Bitcoin (and cryptocurrency in general) is meant to be the next big thing since the invention of the Internet. It has been around since 2009, and it’s getting bigger and bigger!
So what is Bitcoin (and cryptocurrency), and why will it be worth millions in years to come? Let these videos and Wikipedia tell you:
“Bitcoin is a worldwide cryptocurrency and digital payment system, called the first decentralized digital currency, as the system works without a central repository or single administrator. It was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public, distributed ledger called a blockchain.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.” – Wikipedia
If you have a couple more minutes, this is the trailer of the documentary entitled Banking On Bitcoin, which goes into Bitcoin in greater depth: