What is that "Bitcoin" you keep hearing about?
You probably keep hearing your friends talk about Bitcoin, but maybe you still aren’t quite sure what it is and don’t want to ask your friend to explain it AGAIN. So let’s try to break it down. Bitcoin is known as a cryptocurrency. These currencies are a virtual form of money that can only be exchanged over the internet. Although the word “coin” is in the name, and the logo is an actual coin itself, there are no physical elements to cryptocurrency, it is all digital. Bitcoin was the first of its kind. It was launched in 2009 by a pseudonymous user who goes under the name Satoshi Nakamoto. It was built on the principles of computer science, cryptography, and a trustless system that would eliminate the need for a central bank. Satoshi Nakamoto developed Bitcoin to be a secure open-source software that users could exchange money through with anonymity. Instead of a bank to back it up, users control the ledger through a peer-to-peer netwo...