There are two simple ways to explain Bitcoin. The first thing you must realize is that Satoshi Nakamoto created the crypto currency to replace our traditional currency. So the bottom line is Bitcoin is digital money. It is described by many as a digital asset because there are no physical forms or Bitcoin.
The second thing you need to realize is Bitcoin is extremely valuable. Most experts compare it to gold but the reality is Bitcoin is more rare than gold. The scarce availability and future demand will eventually drive the price to unpredictable heights. The best way to describe the future of Bitcoin is to compare it to the California Gold Rush. Look at the history of Gold's price and Imagine if your ancestors would have stashed some away for you.
Bitcoin will soon be used to purchase goods at major institutions around the globe and in the next few blog posts you can learn about how to buy Bitcoin and how to use the world favorite crypto. In the mean time enjoy this youtube clip of Elon on Saturday night live
Awesome post. Thank you for explaining!
ReplyDeletethis is a great episode of SNL
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