From what I have already learned, Bitcoin is a cryptocurrency based on Block chain technology. In my opinion, this technology and the conveniences this currency has, make it appealing as an investment. Trying to figure it all out as fast as possible is not always so easy, however I am involved now, so my own goal is to see how Bitcoin Works as simple as possible. There are a couple of ways of doing that, so let’s do exactly that here and now.
How Bitcoin actually works seems to be in question the most. That word actually is the key here right. Everybody wants to understand this down to the core. It is after all, a new way of doing business and trading. No matter how outside of normal it may be for some poeple to think, Bitcoin and cryptocurrencies are money, as we understand it today in our everyday lives. Let’s look at Bitcoin in under 10 minutes.
!5 minutes or less could make you a Bitcoin Billionaire. Forgive me. Here’s the video.
So there is the quick scoop right. It still seems simple and to the point to me. We can’t just go by one video on the internet though right?! Even when you are just googling something, we want a little more indepth information about all of this. For the sake of our Bitcoin education and understanding of how it works, let’s watch the Under the Hood Video too.
Alright, more and more proof is what I heard, that Bitcoin is all about a safe secure way for us to use money as we know it for trading and basically living. The debate still comes in because, as the video mentions, without government regulations, there is nobody to call for help when things go the wrong way. In fact as I watched this, I have to admit, the reminder that all of this is happening with complete strangers, is pretty amazing.
The idea behind all of this I guess comes down to what I do keep saying. Transparency. No matter how many times we discuss the whole theory, it would seem the same reasons this whole thing was started, will continue to be the same reasons people continue to find doubts in it. This is what it is all about to begin with.
I suppose the biggest reason that the government not being involved is what still appeals to me. I look at Bitcoin almost like a poker game. I have joked about spending more money on other more frivolous things so why not a quick drop of a few hundred bucks. I know that when it comes to attaching the word investment to anything, the average joe shrugs off the idea. And again a few hundred bucks can buy a lot more fun things in the moment then any investment that could just be shrugging the idea off.
These videos are about Bitcoin and it’s inner workings. How Bitcoin Mining and having a Bitcoin wallet fall into place are the next thing for the average joe like myself to learn along the way. How we can all get on board the Bitcoin train. I have already signed up for a wallet, you can do so here for a Bitcoinwallet. As mentioned a few times, my links are posted here as well if you want to get involved with my Bitcoin investment.
With anything I have mentioned here, or anywhere else on the site you are reading. If you are interested and you have read this far, I hope you follow the links!
Better yet, throw down a comment in the box cause I would love to here your input.