BTC in School Newspaper

[DOGE12321]

Hey guys I am planning to put some info about Bitcoin in my school’s paper. Here is the script. Please provide feedback. Thanks.

Bitcoin – A New Era

 

Have you ever wondered about a world where you could bank without banks? A world where your private transactions are public? A world where you could send transactions internationally in a peer-to-peer situation without going through a third party like a bank? It sounds crazy but that is what Satoshi Nakamoto created in the January of 2009. He created Bitcoin.

 

Bitcoins are the first decentralised digital coins that can be sent via the internet. This means that it has “no central control, no central private vault of information, no central management, and most importantly, no central point of failure”. Bitcoin is controlled by the people who use it. Everything in bitcoin is public. This is contrasted with the centralised system of third party verifications such as banks or clearing houses. Bitcoin is shaking the foundations of the society in which most people live in today. It is a new, technology that can change the world.

 

Compared to other alternatives such as fiat, which is the currency that has been approved by a government tender, bitcoin has advantages on many levels. These advantages all rely on Bitcoin’s central philosophy of decentralisation. Bitcoin proposes a form of peer to peer transactions, which means that we are ditching banks for good. In the centralised world, banks have control over transactions. They charge payment for verifying the validity of such transactions. As there are no banks in the case of Bitcoin, it means that business fees are much lower, we can use Bitcoin internationally and that your wallet can never be frozen.

 

Let’s look into how these Bitcoins work. There are many currency exchanges in which people can sell or buy Bitcoin for dollars, euros, pounds and more. Obviously, as each currency has different values, the price of Bitcoin is dependant on the currency used. All your Bitcoin are stored in your wallet on your phones, computers, the internet or other devices. Sending transactions to other accounts is as easy as handing money over the counter and anything in the world can be bought with Bitcoin. These networks of Bitcoin transactions are secured by people called miners who are rewarded with newly created Bitcoin in relation to the number of transactions verified. Now you may think that this is the same as banks, but the fact is that banks charge you for approving transactions, whereas miners are rewarded for transactions. In a sense, Bitcoin depends on transactions. Once these transactions are verified they are placed in a publicly stored Ledger called the Blockchain. Here, all the verified transactions can be viewed.

 

Bitcoins complex technology is revolutionising our current society. It will minimise fees charged by businesses, it is free to create a wallet and start using them and there are no chargebacks. All in all, Bitcoin provides advantages for everyone. To get more information visit bitcointalk.org/index.php?board=1.0 . Banking is necessary, but Banks are not.

 Waiting for feedback.

EDIT: Thank heaps guys for all your support. I didn't personally respond to each feedback because I like keeping this forum free of spam. I hope you understand. I have posted it on the school paper and my teachers have successfully accepted it into the paper. They said that it would be released into the next paper next month. Let's hope I can persuade some people to try out Bitcoin.

I am working on a second article about some more key parts regarding Bitcoin such as the Blockchain, Decentralisation...etc. I am looking for further topics that I can write about. Send me a personal message or respond with any good topics in this thread and let's spread Bitcoin. 

[bestluck]

It will be really a great support to bitcoin and with that more people will be attracted to this currency and more will get profit and other benefits from there. We all have to plan something for promoting it to everywhere around us, so that everyone adopt this currency and we use this currency with convenient around us even in offline life.

[batesresearch]

Awesome, great to get that seed planted in people's minds about Bitcoin / a decentralised monetary system!!

Where are you based? Could you send me a copy of the school paper when printed (I'll send you a fee  )

[JeffBrad12]

Hey guys I am planning to put some info about Bitcoin in my school’s paper. Here is the script. Please provide feedback. Thanks.

Bitcoin – A New Era

 

Have you ever wondered about a world where you could bank without banks? A world where your private transactions are public? A world where you could send transactions internationally in a peer-to-peer situation without going through a third party like a bank? It sounds crazy but that is what Satoshi Nakamoto created in the January of 2009. He created Bitcoin.

 

Bitcoins are the first decentralised digital coins that can be sent via the internet. This means that it has “no central control, no central private vault of information, no central management, and most importantly, no central point of failure”. Bitcoin is controlled by the people who use it. Everything in bitcoin is public. This is contrasted with the centralised system of third party verifications such as banks or clearing houses. Bitcoin is shaking the foundations of the society in which most people live in today. It is a new, technology that can change the world.

 

Compared to other alternatives such as fiat, which is the currency that has been approved by a government tender, bitcoin has advantages on many levels. These advantages all rely on Bitcoin’s central philosophy of decentralisation. Bitcoin proposes a form of peer to peer transactions, which means that we are ditching banks for good. In the centralised world, banks have control over transactions. They charge payment for verifying the validity of such transactions. As there are no banks in the case of Bitcoin, it means that business fees are much lower, we can use Bitcoin internationally and that your wallet can never be frozen.

 

Let’s look into how these Bitcoins work. There are many currency exchanges in which people can sell or buy Bitcoin for dollars, euros, pounds and more. Obviously, as each currency has different values, the price of Bitcoin is dependant on the currency used. All your Bitcoin are stored in your wallet on your phones, computers, the internet or other devices. Sending transactions to other accounts is as easy as handing money over the counter and anything in the world can be bought with Bitcoin. These networks of Bitcoin transactions are secured by people called miners who are rewarded with newly created Bitcoin in relation to the number of transactions verified. Now you may think that this is the same as banks, but the fact is that banks charge you for approving transactions, whereas miners are rewarded for transactions. In a sense, Bitcoin depends on transactions. Once these transactions are verified they are placed in a publicly stored Ledger called the Blockchain. Here, all the verified transactions can be viewed.

 

Bitcoins complex technology is revolutionising our current society. It will minimise fees charged by businesses, it is free to create a wallet and start using them and there are no chargebacks. All in all, Bitcoin provides advantages for everyone. To get more information visit bitcointalk.org/index.php?board=1.0 . Banking is necessary, but Banks are not.

 Waiting for feedback.

It's a good idea , can giving a more knowledge about the technology for them and education, but if you wanna to introducing the bitcoin into the students i think this not a good moment for that. but before sign in into newspaper school better to asking about the permission from the teacher or guide. and talking about the content in the article.

[franky1]

edited for simple reading

Bitcoin – A New Era

Have you ever wondered about a world where you could bank without banks? A world where your private transactions are public? A world where you could send transactions internationally in a peer-to-peer situation without going through a third party like a bank? It sounds crazy but that is what Satoshi Nakamoto created in the January of 2009. He created Bitcoin.

Bitcoins are the first decentralised digital value that can be sent via the internet. This means that it has "no central control, no central private vault of information, no central management, and most importantly, no central point of failure”. Bitcoin is controlled by the people who use it. Everything in bitcoin is public. This is in contrast to the centralised system of third party verifications such as banks or clearing houses. Bitcoin is shaking the foundations of the financial society in which most people live in today. It is a new financial technology that can change the world.

Compared to other alternatives such as fiat, which is the government approved legal tender, bitcoin has advantages on many levels. These advantages all rely on Bitcoin’s base philosophy of decentralisation. Bitcoin proposes a form of peer to peer transactions, which means that we can ditch banks for good. In the fiat world, centralised banks have control over transactions. They charge business fees for verifying the validity of such transactions. As there are no banks in the case of Bitcoin, it means that fees are much lower and we can use Bitcoin internationally without restrictions or borders, where your funds can never be frozen.

Let’s look into how these Bitcoins work.
initially to get bitcoin, the easiest method is to use a centralized gateway, such as someone with a bank account selling bitcoin or an exchange
There are many currency exchanges in which people can sell or buy Bitcoin for dollars, euros, pounds and more. Obviously, as each currency has different values, the price of Bitcoin is dependant on the currency used.
once you have bitcoins you can move them away from the centralized gateway so that all your Bitcoin are stored in your wallet on your phones, computers, the internet or other devices. wallets are partly a file containing private keys, which is basically a long password you need to keep safe and partly a program to utilise those private keys to send transactions
Sending transactions to others is as easy as sending an message and anything in the world can be bought with Bitcoin. These networks of Bitcoin transactions are secured by groups of people called mining pools who are rewarded with newly created Bitcoin for securing transactions. Now you may think that this is the same as banks, but the fact is that banks charge you for approving transactions, whereas miners are rewarded for securing transactions. In a sense, Bitcoin depends on transactions. Once these transactions are verified and secured in a publicly stored Ledger called the Blockchain, everyone with the main bitcoin software gets a copy to ensure it cannot be edited individually. Here, all the verified transactions can be viewed and trusted.

Bitcoins complex technology is revolutionising our current society. It will minimise fees charged by businesses, it is free to create a wallet and start using them and there are no chargebacks. All in all, Bitcoin provides advantages for everyone. To get more information visit bitcointalk.org/index.php?board=1.0 . Banking is necessary, but Banks are not.

my edits are not perfect,  i could have rewrote the whole thing. but instead i only tweaked as little as i could, to atleast be a little more accurate while remaining mostly your words.

i would however suggest you try to not highlight bitcoin based on "lower fees" and instead talk more about the lack of centralized control, due partly to the strong encryption by mining pools, and then the distribution of the ledger, which prevents individuals nefariously attempting to edit the ledger, because it doesnt match the strongly encrypted ledger everyone else has.

[ezehy2014]

Wow this is a good idea, I think I buy it i will do the same thing in my school so that I can Aldo create awareness about bitcoin even in my environment because this is lacking seriously

[plpbtc1526]

Good job for the writet(s) of that news on a school. So many people will be interested on bitcoin. Bitcoin is an interesting topic, so i guess many students will be curious and enter the world of cryptocurrency. Hope to see bitcoin topic in a news paper inthe future. It also credit to the creator of bitcoin, Satoshi Nakamoto.

[Nathanz]

Good job for the writet(s) of that news on a school. So many people will be interested on bitcoin. Bitcoin is an interesting topic, so i guess many students will be curious and enter the world of cryptocurrency. Hope to see bitcoin topic in a news paper inthe future. It also credit to the creator of bitcoin, Satoshi Nakamoto.

Yeah i agree with you bozz, this kinda brilliant idea will truly helps to some students who are belong to self supporting student, nowadays too theres many student drop by their studies due to luck of financiak support, but i student have a knowledge regarding to bitcoin Industry in which it can help to earn money then they will be more interesting to the bitcoin, so by that way they can help their self to find many ways to earn money for free without stopping their studies. They just need to set a free time after their class dismissals.

[electronicash]

A world where your private transactions are public?
i would actually change this lines if i want the message to be positive. maybe  " a world where transactions are transparent for everyone can check"
or something like that.

[rajasumi2]

Hey guys I am planning to put some info about Bitcoin in my school’s paper. Here is the script. Please provide feedback. Thanks.

Bitcoin – A New Era

 

Have you ever wondered about a world where you could bank without banks? A world where your private transactions are public? A world where you could send transactions internationally in a peer-to-peer situation without going through a third party like a bank? It sounds crazy but that is what Satoshi Nakamoto created in the January of 2009. He created Bitcoin.

 

Bitcoins are the first decentralised digital coins that can be sent via the internet. This means that it has “no central control, no central private vault of information, no central management, and most importantly, no central point of failure”. Bitcoin is controlled by the people who use it. Everything in bitcoin is public. This is contrasted with the centralised system of third party verifications such as banks or clearing houses. Bitcoin is shaking the foundations of the society in which most people live in today. It is a new, technology that can change the world.

 
 
Compared to other alternatives such as fiat, which is the currency that has been approved by a government tender, bitcoin has advantages on many levels. These advantages all rely on Bitcoin’s central philosophy of decentralisation. Bitcoin proposes a form of peer to peer transactions, which means that we are ditching banks for good. In the centralised world, banks have control over transactions. They charge payment for verifying the validity of such transactions. As there are no banks in the case of Bitcoin, it means that business fees are much lower, we can use Bitcoin internationally and that your wallet can never be frozen.

 

Let’s look into how these Bitcoins work. There are many currency exchanges in which people can sell or buy Bitcoin for dollars, euros, pounds and more. Obviously, as each currency has different values, the price of Bitcoin is dependant on the currency used. All your Bitcoin are stored in your wallet on your phones, computers, the internet or other devices. Sending transactions to other accounts is as easy as handing money over the counter and anything in the world can be bought with Bitcoin. These networks of Bitcoin transactions are secured by people called miners who are rewarded with newly created Bitcoin in relation to the number of transactions verified. Now you may think that this is the same as banks, but the fact is that banks charge you for approving transactions, whereas miners are rewarded for transactions. In a sense, Bitcoin depends on transactions. Once these transactions are verified they are placed in a publicly stored Ledger called the Blockchain. Here, all the verified transactions can be viewed.

 

Bitcoins complex technology is revolutionising our current society. It will minimise fees charged by businesses, it is free to create a wallet and start using them and there are no chargebacks. All in all, Bitcoin provides advantages for everyone. To get more information visit bitcointalk.org/index.php?board=1.0 . Banking is necessary, but Banks are not.

 Waiting for feedback.

thats great actually .after readimg this i got an idea that i will also write about bitcoins in the school magazine ..well thanks ..hope bitcoins will be the future currency..kudoos 

[livinglegend]

Good initiative, will certainly make a good effect.

[Yakamoto]

Hey guys I am planning to put some info about Bitcoin in my school’s paper. Here is the script. Please provide feedback. Thanks.

Bitcoin – A New Era

 

Have you ever wondered about a world where you could bank without banks? A world where your private transactions are public? A world where you could send transactions internationally in a peer-to-peer situation without going through a third party like a bank? It sounds crazy but that is what Satoshi Nakamoto created in the January of 2009. He created Bitcoin.

 

Bitcoins are the first decentralised digital coins that can be sent via the internet. This means that it has “no central control, no central private vault of information, no central management, and most importantly, no central point of failure”. Bitcoin is controlled by the people who use it. Everything in bitcoin is public. This is contrasted with the centralised system of third party verifications such as banks or clearing houses. Bitcoin is shaking the foundations of the society in which most people live in today. It is a new, technology that can change the world.

 

Compared to other alternatives such as fiat, which is the currency that has been approved by a government tender, bitcoin has advantages on many levels. These advantages all rely on Bitcoin’s central philosophy of decentralisation. Bitcoin proposes a form of peer to peer transactions, which means that we are ditching banks for good. In the centralised world, banks have control over transactions. They charge payment for verifying the validity of such transactions. As there are no banks in the case of Bitcoin, it means that business fees are much lower, we can use Bitcoin internationally and that your wallet can never be frozen.

 

Let’s look into how these Bitcoins work. There are many currency exchanges in which people can sell or buy Bitcoin for dollars, euros, pounds and more. Obviously, as each currency has different values, the price of Bitcoin is dependant on the currency used. All your Bitcoin are stored in your wallet on your phones, computers, the internet or other devices. Sending transactions to other accounts is as easy as handing money over the counter and anything in the world can be bought with Bitcoin. These networks of Bitcoin transactions are secured by people called miners who are rewarded with newly created Bitcoin in relation to the number of transactions verified. Now you may think that this is the same as banks, but the fact is that banks charge you for approving transactions, whereas miners are rewarded for transactions. In a sense, Bitcoin depends on transactions. Once these transactions are verified they are placed in a publicly stored Ledger called the Blockchain. Here, all the verified transactions can be viewed.

 

Bitcoins complex technology is revolutionising our current society. It will minimise fees charged by businesses, it is free to create a wallet and start using them and there are no chargebacks. All in all, Bitcoin provides advantages for everyone. To get more information visit bitcointalk.org/index.php?board=1.0 . Banking is necessary, but Banks are not.

 Waiting for feedback.

Not a bad idea, but maybe you should switch up the final link from the bitcointalk forum link to something like bitcoin.org, where it is far more newbie-friendly and will give them more factual information rather than the opinions of a ton of people on the internet. Aside from that, I'm not sure what level of education your school provides, but you might want to look into using smaller words as well. I wouldn't want to have to go and use a dictionary or look up words on the internet just to read an article. Most of it is quite good and not too advanced, but there are a few phrases or words that you might want to look at changing. I personally had no challenge reading it, though.

Pretty good article, I'm interested to see how it's received.

[justspare]

Wow that is actually very good. It is great to see that young people are getting involved with Bitcoin and want to spread it.

[bitbunnny]

Any educational initiative about Bitcoin, specialy for young generation is excellent. Just keep going that way!

[Sorrowfox]

Hey guys I am planning to put some info about Bitcoin in my school’s paper. Here is the script. Please provide feedback. Thanks.

Bitcoin – A New Era

 

Have you ever wondered about a world where you could bank without banks? A world where your private transactions are public? A world where you could send transactions internationally in a peer-to-peer situation without going through a third party like a bank? It sounds crazy but that is what Satoshi Nakamoto created in the January of 2009. He created Bitcoin.

 

Bitcoins are the first decentralised digital coins that can be sent via the internet. This means that it has “no central control, no central private vault of information, no central management, and most importantly, no central point of failure”. Bitcoin is controlled by the people who use it. Everything in bitcoin is public. This is contrasted with the centralised system of third party verifications such as banks or clearing houses. Bitcoin is shaking the foundations of the society in which most people live in today. It is a new, technology that can change the world.

 

Compared to other alternatives such as fiat, which is the currency that has been approved by a government tender, bitcoin has advantages on many levels. These advantages all rely on Bitcoin’s central philosophy of decentralisation. Bitcoin proposes a form of peer to peer transactions, which means that we are ditching banks for good. In the centralised world, banks have control over transactions. They charge payment for verifying the validity of such transactions. As there are no banks in the case of Bitcoin, it means that business fees are much lower, we can use Bitcoin internationally and that your wallet can never be frozen.

 

Let’s look into how these Bitcoins work. There are many currency exchanges in which people can sell or buy Bitcoin for dollars, euros, pounds and more. Obviously, as each currency has different values, the price of Bitcoin is dependant on the currency used. All your Bitcoin are stored in your wallet on your phones, computers, the internet or other devices. Sending transactions to other accounts is as easy as handing money over the counter and anything in the world can be bought with Bitcoin. These networks of Bitcoin transactions are secured by people called miners who are rewarded with newly created Bitcoin in relation to the number of transactions verified. Now you may think that this is the same as banks, but the fact is that banks charge you for approving transactions, whereas miners are rewarded for transactions. In a sense, Bitcoin depends on transactions. Once these transactions are verified they are placed in a publicly stored Ledger called the Blockchain. Here, all the verified transactions can be viewed.

 

Bitcoins complex technology is revolutionising our current society. It will minimise fees charged by businesses, it is free to create a wallet and start using them and there are no chargebacks. All in all, Bitcoin provides advantages for everyone. To get more information visit bitcointalk.org/index.php?board=1.0 . Banking is necessary, but Banks are not.

 Waiting for feedback.

I think it would be better if you will cite the advantages and also the disadvantages of using bitcoins so the readers will also be aware about the consequences of using bitcoin. So just in case they decided to use it they will be prepared and ready for whatever may happen. You can also include in your article the ways on how to earn bitcoin .

[ruselbd]

Yes  this is a smart thought, I think I purchase it i will do likewise in my school so I can Aldo make mindfulness about bitcoin even in my surroundings since this is missing truly

[ethereumhunter]

Hey guys I am planning to put some info about Bitcoin in my school’s paper. Here is the script. Please provide feedback. Thanks.

Bitcoin – A New Era

 

Have you ever wondered about a world where you could bank without banks? A world where your private transactions are public? A world where you could send transactions internationally in a peer-to-peer situation without going through a third party like a bank? It sounds crazy but that is what Satoshi Nakamoto created in the January of 2009. He created Bitcoin.

 

Bitcoins are the first decentralised digital coins that can be sent via the internet. This means that it has “no central control, no central private vault of information, no central management, and most importantly, no central point of failure”. Bitcoin is controlled by the people who use it. Everything in bitcoin is public. This is contrasted with the centralised system of third party verifications such as banks or clearing houses. Bitcoin is shaking the foundations of the society in which most people live in today. It is a new, technology that can change the world.

 

Compared to other alternatives such as fiat, which is the currency that has been approved by a government tender, bitcoin has advantages on many levels. These advantages all rely on Bitcoin’s central philosophy of decentralisation. Bitcoin proposes a form of peer to peer transactions, which means that we are ditching banks for good. In the centralised world, banks have control over transactions. They charge payment for verifying the validity of such transactions. As there are no banks in the case of Bitcoin, it means that business fees are much lower, we can use Bitcoin internationally and that your wallet can never be frozen.

 

Let’s look into how these Bitcoins work. There are many currency exchanges in which people can sell or buy Bitcoin for dollars, euros, pounds and more. Obviously, as each currency has different values, the price of Bitcoin is dependant on the currency used. All your Bitcoin are stored in your wallet on your phones, computers, the internet or other devices. Sending transactions to other accounts is as easy as handing money over the counter and anything in the world can be bought with Bitcoin. These networks of Bitcoin transactions are secured by people called miners who are rewarded with newly created Bitcoin in relation to the number of transactions verified. Now you may think that this is the same as banks, but the fact is that banks charge you for approving transactions, whereas miners are rewarded for transactions. In a sense, Bitcoin depends on transactions. Once these transactions are verified they are placed in a publicly stored Ledger called the Blockchain. Here, all the verified transactions can be viewed.

 

Bitcoins complex technology is revolutionising our current society. It will minimise fees charged by businesses, it is free to create a wallet and start using them and there are no chargebacks. All in all, Bitcoin provides advantages for everyone. To get more information visit bitcointalk.org/index.php?board=1.0 . Banking is necessary, but Banks are not.

 Waiting for feedback.

i think your idea about bitcoin info is good idea, this can be another way to introduce bitcoin to public and then people will know what is bitcoin and can learn by doing. this will make curiosity for people about bitcoin. don't forget to add your email or your contact so they can directly ask to you about what they want to ask and you can help by explaining to them.

good job bro, i am supporting you by here, i wish you get success.

[davis196]

Hey guys I am planning to put some info about Bitcoin in my school’s paper. Here is the script. Please provide feedback. Thanks.

Bitcoin – A New Era

 

Have you ever wondered about a world where you could bank without banks? A world where your private transactions are public? A world where you could send transactions internationally in a peer-to-peer situation without going through a third party like a bank? It sounds crazy but that is what Satoshi Nakamoto created in the January of 2009. He created Bitcoin.

 

Bitcoins are the first decentralised digital coins that can be sent via the internet. This means that it has “no central control, no central private vault of information, no central management, and most importantly, no central point of failure”. Bitcoin is controlled by the people who use it. Everything in bitcoin is public. This is contrasted with the centralised system of third party verifications such as banks or clearing houses. Bitcoin is shaking the foundations of the society in which most people live in today. It is a new, technology that can change the world.

 

Compared to other alternatives such as fiat, which is the currency that has been approved by a government tender, bitcoin has advantages on many levels. These advantages all rely on Bitcoin’s central philosophy of decentralisation. Bitcoin proposes a form of peer to peer transactions, which means that we are ditching banks for good. In the centralised world, banks have control over transactions. They charge payment for verifying the validity of such transactions. As there are no banks in the case of Bitcoin, it means that business fees are much lower, we can use Bitcoin internationally and that your wallet can never be frozen.

 

Let’s look into how these Bitcoins work. There are many currency exchanges in which people can sell or buy Bitcoin for dollars, euros, pounds and more. Obviously, as each currency has different values, the price of Bitcoin is dependant on the currency used. All your Bitcoin are stored in your wallet on your phones, computers, the internet or other devices. Sending transactions to other accounts is as easy as handing money over the counter and anything in the world can be bought with Bitcoin. These networks of Bitcoin transactions are secured by people called miners who are rewarded with newly created Bitcoin in relation to the number of transactions verified. Now you may think that this is the same as banks, but the fact is that banks charge you for approving transactions, whereas miners are rewarded for transactions. In a sense, Bitcoin depends on transactions. Once these transactions are verified they are placed in a publicly stored Ledger called the Blockchain. Here, all the verified transactions can be viewed.

 

Bitcoins complex technology is revolutionising our current society. It will minimise fees charged by businesses, it is free to create a wallet and start using them and there are no chargebacks. All in all, Bitcoin provides advantages for everyone. To get more information visit bitcointalk.org/index.php?board=1.0 . Banking is necessary, but Banks are not.

 Waiting for feedback.

The kids should know more about bitcoin and the cryptocurrencies.Very good idea.

I`m not sure that they will understand everything but we have to try and explain the technology.

Good work,dude.

[rphk]

Hey guys I am planning to put some info about Bitcoin in my school’s paper. Here is the script. Please provide feedback. Thanks.

Bitcoin – A New Era

 

Have you ever wondered about a world where you could bank without banks? A world where your private transactions are public? A world where you could send transactions internationally in a peer-to-peer situation without going through a third party like a bank? It sounds crazy but that is what Satoshi Nakamoto created in the January of 2009. He created Bitcoin.

 

Bitcoins are the first decentralised digital coins that can be sent via the internet. This means that it has “no central control, no central private vault of information, no central management, and most importantly, no central point of failure”. Bitcoin is controlled by the people who use it. Everything in bitcoin is public. This is contrasted with the centralised system of third party verifications such as banks or clearing houses. Bitcoin is shaking the foundations of the society in which most people live in today. It is a new, technology that can change the world.

 

Compared to other alternatives such as fiat, which is the currency that has been approved by a government tender, bitcoin has advantages on many levels. These advantages all rely on Bitcoin’s central philosophy of decentralisation. Bitcoin proposes a form of peer to peer transactions, which means that we are ditching banks for good. In the centralised world, banks have control over transactions. They charge payment for verifying the validity of such transactions. As there are no banks in the case of Bitcoin, it means that business fees are much lower, we can use Bitcoin internationally and that your wallet can never be frozen.

 

Let’s look into how these Bitcoins work. There are many currency exchanges in which people can sell or buy Bitcoin for dollars, euros, pounds and more. Obviously, as each currency has different values, the price of Bitcoin is dependant on the currency used. All your Bitcoin are stored in your wallet on your phones, computers, the internet or other devices. Sending transactions to other accounts is as easy as handing money over the counter and anything in the world can be bought with Bitcoin. These networks of Bitcoin transactions are secured by people called miners who are rewarded with newly created Bitcoin in relation to the number of transactions verified. Now you may think that this is the same as banks, but the fact is that banks charge you for approving transactions, whereas miners are rewarded for transactions. In a sense, Bitcoin depends on transactions. Once these transactions are verified they are placed in a publicly stored Ledger called the Blockchain. Here, all the verified transactions can be viewed.

 

Bitcoins complex technology is revolutionising our current society. It will minimise fees charged by businesses, it is free to create a wallet and start using them and there are no chargebacks. All in all, Bitcoin provides advantages for everyone. To get more information visit bitcointalk.org/index.php?board=1.0 . Banking is necessary, but Banks are not.

 Waiting for feedback.

Really nice Article script , it helps children or whoever those new to bitcoin  to understand easily about new technology like bitcoin . an  excellent script , keep it up

[Dudeperfect]

Amazing summary of what bitcoin is all about. I would like to ask for your permission to translate this in Hindi language. I have seen people who are actually scared away when they read something complicated, we should really promote bitcoin in such user friendly language which will help to grow user base and our great community. When people read about it in initial stage (of them) actually they start assuming instead of finding further information so the introduction must be in self explanatory form. Kudos again.