In the last few years, an interesting alternative to paper currency has risen in the form of Bitcoin. I started paying attention to Bitcoin two years ago, and have owned some ever since. I’ve purchased physical and digital goods with it, as well as traded it for cash. It’s particularly intriguing to me because it maintains the core properties of economic models while creating a system of inflation guided by encryption algorithms rather than humans. And it’s grown in huge popularity over that time, with a net worldwide worth of over $750 million USD at the time of this writing.

Many people have asked me about Bitcoin, so here’s a basic introduction to what Bitcoin is and how it works.

Note: I am neither a lawyer nor an accountant. This should not be construed as legal or financial advice. If you use the information in this post, you agree that it is at your own risk.

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