What Bitcoin unit look like in real life - page 3.

Z-tight

hero member

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BTC is a virtual currency, it is not physical and it has no look in real life. BTC is a virtual currency that can be sent and received online through computers or mobile devices. BTC is a decentralized currency created by Satoshi to be a second option to fiat currency, though it works differently from fiat as it can't be printed, but 'mined', mining doesn't mean miners excavate physical BTC, miners validate BTC transactions and put them in new blocks, this process is called mining because in that process the successful miner is rewarded with new BTC's, that is how new coins are made.

Quote from: Cyber_Alien on December 12, 2022, 03:42:22 AM

Is there a list of figures I can print out and use as my reference? Alternatively, should I point to an entry on a public ledger and say, "There! That shows my bitcoin history!"

One point of using BTC is for privacy and pseudonymity, it does not make any sense to use it while looking for a way to expose your BTC balance and history to the public, or to connect it to your real life person. The links below are great to get you started:

https://learnmeabitcoin.com/
https://bitcoin.org/en/how-it-works
https://www.lopp.net/bitcoin-information/getting-started.html
https://en.bitcoin.it/wiki/Main_Page

NeuroticFish

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Looking for campaign manager? Contact icopress!

Quote from: Cyber_Alien on December 12, 2022, 03:42:22 AM

Basically, I'm curious to know what a bitcoin or any cryptocurrency unit looks like in real life.

I guess that you've managed to miss the part telling that Bitcoin is a virtual currency. It has no tangible form.

It's somehow similar to your money as long as you use it only in bank transfers and credit card, no ATM, not paper bills.
Or it's somehow similar with a thought or idea. Or, somehow similar to the music at the radio.

You can use software to find out how much you own, but it has no physical shape.

Cyber_Alien

member

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Since I'm new to this development, I'd seen information about the new digital currency (Bitcoin) online as I tried to learn more about it. There are countless articles on blockchain technology and the idea of mining on Google. Google searches return a ton of articles discussing the blockchain system and the idea of mining. However, I've discovered that none truly respond to the query "What is Bitcoin?"
I can produce a one-pound bill for a friend to grasp and inspect if they were to ask me, "What is a pound?" When he inquires about what a bitcoin is, what can I provide for them to review? Is there a list of figures I can print out and use as my reference? Alternatively, should I point to an entry on a public ledger and say, "There! That shows my bitcoin history!"

Basically, I'm curious to know what a bitcoin or any cryptocurrency unit looks like in real life.

Topic: What Bitcoin unit look like in real life - page 3. (Read 376 times)