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RE: Bitcoin Price Forecast 8/21/2017

in #bitcoin7 years ago

Create an account on an exchange- link your bank and make a deposit. OR how I got my first amount of Bitcoin (for free) was from Bitcoin faucets that gave out free BTC back in 2013. I used that BTC to buy DOGE surprisingly and that is how I first tested out the network. I later bought a single BTC from Coinbase for $700 using my bank account. Bitcoin is simply a digital commodity that is divisible by 100 million parts and there will only ever be about 21 million BTC in circulation (eventually).

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Thanks...

The way that Bitcoin actually works is like this:

Imagine a giant book that everyone has access to. Now this book has all of the records of who has how much money (Bitcoin). When you send any amount to anyone that information is recorded and broadcasted to everyone so that the records are all equally kept up.

Bitcoin is a public ledger system simply put. Within this ledger you have extremely secure information that only the holder of "private keys" can access. Each person with their own unique Bitcoin wallet (private wallet) has access to these keys.