What Is Bitcoin
Last night my son walked into my office and said, hey dad did you know that the bitcoin value went over $1000.00 today? it’s all over the internet.
What is bitcoin? I asked. At the beginning of the conversation i almost regret asking the question.
He kept going on an on explaining what is bitcoin, how did bitcoin started, how to mine bitcoin, how to exchange bitcoin, and how to use bitcoin wallet.
I came across it over two years ago when bitcoin value was just $10.00, now it’s over $1000.00 he said.
Knowing that my son is deeply into video games, I though he was talking about one of his games and how the players go bitcoin mining. Then use the earn bitcoins to exchange items with other players, or there might be bitcoin exchange market “store” that the players can exchange bitcoins with game items.
He noticed that I was not really interested in what is bitcoin, and he knew that I assumed that he it talking about video games.
For the past month you were searching and reading about binary options trading he said. Just take a minute and search Google for what is bitcoin and you will see what am talking about.
To get him to stop talking, I promised that I will search Google for what is bitcoin when i get some time.
Before searching for what is bitcoin, I figured let me check with Google keyword planner to see the average search for some of the word my son through at me like “Bitcoins”,”What is bitcoin”,”Bitcoin mining”,”Bitcoin exchange” and “bitcoin charts”.
What is bitcoin search results.
The results were unbelievable, Take a look at the average monthly search.
- Bitcoin 1,220,000
- Bitcoins 165,000
- What is bitcoin 22,200
- Bitcoin mining 110,000
- Bitcoin exchange 49,500
- Bitcoin charts 49,500
These numbers are actual monthly searches, which means that 1.2 million people enter the word “bitcoin” in google search, and 22,200 people enter the phrase “what is bitcoin” every month.
After seeing these number I was convinced that bitcoin had nothing to do with video games and it’s time to really find what is bitcoin is all about.
What is bitcoin?
Bitcoin is the true 21st century digital currency, it was created by Satoshi Nakamoto back in 2001. Completely based on open source software and the point to point “P2P” network protocol.
The good thing about bitcoins is they don’t have a central authority or issuers, like banks or government entities. Bitcoins are created by a process known as Bitcoin mining. Were you use your computer CPU power to do bitcoin mining for you.
Maybe i will let the video explains what is bitcoin.