What is Bitcoin? It’s not what you think

Thought Bitcoin was a currency? Think again… Definitions are useful. They help us understand what we are talking about and by being specific and precise we can understand more about our actions and our behaviour. So let’s look at Bitcoin and find out what Bitcoin really is. Is Bitcoin a currency? No. The general definition of a currency is that it is a unit of accepted value that facilitates exchange. Many argue that because Bitcoin can be used to make payments, it is a currency – however, stating a price in Bitcoin is largely meaningless, because the value changes so dramatically. Most....