Read this before it’s too late — all you need to know about Bitcoin

Money

Photo by Michael Förtsch on Unsplash

I wrote this back in 2014. Bitcoin had ideal price points from 500 to 600 US dollars a piece, compared to the current price it holds at USD 82,000 per coin. You’ve probably heard about it but never really deep dived nor acted on it. What is it? How does it work? Here’s what it was for us more than a decade ago:

Originally published in Entrepreneur Philippines in 2014.

You can’t see or touch it. But you can use it to buy services and merchandise online or from brick and mortar stores, plus you can use it in multiple countries without having to exchange it in the local currency. What is it?

It’s called “bitcoin” and it’s being touted as the world currency that will revolutionize the way we use money forever.

The way it is used is fairly easy, as long as you have a smartphone. John Bailon of Satoshi Citadel Industries (SCI) heads a bootstrapped start-up that has been in the business of supporting the bitcoin ecosystem in the Philippines starting mid 2014.