Really Dumb



Bitcoin is a form of digital money that you can use to buy things online. It is like having cash in your pocket, except it is on the internet. It is like a virtual version of dollars or euros. To use Bitcoin, you need to have a “wallet” which is like an online bank account, but it is not connected to a bank. Instead, it is connected to the Bitcoin network, which is a global system of computers that keep track of Bitcoin transactions. When you buy something with Bitcoin, the transaction is recorded on the Bitcoin network and all the computers on the network make sure that the transaction is secure. One fun fact about Bitcoin is that it was created in 2009 by an anonymous person who goes by the name of Satoshi Nakamoto. Nobody knows who this person is, but they are the inventor of Bitcoin! Statistics show that the amount of people using Bitcoin is growing rapidly. In 2018, there were over 10 million Bitcoin users, and that number is expected to double by 2020. An easy way to think about Bitcoin is to imagine it as a type of digital gold. Just like gold, it is not controlled by any government or bank, and it is limited in supply. That means that the value of Bitcoin can go up or down depending on the demand for it.