For many individual’s bitcoin feels like a plot twist in a very confusing movie, this is according to the comedian. It is until the end is where a few will finally understand what it is, but some will still be left in the dark on what this new trend truly is about. Let’s us not leave you in the dark read on and see how Ellen explains this plot twist to all of us.
The Explanation of Bitcoin By Ellen
Everyone is talking about Bitcoin, but very few understand what this new hot topic is all about. So she says let us pretend this bitcoin is like a goat. An adorable goat that you probably want to pick up and pet it a little, but this is not possible because in actual sense it is not there.
The goat only exists on the internet; this is how bitcoin works; it is a digital currency. She further explains it is like a stock market where investors are able to make money out of. But in her views, she would rather own the baby goat than a cryptocurrency. Because it is simple, when you invest you will either be filthy rich or things will go sideways, and you get broke.
The Explanation is Not Too Far Off
In an actual sense, the comedian is not far off from her explanation. Yes, bitcoin is a digital currency and not a physical one. This is known as a decentralized currency because any central authority does not issue it.
Instead, this digital currency’s maintenance relies on a secure network of computers and various participants spread around the world. Further, the currency is underpinned by an advanced technology referred to as blockchain. A public ledger of the multiple activities taking place that is tamperproof.
Over the years, cryptocurrencies have been known for their extreme volatility. If you are not on your toes watching the market, you could quickly lose millions of cash and be broke, as the comedian stated. Recently, the market saw a big crash, but it is not all bad news and doom as the market has slightly recovered.
And if you analyze the current coins that are present you will notice that some are not at their all-time highs, as they were before the crash.
So, Should You Invest in Bitcoin?
This is a question we are sure is running through your mind. What we are offering is an honest opinion and painting an accurate picture of what to expect. Just to ensure you are sure of the investment you want to jump into.
So should you invest or just buy a cute baby goat? All this depends on how much risk you are able to take. The cryptocurrency since it’s entrance to the market has changed numerous lives.
It is both in making people lots of money, and some losing along the way.
But just like any investment, you will get into if you hold on to the bumps that come there is an impressive reward at the end of it all.