Bitcoin Basics That Could Make You Rich !

#bitcoinexplained #whatisbitcoin #bitcoinfordummies

Become A Bitcoin Millionaire

Simply put, bitcoin is a digital currency. No bills to print or coins to mint. It’s decentralized — there’s no government, institution (like a bank) or other authority that controls it. Owners are anonymous; instead of using names, tax IDs, or social security numbers, bitcoin connects buyers and sellers through encryption keys. And it isn’t issued from the top down like traditional currency; rather, bitcoin is “mined” by powerful computers connected to the internet.

How does one ‘mine’ bitcoin?

A person (or group, or company) mines bitcoin by doing a combination of advanced math and record-keeping. Here’s how it works. When someone sends a bitcoin to someone else, the network records that transaction, and all of the others made over a certain period of time, in a “block.” Computers running special software — the “miners” — inscribe these transactions in a gigantic digital ledger. These blocks are known, collectively, as the “blockchain” — an eternal, openly accessible record of all the transactions that have ever been made.

Using specialized software and increasingly powerful (and energy-intensive) hardware, miners convert these blocks into sequences of code, known as a “hash.” This is somewhat more dramatic than it sounds; producing a hash requires serious computational power, and thousands of miners compete simultaneously to do it. It’s like thousands of chefs feverishly racing to prepare a new, extremely complicated dish — and only the first one to serve up a perfect version of it ends up getting paid.

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Note of caution: all of our videos are personal opinions. Do your own research. Never take one person’s opinion for financial advice. There are many strategies and there is not one strategy fits all people. Our videos ARE NOT financial advice.

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Technical Data & Charts
🥇Golden Pocket Chart. “ This will tell you when the Bull Run Ends”:
https://www.tradingview.com/chart/BTCUSD/QBeNL8jt-BITCOIN-The-Golden-51-49-Ratio-600-days-of-Bull-Market-left/

🥈Stock To Flow Chart:
https://digitalik.net/btc/

🥉Bitcoin Pi Cycle Top Indicator:
https://www.lookintobitcoin.com/charts/pi-cycle-top-indicator/

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