Ep115: What is bitcoin and blockchain? feat The Bitcoin Vegan

What is bitcoin and where do I start?

Ever wonder “what is bitcoin”? What about blockchain, ever heard of that? Lots of people have made a lot of money by investing in bitcoin. In this episode we talk to Justin Rhedrick, from Bitcoin Vegan. We discuss some of the basics you might want to know before diving into the cryptocurrency market. Why buy bitcoin? Is it too late to invest? How do I start? These are just a few questions that we discuss with Justin. If you want to learn more about bitcoin Justin has a complete coursed dedicated to bitcoin. Let’s get started.

LEARN MORE ABOUT THE COURSE HERE .

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Overview: What is bitcoin and Blockchain?

LoH Key Points

Bitcoin Basics
Is it too late to invest
What will happen next

Bitcoin Basics

So what is bitcoin? Bitcoin is one of many cryptocurrencies. Although there are many cryptocurrencies they aren’t all created equally. Some crypto can only be used on specific platforms. Theses can be compared to arcade tokens. The tokens can only be used in the arcade that you bought them from. Bitcoin however is a digital currency. It can be used globally to buy and sell goods digitally. Many consider the downward trend in the value of the US dollar as a sign to place there funds elsewhere. We know society is going digital, and many people have many great money with bitcoin. If you haven’t already, it may be time to consider your digital portfolio.

Is it Too Late to Invest?
Everyone wants to make money. If you have been paying attention you have seen bitcoin jump through the roof! We know we should buy low and sell high. So, why would we buy bitcoin? Is it too late to invest? According to Justin at Bitcoin Vegan; it’s not. You haven’t missed the boat yet. Many experts expect bitcoin to continue to rise in the years to come especially with the emergence of the digital age. Some see it as being the primary currency of the world in the near future. If you believe any of that then you know what you need to do. Besides that it is an actual currency that you can spend immediately. It has an upward trending value, and you can actually use it to make purchases right now.

What’s next with Bitcoin?
We can’t tell you exactly what’s next. But we can go over the pros of bitcoin and you can come up with your own synopsis. Bitcoin is a digital currency that provides its users with a sense of privacy. Bitcoin can’t be tracked the same way that purchases with a debit card can. Unlike the dollar, there is finite supply of bitcoin. No more is being created. That makes is valuable. Bitcoin has the liquidity of cash. You can purchase anything from anywhere in the world with it, but it also has the investment value of traditional stocks or bonds because of it volatility in value. This makes bitcoin very unique, and attractive. Even if you don’t fully believe in it, maybe you should consider buy a few pieces and see what happens.

LoH Challenge

The challenge is to go and buy bitcoin! Don’t worry, you can actually buy fractions of bitcoin. You can start by putting away a couple dollars each week to allocate towards your first investment. In the mean time you can do more research on your own about where to buy, or you can reach out directly to us or Bitcoin Vegan. We’ll help get you on the right platforms to start investing in crypto. If you want to learn more about bitcoin consider this online course from Bitcoin Vegan. LEARN MORE ABOUT THE COURSE HERE