Learn about Bitcoin
Want to learn about Bitcoin?
There are good reasons to learn more about this innovative new technology…
- Digital Currency – is how monetary wealth will be moved and transacted in the future.
- Integration – is already occurring as digital finance becomes more widely used.
- Participation – using digital money now vs. waiting until fully integrated is a wise move.
Sound Interesting? Keep Reading!
Emerging economies around the world are providing millions of people with access to the digital world using bitcoin. Major players in the financial world are getting involved, indicating bitcoin digital assets will soon go mainstream. Now is the time to learn what makes this developing technology unique so you can determine how it will affect your future.
Bitcoin is a global currency that is easily transferred from person-to-person instantly – even across International boundaries – at a fraction of the cost of fiat wire transfers. No third-party intermediary or bank is required, and anyone with a wallet can send or receive funds. For the first time in history, individual wealth is not locked in or out by borders.
Transfer of funds to another person’s bank, your PayPal account, or internationally can take 1 to 5 days on average. Bitcoin can be sent and instantly received by the recipient without the need to use a third party. Confirmations can take 5+ minutes – but receiving funds is fast and transaction fees are low.
Safe and Secure
Only those who own the private key can send the bitcoin. Private keys are long chains of random numbers and letters, and transactions are secured and encrypted with a 16-digit code. Bitcoin is secure because it is the longest chain with limited supply, secured by proof of work. The Bitcoin network has never been hacked and is growing in strength because the blockchain is constantly reviewed by the entire network of global nodes.
Bitcoin has no political interference by any entity, bank, or government. It is decentralized and not owned or controlled by any central entity. Bitcoin is 100% transparent and open-source, which means it is free for anyone to use.
Cheap to Use
Bitcoin users have full control of their money. Users choose their own fees to send transactions, there is no fee to receive bitcoins. Higher fees can be optionally paid to encourage faster confirmation of your transactions. It can cost the same to send $100 as it does to send $100,000 worth of Bitcoin, as the fee is based on data size, not fiat value.
As long as you own your own private keys, bitcoin is unconfiscatable. Unlike other assets, such as cash, house, car, IRA, social security, gold, etc. – bitcoin cannot be confiscated (or frozen) by any entity.
Bitcoin is not “debt” – it is built on mathematics, open-source, consensus, and decentralization. Debt-based fiat, enabled by fractional reserve banking, is credit that can exist in two places at once, counted as money by multiple parties. Bitcoin has no counter-party risk, thus the defining characteristic of inflationary debt-based money is mathematically and cryptographically eliminated.
Both the Internet and Bitcoin are decentralized, largely open-source protocol stacks. Antifragile is a term invented to explain any phenomenon that becomes stronger upon encountering volatility. Both technologies have been deemed “dead” many times, yet both have transformed our civilization and it is believed they will continue to do so well into the future.
Our Bitcoin CryptoCenter contains free articles and resources to help get you in-the-know.
BitcoinSoEz™ is the culmination of our efforts to navigate the digital currency space over the last several years. No whales or old-timers in this group! Just enlightened bitcoin-enthusiasts who do not profess to know everything, but have learned a few things. Friends, family, colleagues, as well as complete strangers – started asking questions and showing interest due to our involvement. The problem was, we found it hard to direct them to one source for explanations that were not so complicated as to be discouraging. We decided to use our particular skill sets as developers and entrepreneurs to deliver some clarity.
There are thousands of sites online, many with incredibly valuable content that you will find links to in our articles. But more often than not, we found regurgitated content that was more confusing than inspiring. We set out to create a platform our less tech-savvy friends and family could use to gain an understanding and perhaps take advantage of what we feel is a once-in-a-lifetime opportunity.
Bitcoin and crypto assets can be complicated. But nobody has to understand every aspect of the underlying tech any more than we know what makes our smartphone or electricity work. We type in text and deliver messages instantly to each other. We pay the bill and we have power. We flip a switch and the lights come on. In other words, we utilize complex systems and services daily that few of us fully understand.
With that in mind, if you want to participate or just become knowledgeable about bitcoin, start with the basics and build upon that foundation. It is super easy to create a free wallet account, buy $10 worth of bitcoin, and send it to someone or spend it. That’s the first step and, if you have kids, chances are they can walk you through that process in mere seconds!
Then dig deeper and learn things to help you determine if you need to know more about bitcoin. It is destined to have an impact on your future, so why not get a grip on it now? You’ll be glad you did, if for no other reason but to know fact from fiction on the subject of bitcoin and what separates it from other “crypto” assets.
Visit our FREE knowledgebase of articles that address all the topics we had questions about when first becoming bitcoin-aware. We hope you find it helpful!
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