Hello BTC4Joe, thank you for taking the time to feedback on where I went wrong. It was only the first Answer that I copied and pasted as I thought it would be better to give definition but I understand that it is all about putting it out in an easy to understand format so I have given it a go below. Hopefully better now ;-)

Common Questions & Answers about Bitcoin

Q. What is Bitcoin?
A:Bitcoin is a decentralised digital currency that is used as a form of payment throughout the world as an alternative to other currencies like £, $, Euro etc.. Bitcoin and other cyrptocurrencies are run on a Network called blockchain that is decentralised and immutable making it safer than allot of other FIAT currencies.

Isn't it just made-up money?
A: Bitcoin is in someways less of a made up money than the money the banks have conditioned us into believing is valid currency. Let me explain how, The main two problems with the Historic money systems is bank currencies/notes are manufactured/printed as required meaning banks can devalue your Bank note just by printing more and over circulating. The second main problem is bank notes state 'I promise to pay the bearer on demand the some of - Five pounds sterling' for example, this is supposed to link to a real commodities like Gold or silver and if we all wanted to cash our I O U's in at the same time would banks even have enough real commodities to cover this (I would not bank on it lol). Another simple way to look at these issues is banks that control 'current real money' are simply businesses and if banks go out of business your pieces of paper (e.g. bank notes) are worthless. Bitcoin solves these problems and is not manipulable like £, $, Euro etc.. is as the amount of Bitcoin has a predetermined amount that is hard coded into the source code. Another huge advantage the new money system Bitcoin has is the fat cats are not taking big 3rd party cuts on transactions especially international ones making Bitcoin already the preference for allot of people and business when completing international transfers.

Q: Is Bitcoin a scam? What about a Ponzi scheme?
A: No Bitcoin is not a scam although you need to watch for independent scammers that may use Bitcoin or other cyrptocurrency either as a lure or form of payment.

Q: Isn't it too late to get into Bitcoin?
A: No, Bitcoin coin has huge long term growth potential.


Q: Why is Bitcoin so expensive? I can't afford a bitcoin.
A:You don't have to buy a whole Bitcoin, you can buy satoshi's which are fractions of bitcoins from as little as £50 on some platforms like localbitcoins. It is a blike you have £1 made up of pence or $1 made up of cents, RE: 1 Bitcoin is made up of Satoshi's.

Q: If Bitcoin isn't bad, why do famous financial gurus like Warren Buffet warn us to stay away from it?
A:Everybody has their own opinion on Bitcoin you need to try and make up yours.

Q: How do I cash out Bitcoin?
A: Use platforms like localbitcoins to sell out your Bitcoin directly for bank transfer or cash.

Q: Is Bitcoin safe?
A:Yes as long as you keep the password for your digital wallet safe and don't do things like let people you don't trust team viewer into your computer.

Q: Who controls Bitcoin?
A: No one, Bitcoin is a decentralised currency run by the people.

I hope some of my above feedback assist in some way. I also hope I earn some merits.  Wink