Innovators

Everything You Wanted to Know About Bitcoin But Were Afraid to Ask (VIDEO)

May 30, 2014

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2 min read

At Equities.com we like to talk about bitcoin. A lot. If you’re a tech geek, or at least one who likes to laugh at the tech geeks, you’re probably familiar with the jargon and basic ethos of the cryptocurrency. But not everyone spends their days buried in TechCrunch in between reading second-hand reports concerning current Chinese economic policy. Not everyone is anarcho-capitalist seeking to upend the government-backed fiat currencies via the digital revolution. Not everyone keeps their digital money in a digital wallet to pay for their digital cable service.

In short, not everyone knows what Bitcoin is. And that’s okay.

While ignorance of the ins and outs of BTC isn’t as endemic as it once was, even just six months ago (before the mainstream media went BTC crazy), it has certainly gotten to the point where at least a passing familiarity with how it works is considered baseline. But again, that’s not necessarily a fair assertion. Despite what its ardent proponents often argue, bitcoin does have a learning curve for those of us raised on paper currency. That is, basically all of us.

Watchmojo.com put together this short instructional video to bridge that gap, and answer all those questions about bitcoin you might have, but have always been afraid to ask. It’s presented in a series of factoids, like how many bitcoins are currently in circulation, while also explaining a “bit” about the reasons behind bitcoin’s ultimately finite supply.

Bitcoin is certainly divisive, and gets routinely mocked by old-line economists like Paul Krugman, who tend to view the commodity's designer(s) as lacking a fundamental understanding of economics. But despite his and other theorist's skepticism, not to mention calls earlier this year for a massive bitcoin bubble pop (that did not entirely come to fruition), bitcoin keeps hanging around.