– [Narrator] Most of us think about money as colorful paper rectangles, like cash. But the truth is money
is constantly evolving. We used to trade chickens and cows to pay for goods and services. Then came durable gold coins which were followed by the
paper currency we use today. But the thing is our money is controlled by banks and governments. On the surface that works just fine but there are some issues with this system that give you less control over your money than you might think. Since our money is just paper, governments can devalue it by printing infinitely more and more cash, making each dollar you own
worth less or even worthless. And though banks might seem safe, the 2008 financial crisis showed us just how risky the system can be. The bottom line is when
your money's in the bank it's not really yours. Enter Bitcoin, a new kind of
money that's entirely digital and doesn't need any
central authority to work.
Instead Bitcoins are transferred
directly between people without going through a bank
or third party of any kind. State of the art cryptography
secures the system which means your money is
controlled by you and only you. Individuals around the world called miners review and validate transactions making fraud virtually impossible. The end goal? An open financial system
that allows anyone anywhere to participate in our global economy.
Here's why Bitcoin is up to the task. It's scarce. Only 21 million will ever exist. It's fast and cheap to use. And it's global, you can use it anywhere. With Bitcoin, sending
money across the world is no more expensive or time consuming than sending money to
your next door neighbor. If you have online access,
you can use Bitcoin. The internet reinvented the
way we share information, making it global, instant,
and accessible to all. In the same way, Bitcoin is
reinventing money itself, inspiring innovation and transforming our global economy as we know it. Want to learn more? Join us at Goodbit101.com.
