What is Bitcoin?
Watch my video and find out!
Could you replicate your own version of this video for $100 in Btc (Bitcoin)?
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Enter your e-mail below, Read and simply follow the instructions below:
1. Create your video answering the 10 questions on bitcoin below
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and I’ll send you the second part of the instructions.
Here are 10 simple question to what bitcoin is and how it works!
WHAT IS BITCOIN?
Bitcoin is a Decentralized Digital currency that allows a digital peer to peer transaction, face to face or country to country in an instance.
WHAT IS BLOCK CHAIN?
Block Chain is the Digital ledger where past and current transactions that take place are in chronological order for public record.
WHAT IS DECENTRALIZED?
Decentralized means that there is no central storing place and No Middleman or Financial institutions stand in the way of a transaction. Bitcoin is 100% peer to peer.
WHAT IS BITCOIN SCARCITY?
There will only be 21 MILLION Bitcoin created. Currently there are 16.64 MILLION in circulation. It’s basic supply and demand. As the demand increased the value of one bitcoin will rise.
HOW ARE NEW BITCOINS CREATED?
Well anyone with an internet connection and the right software can actually mine bitcoin. Mining is the process of solving complex mathematical algorithms and when those equations are solved miners are rewarded a certain amount of bitcoin.
WHAT IS BLOCK HALVING?
Block Halving is an event that takes place about every 4 years that rewards miners 50% less bitcoin for solving the same number of algorithms. (For example, I’m a miner and I usually get 4BTC for every success block or equation solved, When a BTC halving takes place, I would begin to earn 2 BTC for reward.)
WHAT IS A CONFIRMATION?
When miners from around the world validate a transaction a confirmation code is created.
WHAT IS A TRANSACTION ID?
When a transaction takes place, There is a unique code attached to it. That unique code allows us to find that specific transaction in the blockchain.
WHAT IS BLOCK EXPLORER?
Is a public web page that we use to explore the blockchain. I can search for past transactions using a transaction ID.
WHAT ARE 3 SPECIFIC WAYS TO BUY BITCOIN?
Peer to Peer, Coinbase (1 of many exchanges) and a Bitcoin ATM.
Would you like $10 in Bitcoin?
Open a wallet with CoinBase HERE
Also here is a great free wallet you can install on IOS or Android