Explained in 5 Minutes: Bitcoin

The layman’s guide to Bitcoin and the Blockchain.

Photo by Thought Catalog on Unsplash

The one thing that makes economics hard to understand is that there is no such thing as money. Money is just an item for trade — valuable paper, or a valuable transaction. Nothing actually has a fixed or defined concrete value. Value is a completely abstract idea. A five dollar bill is literally just a piece of green paper…