The price of Bitcoin went up 800% since January 2020. We know that Bitcoin is a "cryptocurrency"....

Question

The price of Bitcoin went up 800% since January 2020.

We know that Bitcoin is a "cryptocurrency". But what is that? In this discussion, I want you to explain it to me as if I am completely unfamiliar with it. Simplify it for me, please. You can also give value judgments (is it a good thing?), or do some forecasting (will it become very popular?), but you must explain things simply.

Please do your own research, but do watch thissegmentof a John Oliver Show from two years ago.

Insha · Accepted Answer

Running Head: MANAGERIAL ACCOUNTING						1
MANAGERIAL ACCOUNTING								2
MANAGERIAL ACCOUNTING
A Bitcoin is digital money that can be delivered for free or for a small price to any location on the world over the internet (Nelms, Maurer, Swartz & Mainwaring, 2018). The block chain is a digital block of information that maintains a record of every Bitcoin transaction ever made. It is highly improbable of someone who is not the real owner of a Bitcoin would ever be able to fake it (YouTube, 2018).
The example of two 5-year-olds can be considered,

The price of Bitcoin went up 800% since January 2020. We know that Bitcoin is a "cryptocurrency". But what is that? In this discussion, I want you to explain it to me as if I am completely unfamiliar...

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