Bitcoin Explained For Dummies
Bitcoin Explained For Dummies. The software part is taken care of by a software program called cryptography. It's like an online version of cash.
We put the power in your hands to trade cryptocurrencies All bitcoin transactions are documented on a virtual ledger called the blockchain, which is accessible for everyone to see. A single bitcoin is currently worth about $42,200, with a total market cap value of just under $800 billion (updated jan 10, 2022).
Bitcoin Can Be Sent Quickly And Securely From Any Point In The World To Another;
Bitcoin is the first decentralized digital currency. Simply put, they do this by grouping every new bitcoin transaction made during a set time frame into a block. No government entity decides how much and when to release it into the world.
January 10, 2022 • Crypto.
Bitcoin’s advantages are efficiency, permanency, security and transparency. A single bitcoin reached $20k in value at the end of 2017. Bitcoin gives you complete control over your money, unlike other assets you own which are regulated by banks and governments.
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In 190 seconds we explain what bitcoin actually is, where the idea came. Bitcoin explained simply for dummies. When someone sends a bitcoin to someone else, the network records.
Initially, This Is Confusing For People, But Unlike Dollars, Euros, Pesos, And Pounds, Not Only Is There No Physical Bitcoin, But There’s No Digital Bitcoin Either — Nothing You Can Point At And Say, “Look, There’s A Bitcoin.” Instead, The Bitcoin Is Just Represented By The Ledger Saying That The Bitcoin Exists.
And those that mine them are called miners. Bitcoin is a cryptocurrency, but it is also a concept and an idea. However, the real genius is in the invention of the blockchain.
Satoshi Nakamoto, The Creator Of Bitcoin Created It To Give The People The Power Of Their Money.
Transactions are bundled into a block. * i am not a financial advisor this is not financial advice*today’s episode is actually a course that i put together a few months back. Bitcoin was created to combat the financial crisis that happened as the banks had too much power.
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