Lately, we may have come across the word ‘Bitcoin’ a little more than usual and wondered what exactly it is all about.
Bitcoin is essentially a digital currency – a form of money stored in an owner’s online “virtual wallet”, free from the control of governments or central banks.
Bitcoin was released in 2009 by someone going by the pseudonym of Satoshi Nakamoto who wanted a virtual currency that was unrestrained by regulation. [Techradar]
In this video, Fisayo Fosudo, a tech Youtuber, explains what Bitcoin is and how it works.
1:06 Who is a Bitcoin Miner
2:00 How to Earn Bitcoin
3:48 How People Spend Bitcoin
4:23 What is the Blockchain
5:20 Who is Satoshi Nakamoto