You don’t have to dig very deep to notice that when people talk about cryptocurrencies and the blockchain, they’re usually talking about Bitcoin (BTC).
In fact, to most people, BTC is synonymous with cryptocurrencies.
This huge popularity makes BTC the big player on the block. And with a recent price of $57,678 and a market capitalization of $1.1 trillion, investors are putting their money where their mouths are. And that’s having a dramatic effect on BTC price.
We’ll get into the nitty-gritty behind the best reasons for just about everyone to own at least a little Bitcoin in a sec.
But before we do, take a look at some of our prior installments on cryptocurrencies and the blockchain. We’ve talked about why you should own some cryptocurrency, what the blockchain and cryptocurrency mean to you, the basics of cryptocurrencies, and why they’re so important. They’ll help you get your head around the basics of cryptocurrencies like BTC and why they’re not as scary as they once were.
What is Bitcoin?
Bitcoin is a digital currency that lives in a distributed ledger on a place called the blockchain. Because of this digital nature, it doesn’t exist in a physical state, like gold or currency. And because it lives in a distributed ledger system on the blockchain, a vast array of computers track and secure the currency using cryptography. The people that run these computers are paid a fee for securing the network and making sure the transactions are correct by solving complex mathematical problems. These people are called miners and form the backbone of the BTC ecosystem. Continue reading "Why Everyone Should Own (A Little) Bitcoin"