Many people find Bitcoin very confusing when Bitcoin is something that is actually very simple and easy to understand, not as you might imagine. This learning series aims to help everyone to understand the basics about Bitcoin, and over time, we will provide learning opportunities for those who want to know more.
Bitcoin is usually explained by comparing Bitcoin itself with something we already know, but it will make you more confused. Bitcoin is a new technology we've never seen before, so a better way is to look at Bitcoin as a combination of different things that we know:
First, because Bitcoin makes it easy for you to move money, Bitcoin is a payment system, just like a bank transfer or credit card method, but Bitcoin is a bit better.
Secondly, Bitcoin is like gold - this is why many people refer to Bitcoin as 'digital gold' or 'Gold 2.0'. Imagine Bitcoin as gold that serves as money, but Bitcoin is very easy to transfer (transferable).
Thirdly, Bitcoin resembles the Internet because no one person or entity controls it, so anyone can use it as they wish. This is a very unique characteristic.
These three characteristics support each other, and unite in such a way. In-depth details will be explained in the next section. For now, imagine what happens if you put a large pot and throw a credit card, a piece of gold, and a little 'internet' into it - putting it all together - to bring out something new - Bitcoin!