What Is The Value Of 1 Bitcoin?

Bitcoin has value because everyone accepts it, right? Who are all these people who accept bitcoin? How do they guarantee this bitcoin they accept isn’t being stolen or embezzled away by someone else? It turns out the mysterious folks of the internet that accept bitcoin are called “miners.” Miners like to produce new bitcoins by using complex mathematical equations. They solve these equations with millions of random guesses per second in order to predict what will happen next on a computer screen (just like Sudoku). If their guess is high enough on the winner list, they get paid in bitcoins! This is how new bitcoins come into existence every 10 minutes. But who accepts them?! There are many places where people can get money, but rarely can you find anyone accepting bitcoin. That’s because no one trusts that nobody will steal it while it sits undistributed. Some merchants might let you purchase some food or gifts with them without requiring any form of payment at all, which would be cheap and simple if there was some way to reliably transfer your digital dollars/pounds/euros balances back home again after purchasing things.*

To further complicate things for merchants everywhere, there are tons of other ways to pay with crypto coins besides just exchanging actual cash for coins… so if you buy Bitcoins online with cash on an exchange site instead of buying them on coinbase directly, then the coins sit somewhere banked on your computer as long as you don’