The problem with being a book-hoarder is that you never quite know exactly what you have on your shelves.
Bitcoins are virtual money that are designed in 2009 which have the self-contained value of money they need not to be stored in bank. They can be store online (internet, cloud) which is meant to be hot storage and it is not 100% safe to store them online as they may lead to loss or theft may happen so it is better to store them offline using pen drive, hard disk, CD and memory card this type of storage is called cold storage.
Once a person owns the bitcoin they act as gold coins. You can use bitcoins for purchasing goods and some services online or you can store them in hope that the value increases over years. These coins are forgery resistant as they are created by signals of computer which are unique and they cannot be manipulated. The value of bitcoin changes every day and to know value you can visit various sites for example coin desk. The person who is making investments or buying bitcoins are called miners. The process of tracking transactions, verifying and adding them to public ledger is called bitcoin mining. This data ledger is called block chain. This block chain is unique to each user and to their bitcoin wallet. People cannot find other person’s identity easily but can see the history of bitcoin wallet.
There are no ongoing bank fees to use bitcoin as there are no banks involved but small amount of fee will be charged to pay them to network supporters.
I have no idea when I picked up this elementary reader Seven Is Magic, but I’ve been waiting to use it for school for Juliet. She’s seven now, so what better time than this year? 🙂
It’s actually probably a little bit below her reading level, but I think she’ll still have fun with it.