Bitcoin for Beginners: What is $BTC and Why Do You Care?
I would imagine if you're new to crypto, you've at least heard of $BTC (Bitcoin) but what even is that?
Bitcoin is a blockchain-based decentralized digital currency. As opposed to fiat currencies, it is not regulated by one bank or government.
Why do folks give a shit about Bitcoin?
🔹 Limited supply: There are only ever going to be 21 million coins.
🔹 Decentralized — Also, this a public blockchain to write sophisticated code.
🔹Global: Bitcoin is sovereign and can go global without banks
🔹 Market-leader: Remains to be one a most significant asset in the Cryptocurrency market.
But as back in May, Bitcoin is extremely volatile too. So if you're new to crypto you might want to learn about risk and put a little money at stake here as its price can swing greatly in both directions
Beginner tip: Just because a coin is trending, do not put your money in it. Before anything you need to learn what you are buying, how the market is followed and the risk tolerance level suitable for you.
Bitcoin consensus mechanism is validated by present.
What do you say? 📈
TL;DR: In October 2023, the Bitcoin network became overloaded with buy orders over a two-week period.
I would imagine if you're new to crypto, you've at least heard of $BTC (Bitcoin) but what even is that?
Bitcoin is a blockchain-based decentralized digital currency. As opposed to fiat currencies, it is not regulated by one bank or government.
Why do folks give a shit about Bitcoin?
🔹 Limited supply: There are only ever going to be 21 million coins.
🔹 Decentralized — Also, this a public blockchain to write sophisticated code.
🔹Global: Bitcoin is sovereign and can go global without banks
🔹 Market-leader: Remains to be one a most significant asset in the Cryptocurrency market.
But as back in May, Bitcoin is extremely volatile too. So if you're new to crypto you might want to learn about risk and put a little money at stake here as its price can swing greatly in both directions
Beginner tip: Just because a coin is trending, do not put your money in it. Before anything you need to learn what you are buying, how the market is followed and the risk tolerance level suitable for you.
Bitcoin consensus mechanism is validated by present.
What do you say? 📈
TL;DR: In October 2023, the Bitcoin network became overloaded with buy orders over a two-week period.