Quick & Simple Explanation Of Bitcoin
Bitcoin was invented as a peer-to-peer system for online payments that does not require a trusted central authority. Since its inception in 2008, Bitcoin has grown into a technology, a currency, an investment vehicle, and a community of users.
What is Bitcoin?
Since anything digital can be copied over and over again, the hard part about implementing a digital payment system is making sure that nobody spends the same money more than once. Traditionally, this is done by having a trusted central authority (like PayPal) that verifies all of the transactions. The core innovation that makes Bitcoin special is that it uses consensus in a massive peer-to-peer network to verify transactions. This results in a system where payments are non-reversible, accounts cannot be frozen, and transaction fees are much lower.
How to get started with Bitcoin
The best way to learn about Bitcoin is to get some and experiment. First you must understand the Bitcoin is volatile then you must do your due diligence in research. If you are interested in more information on getting started email Nicole@AmountFinancial.com and place BITCOIN in the subject line. #Bitcoin #AmountFinancial #Cryptocurency
By: Dr. Nicole Garner Scott