Bitcoin: What Is It and Why Should You Care? | SmartAsset
If you still can’t figure out what the heck a bitcoin is, this simple explanation for a five-year-old may help you … We’re sitting on a park bench. Oct 31, 2018 · Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual. It's like an online version of cash. You can use it to buy Bitcoin, the first cryptocurrency, is a decentralized form of digital cash that eliminates the need for traditional intermediaries like banks and governments to make financial transactions. Bitcoin grew greatly in last few months, especially since the hard fork involving Bitcoin Cash in August 2017. Since that moment, there has been a sharp increase in numbers of traders and people that became quite interested in BTC and in cryptocurrency industry as a whole. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money. Jun 16, 2020 · Bitcoin is a cryptocurrency developed in 2009 by Satoshi Nakamoto, the name given to the unknown creator (or creators) of this virtual currency. Transactions are recorded in a blockchain, which Jan 10, 2017 · Bitcoin is an unregulated virtual currency designed to eliminate the "middleman" from financial transactions and enable direct, anonymous transactions between users.
What Is Bitcoin? | The Motley Fool
Dear Bitconfused, As you've noted, Bitcoin is a digital currency used to pay for a variety of goods and services. In many ways, it works the same as paper money with some key differences. Although Sep 25, 2019 · Bitcoin protects itself from exactly the economic reason why high prices are the solution to high prices. The choice is clear for players in this game of speculation, steer clear or buy the dip. Jul 24, 2020 · About Bitcoin. Bitcoin is the original cryptocurrency released in 2009 as open-source software.It is a digital currency predicated on cryptographically secure transactions, a proof-of-work consensus model, and a decentralized, P2P distributed ledger network.
May 11, 2020 · Bitcoin is a digital currency created in January 2009 following the housing market crash. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous Satoshi Nakamoto. The
Jul 24, 2020 · About Bitcoin. Bitcoin is the original cryptocurrency released in 2009 as open-source software.It is a digital currency predicated on cryptographically secure transactions, a proof-of-work consensus model, and a decentralized, P2P distributed ledger network. Bitcoin is an interesting form of currency that arose to address economic problems related to Centralized Currency. Because Bitcoin is not a physical form of currency, it can be a bit difficult to wrap your brain around how it works. It’s really quite simple. Bitcoin is a form of digital currency that was founded during … Oct 09, 2018 · Mining bitcoins offers the potential for profit, but brings quite a few costs with it, too. TheStreet explains the process of mining and whether it is worth it. Mar 22, 2011 · Learn about Bitcoin with the most watched Bitcoin video. More information: Start Guide - https://www.weusecoins.com Mining Guide - https://www.bitcoinmining.