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Title: Bitcoin Express: Know How Does Bitcoin Work and How to Use It Like Money
Subtitle: KnowIt Express
Author: David Neal, KnowIt Express
Narrator: KnowIt Express
Format: Unabridged
Length: 34 mins
Language: English
Release date: 06-07-16
Publisher: N2K Publication
Genres: Business, Commerce & Economy
Publisher's Summary:
You MUST download the accompanying reference material PDF in order to go through the audiobook.
Get on the express for Bitcoin: Know How Does Bitcoin Work and How to Use It like Money You probably have seen it discussed in the news or around the Internet. Heck, you may even have heard your techie friend babbling about at one point when you couldn't care less...until now, with a changed heart and reconsidered mind.
We're talking about the next big thing - bitcoin.
As you may or may not realize, the next revolution is upon us (if not already here) in how we will forever conduct monetary trade with the already large quantity of transactions done electronically every day and still on the rise where basically our money can be considered digitalized. And with that, arises bitcoin.
Are your still scratching your head...what is bitcoin? How does bitcoin work? In order to understand bitcoin, you have to understand the difference between currency and money.
Currency is a tangible form of money. In other words, money is intrinsic while currency is extrinsic. For example, paper can represent money; coins can represent money. In this case, currency equals those paper and coins as mediums of exchange. Currency has had an ever-evolving long history: from bartering with commodities like grains and livestock, to trading with stones and coins, and to using paper dollar bill money as we know of today.
The problem with the dollar bill or paper money is that the government can easily print more of this paper that represents money, and has been doing so...thus causing inflation with your paper money to worth less than it actually is. Contrast to gold, the government can't create gold like they do with printed money. The value is based on scarcity.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.
Members Reviews:
Clear and informative
I had heard of Bitcoins as a currency before reading this book, and had always been interested in it, but I didnât realize how much was involved. I didnât know anything about them, or what you could use them for. Thatâs part of the reason this book was so interesting. I definitely learned a lot from it, and am really glad I took the time to read it.
With this form of currency, there are many pros and cons to it but youâll have that with anything. It amazed me how beneficial it was, though. If youâve ever been worried about security when it comes to your money, you wonât have nearly as many issues with Bitcoin.
The book also described how it might be more beneficial to some business people than others. For example, online stores or businesses would benefit greatly by this system. As a freelance editor, I found this book about Bitcoins to be much more interesting that I anticipated. It showed me everything I needed to know to make an informed decision about whether this currency system is right for my freelancing business.
It also gave a step-by-step process of how anyone reading or wanting to use the Bitcoin system how to start doing so. It was amazingly clear and easy to understand. The author didnât leave any room for confusion, and thatâs the best way to do it. I loved that this part of getting involved was included within the pages.