Week 1: Bitcoin · Lesson 1 · 3 minutes
We go through the basics of what a digital currency even is, and how Bitcoin fits into it.
There's a lot of vocabulary in this space, so let's go through some of it now:
Digital Currency - Most of us don't actually have money physically in a bank. Most of the 'money' we make and spend is moved and managed digitally. If you use direct deposit, money is moving between you and your company digitally. The US dollar and most other national currencies are just as digital as Bitcoin.
Bitcoin (BTC) - not a coin! But it is a digital currency - you can send someone bitcoins much faster, more safely, and without the middlemen or fees associated with traditional banking - because it is controlled by a network of people, not one single authority.
Coinbase - A site where you can buy and sell bitcoins.