what is bitcoin


SUBMITTED BY: amacc562

DATE: Aug. 18, 2016, 9:41 a.m.

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  1. Bitcoin is different than any currency you’ve used before, so it's very important to understand some key points. Unlike government issued money, that can be inflated at will, the supply of bitcoin is mathematically limited to twenty one million bitcoins, and that can never be changed. Bitcoins are impossible to be counterfeited or inflated. You can use them to send or receive any amount of money, with anyone, anywhere in the world, at very low cost. Bitcoin payments are impossible to be blocked, and bitcoin wallets can’t be frozen. Short of turning off the entire world's internet, and keeping it turned off, the Bitcoin network is unstoppable and uncensorable.

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