What is Bitcoin? Why does Bitcoin matter? How can I get Bitcoin? | 2019 | Brian Harrington
Read The Bitcoin Standard - https://amzn.to/2ua0I33
Buy Bitcoin on Cash App - https://cash.me/app/DKLMCHH
Mine Bitcoin - https://www.minebitcoinsats.com
Earn Bitcoin Back on Purchases - https://lolli.com/ref/kksJDx7943
Get Paid in Bitcoin to View Ads - https://brave.com/bri414
Earn 6.2% Interest on Bitcoin - https://blockfi.com/?ref=e4eb755e
(These are not perfect sentences, just notes for the video above)
What is Bitcoin?
Bitcoin is money. Bitcoin is a non-state owned money. And what I mean by that is there is not a federal reserve printing it and there are no laws mandating that it be used.
Money is a good that circulates on the free market the same way any other good circulates by buyers and sellers joining together to exchange the good.
We came up with these goods called money because bartering is an in efficient way for us to exchange all the different kinds of goods and services we use every day.
So money in a simple definition is anything that is highly liquid and highly divisible so it can be traded for any other good you need.
Why is Bitcoin important?
Or phrased another way why do I choose to hold some of my wealth in bitcoin instead of holding it all in United States Dollars or another currency.
Bitcoin is important and I choose to personally hold some of my wealth in it because it is now the hardest money on earth. It is the most scarce money on earth. There will only ever be 21 million of them and no more. This was a technological breakthrough. Before 2009 when bitcoin was invented, there was no mathematical way to make a digital item scarce.
Think about an email or an mp3 file, if I send it to you, we both have a copy of it. That is obviously good for other digital items but not for a money. Bitcoin solved this problem number one.
And number two the printing schedule of the 21 million bitcoin is perfectly known, it's written into the computer code and gradually reduces over time. This is the exact opposite of the printing schedule for all other major currencies in the world today. The printing schedule of the US dollar is based on the decisions of human individuals which can never be perfectly relied upon which makes planning for the future difficult.
When they print new dollars, the value of the dollars in everyone's account goes down because it is no longer as scarce.
The 21 million bitcoin are currently divisible to the 8th decimal place and it's possible to use these smaller units called sats the same way you use smaller denominations of any currency.
The scarcity and known printing schedule is why I choose to hold a portion of my wealth, my saved hard work in bitcoin.
How can I get Bitcoin? Where can I learn about Bitcoin?
Buying - Cash app on Android and Apple
Mining - I've made a website called minebitcoinsats.com which has downloads to a program you can use to mine bitcoin sats on your computer
Online Browsing - Get paid in bitcoin to view ads using the Brave Web Browser