Gobi's 2nd Blog

 While the first posts are filled with information about Bitcoin and how it works (in general terms), there are questions which it did not cover and some which I found were deliberately hidden away from the masses which could create doubts in them whether it is a good idea to invest or participate in Bitcoin. I have came across a Youtube clip from the famous online news channel (WION) which did cover some of the "hidden" aspect of Bitcoin which I feel must be shown and addressed before anyone become involved in it. Source : https://youtu.be/7PGt28X4ufU Topic : Bitcoin, Cryptocurrency and Blockchain From WION (World Is One) online news channel. The important aspects from this video can be summarized into these points : What is Crytocurrency : 1) Medium of exchange for Bitcoin. 2). Crypto means "Data Encryption". 3). Ensures security of transactions. 4). Has NO physical counterparts. What is Blockchain : 1). enables existence of Cryptocurrencies (like dollars, Yen, Ru...

Okay, time for the real messy stuff - Bitcoin. While most of you could have heard of Bitcoin, and some could even went into trading online using Bitcoins, there are still many who does not know what Bitcoin is and for them, I am writing this post on my blog for it. There maybe a second post after this, if there is enough contents, not sure yet. For this post, I believe it is best if I used a common source (likely a Youtube clip from various sources) to emphasis on the point where you can listen to the facts there as well. Let's get down with the basic introduction of what bitcoin is. Source : https://youtu.be/41JCpzvnn_0 Topic : What is Bitcoin? Youtube video from 99Bitcoins channel. All rights on that clip belongs to them. According to this website on what is a Bitcoin, this website describe it as one of the "medium of exchange" which people are using currently to based their wealth value. In the past, people had difference "objects" as medium, such as gold, si...