By now most of you have heard of Bitcoin, the ‘new’ currency revolutionizing finance. Some of you may actually own a little, and a very few of you may be mining it. But what is Bitcoin and why is it important to understand this new currency?
Simply put, Bitcoin is digital money. The concept of ‘digital’ may seem bizarre to us because we’re used to tangible assets. I can hold a dollar bill in my hand, place a gold coin in my pocket, or hang a valuable painting on the wall.
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