What is Bitcoin?

Weratti

Solid State Member
Messages
10
Location
Canada
To quote from a fairly comprehensive article on Bitcoin that I think is a good definition:

"Bitcoin is an electronic store of value and medium for trade, that uses a combination of algorithms and other code to replace the need for a trusted central bank, and allows for quasi-anonymous direct transfers of value between peers, without middlemen."
Bitcoin as a technology is too complicated to comprehend it by reading only 1 article :) If you want to fully understand what BTC is better get the book by Kalle Rosenbaum "Grokking Bitcoin", available on Amazon. It is quite thick (about 500 pages) but after reading it I am sure that you will have no questions unanswered :)
 

rossmiller

Beta member
Messages
1
Location
new york
Yeah, in order to fully understand all the complications of bitcoin cryptocurrency you really need to read much about it to know for sure how it works and don't get fooled by some scammers. This cryptocurrency was created like much other digital money to keep users anonymous. I lost my money when I bought something and hackers discovered all my transactions and my data. So I found a way to protect my personal information and keep my privacy. I use a bitcoin mixer service that helps me to protect my data and make the transactions untraceable.
 
Last edited by a moderator:

DaviFlody

Beta member
Messages
3
Location
chicago
Right now, knowing what cryptocurrency is and how it works is a necessity. I think it should be taught in schools alongside math. It is becoming a huge part of our life and economy.
 

Wilsa

Beta member
Messages
1
Location
UK
Cryptocurrency is definitely the future of economics. Nowadays, its popularity and influence are growing at an enormous rate. The most popular cryptos like Bitcoin are being accepted and recognized as a form of payment in more and more places. People started gambling with crypto, these websites https://crypto-gambling.net/ are becoming way more popular than one might think. I love how at the beginning of this thread someone said that there was a time Bitcoin was worth $1 then 300$. Now Bitcoin is $40,743 and growing. The influence and reach of cryptos as a concept cannot be denied.
 
Last edited:
Top Bottom