Bitcoin, we hear about it everywhere, but the concept of this virtual currency was still a little vague. Of course, we wanted to know more about this probable motto of the future! Should we start? Is it reserved for geeks? 5 things to know before you start!
Initially, we panicked a bit. It seems very complicated bitcoins. A story of crypto-currency, algorithm and electronic tokens sent to the Internet in peer-to-peer imagined by a mysterious developer (or group of developers) responding to the pseudonym of Satoshi Nakamoto. Ouh la. After various readings, we tried to clear the ground and to explain as simply as possible what a Bitcoin is, what's the point and if you have to embark on the adventure!

What's this ?
Bitcoin is a new payment system, a new currency such as the euro, the dollar or gold. This new form of money is virtual and can be assimilated to cash on the Internet. The only difference with other currencies, money passes from person to person directly without going through a bank or any state institution. For Christophe Beaux, director of the currency of Paris interviewed by the Echos, this currency used by people can be compared to the people of a village who would have decided to use their Monopoly notes.

How it works ?
With the help of an application on his smartphone (multibi, bitcoinwallet ...) or software on his computer, we create a virtual wallet in which we store his Bitcoins. They can be bought and sold on trading platforms.

What can I buy with Bitcoins?
There are some websites or shops that accept them and you can buy video games, books ... You can also exchange them for money (euros, dollars ...)

A priori, nothing prevents you from buying a Porsche or anything with Bitcoin, as long as the owner agrees!

> List of sites that accept Bitcoins

How is the price of Bitcoins determined?

By supply and demand. The more requests, the higher the price. The price is very volatile but millions of dollars are exchanged every month via bitcoins. Currently, 12 million bitcoins are in circulation and there will be 21 million bitcoins created and not one more. The course of Bitcoin reached its peak in December 2013 with a value of 1000 dollars! Since then, it is losing value.

Should I buy bitcoins?

The advantage of Bitcoins lies in the fact that international transfers are quick and inexpensive. However, the Banque de France and the European Central Bank warn against the adverse effects of a non-system currency that has no legal tender. Notably because there is no recourse when users suffer losses, announced the European Banking Authority.

However, a young Norwegian Kristoffer Kosh who had bought the equivalent of 150 kroner in Bitcoins (about 18.6 euros or 25 Canadian dollars) four years ago has multiplied by about 33,000 his "stake" starting by reselling them to 620 000 euros. Like what there is no rule! Aside from being in the right place at the right time!

If Bitcoin could have been a very profitable investment, it remains a highly speculative investment. Nobody can predict the fate of the Bitcoin experience, as it is innovative and unprecedented, so it is strongly recommended to invest only what we can afford to lose. If you have them, it's better to spend them than to keep them thinking you're doing something.