WHO OWNS BITCOIN? Bitcoin is decentralized, meaning it has no single owner or controlling authority. Instead, ownership is distributed among individuals who hold and transact with it. Each user owns Bitcoin through cryptographic keys, with a public key for receiving and a private key for accessing and controlling funds. Ownership also extends to entities like exchanges and investment funds, but the decentralized nature of Bitcoin ensures widespread ownership across the network.

WHO CONTROLS BITCOIN? Bitcoin operates on a decentralized network where control is distributed among its users. No single entity controls Bitcoin, and its integrity is maintained through a consensus mechanism called proof of work. This decentralized structure ensures resilience against manipulation or control by any single authority.

HOW DO YOU KNOW? Because its built and coded on a decentralized network of nodes (computers), combined with the proof of work algorithm, prevents any single entity from controlling or owning Bitcoin. This network is public & everyone can view the ledger of transactions.

WHAT HAPPENS IF ALL THE POWER GOES OUT? Your Bitcoin or other cryptocurrency would always remain safe & secure encoded into the blockchain on the network. That is why diversification is always the safest bet. If you only had cash, all of that cash could burn in a fire. If you only had gold bars, they could be stolen. But as long as you remember your seed phrase (private keys), you could retrieve your Bitcoin from the network from any location in the world & at any time. Loss of power would also mean loss of banking services. Money in your bank account would not be immune to a power outage either.

WHAT HAPPENS IF I LOSE MY CRYPTO WALLET? As long as you have your seed phrase (private keys) aka your 12-24 word password. With assistance you can retrieve your crypto funds with a brand new wallet. Think of it as your own unique encrypted BTC serial number. No one can retrieve your lost funds without your seed phrase. But, if someone steals your seed phrase then there is no way to retrieve stolen funds.

CAN BITCOIN GET HACKED? Because its spread out over a number of nodes all over the world (its decentralized nature), there is no single point of control, making it impossible for hackers to target and compromise the entire network at once. Bitcoin uses robust cryptographic algorithms to secure transactions. Bitcoin's consensus mechanism, known as proof of work, requires miners to solve complex mathematical puzzles to validate transactions and add them to the blockchain. This process requires significant computational power, making it impossible for any single entity to overpower the network and manipulate transactions.

IS BITCOIN LEGAL? The legality of Bitcoin varies worldwide, with most countries allowing its use but subjecting it to varying degrees of regulation. While some countries embrace Bitcoin, others impose restrictions or outright bans. Regulatory frameworks address concerns such as consumer protection and anti-money laundering. Global cooperation is crucial for addressing regulatory challenges in the evolving cryptocurrency landscape. Individuals and businesses should stay informed about local laws and seek professional advice to ensure compliance.

HOW DO I CASH OUT MY BITCOIN? Depending on where you are located in the world. You have several options: Use cryptocurrency exchanges to sell Bitcoin for fiat currency. &/or Utilize peer-to-peer platforms to sell Bitcoin directly to other individuals. &/or Use Bitcoin ATMs to exchange Bitcoin for cash. &/or Consider over-the-counter desks for large-volume trades. &/or Explore payment services like PayPal or Cash App for Bitcoin sales. *Always choose reputable platforms, prioritize security, and be mindful of fees, exchange rates, and regulatory requirements.

WHAT CAN I BUY WITH MY BITCOIN? Contrary to common belief, the use of cryptocurrency is becoming widespread with the takeover of an all digital world. In some countries you can buy a house, car, healthcare directly with cryptocurrency. Alot of companies are now accepting cryptocurrency as an alternative to fiat. Some examples are: PayPal, Tesla, Shopify, Overstock.com, Newegg, Whole Foods & many many more. Companies are now starting to offer salary pay in cryptocurrency as opposed to fiat.

HOW DO YOU KNOW ITS NOT A SCAM? Bitcoin has been operational since its inception in 2009 and has withstood various challenges and criticisms over the years. Despite facing skepticism and volatility, Bitcoin has continued to grow in value and adoption, demonstrating its resilience as a decentralized digital currency. While regulatory frameworks for cryptocurrencies vary globally, many countries have recognized Bitcoin as a legitimate asset or form of payment. Some jurisdictions have implemented regulations to address consumer protection, anti-money laundering, and taxation related to Bitcoin transactions.

WHO INVENTED IT? WHO IS SATOSHI NAKAMOTO? Bitcoin was invented by an individual or group of individuals using the pseudonym Satoshi Nakamoto. Nakamoto published a whitepaper in 2008 outlining the concept of Bitcoin as a decentralized digital currency and payment system. They released the first version of the Bitcoin software and launched the network in 2009. However, Nakamoto's true identity remains unknown, as they stepped back from the project in 2011. Despite speculation, their anonymity has contributed to Bitcoin's decentralized nature.