What is Bitcoin? 👀 Ultimate Beginners’ Guide! ✅ (EUREKA Moment 💥) You Will Understand Bitcoin! 💯

**Crypto Casey** (0:00)
What is Bitcoin? The answer to this question has evolved over time. However, it is simpler than we think. So by the end of this video guide for beginners, we will have that eureka moment where we finally understand what Bitcoin is and its implications for humanity in the future of our global economy. Bitcoin was created as a digital currency back in 2009 by an anonymous person or group of people that goes by the pseudonym Satoshi Nakamoto. And over time, as awareness of Bitcoin has spread, adoption of Bitcoin has increased, and as our world continues to drastically change post-pandemic, Bitcoin is not simply a digital currency anymore. It is becoming a force of nature that needs to be talked about and understood from many different perspectives. Because there is a financial definition of Bitcoin, a philosophical definition, social, mathematical, psychological, technological, legal, geopolitical, ideological and cultural definitions of Bitcoin. So, the easiest way for us to truly grasp and understand Bitcoin and its underlying blockchain technology is to approach it with a sense of openness and creativity. Because most people have a hard time understanding what Bitcoin is because of how it's misrepresented in media or because we apply traditional concepts of computers, the internet, software, banking and money to a technology that is not a computer, the internet, software, a bank or money. And one of the main reasons why it's so important for all of us to take the time to understand what Bitcoin is and spread awareness about it is because most of us don't understand how much power and influence the global financial system has over our lives due to not fully understanding how it works. And this mass lack of knowledge about how the global financial system works is by design. So to keep the focus of this video guide on cultivating a deeper understanding of what Bitcoin is, keep this in mind. The entire traditional financial system is legalized theft that deliberately prevents most people like us from generating, accumulating and maintaining wealth. And it's all courtesy of the central banks, big corporations and governments. Bitcoin is a new revolutionary financial technology that is not controlled or owned by a person, entity or central authority. And Bitcoin presents an opportunity for the first time in human history for us to truly own, control and protect our wealth. And also for the first time in human history, we have access to truly neutral financial infrastructure. Hello, I'm Crypto Casey, and now is the perfect time for us to all get curious about Bitcoin, gain knowledge about Bitcoin and spread awareness about Bitcoin, so we can build a better future for ourselves, our families and the world at large. Welcome to the Ultimate Bitcoin Introductory Video Guide for Beginners.
Let's get started.
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The best way to understand the importance of Bitcoin for our modern world is to first understand how and why the fiat currency, the US dollar, was designed to benefit a few people and entities while keeping all the rest of us poor. Fiat currency, like the US dollar, is a medium of exchange issued, backed and enforced by a government. No commodities like gold, natural resources or similar back fiat currencies. Rather, a government just decrees or declares that the currency is legal tender people have to use to transact in their country. And throughout history, all fiat currencies that have ever existed eventually went to zero and became worthless.
So right now, we all need to realize that the US dollar is a global fiat currency experiment that likely won't end well if history rhymes or repeats itself as it often does. So where did it all begin? Well, at a meeting on Jekyll Island in 1913, six of the most powerful men in the United States had a secret meeting on a private island off the coast of Georgia, where they created a plan for a new US central bank, which became the world's most powerful bank for over a century now, the Federal Reserve. And a central bank in a nutshell is an institution that can generate perpetual profits and never sustain any losses. It creates money whenever it wants, unfairly distributes it to bankers, bureaucrats and big businesses. So since bankers, bureaucrats and big businesses receive new money that enters the economy first before everyone else, they have massive financial advantages over us, like arbitrage opportunities to buy assets before prices rise. So by the time the money trickles down to us, assets are more expensive. And this unequal distribution of money is a key driver of injustices in our modern society. This phenomenon is known as the Canton Effect.