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The Consumer Handbook (2014)

 

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Bitcoin: Virtual Crypto Currencies Basics

December 9, 2013 by Great Northern Prepper

There has been a lot of talk in the past year about “Bitcoin” and other virtual crypto currencies, LiteCoin being another, many people who are used to just working and putting a little into their 401k or other retirement are barely familiar with how the U.S. Dollar functions, and are stumped by what a “Bitcoin” really is.
Below I will explain…
What is Bitcoin and other Virtual Crypto currencies?
How do they work?
How do people use them?
Why does the government fear them?
Why are some government embracing them and others not?
What is the future of these currencies.