RE: Bitcoin explained in plain English

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Bitcoin explained in plain English

in bitcoin •  7 years ago 

Thanks to this post of yours I now understand how bitcoin works. However, I have a few questions. Firstly, if only 21 million bitcoins were made, I suppose its value would depend on demand and supply. So, bitcoin owners will be able to sell their bitcoins for more than they have paid for it? If this is the case, 21 million may at the end of the day belong to only a few. Or am I wrong? Secondly, how and where does one buy bitcoins? Thirdly, what if the seller of goods doesn't accept bitcoins as payment? How many businesses accept bitcoins instead of money?

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Hi @martiecoetser lol so many questions. I must write a few blogs to answer them all. Quick answer.
Check out Bitcoin stats you'll be both shocked and amazed.
Welcome to steemit lol
Good to see you are checking out the website before blogging. Very sensible to gauge the audience potential.