What is Bitcoin?
Bitcoin represents the first technology to be able to transfer ownership without a third party over a communication channel like the Internet. This technology has the potential to disrupt the current financial system.
Over the Bitcoin network payments are instant and near cost less to anywhere in the world. It is a bit like going from mail to email. Just like the Internet, Bitcoin is distributed
'Don't Be Evil' is the motto of Google, in this new
What is the intrinsic value of Bitcoin?
Cars have value because they have utility and are scarce, it is the same with all things. Bitcoin has utility as a payment network that can disrupt billion dollar industry. It is scarce since there will never be more than 21 million bitcoins created.
Unlike Gold, Bitcoin can be divided into 100 millionth of a unit.
Unlike Gold, Bitcoin can be sent across the globe in an instant for virtually no cost.
Unlike traditional currencies, the government, nor anyone else, can't print more of it at will.
Is it secure?
Bitcoin gives power to the people, it also means that it gives people responsibility to keep
It is important to recognize that the theft you have heard of is not a security breach of the system itself. The good news is that you don't have to trust anyone.
The bitcoins everyone owns are stored across thousands of computers in the peer to peer network. They are 'unlocked' by your Private Key. You can let someone else hold your Private Key, like an online wallet or exchange, or store it on your computer or print it out and store it in a safe place. If you let someone else hold your Private Key, you need to trust that they don't lose it, or in worst case steal it.
What is Bitcoin mining?
Mining is the process that
How do I get Bitcoin?
You can be paid by Bitcoin for example by freelance work, mine Bitcoin or you can buy Bitcoin from an exchange, an ATM or an individual who
You can read more about Bitcoin on this site and there are links to more resources around the web under Need Help?
I have more questions?
Specific questions relating to buying and selling can be found here.
If you have any questions not addressed, please send us an email we will do our best to answer them.