Bitcoin is just one name or term you know bro...this is where shit gets real....
The backbone of bitcoin is an idea ..its an idea of decentralized economy's in the future ..and this is the seed that grew from the 2007 economy crash ...blockchain ledger technology and a new age of fintech was fosterd ..
this is when you start to realise it's no joke this digital currency shit...bro...check this shit out..its changing the world right now bro!!..
when you look deeper it IS actually backed by something real unlike the USD.. .previously I would have said the GBP too but they implemented blockchain fintech into UK currency on the release of the new digital polimer notes .
bitcoins experimental success has innitated the largest redistribution of assets in history..an everyone can grab a chunk of the pie right now...no shit!!..fukin Venezuela just made it there national currency..its been the most expencive currency in the world for over 2 years nearly now...its crazy atm bro..an it's only getting crazier..let me explain..lol
in a few weeks bitcoin gold is coming from a new hard fork and segwitx2 is about to increase the network size....its making out at 5000$ and it's clunky now..when it upgrades it's going to dip then explode... the wallstreet big boys get turned on this week with ledgerx..its about to poo off bro..it just became cool to trade bitcoin..
THE EXPLANATIONS.....WHY IT IS REAL..NOW!!
bitcoin was invented by this dude ..hes an internet ghost called shatoshi. he wrote this whitepaper called "Bitcoin a decentralized transaction network". or some shit like that ... anyways , in reaction to the 2007 market crash shitoshi proposed this legendary white paper.......anyeays 2017 and the crypto currency stuck and it's 3500 a bitcoin now..
McAfee said something very interesting lately when he was visiting china ...it cost a bitcoin miner 1000 dollars to produce a single bitcoin..it will never drop below 1000$ a bitcoin because thats what it cost to make...unlike dollar bills
this is because the computation power needed to solve the cryptographically problem that the bitcoin network presents (that is mining) ,, is actually valued in the reward for solving the problem itself in the form of the bitcoin ..
the weird thing is that bitcoin itself is actually a solution code ..this "solution code" is worth money..data is money ...and that's the blockchain system ..its the digi ledger thats about to replace oldscool system's..its how your online banking now works,,,it's called "push settings" and "smart contracts" ...
geez bro..smart contracts and ethereum are taking over bitcoin too... the current gov instertutions jumping on the bsndwaggon with etherium ..youtub this set of keywords if you want to know more .. Vitalik disrupt..
Bitcoin is underpinned by a concept called decentralised p2p economics . the underlining tech is called blockchain technology and when it's partnered with a ledger it becomes a full on decentralised economy
check it out yourself bro an see if it's too much to bother with..i caught the brain virus ..im fuked ..save yourself before it's too late ..lol
i.c.mag saved my life