# facts about cryptocurrency

By [hassan malik](https://paragraph.com/@hassan-malik) · 2023-01-24

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facts about cryptocurrency

December 24, 2016

greetings

in case anyone is interested, I don't know much about BTC, but what I do know seems to be repeated many times, so I'm writing something down for future reference. I know nothing about the block chain, distributed systems, or Bitcoin at all.

1.  Bitcoin is unregulated. In fact, even as I'm writing this, (at 10:37 on 10/24/16) there's a small group of bitcoin enthusiasts out there who claim that regulation should be attempted to bring some order to the market, because that's what the state is for.
    
2.  Bitcoin is independent from the banking system, and in fact is bigger than the banking system. Bitcoin transactions are denominated in bitcoin, and when there are more bitcoin transactions that it's mathematically possible for someone to perform, it increments the block chain (bitcoin's public ledger), which is distributed globally. Because there are far more transactions that can be performed, it takes longer for your next transaction to be released than

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*Originally published on [hassan malik](https://paragraph.com/@hassan-malik/facts-about-cryptocurrency)*