So what really is bitcoin?
Hereby known as the obligatory description of bitcoin and how it works. Which is a bit of a headache so well skip it for now.
Kidding hahaah.
Something like Torrent from my understanding (correct me if Im wrong), where every computer connected to the system has the same data of who has how much money or if money was transferred to another account. The miners - the people with special computers who lets us use their computing power are the ones "operating" the system.
That is called a Blockchain. Remember this word as it is a defining characteristic of any cryptocurrency. If you ever have to bluff your way to explaining bitcoin, you can just mumnble mumble BITCOIN, mumble mumble, BLOCKCHAIN and you'd be home free.
If a miner decides to insert info that claims he has a million bitcoins, it will be ignored by the system because the data does not coincide with the other computers. This is why its a very safe system.
And no. Those coins you see on the picture is not true. If someone is selling you a real coin for a "discount"saying its bitcoin, either run away like crazy or get the police. Its definitely a scammer. Bitcoin exists purely in the online world and no one has printed it "so far".
If you are not going to be trading and just use bitcoin to buy stuff online, you can stop here. I think, bitcoin might probably be the coin of the future and its okay if you're not using it to trade. Use it for savings, against inflation, lock it in a wallet, buy load, or give it away, I dont care.
For bitcoins, or any other cryptocurrency for that matter, the more you use it the better for the community!
(Okay, there's a lot more but that will do for now.)
Posted from my blog with SteemPress : http://takeprofitapp.xyz/so-what-really-is-bitcoin/