Blockchain technology explained simply hired
And if you're an expert, I hope this intro video will be a valuable tool that you're inspired to pass along to curious friends and family! We will be producing more in-depth videos to explain Ethereum, Dash, Steemit, and the Federal Reserve soon!
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How does Bitcoin work? What is a blockchain? The idea for peer-to-peer Bitcoin transactions and the blockchain technology allowing them was published in October by an anonymous user—or group of users—under the pseudonym Satoshi Nakomoto.
There's a lot more in-depth explanation in the video above, but here are just a few of the reasons why more people are using Bitcoin everyday: Some of the largest relief will be for remittance payments, money sent home by people working in other countries. This is a HUGE economy, with an estimated billion dollars flowing to families in developing countries. Transactions are handled with a buyer and seller only… no middlemen taking a cut of the sale.
Bitcoin mixes the digital ease of credit card payments with the privacy of a cash sale. With credit cards, you hand over your sensitive private data and account number every single time you buy something. With a decentralized network like Bitcoin, there is no single point to attack.
No stored private data to steal. Again, YOU are your own bank! Save Money on Everyday Purchases with Bitcoin!
Tools like Bitcoin debit cards now let people spend their cryptocoins anywhere credit cards are accepted, and several third-party tools such as Gyft. As with any investment, it's best to do some additional homework before considering jumping in. Don't invest any money you can't afford to lose. Bitcoin and blockchain technology allow for micropayments: Accepting traditional credit card payments is expensive for merchants; Bitcoin's low transaction fees save business owners serious money!
Credit card transactions are also vulnerable to fraudulent payment reversals and chargebacks. Bitcoin payments are not reversible, making malicious chargebacks a relic of the past. The Robust Community of Bitcoin Enthusiasts! Bitcoin is fascinating, and Bitcoin users are fascinating people! There's a robust community of inspired people that are excited to help new users learn the ropes for using Bitcoin casually or how to accept Bitcoin for your business.
How Can I Get Bitcoin? There are plenty of easier ways to get Bitcoin, thankfully. Learn More About Bitcoin — Additional Resources Here a just a few of the better resources available for Bitcoin enthusiasts—novice, expert, or anywhere in between: How to Choose the Best Wallet for You " via cryptorials. Subscribe to Neocash Radio on iTunes! Authors get paid when people like you upvote their post.
The video is up as creative commons on Youtube. Good job on the video. Looking forward to the next one. Nice video and informative! And Silicon Valley venture capitalists are also queuing up to back it. This is how blockchain will change your life Will blockchain change the world? Rosamond Hutt , Formative Content. The views expressed in this article are those of the author alone and not the World Economic Forum.
We are using cookies to give you the best experience on our site. By continuing to use our site, you are agreeing to our use of cookies. Rosamond Hutt Formative Content. India is now the world's fifth biggest defence spender Briony Harris 04 May Saharan solar farms, sustainable limits and other top stories of the week Adrian Monck 04 May It's 40 years since the first spam email was sent. Here are 5 things you didn't know about junk email Rob Smith 04 May More on the agenda.
Explore the latest strategic trends, research and analysis. So what exactly is blockchain, and why are Wall Street and Silicon Valley so excited about it? How does it work in practice?
Written by Rosamond Hutt , Formative Content.