Bitcoin: Everything You Need to Know About the Digital Currency Revolution by Jose PaglieryThe digital currency founded by Satoshi Nakamoto in 2009 challenges everything we’ve come to accept about money, financial institutions, and even government. The currency is anonymous and can be traded internationally—without the fees, government regulation, and oversight by banks and government-backed securities. But Bitcoin is not without risk—the currency’s value has fluctuated wildly since inception, and $400 billion suddenly disappeared overnight with the fall of Mt. Gox. Bitcoin: Everything You Need to Know About the Digital Currency Revolution provides a detailed look at the impact and future implications of digital currency. CNNMoney.com’s Jose Pagliery details digital currency’s origins, how the system works, and how Bitcoin is used today. The book also examines the economic impact of a digital, global currency, including perspectives from free market proponents such as Ron Paul to federal regulators who defend the need for central banks. Pagliery also explores the dark side of Bitcoin, including interviews with the FBI and a Bitcoin entrepreneur currently in federal prison. Bitcoin is essential reading for anyone looking to understand a financial innovation that will forever change how we think about money.
What is Bitcoin? A Beginner’s Guide.
Be it Brexit , or Donald Trump as the new US president, or India demonetizing their currency, dramatic economic events can be viewed in terms of Bitcoin. There are many ways by which you can understand what Bitcoin is. Let me explain it to you with the help of an example. This is not like the physical delivery of goods; money is not moved physically. Even though everything is done digitally, why are you losing so much money? This makes it independent of any corporate monopoly because everything about Bitcoin is governed by the huge community of users like me, you, and all of the others who are using it.
Bitcoin is a digital asset that only exists online. Bitcoin is meant to be spendable like cash, but also able to hold a lot of value similar to gold. However, unlike cash or gold, Bitcoin is entirely digital. The Bitcoin digital asset is very simple. Bitcoin is just a digital coin, often abbreviated to BTC. These coins are gradually created over time, up to a maximum of 21 million.