Bitcoin is digital money used for secure and instant transfer of value anywhere in the world. It is not controlled or issued by any bank or government - instead it is an open network which is managed by its users. Much in the way email improved communication by making it fast and cheap, bitcoin is an improvement on existing payment methods which were not designed for the internet era.
Before a Bitcoin can be purchased, a user must install a virtual "wallet" onto a personal computer or mobile device. The wallet, which is similar to personal finance software, keeps track of your Bitcoin balance and all transactions.
The most secure wallets are 'hardware wallets' such as Trezor or Ledger
To buy a Bitcoin, real money must either be deposited through an online payment company or transferred directly from a bank account into an account on a third-party website that connects bitcoin buyers and sellers. You can do this on exchange sites like CoinMama.com or CEX.io
Once the funds are available, the user can purchase goods and pay for services online or at vendors in your city. You can find physical retailers accepting bitcoins on coinmap.org
Online, off-line, for savings or travel, bitcoin is the future of currency. Embrace bitcoin now and be part of the big next thing after the invention of the internet itself.
We live in a digital world. You can video chat with a friend in China while you’re in Europe in a matter of seconds. But, how would you send that same person $1,000 in the same amount of time? You couldn’t. With Bitcoin, it’s possible to send money from anywhere in the world, to anywhere in the world, all in a matter of seconds with no fees, commission, no middle man taking a cut of your hard earned money.
At its simplest, a blockchain is a public ledger of all Bitcoin transactions that have ever been executed.
Look at the next video that explains it with all the visual beauty.
“I think the internet is going to be one of the major forces for reducing the role of government.
The one thing that’s missing but that will soon be developed, is a reliable e-cash.”
“I think the fact that within the bitcoin universe an algorithm replaces the functions of [the government] …
is actually pretty cool. I am a big fan of Bitcoin”
“Bitcoin is a technological tour de force.”
“Virgin Galactic is a bold entrepreneurial technology.
It’s driving a revolution and Bitcoin is doing just the same when it comes to inventing a new currency.”
“I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world.”
“Bitcoin is a remarkable cryptographic achievement and the ability to create something that is
not duplicable in the digital world has enormous value”
“Bitcoin may be the TCP/IP of money.”
“Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”
Bitcoin, the original by Satoshi Nakamoto.
Please visit The Bitcoin Foundation
Ethereum has been made possible thanks to many, many people and supporters.
Read about the history of ethereum in this blog post by Taylor Gerring. Help write this story at the history guide.
With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin. Please visit the Litecoin Project website to learn more.
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