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