You will also discover how the Bitcoin process works, so that you can get your own wallet started. From downloading the software, to obtaining and using an address, you will discover all there is to know about Bitcoin and digital currency.
Genre: BUSINESS & ECONOMICS / FinanceThis book is currently doing well on all online platforms.
Introduction
The emergence of digital currency has caused some disruption in the financial world, especially relating to the future of entire economies. Yet to the average person, the whole idea of a virtual currency existing only over the internet seems implausible. After all, if something doesn’t exist in the form of physical coins or notes, how can it possibly be considered real currency?
What most people overlook is the money they spend from their own regular banking accounts on a daily basis also only exists on their bank’s computer systems. Your salary might be credited directly into your bank, where the figure available is shown as a set of digital numbers. Likewise, the money you borrow from your bank for a mortgage or personal loan is actually a set of digital figures transacted from your account to the seller’s account on a virtual system.
Believe it or not, this type of ‘virtual’ banking has been prevailing since the rapid rise of the fractional banking system several centuries ago. Think about it: does every bank in the world actually carry the amount of cash required to pay all of its depositors if they all stormed in on the same day and demanded their money?
Of course not. Banks carry only a small percentage of the actual amounts required for withdrawals. However, banks are able to lend money based on funds created using the virtual fractional banking system.
As the fractional banking system has been around for a few centuries now, nobody really blinks an eye at the idea of virtual currency in those terms.
Yet when you introduce them to the idea of virtual digital currency, a new level of skepticism emerges.
Are You Already Using Digital Transactions?
| Language | Status |
|---|---|
|
Afrikaans
|
Already translated.
Translated by Zelna Naude
|
|
French
|
Already translated.
Translated by Mohammad Mostafa
|
|
German
|
Already translated.
Translated by Vanessa Jentzsch
|
|
|
Author review: Highly recommended. |
|
Italian
|
Already translated.
Translated by Valeria Ciccotti
|
|
|
Author review: Excellent. Highly recommended! |
|
Portuguese
|
Already translated.
Translated by Lygia Decker
|
|
Spanish
|
Already translated.
Translated by Adriana Rojas
|
|
|
Author review: Great as always. |
