๐Ÿ“ขBITCOIN EXPLAINED SIMPLY YOUTUBE VIDEO 2018 ๐ŸŒ๐Ÿ’ ๐ŸŒž


the bitcoin inventor
Satoshi Nakamoto remains a mystery he created the Bitcoin as new money but today people considers it more like Gold Bitcoin is not connected to banks let alone to government it is a democratized money (decentralized) it is transferred from a person to person Bitcoin value it volatile, its price is set by the market the blockchain will replace the bank, it is an online book that records all transactions people will create bitcoins with
their computers by solving mathematical problems and we will reward them with
some bitcoins, this activity is referred as mining, mining nowadays with the
computer is no longer profitable this Bitcoin is challenge to fiat currency,
Fiat currency is a government currency like dollar the Bitcoin is supposed to be easier, faster, with smaller fees than fiat. All we need is a
wallet, the Bitcoin wallet is a progam its main functions are sending and
receiving bitcoins. Six years ago the bitcoin price was only 20 cents
why the Bitcoin price today is high first, bitcoin scarcity we have only 16
million bitcoins now for 7 billion people, second
the bitcoin production is decreasing over time we have more people mining
bitcoins and less bitcoins are found because the bitcoin algorithm is
designed like gold if the gold has an unlimited supply it will worth
nothing, more than that the bitcoin was built on a dream it
may be one day the word currency and it will replace all our fiat currencies

One thought on “๐Ÿ“ขBITCOIN EXPLAINED SIMPLY YOUTUBE VIDEO 2018 ๐ŸŒ๐Ÿ’ ๐ŸŒž

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