What are cryptocurrencies?
Here is Wikipedia’s definition:
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.
Bitcoin became the first decentralized cryptocurrency in 2009. Since then, numerous cryptocurrencies have been created. These are frequently called altcoins, as a blend of bitcoin alternative. Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money/centralized banking systems. The decentralized control is related to the use of bitcoin’s blockchain transaction database in the role of a distributed ledger.
These pages on my website deal primarily with Bitcoin (BTC) programs, and coins like BCCA (Belize Crypto Currency Alliance) and ARMR.
What is Bitcoin?
Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
It’s the first example of a growing category of money known as cryptocurrency.
What makes it different from normal currencies? Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.
However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is decentralized. No single institution controls the bitcoin network. This puts some people at ease, because it means that a large bank can’t control their money.
Who created it?A software developer called Satoshi Nakamoto proposed bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees.Have you tried making money with Bitcoin?
The satoshi is currently the smallest unit of the bitcoin currency recorded on the block chain. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). The unit has been named in collective homage to the original creator of Bitcoin, Satoshi Nakamoto.
Watch this video to learn what Bitcoin is: Bitcoin Training 2017 by Max Garza III
You can find MANY more videos about Bitcoin on YouTube, but my advice is to watch the newer videos and to avoid the older videos because many of the programs and sites recommended in the older videos are no longer around.
Videos Recommended to Learn About Bitcoin
- What is Bitcoin? https://youtu.be/Um63OQz3bjo
- How Does Bitcoin Work? https://youtu.be/LuA3xb-L8r8
- A Short Introduction to Blockchain: https://youtu.be/WiRFuHXHBhk
When you come across some good videos, let me know and I will add them to this page.
BEFORE you join ANY programs to earn Bitcoins, you HAVE TO HAVE a wallet address for (1) sending your Bitcoins to pay for things and (2) to receive your earnings.
As soon as you join a program, they are going to ask you to enter the wallet address where you want your earning sent to, so BE READY, have your wallet account already set up.
CLICK HERE to see some faucet programs you can use to earn some Satoshi to help you fund your Bitcoin adventure.