Quote from: LimLims on Today at 05:14:30 AM

Quote from: prabhu-pawar on Today at 02:46:04 AM

Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer.

People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people.

Every single transaction is recorded in a public list called the blockchain.

This makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies or undo-ing transactions.

I can understand and relate to the ‘how it works’ part.
But to be honest what you have written about ‘what is Bitcoin’, that’s too complicated to understand.

We can define Bitcoins more easily.
Bitcoins can be considered as an asset that is stored digitally and yes it has some market values.
People sell or buy the Bitcoins to get money.
It’s as simple as that.

There are three main ways people get Bitcoins.

You can buy Bitcoins using 'real' money.
You can sell things and let people pay you with Bitcoins.
Or they can be created using a computer.

prabhu-pawar

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