While this is by no means factual, this is an opinion of how this will play out. At some point in the future, we will break through and quantum computing will become a reality and all existing encryptions will be insufficient and will be able to be broken in an...
What Is A UTXO?
An Unspent Transaction Output or UTXO is how Bitcoin is chopped up in your wallet, much like fiat bills. Imagine that you receive a $100 bill. This is 1 bill. You can see it in your wallet. You can get different kinds of bills with different denominations, 2x$20,...
What is Wallet Software & What Does It Do?
Bitcoin wallet software is a digital application that allows users to manage their Bitcoin by securely storing their private and public keys, facilitating transactions, and tracking their balance. It serves as an interface to interact with the Bitcoin network,...
What is a Bitcoin Wallet?
A Bitcoin wallet is a digital space that allows you view, send, and receive bitcoin. It is essentially a digital equivalent of a traditional wallet, but instead of holding physical money, it holds the cryptographic keys needed to access and spend your Bitcoin. Since...
What is a Seed Phrase?
The keys to spending your bitcoin are in the form of a string of numbers and letters that are somewhat random in nature. A human would have a very hard time remembering it. Instead, a specific list of 2048 English words are used to create this string of numbers and...
What is Bitcoin?
Bitcoin is a digital currency, just like the US Dollar, Canadian Dollar, Brittish Pound, Japanese Yen, etc. Wait!!! Those currencies are not digital - I have paper money physically in my hand. Yes, there is SOME paper money created (called the M2 money supply), but...