In the digital age, just about everything has gone digital, and that includes currency. If you’ve dismissed the concept of a digital currency as the stuff of a few radical tech geeks, it’s high time you became familiar with a currency that is leaving the dollar, yen, and euro in its exponentially increasing digital dust. The value of the bitcoin—the only currency that operates at an enormous international scale free of the shackles of corporate banks and national governments—has skyrocketed in the past several years. It’s all digital, but very real.
The concept of the bitcoin is a bit complex, so we’ve broken it down in a way you can understand without having a degree in economics or javascript in your DNA. You’ll get the basics of what a bitcoin is, how it increases in value, how business transactions work, and how in the world the value has exploded while other world currencies struggle mightily.
And bitcoin isn’t just a new way to buy stuff online—it’s an investment with the potential of turning your hard-earned dollars into rapidly multiplying cash of a different name. If you don’t know the name bitcoin yet, you’ll be sorry in a few years when it’s become mainstream. Ever kicked yourself for not investing in Apple or Microsoft back at the dawn of the computing age?
Don’t let the same thing happen again by missing the bitcoin boat. Yeah, it has that kind of possibilities.
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Image source: www.online-accounting-degrees.net
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Facts and Stats to Tweet
Over 74,000 #bitcoins are exchanged every hour (Over $2.3 million) <Tweet This>
An estimated 95% of #bitcoin users are male <Tweet This>
There are 54 active markets where #BTC are traded <Tweet This>
A #bitcoin is divisible by up to 100 million smaller units (satoshis) <Tweet This>
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interesting
Nice graphic. Bear in mind that the USD, GBP etc, are not backed by gold or silver any more. They are “fiat”.