“It has become appallingly obvious that our technology has exceeded our humanity”
As noticed by M. Einstein, we are going to discover the next big step for humanity, nothing compared to relativity, but, pretty interesting and revolutionary. So what a bitcoin really is? And what can we do with? Why people are speculating on it?
noun: bitcoin; plural noun: bitcoins
A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
“bitcoins can be used for online transactions between individuals”
Then, What is a Bitcoin?
It is just money. You buy a bitcoin, and you can use it to purchase something else.
For sure it’s more complex, but you get the big picture with that.
Let’s have a look back to this very technical definition. To be honest, it is the main issue with this new technology, everything is very technical, nerdy & seems to be inaccessible. No worries, we are here!
It’s a digital (electronic) currency (money), similar to the physical one you know.
It allows instantaneous transactions and borderless transfer-of-ownership.
It’s the process of converting information or data into a code, especially to prevent unauthorized access.
Regulate the generation of units
Let’s keep it for a moment, basically Bitcoins are limited in number, the “blockchain” technology is regulating the all thing.
Verify the transfer
When a digital transfer is made, other users are validating, registering and sharing the action, in several places, several times in order to keep traceability. The most interesting and important points of this new money are Trust & Transparency.
Technically, all of the users have a proof of all the transactions, since the beginning, from everybody. (For sure it’s a bit more complex, but it’s the principle.)
There is no authority, government or any regulating organisation behind the Bitcoins. It has been launched, in an automated manner the 3rd of January 2009 by M. Nakamoto. The system is self-regulated and a big community is working to improve this open source technology.
Let’s checked this little video out to have a visual understanding
What can we do with a bitcoin?
There are several options, enriched everyday regarding the interest that Bitcoin is providing. But let sum-up your different options:
- Invest for the future you
Think about, put a bit of money, wait a couple of years, and open the box later?
- Buy variety of goods and services
Various platforms are using bitcoins for different reasons; flexibility, potential & freedom.
- Invest into other cryptocurrencies & startups
Bitcoins, and mainly blockchain technology are transforming the way the future economy will work. It’s now possible to invest in the early stage of startups, fitting your values and philosophy.
- Trade & speculate
Many people are currently speculating on these currencies, this new technology also allows to speculate on alternative coins which could become the new bitcoins. (But it’s another topic that we will detail later.)
Why should you pay more interest?
In our opinion, because it’s already too late!
Ok it’s rude, but it’s reality. The price of a bitcoin is exponentially growing, number is limited, you should start putting a bit on it. It is the new revolution after the internet, it’s exciting. It could be dangerous, but we are on track and we are here to help you making this step :).
See you there