What is Bitcoin? Bitcoin is a new type of currency know as Cryptocurrency. Bitcoin was first introduced to the world around 2009. It is not a coin that you carry in your pocket but rather it is a digital currency that is stored in computers much like digital money you have in the bank. However, it is decentralized and has no middleman such as a bank.
Bitcoin and others like it known as alt-coins represent freedom. Freedom from greedy and cash strapped banks and their partners in government who print money out of thin air at ever increasing volumes sending inflation into the stratosphere. The cost of living keeps spiraling up at unmanageable levels for many working people who run out of money long before the end of the month. Cryptos also give freedom to some 2 billion unbanked people in the world and freedom to citizens of countries like Venezuela, Zimbabwe, Greece, Cypress etc., and soon to a country close to you, whose currency has become so inflated and worthless that citizens are throwing it in the streets and turning to Bitcoin.
Bitcoin is where the internet was around 1998. Young, not fully developed, clunky and still a mystery for many people. But it has come a long way. Download a wallet to your phone or computer from a reputable supplier like Bitcoin Org and you are well on your way. Bitcoin is an investment. In 2013 it’s value was about $10 and today (July 16, 2019) it is trading for USD 10,448 or CND 13,601. It had a high of close to USD 20,000 in December 2017 and is predicted to spiral when fiat currencies like the US dollar come crashing down through continued printing and discontinued use by the BRICS countries Brasil, Russia, India, China, South African and most others. You can check it’s current value here: Coin Market Cap
Unlike fiat currency (ex: US Dollars) Bitcoin is limited in supply to a total of 21 Million. It is divisible into Satoshi’s by 0.00000001 BTC . As a result Bitcoin can never become inflated and will be more scarce than Gold. Bitcoin is not created out of thin air. It is created mathematically using computers, energy and other resources known as mining.