Posted by LAA on December 12, 2017 at 19:38:24 from (130.117.142.131):
In Reply to: Bitcoin questions posted by jocco on December 12, 2017 at 12:16:22:
Bitcoin is basically the serial number of a monetary unit, this number is ''mined'' with powerful computers and while the programs and algorithms to do so are available to anyone they are written as to eventually limit production to roughly 120 million units. The blockchain is the key to the value of the bitcoin because it is the ledger that prevents counterfeiting or copying as well as providing total anonimity to the holders, for that reason bitcoin is popular in suppressed countries like china and venezuela. I have read that bitcoin trading is not all that liquid and sometimes takes a while to sell, there is supposedly a futures exchange for bitcoin coming soon which would make it more liquid.
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