Bitcoin is a type of cryptocurrency, which
is digital money that’s decentralized, so
no person or government controls it.
It’s the libertarian dream.
There are lots of other cryptocurrencies,
like Ripple, Ethereum, and Dogecoin.
But the most popular is Bitcoin, created by
Nobody knows who that actually is.
Maybe it’s Al Gore?
He already invented the internet.
Whoever they are, they own almost a million
The first Bitcoin purchase happened in 2010
and it was for two large pepperoni pizzas
for 10,000 Bitcoin, now worth about $75 million.
Bitcoin is a transaction recorded on the blockchain,
a digital ledger.
The Blockchain uses cryptographic functions,
aka super complex math, to prevent counterfeiting
and security breaches.
The blockchain is updated by miners.
Everytime there’s a transaction, miners race
to validate it by solving super complex math
with their mining computers.
The first miner to solve it adds the transaction
to the blockchain and 12.5 new bitcoin go straight
into their wallet.
So it pays to be the fastest miner, but it
doesn’t always pay to be the fastest minor.
Visualize Bitcoin and anything else, with