Bitcoin has reached skyrocketing popularity recently. TV talks about it emphasizing on the cryptocurrency rate, Internet bloggers dedicate articles to this digital currency, and business publications shed light on its nature. However, bitcoin remains a mystery for some of us.

Adults tend to show a skeptic attitude towards the phenomenon which roots are not clear at all. Crypto industry is one of the most complicated topics our parents and grandparents face. What is more, not all young people have a notion of bitcoin notwithstanding the continuous Internet access. So, how to explain the notion of bitcoin in layman’s terms?

Steps to simply and quickly throw light on bitcoin

1. Take physical money for a basic notion
We all understand what physical money is. It can be carried in a wallet and then exchanged for any kind of products and services. Even small children understand it. Everybody knows that money is tangible and can be brought to the shop so it has value.

2. Show similarities with online banking and cards
In fact, the majority of our transactions is conducted by means of e-money. It can be seen on the webpage of your online banking account or on an ATM’ display. Where is e-cash stored? It’s not like a wallet with e-money you can withdraw, give somebody of pay with. As a matter of fact, all our electronic money is stored in IT systems of commercial banks.

3. We already use e-cash
E-cash is only a number on a bank’s computer attached to your account id.

4. Banks are a chain of intermediaries
Banks serve intermediaries that manage an account with e-money. Therefore, by carrying out an e-payment, we in fact allow a bank to conduct it. Then, there appears a record in a bank’s system claiming it does not deal with your id money anymore, and banking accounts of a third party can now be connected to a receiver’s account. To put it simply, we often buy or pay for something not knowing a receiver and in fact send them anything. It’s a bank that is responsible for the whole process charging relevant commission.

5. Bitcoin eliminates intermediaries
Bitcoin is money we know well. The difference lies in the absence of third parties, which merely eliminates commission. Besides, bitcoin can be used as shares. Its price may fluctuate depending on various aspects. Many people even earn on bitcoin by buying it cheaper and then selling for a higher price.

The notion of mining

A logical question may cross the mind: where to find bitcoins? It’s hard to explain that money can be mined, not made. However, try to liken this process to mining of high-valued minerals. The nuance is that here you need a powerful PC, not a shovel or a pickaxe.

Where to park bitcoin
Bitcoin has grown very popular across the globe. Many companies in the countries with legalized bitcoin have already presented an opportunity to pay for their products through digital money, not only physical or electronic. You can exchange bitcoin for a certain product or even purchase real estate. Remember to follow the exchange since it is unstable and fluctuates all the time. It is called volatility.

The online publication Login Casino created a short video describing its phenomenon in layman’s terms for those who have no notion of digital economy. Click here to watch the video: https://www.youtube.com/watch?v=49eb9gq0vbg&amp=&t=9s&nbsp

Bitcoin Marathon. Marathon from A to Z, organized by the online magazine Login Casino, has come to an end. Over the past few weeks, the leading experts in the cryptoindustry were highlighting the most relevant topics connected with cryptocurrency.

The speakers of our bitcoin marathon were: Maksym Krupyshev, head of game customer service at Cubits, Andrey Ivanov, blockchain projects security development manager at Digital Security, Kristina Kost, founder of the news resource LOFFL.RU, reporting on the world of cryptocurrency and blockchain, and others experts.

The way it happened: https://www.youtube.com/watch?v=mrzX9xyC2HI

The speakers used plain language to tell our participants about what bitcoin and cryptocurrency actually are, what its role in our life is, how and in which spheres it can be applied, what the work with bitcoin should be started with, and which projects are worth being invested in. The experts gave some useful advice concerning the issue of securing your savings, reviewed the major cases, connected with crypto thefts, and shared the secrets of blockchain and ICO project promotion.

Maksym Krupyshev shared his view on what bitcoin is.

“Criptocurrency and fiat currency can work in synergy. Fiat money belongs to the state, and it will be very hard for the state not to have any control over money transactions”, believes Maksym.

Andrey Ivanov, in turn, raised the issue of blockchain project security: “There has been a lot of ICO lately on the market. Some of them are successful, but some are not. As soon as ready money begin to appear there, it starts to be of interest to perpetrators”.

However, if you did not manage to take part in the event during a live broadcast, you can always watch the archive recording in the Login Casino «Library», having authorized yourself on the website.

“We’ve been thinking for a long time over how to help our readers (and now viewers as well) get the access to the broadcast they are interested in anytime, since not everyone can enter the landing during the live broadcast. So, what we came up with was an idea to create a specific Login Casino library – an archive, where all the broadcasts will be stored, and anyone will be able to get an access to them anytime”, told Login Casino.

Login Casino continues its bitcoin-marathon – a series of online conferences devoted to cryptoindustry. The guest of the next webinar, which is going to be held as a part of the bitcoin-marathon, will be Christina Kost. The topic of the webinar is “Trends and prospects of bitcoin in 2018”.

Christina Kost is the creator of the news recourse LOFFL.RU, which is aimed at covering the main events in the world of cryptocurrency and blockchain. Besides, she is the founder of the biggest cryptocurrency blockchain-community CryptoCon in Saint Petersburg.

The speaker is an expert council member of the working party on digital economy to the State Duma of the Russian Federation, and she is also an expert council member in the first blockchain-coworking in Russia – B-CH coworking. She is an organizer of the events devoted to the blockchain industry and an expert in the spheres of ICO and digital economy.

Christina gives her tips for the beginners in ICO: “The first thing to do is to present your project in a proper way, to gather all the market information and then – develop the ways of carrying out ICO, communicate with the experts and companies, which are already in this business”.

Don’t miss the live-webinar with our expert! The broadcast will be on April 10, 2018 at 16:00 here.