Bitcoin with Bruening | Offit Kurman

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Common Criticisms: Isn’t Bitcoin Backed by Nothing?

February 4, 2020 | Share:

The word Bitcoin above an arrow point up and the Money symbol above an arrow pointing down

I frequently have people tell me that “Bitcoin is based on nothing! It’s not backed by anything! Its value is…

Bitcoin Basics: What is the Blockchain and How Are Bitcoins Transferred?

February 3, 2020 | Share:

Man holding phone with picture of a bitcoin on it, holding phone over a laptop

Last week we discussed bitcoin mining. The blockchain is where the miners and users come together. In short, the blockchain…

Bitcoin Basics: What Are Miners and How is Bitcoin Created?

February 2, 2020 | Share:

Picture of a gold bitcoin being inserter in a coin sleeve

Bitcoins are created by “miners,” i.e. computers running specialized computations. Simply put, if an owner of such a computer runs…

Bitcoin Basics: What is the Difference Between Bitcoin and Other Online Payment Systems?

February 1, 2020 | Share:

Picture of gold coins called Bitcoins

There are plenty of online payment systems these days – Venmo, PayPal, stripe, amazon pay… How is bitcoin different? The…