The Oxford dictionary recently adopted a slew of new words. Bitcoin is among them. Here’s a brief overview of the word:
As a simple definition, bitcoin is just a kind of currency. You can refer to it just like any other kind of currency. You can treat the word “bitcoin” like you would the word dollar. For instance, do you have a bitcoin? I need some bitcoins. I wish I made more bitcoins.
Oxford puts it simply: a digital currency in which transactions can be performed without the need for a central bank.
True enough, but bitcoin definitely deserves far more research to get a true grasp of what it’s about. Here’s our guide.