I would like to create this page, describing bitcoin in an easy manner.
Confusion : how the Money is valued
The introduction is not upfront enough as to how Bitcoins get their value and why people are prepared to except them as money.ie We need on overview of the introduction to explain this without the explainations as to how they are created and cannot be duplicated. I gather what happens is that as long as there are enough people with things to sell and willing buyers then the money then gets its value due to its expanding usage.That is someone who has sold something can then turn around and buy something else with a bitcoin. Is that right? And since the coins themselves are made scare by the design of their creation(time and energy) and their intrinsic unforgability (due to the mathematics) they then can be traded with confidence.Yes?
What's an EFT?
--Jepo ( ) 04:17, 25 October 2012 (GMT)