Bitcoin is online money, like ApplePay or Venmo. The difference is that in those systems, many companies see your transaction, take a fee, and in some cases might block your transaction. With Bitcoin you can pay someone directly, person to person. This is called “decentralized” and basically means no more

Bitcoin evokes many changes in the nature of money, how transactions can be conducted, and social changes. One of the first examples of digital money disrupting established players in cross-border payments (often called "remittances"). Where Western Union charged significant fees, Bitcoin (or often Lightning Network) offer fast and

Bitcoin has a well-defined process for implementing feature changes, but this does not mean it is not without controversy, differing opinions, or challenges. The very fact that it is hard to change is a strength of the protocol. The essence of Bitcoin is the "consensus mechanism" and this

In terms of the privacy on-chain, all wallets are equally private. Where privacy concerns get introduced are where the Bitcoin was obtained and did it require identity verification (aka, Know Your Customer or KYC). Also, your computing environment can leak identifying information when transactions are made, such as your IP

No. There is only one Bitcoin, the blockchain based token that has been collectively agreed upon to be money, i.e., a store of value. Other "crypto currencies" do not have open distribution (in other words they gave insiders early access) and often are marketing pump and dumps

The chance of someone guessing or brute force attacking your seed phrase or private keys is infinitesimally small as to be zero. There is no known example of it happening. I could give you a lot of math, but just go with the answer.

The Eurodollar is a US dollar created outside of the US-controlled banking system. For example, a bank in Europe creating a loan denominated in US dollars. Eurodollars are US Dollars and have nothing to do with Euros.   These dollars are not reflected in the FED data. The significance to Bitcoin

Yes and no. The bitcoin protocol uses public-key encryption techniques to generate private and public key pairs. The public key is what you give out as your receiving address. The matching private key you keep secure, this one allows you to move or spend bitcoin. The bitcoin blockchain is not

A unit of account is a common monetary unit used by groups of people that transact. Each country typically has a national currency or has adopted another fiat currency like the US dollar. Each country population has a social understanding of what a dollar or peso or other unit means

(sorry for the language, but there's no way around it) "Shitcoin" is a slang term coming from "Alt Coins" which means "alternative from Bitcoin" since Bitcoin is the original and most accepted. As the US dollar price of Bitcoin rose, people saw

More miners is a good thing to spread the responsibility of securing the Bitcoin blockchain across more entities. If there are more competitors then each miner gets less rewards over the near term time. However, the difficulty adjustment system periodically adjusts for this to normalize things for the mid-term time.

"The Cantillon Effect" refers to the idea that changes in the money supply in an economy cause the redistribution of purchasing power among people, disturb the relative prices of goods and services, and lead to the misallocation of scarce resources. The effect is named after Richard Cantillon, an

Bitcoin is a Hedge against Inflation There are several reasons why Bitcoin is a hedge against inflation in the US Dollar: 1. Finite supply: Bitcoin has a capped supply of 21 million coins, which prevents the currency from being inflated arbitrarily. In contrast, the US Dollar is subject to inflation

Bitcoin's decentralization and fixed supply provide an alternative to traditional fiat currencies, which are subject to inflation and centralized control. By offering a store of value that is not subject to inflation, Bitcoin encourages people to develop a longer-term perspective on their finances and invest for the future.

Introduction The Lightning Network is a payment protocol that allows for fast, low-cost, and secure transactions on top of the Bitcoin blockchain. For a local merchant, using the Lightning Network could offer several benefits, including: * Reduced transaction fees: Lightning Network transactions have significantly lower fees compared to traditional Bitcoin transactions,

Bitcoin is not just another currency or asset. It is a revolutionary technology that challenges many of the assumptions and paradigms that we have about money, finance, and society. To understand Bitcoin, you have to open your mind and be willing to learn new things, question old things, and embrace

Bitcoin is easy to make payments, especially on the Lightning Network (LN). Most often you will scan a QR from the recipient, or they can send you an address via secure chat (What’s App, Signal, Telegram). Payment apps are all getting on board to allow this — Cash App is

Introduction As a small or medium sized business owner or executive, you may have heard about Bitcoin from your peers, employees, or customers. This guide assumes you have a basic understanding of Bitcoin, this is not an explainer of Bitcoin. (Here are some other resources for Bitcoin introduction) Bitcoin is

Expression. Life.