Many readers of this website are intrigued by our focus on the digital currency, Bitcoin. As the world’s first decentralized digital currency it has already reached impressive landmarks including surpassing the dollar in value and preparing for large-scale implementation across mobile platforms. However, many are still slightly stumped by how exactly it works and what good it can be. To solve this we’ve got a little video explaining the idea in easy to understand terms.
What this means is that you can take this currency (like any other) and trade it with people for goods and services. A Bitcoin is exactly what you would expect a free market currency to be like: finite, based in something of real value, and freely exchangeable. The reason it may at first seem a bit perplexing is that we are so used to seeing fiat currency that even something like a gold coin might not quite glean in the eye properly.
And for those of you that can stomach the voices:
