You may have heard about Bitcoin in the news, a “crypto currency,” or digital money that at one point was worth more than gold. Can it get back there? Perhaps to better understand the answer we must better understand the Bitcoin.
Hopefully this will clarify things for you.
Bankers got greedy, consumers got greedy, a new kind of money was invented out of necessity.
Digital currency was invented before, but Bitcoin was “safer” because you can’t copy and paste the money.
A bunch of unrelated computers are standing guard.
A digital ninja with a fake name wrote the program, stacked his chips, then disappeared into the night.
Bitcoins are “mined” and the rewards become smaller and smaller over time.
In 2010, people started trading Bitcoin for dollars.
A broke lazy guy in Florida bought pizza from a guy in England and changed the world somehow.
You could copy and paste money for a while, but that stopped.
The first million is always the sweetest.
Shit gets real when Forbes says you’re real.
Everything was terrible for a while.
In 2012, Bitcoin put on its big boy pants and got its act together.
European Banks realized they might have some real competition.
Bitcoin owners rejoiced.
That whole copy and paste money thing happened again and then it stopped again.
A government took its people’s cash, Bitcoin price went up. FBI takes a bunch of Bitcoin, price went down.
Crazy future things started happening. Instead of buying pizzas, that guy in Florida could have gone to outer space a few times.
China said it didn’t want to play with Bitcoin, but people decided they didn’t really care.
Now people ask for Bitcoin on the internet using QR codes.
