Bitcoin and the Cryptocurrency Revolution

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What is Bitcoin?

Bitcoin is a cryptocurrency and a payment system introduced in 2008. The system is peer-to-peer and transactions take place between users directly, without an intermediary (ie bank). These transactions are verified by an open network and recorded in a public ledger called the blockchain. Since the system works without a central repository or single administrator, no government or central bank can manipulate it. The US Treasury defines it as a decentralized, virtual currency. However, the IRS treats it as a commodity for taxation. Bitcoin is the largest of its kind in terms of total market value of $13.3 billion at time of this writing.

 

(10 Mins) Here is a great TEDx video introduction to Bitcoin. (Look at the background…anything familiar?)

 

(35 mins)  Intro. to Bitcoin

 

(23:51 mins) Andreas Antonopoulis – Bitcoin Missionary

 

Many more Bitcoin videos (both pro & con) are available on Youtube.com

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