Is bitcoin more than a cryptocurrency?
Where can I go to learn EVERYTHING about bitcoin? I want to learn more about bitcoins full potential and not just the money aspect of it.
- Andreas Antonopolous wrote a book called “Mastering Bitcoin”. It’s a great read for anyone who wants to know pretty much everything about Bitcoin and bitcoin.
- The Bitcoin Knowledge Podcast has interviews with CEOs from across the cryptocurrency space so you can learn about all the cool stuff they are working on at their companies.
- Bitcoin (with a capital B) is a distributed consensus system and payment rail. “Little b” bitcoin (BTC) is the mutual token of exchange for people who are using Bitcoin for payment and remittances.
- BTC is also the entry token to the distributed consensus system. For an example of an application of Bitcoin that uses Bitcoin as a distributed consensus system, check out Counterparty. In short, it uses Bitcoin like people play arcade games: insert token (BTC), but instead of playing a video game, do a stock trade, or bet on sports. Etc. It’s pretty much like a distributed E-trade brokerage built on Bitcoin, or InTrade that is censorship resistant.
- You might also learn something at www.muchbitcoin.org
The ‘bit’ Unit of Bitcoin Explained
Bitcoin can be divided into smaller amounts as follows:
- 1 BTC = 100,000,000 satoshis
- 1 BTC = 1,000,000 bits
- 1 bit = 100 satoshis
And in the future… 1 bit = 1$, right?
Bits fit into all existing financial software with two decimal points of precision such as EVERY other form of money. Easy to understand without having to get used to weird zero prefixes.
I think “bit” is a perfectly good way to describe the unit, in the same way people say “buck” for dollar. It’s not necessary to call it by some mathematically precise name, rather what’s easily adopted – which some wallets already have.
Bitcoin Could Reach $40,000 USD Very Soon
Bitcoin price prediction – up to $40,000 per 1 BTC may be real very soon.
The Dragon report mentions their model was predicting new money since 2005. When Bitcoin came along in 2009 they said it fit their model. If that is the case, then they would have immediately recognized the importance and mined/bought a ton of BTC. So did they?
1 billion additional people on the internet just from china?! China has a population of 1.35 billion, internet penetration is at 45.8%, leaving ~650 million people not on the internet in china. Where are the extra 350 million people going to come from?
How Far The US Dollar Has Fallen Compared to Bitcoin
This interesting graph shows how far the US Dollar has fallen compared to Bitcoin since the beginning. Bitcoin was started on 3rd January 2009. As for the beginning of 2017 it looks like this:
The value of bitcoin will be higher year by year. It is still a chance to buy quite CHEAP bitcoins in 2017, especially when the price is under $800.
