Intro Into Bitcoin

Bilal Ali

0:00

Elearning

Description

I have recently been researching and investing into Crypto currency, as this is a relatively new topic a lot of people find it difficult to at first the reason behind bitcoin and the revolutionarly impact it will have therefore i have recorded a brief intro into bitcoin.

Language

English

Voice Age

Young Adult (18-35)

Accents

British (England - Yorkshire & Humber) British (General)

Transcript

Note: Transcripts are generated using speech recognition software and may contain errors.
today, I'm going to give you a brief introduction into what Bitcoin is. Bitcoin is a new type of digital money and just like with our money, you can store it, exchange it and make payments with it. The key to what makes Bitcoin different from national currencies like the U. S. Dollar, the euro or the Japanese yen lies in its decentralised structure and opt in model with centralised Fiat money. Currencies issued by central banks and citizens are forced to use the money of their nation. With the exception of cash, which is becoming increasingly rare, Transactions are made through intermediaries like banks and payment getaways. Bitcoin, by contrast, is an opting currency that is controlled by the consensus of the will of its users. It consists of a growing network of people who voluntarily agreed to the rules of the Bitcoin protocol. They use decentralised infrastructure to make transactions on a peer to peer basis and star value independently of any government, company or financial institution. There's no need to ask for permission to use Bitcoin, and there's no risk of being cut off from the system. Importantly, the system itself is headless and distributed globally makes it both resistant to corruption and extremely durable