So, what exactly is Bitcoin?

[admin]

Searching through the Web I was trying to find the simple explanation of Bitcoin that everyone can understand.
Let's start here:

 

[Eviltoasmen]

A great experience here is an ideal vacation for me
thank you

 

[Old Fart]

Searching through the Web I was trying to find the simple explanation of Bitcoin that everyone can understand.
Let's start here:

Thanks. Never really did get it (as my handle says, I am an old fart). This brief video makes it a bit more clear.

 

[Gallealonso]

I had something similar! It's nice that this question is of interest not only to me!

 

[AthleticAF]

It's a scam. They created it and control it, not some rando' Japanese dude named Satoshi. It's a scam in a way to let you think you can get generational wealth fast and then they (with their whale buddies) will take your money when they see fit and it starts to drop.

 

[Lalallala]

It's a scam. They created it and control it, not some rando' Japanese dude named Satoshi. It's a scam in a way to let you think you can get generational wealth fast and then they (with their whale buddies) will take your money when they see fit and it starts to drop.

It’s a ponzi scheme. All of crypto so far is a Ponzi scheme.. until you can do something other than sell it to another gambler (eg actually buy goods or services with it), then it’s good for nothing. And the only way it can ever be used for goods or services is if the value remains relatively stable. You can’t have swings of multiple % per day.. let alone the crazy swings that these meme coins get.

 

[AthleticAF]

It’s a ponzi scheme. All of crypto so far is a Ponzi scheme.. until you can do something other than sell it to another gambler (eg actually buy goods or services with it), then it’s good for nothing. And the only way it can ever be used for goods or services is if the value remains relatively stable. You can’t have swings of multiple % per day.. let alone the crazy swings that these meme coins get.

Great way to control people's assets as well, essentially that's what it is. And if there is ever a blackout or "Russian attack" or "hackers", oops, can't access your digital wallet or do anything with it when everything is in a blackout.