What The Hell Is Bitcoin?

In Saner Thought

How many old farts are sitting there listening to the news and hear that Bitcoin has settled at $1400 at the close?

How many know what Bitcoin is?

The truth until recently I had no idea what it was……so to help out all those people scratching their heads when the term “Bitcoin” is mentioned…..

Bitcoin has transformed from an idea that some treated with great enthusiasm to an asset of strikingly growing value. It is digital currency, of which there are many others, and its price has soared in recent weeks. I will admit to not understanding what bitcoins are in principle, to the extent that I have not even been able to define my own questions. But now that I have developed some basic level of understanding, my core question is this: Is bitcoin a currency designed to facilitate commerce, or is it a commodity that has intrinsic value…

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