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Los Angeles Soon To Get Its First Bitcoin ATM
Los Angeles is soon to become the latest major city to acquire its very own bitcoin ATM. Beginning next week, local bitcoin users will be able to buy and sell the digital currency via Robocoin’s flagship machine.
Bitcoin –A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
Bitcoin-to-Bitcoin transactions are made by digitally exchanging anonymous, heavily encrypted hash codes across a peer-to-peer (P2P) network. The P2P network monitors and verifies the transfer of Bitcoins between users. Each user’s Bitcoins are stored in a program called a digital wallet, which also holds each address the user sends and receives Bitcoins from, as well as a private key known only to the user.
