What Are Cryptocurrencies: A Brief History of Bitcoin
In the realm of economics, there are plenty of terms that might confuse the layperson, but most of us probably know what the word "money" means. "Cryptocurrency," by contrast, can be baffling. It's money, but not government-backed money? It gets mined almost magically by a process that does nothing else of value? How does that work?
Given the level of investor interest in cryptocurrencies, for this episode of Motley Fool Answers, Alison Southwick and Robert Brokamp brought in Motley Fool analyst Aaron Bush to give their listeners the lowdown. In this segment, he takes us back to the beginning of bitcoin, in 2008, when the mysterious Satoshi Nakamoto turned blockchain technology -- yes, he'll explain that, too -- into a way of safely storing and transferring value.
A full transcript follows the video.
Source: Fool.com