Financial wellness education resources curated by the Council of Coin community
What is Bitcoin?
Bitcoin is the OG cryptocurrency that started it all. We advise all members whether they’re new or seasoned to continuously study Bitcoin. Bitcoin is a topic that you can study for 10,000 hours and still learn more, we’ll give a simple synopsis here and resources to dive in further.
Bitcoin is the currency of the internet. It is a digital means of transferring and storing wealth without the need for banks or 3rd parties. Its essentially email for money.
It was created as a solution to the modern financial system, where we have a small number of large banks that control who gets an account and which transactions get processed. This means the control of money is centralized, and we have to trust the banks to act responsibly.
Bitcoin is a computer program that allows for transactions to occur in a decentralized way. It records transactions into a distributed ledger called a “blockchain” that is shared and verified by a network of independent computers.
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