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Bitcoin: your LAST chance NOW!!!PDF | Bitcoin is a digital, decentralized, partially anonymous currency, not backed by any government or other legal entity, and not redeemable for gold. Bitcoin, also known as a decentralized virtual currency (DVC), is regulated differently in the People's Republic of China (PRC), Canada, and the. Bitcoin is an attempt to establish an autonomous decentralised digital currency and payment system, making online transactions purely peer-to-.