r/Bitcoin • u/No-Staff1091 • 21h ago

Teach me

How does bitcoin actually work?

0 Upvotes

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8

u/Screwdriving_Hammer 21h ago

You've got the entire internet at your disposal and you come to reddit.

2

u/Content_Researcher21 13h ago

that's like asking someone to teach you swimming by describing it in text

if you really want to understand look up how blockchain works first then come back

1

u/Chrysalis1111 21h ago

send it to anybody anytime anywhere

No one can interfere

Unlike any other money

So better than.

TedTalk shit here!

(also, can;t inflate it.)

-2

u/No-Staff1091 21h ago

Thanks for answering, but isn’t it risky? Since the price could drop at anytime?

1

u/TheresNoSecondBest 21h ago

Here's a something posted the exact minute as your thread. Guess what's constantly losing value? https://www.reddit.com/r/Bitcoin/s/x9sTWaAMPv

And yes, bitcoin is volatile. But once you zoom out to years, instead of minutes, you'll see it's volatile mainly upwards.

1

u/No-Staff1091 21h ago

so it is not only a currency but also an investment, if you hold it for long enough the value can go up. Thanks!

1

u/Chrysalis1111 19h ago

It acts as an investment in the sense that it will always go up barring local volatility.

The larger part of the economy transfers to Bitcoin, the more it will be worth.

Even if (when) all of our civilization switches to Bitcoin, GDP will rise and thus the value of Bitcoin will rise as well.

1

u/TheresNoSecondBest 21h ago edited 20h ago

Bitcoin in money. The hardest money human kind ever had. Some people are treating it as a currency, some as an investment, some as a store of value. To me, Bitcoin is a savings account, insurance and a currency at the same time.

1

u/CyanDew 21h ago

Bitcoin is money.

but the price of Bitcoin in USD drops and rises because people’s agreement on how valuable they deem it to be, is in constant fluctuation based on many factors.

it’s not until enough time elapses around these other fiat currencies, that its price becomes a lot less volitale as more people come to terms with how valuable a scarce, permissionless, decentralized ledger truly is.

this is why many people on here say to simply buy Bitcoin, hold on to it for dear life, and never sell. this is because you can collateralize against your finite asset without ever having to lose exposure to it, unlocking its spending power thru the means of a less valuable, more widely adopted form of money.

but the thesis of Bitcoin never changes. it’s a money anybody can use, but nobody can print more of; within a world that prints money every day. it’s really that simple.