Bitcoin, what is it? All you want to know
Bitcoin isÂ a form of digital currency.
No one controls it, it is a decentralized currency, which means that no big bank or institution can get a hold of your money.Â
It is the very first form of a growing category of money called cryptocurrency, created in 2009.
The inventor of Bitcoin is anonymous, but he goes as Satoshi Nakamoto, which is not his real name.
Bitcoins are stored in a personal online wallet that cannot be frozen by anyone.
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big bank or institution can get a hold of your money.
Bitcoin : 1 BTC = 1622 $CAD
Litecoin : 1 LTC = 5.16 $CAD
Ethereum : 1 ETH = 32.05 $CAD
Bitcoin mining is quite hard to understand and very complicated to explain.
Unstable value (bitcoin currency can increase or decrease drastically)
Volatile market (unpredictable)
Not widely accepted (for now...)
Payments are irreversible (no money back guarantee!)
Thank you for listening