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Bitcoin Trading for Beginners (A Guide in Plain English)But Bitcoin is a currency that does not have any centralized government or authority to control and decide its value. It is a decentralized. Despite their high valuations on paper, a collapse of Bitcoin and other cryptocurrencies is unlikely to rattle the financial system. Banks have mostly stayed on. Bitcoin (BTC) is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group.