A friend asked me: What is Bitcoin?

I think she was expecting a long answer. Every explanation of Bitcoin I’ve ever heard has gone deep into cryptography, blockchain, mining and Satoshi Nakamoto, the cryptocurrency’s semi-mythical creator.

Instead, I gave my friend a short answer.

What is Bitcoin?

It’s money.

It’s just that, unlike the dollars we’re more familiar with, it’s not issued by a government.

It’s issued by an algorithm.

That’s it.

Well, I do have a little more to say in today’s episode.

I don’t go into cryptography, blockchain, mining or Satoshi Nakamoto, but I do go a little deeper into what it means that Bitcoin is money that’s issued by an algorithm, not a government.

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Disclaimer: This is not investment advice. Tangled Web is about tech, not investment. It’s for information purposes only and you should not base any investment decisions on it. Do your own research.