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What is Bitcoin?

You have probably heard the term Bitcoin a lot over the last couple of years. But if you are like us, you still probably have no idea what Bitcoin exactly is?

We read somewhere that if you invested $1,200 in Bitcoin back in 2007, you would get 480,000 in bitcoin which would equal to $1.1 billion today and you would have become a billionaire basically over night. F*ck my Life! Well, it may be too late to earn like before but it isn’t too late to learn about Bitcoin.

This is what we found on wikipedia:

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency – the system works without a central repository or single administrator.

Still confused? Hit play on the two videos below for more:

Bitcoin Phenomenon – looks at the history, the ideologies, and the conflict between the politics of the early-adopters and the new age crowd.

Via NYP:

The popularity of bitcoin is attracting interest on Wall Street and beyond. “There are more hedge funds investing in bitcoin than ever before,” says The Post’s Kevin Dugan. The controversial digital currency, which became open to the public in 2009, started as a fringe movement concurrent with Occupy Wall Street. Now finance giants like Goldman Sachs CEO Lloyd Blankfein say it could be the next big thing. Others worry that bitcoin is a bubble ready to burst.

If you need more advice just consult a blockchain expert