Arun loved gold because it was valuable and could be traded for anything. But gold was heavy and hard to carry around. One day, Arun’s tech-loving uncle, Raj, said, “What if I told you there’s something like gold, but it’s digital? It’s called Bitcoin.”
Arun was curious. “How can something on the internet be valuable?”
Uncle Raj explained, “Imagine a rare type of coin that only 21 million of them can ever exist. People trust it because it’s created using special rules that no one can change. These coins live on a shared notebook called the blockchain, so everyone can see who owns what, but no one can cheat.”
Arun asked, “But who controls Bitcoin?”
“No one and everyone,” Uncle Raj replied. “It’s not owned by any bank or government. It’s run by computers all over the world that follow the same rules. And just like gold, people trust it because it’s rare and hard to create. You can send it to anyone, anywhere, anytime, without needing a middleman.”
Arun thought for a moment and said, “So, Bitcoin is like digital gold—valuable, rare, and something everyone agrees to trust?”
“Exactly!” Uncle Raj said. “It’s money for the internet age.”
Bitcoin is digital money that’s decentralized, secure, and limited, like gold, but you can use it anywhere in the world over the internet.
Login with Google
