Rahul Behera | Content Director for Cryptosomniac (Cryptocurrencies)

Please note that answering your question is not a recommendation, and I am not qualified to give advice on investments. It is said that-  “   one doesn’t invest in bitcoin, one gambles on bitcoin ”. Note: Bitcoin with a capital “B” references Bitcoin the network or Bitcoin the payment system; bitcoin with a lowercase “b” references bitcoin as a currency or bitcoin the currency unit. If you are investing, does bitcoin have an intrinsic value, like gold? To me, bitcoins look more like tulip bulbs. The price of a bitcoin may increase because, for example, it is attractive to technology enthusiasts, and because we are all reading stories about how people made –or failed to make - fortunes. But, like tulip bulbs, bitcoins could be worthless when the bubble bursts. How Bitcoin gets in? Bitcoins are “mined” by people solving problems with computers. In the beginning, the best way to make money from bitcoins was to mine them with a home PC. However, bitcoin mining b...

What is Bitcoin, as if you were to explain it to a child? To a child knows what is money, it'll be easy to understand for him. It is kind of currency or money not physical but digital which flows through the internet. It is decentralized which means there is not only one body which controls the money. No middle man like bank to exchange the currency. It is created by a process called mining in which a solution of a mathematical problem is to be find while performing a transaction. Anyone in the world can join to find out the solution and if one gets the solution then gets rewarded with brand new bitcoins like money. You can see anybody's transaction in the world.