In this section for newbies to the crypto currency space I explain a bit on Pyramid, Network makerting and Bitcoin. This might seem obvious to the people already in this space.
In the video below I explain that bitcoin is a currency or store of value as some would refer to it. Simply it is the new money, and like any money the value is drawn to a great extent in the belief people put in it. Bitcoin is digital and is not tangible but is worth something (a lot). It has been appreciating and is one of the few currencies know to appreciate again all major currencies of the morden world. You need to start in whatever way small or big by at least investing some money in Bitcoin and earn from it's appreciation.
This new currency has formed too what I call 'a parallel economy' in the sense that there is a market for exchange (from and into other currencies) whether digital or FIAT. There are companies and services that you can use to borrow bitcoins and payback (think loans). There are merchants that accept it as a form of payment for good (medium of exchange).
You can treat it as the new digital store of value (think Gold) which now more valuable than gold looking at how it's priced. Bitcoin has similar properties to gold, like difficulty in mining it making it more expensive to mine over time. Tried and tested over the centuries of old Bitcoin comes out as a new kid whose future value can only be guessed at this point in time. Like gold, it is a finite resource and will at some point run out or finish getting mined, meaning that supply and demand will dictate price and that can only be positive for Bitcoin.
The interesting thing is people have now labeled it as the greatest transfer of wealth (to the nerds) as geeks and tech savvy people started to adopt this form of money more. But generationally this is the norm that younger people tend to try out new things tech and adopt it faster than previous generation who understand their ways of doing things. I really hope this video while aimed at newbie will shed some light.
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