Nothing seems to be getting the same amount of buzz as Bitcoin these days. This new currency has made its early investors rich and yet many people still don’t know anything about this mysterious new currency.
Bitcoin, in the simplest terms, is a digital currency and the first established “cryptocurrency.” Using a revolutionary technique called “blockchaining,” Bitcoin became a secure way to keep digital currency from being reproduced.
Blockchaining allows users to securely and anonymously trade coins without having to worry that the coins they are receiving are digitally copied from real coins. Bitcoin owners actually own the private keys used to access Bitcoins.
You can receive Bitcoin one of two ways; trading goods or services for coins or “mining” them.
Mining is just a term used to describe the process of creating new Bitcoins for the market. Extremely powerful computers solve complex math equations and when they are solved a new block for a blockchain is made. As more coins enter the market the equations become harder and harder to solve providing a “soft” stop on inflation.
While this is just a cursory overview of Bitcoin it should allow you to understand the basics of the coin market. If you want to learn more about Bitcoin or Blockchaining you can read the articles below.
Bitcoin
https://www.forbes.com/sites/bernardmarr/2018/01/17/a-complete-beginners-guide-to-bitcoin-in-2018/2/#b4dc7b96bfe0
Blockchain
https://www.forbes.com/sites/bernardmarr/2017/01/24/a-complete-beginners-guide-to-blockchain/#5bf8fc446e60
Bitcoin, in the simplest terms, is a digital currency and the first established “cryptocurrency.” Using a revolutionary technique called “blockchaining,” Bitcoin became a secure way to keep digital currency from being reproduced.
Blockchaining allows users to securely and anonymously trade coins without having to worry that the coins they are receiving are digitally copied from real coins. Bitcoin owners actually own the private keys used to access Bitcoins.
You can receive Bitcoin one of two ways; trading goods or services for coins or “mining” them.
Mining is just a term used to describe the process of creating new Bitcoins for the market. Extremely powerful computers solve complex math equations and when they are solved a new block for a blockchain is made. As more coins enter the market the equations become harder and harder to solve providing a “soft” stop on inflation.
While this is just a cursory overview of Bitcoin it should allow you to understand the basics of the coin market. If you want to learn more about Bitcoin or Blockchaining you can read the articles below.
Bitcoin
https://www.forbes.com/sites/bernardmarr/2018/01/17/a-complete-beginners-guide-to-bitcoin-in-2018/2/#b4dc7b96bfe0
Blockchain
https://www.forbes.com/sites/bernardmarr/2017/01/24/a-complete-beginners-guide-to-blockchain/#5bf8fc446e60
