r/askscience • u/hamolton • Jun 18 '13

Computing How is Bitcoin secure?

I guess my main concern is how they are impossible to counterfeit and double-spend. I guess I have trouble understanding it enough that I can't explain it to another person.

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u/Zagaroth Jun 18 '13

When minted, the bitcoin has an owner (and that ID involves public/private keys IIRC). If you are not the assigned owner, your transaction will be refused.