Bitcoin Differences

Abstract

Existing centralized digital currency systems derive value from assets backing the digital units. Bitcoins have no assets backing the units. They are valued from being traded in public online market. In previous digital currency systems units were non-negotiable. Bitcoin units transfer value with each transaction and hold more obvious cash-like features than previous digital currency products. Bitcoin transactions are pushed from a user account, opposite of bank checks and credit cards that are pulled out by someone other than the account owner. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.