɛləs/; Greek: Ελλάς, Ellás), is a country located in southeastern Europe. According to the 2011 census, Greece’s population is around 10.8 million. Athens is the nation’s capital and largest city, followed by Thessaloniki, which is the second largest city and it is commonly referred to as the co-capital.
Greece is strategically located at the crossroads of Europe, Asia, and Africa. Situated on the southern tip of the Balkan peninsula, Greece shares land borders with Albania to the northwest, the Republic of Macedonia and Bulgaria to the north and Turkey to the northeast. The country consists of nine geographic regions: Macedonia, Central Greece, the Peloponnese, Thessaly, Epirus, the Aegean Islands (including the Dodecanese and Cyclades), Thrace, Crete, and the Ionian Islands. The Aegean Sea lies to the east of the mainland, the Ionian Sea to the west, and the Mediterranean Sea to the south. Greece has the longest coastline on the Mediterranean Basin and the 11th longest coastline in the world at 13,676 km (8,498 mi) in length, featuring a vast number of islands (approximately 2,000, of which 227 are inhabited). Eighty percent of Greece is mountainous, of which Mount Olympus is the highest peak at 2,917 m (9,570 ft).
The modern Greek state, which was established in 1830 following the war of independence from the Ottoman Empire, traces its roots to the civilization of Ancient Greece, which is considered the cradle of all Western civilization. As such, Greece is the birthplace of democracy, Western philosophy, the Olympic Games, Western literature, historiography, political science, major scientific and mathematical principles, and Western drama, including both tragedy and comedy. The cultural and technological achievements of Greece have greatly influenced the world, having been imparted to the East through Alexander the Great’s conquests, and to the West via incorporation into the Roman Empire and the succeeding Byzantine Empire. Furthermore, the Greek Orthodox Church transmitted Greek traditions to the wider Orthodox World while shaping the modern Greek identity. Greece’s rich legacy is also reflected by its 17 UNESCO World Heritage Sites, among the most in Europe and the world.
Greece is a democratic and developed country with an advanced high-income economy, a high quality of life and a very high standard of living. A founding member of the United Nations, Greece was the tenth member to join the European Communities (precursor to the European Union) and has been part of the Eurozone since 2001. It is also a member of numerous other international institutions, including the Council of Europe, NATO, OECD, OSCE and the WTO. Greece, which is one of the world’s largest shipping powers, has the largest economy in the Balkans, where it is an important regional investor.

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