Bitcoin, The Good, The Bad, The Ugly and The Amazing!!
You’ve seen my many posts promoting Bitcoin and just like most people, have wondered what it is. Well in this post I try as much as I can to expatiate more on it. I hope this helps. What is bitcoin anyway? It’s probably the best-known digital currency. The basic idea is that you can use it to pay for things without a third-party broker, like a bank or government. Think of bitcoin like one big ledger shared by all the users: When you pay for something with bitcoin, or get paid, then your transaction is recorded on the ledger. Computers then compete to confirm the transaction by solving complex math equations, and the winner is rewarded with more bitcoins. The process is known as “mining,” Only the computer powerhouses get their bitcoins this way. However, a number of them have opened up their services for individuals to invest in "mining" with a profit sharing model where you earn bitcoins for your investments. What’s the point? The currency has