What is Bitcoin? $50 Worth of Bitcoin For You!
Bitcoin is one of the most important inventions in the history of the world therefore it’s important that we lean as much about it as we can now.
Hi guys Marvin Jones here and I am here to talk a little bitcoin and cryptocurrency. I have been involved in bitcoin and cryptocurrency for over six years now and it has been a very fulfilling experience.
The first question I always get about bitcoin and cryptocurrency is:
Should I buy some bitcoin?
The second question I always get is:
What is bitcoin?
I wanted to put together this video to provide a basic and general definition of what bitcoin is. Bitcoin is one of the most important inventions in the history of the world therefore it’s important that we lean as much about it as we can now.
So what is bitcoin?
Bitcoin is a decentralized digital currency.
Let me repeat that, bitcoin is a decentralized digital currency.
To understand what bitcoin fully is, it’s necessary to understand three distinct topics.
Number 1 - What is a digital currency?
Number 2 - What does it mean to be decentralized?
Number 3 - Why is it important that bitcoin is decentralized?
Number 1 - What is a digital currency?
A digital currency like bitcoin is a currency that only exists in the digital form. This is opposed to the tangible form like US Dollars and coins and Japanese yen. Those are tangible forms of currency. Bitcoin is strictly digital. This enables it to be sent anywhere instantly anytime as a peer to peer transaction that is borderless and can be sent worldwide.
Number 2 - What does it mean to be decentralized? Decentralized means It’s not owned operated or controlled by an entity a government a company an individual a monarchy no one. There is no central authority or control over bitcoin.
Number 3 - Why is it important that bitcoin is decentralized? It is important that bitcoin is decentralized because there is no central authority to shut down. There is no company, there is no individual, there is no entity. If I wanted to create the Marvin Coin and business wanted to accept it and people wanted to use it, let’s say I made it where you could send it anywhere, instantly, anytime. Well companies and governments do not like you competing against government issued fiat currency. I would receive an immediate cease and desist letter. If I continued, the Marvin coin would be forcibly shut down. Well here comes bitcoin, here comes a decentralized digital currency. There is no central authority, there is no company or individual or entity to shut down.
This is revolutionary. Bitcoin is a free market currency. All of our lives we have been taught that only the government can issue currency yet every other invention was done by the free market from our car to our computer to our phone everything. Here comes bitcoin, here comes a decentralized digital currency provided by the free market.
Let’s go back to our definition. Bitcoin is a decentralized digital currency. A digital currency is a currency that only exists in the digital form. This means we can send it anywhere instantly anytime. It’s borderless.
We also know what it means to be decentralized and that is not owned controlled or operated by a government an individual an institution. There is no central authority of control.
Lastly, we know why it is important that bitcoin is decentralized. There is no entity company individual to shut down or stop.
Now when you asked what is bitcoin, you can provide a very accurate definition and answer. Bitcoin is a decentralized digital currency.
Thank you so much for watching my video. Please like and subscribe. And I have a little something special I am going to give away $50 worth of free bitcoin to three of you that follow the directions below. That’s right $50 worth of free bitcoin for your feedback and interaction. $50 worth of bitcoin back in 20012 when I started is worth well over $40,000 US dollars today
Many of us believe that this is just the tip of the iceberg with bitcoin. Again thank you so much and I look forward to you watching my future videos.
Win $50 Worth of Bitcoin! Follow the directions below:
1. Like this video
2. Subscribe to this channel
3. Follow me on Instagram at MarvinJonesEsq
4. Leave a comment below sharing a bitcoin or cryptocurrency experience, some feedback on the video, and or an idea you may have regarding cryptocurrency.
I will select three (3) people to receive $50 worth of free bitcoin. If you are unfamiliar with how to access and receive bitcoin, I will show you how.Filed under: Bitcoin, Cryptocurrency