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The History Of Bitcoin: Genesis BlockWe define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction. Chain letters have been around for decades. Today's twist: online chain referral schemes involving cryptocurrencies like bitcoin and Litecoin. The nonagenarian said there's been an �explosion of gambling� while comparing Bitcoin to roulette, sports booking and chain letters.
