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What is bitcoin?

What is bitcoin? (Photo: Tech Tango)

Jack emailed me a challenging question: Can you explain bitcoin?

This is a detailed topic and we’ll touch on some highlights. If you haven’t heard of bitcoin, you will, as it is becoming widely accepted as a form of payment.

Bitcoin is a world-wide currency that is 100% digital –No banks control it. Bitcoins are created, by powerful computers that solve a complex computer algorithim. These Bitcoin Miners are located throughout the world and anyone can own one.

When you purchase goods using bitcoin, the bitcoin computers validate the transaction. You keep track of your bitcoin in software called a bitcoin wallet.

You can buy bitcoin at ATM’s or sell goods and accept it as a form of payment.

For my full article on bitcon, in plain English, visit techtangotoday.com.

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