An Introduction to Bitcoin for The Rest of Us
Cryptocurrencies are everywhere you look these days. Many are wondering if they will become the primary means of conducting business transactions in the future. We have all heard the stories about the unbelievable financial gains some have made in such a short time. And also the volatility and painful losses. What will happen to “money” as we know it? Still others would like to know how to get “in on the action.” Investing in cryptocurrencies requires a greater tolerance for risk and learning a whole new vocabulary. The following is a guide to the fundamentals of cryptocurrency that I’ve put together from several sources. Cryptocurrency A digital money system made up of "coins" or "tokens" that are controlled by a decentralized electronic database ledger. Everything is electronic. Unlike “traditional” forms of money, there are no metal coins minted or paper money printed. Many casual observers may not realize there are different applications for cryptocurrency.