What exactly is Bitcoin?

Is Bitcoin the new digital age currency?

According to the official Bitcoin website it says that, Bitcoin’s inventor, Satoshi Nakamototo originally named it,  ‘A Peer-to-Peer Electronic Cash System’.  It is a digital currency that is used like cash but with no banks involved.

The technology is at an early stage but some believe it has the potential to revolutionise the way we make payments. Similar to how Netflix has changed the way we access and watch television and movies.

There is a limited supply of  21 million Bitcoins.  The definition on bitcoin’s website says that it is mathematically limited to twenty one million and that can never be changed. See www.bitcoin.com

I know very little about this crypto-currency,  but I have heard much about it as it never seems to be far from the news – not least for  it’s volatility.

I don’t advocate it as I simply do not fully understand it – but I intend to find out more.

Please look out for my next post on Bitcoin.