What is Bitcoin ?


Bitcoin: A Peer-to-Peer Electronic Cash System
The Bitcoin whitepaper is 9 pages long and consists of an Abstract and 12 sections. While i have read many articles about Bitcoin (see references below), for the purposes of this post i refer to the whitepaper “Bitcoin: A Peer-to-Peer Electronic Cash System” only:

Bitcoin Whitepaper: ABSTRACT –
Satoshi Nakamoto outlines:

The Problem:
There is no way of making peer-to-peer payments online that bypass financial institutions. Some solutions exist that utilise digital signatures, but these require a trusted third party to ensure that the digital value is not spent more than once (double spending)
The Solution:
A pure peer-to-peer network that hashes transactions, using cryptography, into a chain of hash-based proof-of-work records
The chain provides proof of the chronological sequence of transactions and the verification from “honest” nodes that collectively control the largest pool of CPU power

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The global financial landscape is undergoing rapid transformation led by the creation of modern future proof cryptocurrencies. Cryptocurrencies are the future of money.  Their universal access allows anyone with an internet connection to utilize the power of this innovative technology. Payment Coin (POD) is simply a faster next generation form of digital cash than Bitcoin.