What is Bitcoin? Bitcoin Explained Simply for Dummies

Bitcoin Bitcoin is a decentralized digital currency that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Bitcoin is a decentralized digital currency that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.Learn more is the first decentralized digital currency. All Bitcoin transactions are documented on a virtual ledger called the blockchain A blockchain is a digital ledger of transactions that works from a decentralized network. A blockchain is a digital ledger of transactions that works from a decentralized network.Learn more, which is accessible for everyone to see.

Bitcoin gives you complete control over your money, unlike other assets you own which are regulated by banks and governments. As bitcoin gains more popularity, more and more places accept it as a payment method.

That’s Bitcoin in a nutshell. For the complete simple explanation watch this video, here’s what I’ll cover:

0:50 What is money?
3:10 Fiat money
3:43 Fiat money drawbacks
4:25 Digital money
5:34 Centralized money issues
7:21 Enter Bitcoin
7:44 Bitcoin is transparent
9:13 Bitcoin is decentralized
9:35 Bitcoin is digital
9:56 Why is Bitcoin such big news?
11:45 Who accepts Bitcoin?
12:05 Conclusion

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