What is bitcoin mining dummies

I’ll show you how to understand cryptocurrency and blockchain. Learn more at Decryptionary. A Guide For Beginners What is bitcoin?

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This article is for those who what yet to understand the cryptocurrency world. Love Bitcoin — Stick-Figure by Decryptionary. They were beautiful, unique, and could not be manufactured. Later almost 2, years agoin and around Egypt, wheat was used as a currency. Wheat, being a common and important part of our diet, was valuable, portable and exchangeable. Today, governments authorize their bills as legit, and because we have faith in our governments and banks, we use their money.

Ultimately, the worthless bills are just an idea backed by confidence. Then you have cryptocurrencies.

What you will learn in this video

Cryptocurrency is defined as electronic money made with technology to: Control how it was made Protect transactions Hide the identities of its users. The technology around cryptocurrencies effectively give them the same traits as regular, cold hard cash. They solve mathematical equations. More on that later… Enter…Bitcoin Bitcoin was the bitcoin widely adopted cryptocurrency, and was created in by Satoshi Nakamoto. No one knows who Satoshi is, the developer could be a guy, gal, or a group of people.

Satoshi disappeared before bitcoin took off.