[ibimage==36282==Original==none==self==null]
by Jeff Krantz, Developer at Punchkick Interactive
Jeff bought his first Bitcoin in 2013, and in an attempt to better understand the Bitcoin protocol, has become an active supporter and speculator. He is interested in how Bitcoin could change the way we think about commerce. His article brings to light the discussion surrounding Bitcoin and to provide novice Bitcoin users with clear answers to some common questions about the cryptocurrency.
Bitcoin emerged in 2008 and was initially concepted as a peer-to-peer electronic cash system. Bitcoin can be understood as a value store, meaning that a Bitcoin (or part of a Bitcoin) represents some amount of value. Another way to think of Bitcoin is as a virtual “currency” and payment system. Bitcoin is transferred from one person to another in a transaction, and the value is determined by what someone is willing to pay for it. Read the original post here.
Other common questions answered:
- How is Bitcoin used?
- How do you get Bitcoin?
- Okay, so what’s a Bitcoin Wallet?
- As a merchant, what are the advantages of accepting Bitcoin?
- How can I check the price of Bitcoin?
- What factors influence price fluctuation?
- How viable is bitcoin? Could it ever replace USD?
- Bitcoin’s future
