Bitcoin yearly chart

Just like email was created to send messages from person to person around the world, Bitcoin was created to send money from person to person around the world. Just like the email system works with email addresses and emails, the Bitcoin system works with Bitcoin addresses and bitcoins.

To start using email you need to go to an email service like, open an email account, and start sending and receiving emails. On the bitcoin system you need to go to a bitcoin service like Coinbase, open a Bitcoin wallet, and start buying, selling, sending, and receiving bitcoins.

Email is something you can create and store in your “Sent emails” box infinitely, and the receiver can also store, copy, and resend endlessly. Bitcoins are something there is a limited amount of and when you send one it goes away from your wallet just like a dollar bill would from your physical wallet. The receiver can store it in his wallet or send it away, but when he does send it away it will be deleted from his computer. Thus, unlike emails, bitcoins are finite and unique. In this way they are more like gold than email; there is a limited amount and they cannot be copied or replicated.

These last two characteristics, finite and unique, are what make bitcoin ideal to be used as a currency. The fact that it is electronic and used only on the internet is what makes it a digital currency.

It is time to start using bitcoins:

As adoption of Bitcoin accelerates, its use case and functionality are more compelling for a growing number of merchants, consumers, traders, and investors. The following are some features that make Bitcoin so attractive:

It is a valid currency: While many are still analyzing if Bitcoin will be a valid currency or not, I say it is a store of value, an exchange mechanism, and a unit of account, therefore it is already a currency.

A store of value: Although the price of Bitcoin has been volatile, since inception it has been gaining value and already has a market capitalization of several billion dollars. As Bitcoin users continue grow globally its function as a store of value will be reinforced.

A unit of account: Since bitcoins can be used to store value, this value can be compared with the value of any other currency or merchandise. This makes it a valid unit of account to price products and services and to measure cash flows, among other things.

An exchange mechanism: Since it is easy to transfer, Bitcoin can be exchanged for products and services or used to payoff debts if the parties agree. Therefore, it can be used as an exchange mechanism.