When people ask me about Bitcoin it becomes a bit overwhelming trying to explain it to them so I decided to put this thread together. This is just my personal understanding/opinion and NOT Financial Advice* 

I hope it helps even just a little bit!

There is only ONE Bitcoin. All others are “Alt Coins”.

Buying Bitcoin

When you buy #BTC on a public exchange (Coinbase, Cashapp, Etc.) it is being held for you the same way a bank holds your cash. Holding Bitcoin on a public exchange is NOT recommended, it is vulnerable to being hacked. (Capital One was recently hacked as well as many other banks.)

Purchase a Cold Wallet. (Ex. http://ledger.com) A cold wallet comes with a private random 24-word recovery phrase that you can be used to restore your digital wallet on any new device regardless if it was lost or stolen. 

Do I have to buy a whole Bitcoin?

 No, each Bitcoin is broken down into smaller units called “Satoshi’s” just like the $USD is broken down into cents. 

Is it a good time to buy Bitcoin?

*This is NOT Financial Advice* It is ALWAYS a good time to trade in your fake FIAT monopoly money for the scarcest, most revolutionary, hardest asset available in our lifetime. It is the Best Performing Asset in the past 10 years.

$ Value < Satoshi Amount. 

OIL is negative, FED is going negative, Stocks are up because the FED is continuously printing $TRILLIONS to bail out poorly managed companies and corporations while small businesses are left out in the rain & people's savings are being devalued due to inflation. 

Peacefully protesting by hedging your hard-earned money in an asset that boycotts the reckless and irresponsible management of monetary policy by governments around the world time and time again sounds like the most logical investment for me personally. #BTC 

Short term price doesn’t matter

There are currently over 732,000 wallets holding at least 1 full bitcoin. There are 46.8m known millionaires in the world. There will only EVER be 21m Bitcoin. (Some are lost so even less) Owning 1 Bitcoin is a Big Deal.

Bitcoin is Hard Money. Only 21 Million Bitcoin EVER. Bitcoin is far more efficient, convenient, accessible, and scarce than gold ever was or will be. If there is a higher demand for gold it will be met with higher supply 

What is Bitcoin - a little background?

Bitcoin is operated on blockchain technology. (A revolutionary technological advance). Bitcoin was created anonymously by someone called “Satoshi Nakamoto” after the 2008 market crash. It now has an over 10-year track record. It has over $120b market cap. 

Bitcoin can NOT be shut down. You would need to shut down the internet & I don’t see that happening. Bitcoin has been actively running 99.98% since 1/3/2009. Chase/Capital One/Etc. has issued almost if not every single day. Transactions can NOT be frozen. No third party.

Bitcoin is NOT a company

Bitcoin has NO owner 

Bitcoin has NO CEO

Bitcoin has NO offices

Bitcoin has NO HQ 

Bitcoin has NO agenda but to hedge against Inflation. (The devaluation of your purchasing power)

Bitcoin is run on a vast decentralized collection of public and private networks of computers. “Miners” solve complicated cryptographic equations to verify transactions and add them to the blockchain. The fastest “Miner” to validate a transaction is rewarded with a new Bitcoin.

Bitcoin Halving. Every 4 years the #BTC reward for “Mining” is cut in half. This limits the amount of new BTC introduced into circulation. 

Less Supply = More Demand = Higher Value.

The FED reserve recently printed more than $6 TRILLION new $USD. The FIAT monetary system has NEVER worked in ALL of history. The stock market is soaring as 6.6m people file for unemployment. We are living in a historical moment. 

Bitcoin is Convenient. 1.1b worth of Bitcoin was just moved almost instantly for a fee of $0.69. No bank, third-party, or government could’ve stopped that payment. Imagine the fees, time delays, issues with a wire transfer. Imagine 1.1b worth of Cash/Gold from LA Airplane Russia.

Disclaimer - The views and opinions expressed in this article are those of the author and do not represent the views of Bit2Buzz.