Bitcoin is a of yet a decentralized crypto currency that is created via the hashing power of specialized hardware.
The people who use the specialized hardware to create the bitcoins are called "miners" and they "mine" with their equipment.
The difficulty of mining bitcoins increases with each passing day and this leads to bitcoins becoming more scarce and more valuable.
Bitcoins can be used once mined or bought online as frictionless payment without the need of a third party provider such as paypal.
Despite bitcoins being technically cryptographic keys their worth as of now is in the $120 range and increasing by the day.
The value of bitcoins is stored as cryptographic public keys and is as of now within the $120 price range per bitcoin.
That last edit sounds better I think.
tip?
The people who use the specialized hardware to create the bitcoins are called "miners" and they "mine" with their equipment.
The difficulty of mining bitcoins increases with each passing day and this leads to bitcoins becoming more scarce and more valuable.
Bitcoins can be used once mined or bought online as frictionless payment without the need of a third party provider such as paypal.
The value of bitcoins is stored as cryptographic public keys and is as of now within the $120 price range per bitcoin.
That last edit sounds better I think.
tip?
Not bad but I was looking for a more layman intro. For the average no tech people. with more comparison between fiat and BTC.
More like this....
Quote
Fiat currency is money based upon nothing at all.
For the moment, the paper in your pocket will buy you food and furniture, but not because it has any real value. Our daily money is created by politically-favored groups who have been granted monopolies on the creation of currency. (They are referred to in polite company as central bankers.) They create our money, from nothing,
bitcoin is decentralized digital currency that enables instant payments to anyone, anywhere in the world. unlike fiat nobody controls bitcoin, there is a limited amount of bitcoin, banksters can't just print bitcoin, etc etc...
For the moment, the paper in your pocket will buy you food and furniture, but not because it has any real value. Our daily money is created by politically-favored groups who have been granted monopolies on the creation of currency. (They are referred to in polite company as central bankers.) They create our money, from nothing,
bitcoin is decentralized digital currency that enables instant payments to anyone, anywhere in the world. unlike fiat nobody controls bitcoin, there is a limited amount of bitcoin, banksters can't just print bitcoin, etc etc...
) so if that could be touched on?