What is Bitcoin? By Bastien Muster

The SwissBorg Community App gives you the opportunity to make predictions about the fluctuations in the price of Bitcoin and to become familiar with the world of cryptocurrencies and blockchain.

What is Bitcoin, exactly? How revolutionary is it and where does it derive its value? More than a simple investment, Bitcoin is a store of value for the digital age. It is important to educate and inform yourself about the asset in question, beyond the search for a return on investment.

According to Wikipedia:

“Bitcoin (₿) is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.”

At first glance, this definition may seem a little obscure in the eye of the uninitiated.

To understand the nature of Bitcoin better, let us take a look at today’s most common method to exchange value: electronic money transfer via banks. How does it work? Read more here.