The above cheatsheet/infographic is a explanation of how bitcoins work in general. If you read through this long and still don’t understand what it all means, don’t worry you are not alone. But as technology (and money) evolves we could see the bitcoin phenomenal becoming a part of lives. Well the good news is if you have bought or collected 1,000 bitcoins since it first launched in 2009, well done you are now a millionaire. Yes, a single bitcoin costs S$1170 now as we are writing this.
Why are we writing this? Because in the very near future, we might all just be using bitcoins to pay for stuff such as shopping online. Can it go mainstream and become a global currency? Nobody knows yet but it is highly possible. Here’s another video just to make everything about bitcoins that much more
confusing enlightening. ;)