Everything you need to know about bitcoin
Bitcoin: Everything You Need to Know About the Digital Currency Revolution by Jose PaglieryThe digital currency founded by Satoshi Nakamoto in 2009 challenges everything we’ve come to accept about money, financial institutions, and even government. The currency is anonymous and can be traded internationally—without the fees, government regulation, and oversight by banks and government-backed securities. But Bitcoin is not without risk—the currency’s value has fluctuated wildly since inception, and $400 billion suddenly disappeared overnight with the fall of Mt. Gox. Bitcoin: Everything You Need to Know About the Digital Currency Revolution provides a detailed look at the impact and future implications of digital currency. CNNMoney.com’s Jose Pagliery details digital currency’s origins, how the system works, and how Bitcoin is used today. The book also examines the economic impact of a digital, global currency, including perspectives from free market proponents such as Ron Paul to federal regulators who defend the need for central banks. Pagliery also explores the dark side of Bitcoin, including interviews with the FBI and a Bitcoin entrepreneur currently in federal prison. Bitcoin is essential reading for anyone looking to understand a financial innovation that will forever change how we think about money.
Some things you need to know
If you're getting started with Bitcoin, there are a few things you should know. Bitcoin lets you exchange money and transact in a different way than you normally do. As such, you should take time to inform yourself before using Bitcoin for any serious transaction. Bitcoin should be treated with the same care as your regular wallet, or even more in some cases! Like in real life, your wallet must be secured.
Get a simple introduction to Bitcoin and why it matters. | Individuals, businesses, developers: learn from our simple Bitcoin guides. How Bitcoin works, what is.
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You heard about this bitcoin thing? Every bitcoin story must include an image of a physical bitcoin. - Bitcoin is a digital asset that only exists online. Bitcoin is meant to be spendable like cash, but also able to hold a lot of value similar to gold.
Think of it like email. Bitcoin transactions are irreversible. This means that no one, including banks, or governments can block you from sending or receiving bitcoins with anyone else, anywhere in the world. With this freedom comes the great responsibility of not having any central authority to complain to if something goes wrong. There are several different types of Bitcoin wallets, but the most important distinction is in relation to who is in control of the private keys required to spend the bitcoins.
Be it Brexit , or Donald Trump as the new US president, or India demonetizing their currency, dramatic economic events can be viewed in terms of Bitcoin. There are many ways by which you can understand what Bitcoin is. Let me explain it to you with the help of an example. This is not like the physical delivery of goods; money is not moved physically. Even though everything is done digitally, why are you losing so much money?