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Bitcoin and Crypto Currencies are digital forms of electronic money. They are different to the traditional fiat money system in three key ways: transactions are anonymous, you can create your own wallet bank account in minutes and the network is decentralised run through consensus of its participant…
Transaction malleability is a loophole in the bitcoin protocol that was most famously used in February 2014 to allegedly withdraw funds from Mt Gox.
A bitcoin paper wallet is just the Bitcoin private key printed on a piece of paper. Although paper is one particular medium of holding the private key there are other companies that have incorporated them into physical coins, such as Casascius.