Welcome to the Bitcoin Crash Course. This website has been crafted to not only teach you about Bitcoin and Blockchain but also introduce you to the term Initial Coin Offering or ICO and highlight a number of different mining organisations and how you can participate in this endeavour if you choose.
Using videos we will demonstrate how you can buy your first Bitcoin via an exchange and to set up a Bitcoin wallet. This may even allow you to obtain your first little slice of bitcoin free, but of course, not a whole Bitcoin unless its price crashes to 2011 levels again.
Again using video we will show you how a transaction works because Bitcoin and the digital currency revolution it has started is best demonstrated and experienced than explained. Unfortunately, the developers are forever making changes so it is very much a moving and evolving target.
OK so let's start with basics. In 2012, I heard about Bitcoin for the first time and I almost bought it but the systems were a little more confusing back then and the idea of having my wallet hacked was not encouraging. It seemed like a great idea to just buy a little back then but now, although the price is much higher and just as volatile, it is easier to get started.
Bitcoin uses the Blockchain, a concept of decentralization explained in a white paper written and released in 2008 by Satoshi Nakamoto. It was titled "Bitcoin: A Peer-to-Peer Electronic Cash System". Version 0.1 of Bitcoin software was released on Sourceforge on 9 January 2009.
Bitcoin is the first system of money that is not controlled by any entity, that is completely decentralized. It completely separates money from nations, sovereign issuers, and financial institutions that control its arbitrary value. This makes it possible to go from institution-based money to network-based money.
So Bitcoin is the beginning of the first completely global, completely decentralized, and open form of money. In fact, it has more utility than money as it is smart in that you can build applications around it because this money is programmable. I suppose it is the web 2.0 of credit card chips but in this case, the owner has full control over the application. The innovation around this smart opportunity will leave us shaking our heads in awe at what is possible when trust is total and innovation is not permission based. Anyone in the world can download an application or use a Smartphone and immediately acquire the same powers that institutions of banking have today.
We simply cannot yet imagine what applications we're going to build around the Blockchain and of course, with Bitcoin, you control your money. You will have complete and total authority over Bitcoin. It cannot be seized or frozen and transacted with almost complete anonymity.
Exponential innovation on a global basis giving access to all global citizens to the ability to make a transaction with another with full trust. This system offers them a solution, and yes it is still at the formative stage but then so was every new innovation we now take for granted. Bitcoin today and all of the currencies that are built on that recipe are just at the same level that the Internet was in 1991. Only now we have the Internet. And so the rate of exponential growth has already started. The innovation is growing at an astonishing rate.
When you take digital currency mainstream and give it to the four billion people who have been isolated from international finance and commerce, and you give them the opportunity to control their money against the spotted governments and corrupt banks that are stealing from them, you give them the opportunity to control their future, you give them the opportunity to transact with everyone in the world. To own title on their own property in a fully transferable digital token that is recognized everywhere. Control over finance that cannot be seized frozen or censored. They will buy food, health care, sanitation, education, shelter because that's what we do. And they will not be denied this technology. Do not underestimate where this is going.