What Is Bitcoin? Sabid Tries to Explain It 😂
Bitcoin sounds simple.
It is digital money.
It runs on a decentralized network.
It doesn’t need a traditional bank to process transactions.
And its supply is limited.
Simple, right?
Not according to Sabid.
The moment someone asked Sabid to explain Bitcoin, he opened his laptop, stared at the screen for 12 seconds, and said:
“Do you have two hours?”
Then he realized he didn’t understand it either.
So he closed the laptop.
“Never mind. Let’s start with the basics.”
What Is Bitcoin?
Bitcoin is a digital currency that was introduced in 2009 by an anonymous person or group using the name Satoshi Nakamoto.
Bitcoin allows people to send value directly across a network without relying on a traditional central authority to approve every transaction.
Transactions are recorded on a public blockchain.
That means the Bitcoin network keeps a shared record of transactions that can be verified by participants in the network.
Sabid listened carefully.
Then he asked:
“So Bitcoin is basically money that lives on the internet?”
“That’s one way to think about it.”
Sabid smiled.
“Finally, something I understand.”
How Does Bitcoin Work?
Bitcoin operates using a technology called blockchain.
Think of the blockchain as a public digital ledger.
Transactions are grouped into blocks.
These blocks are linked together in chronological order, creating a chain.
The Bitcoin network uses computers around the world to maintain and verify the system.
There isn’t one giant computer sitting inside a mysterious office controlling Bitcoin.
There are many participants contributing to the network.
Sabid looked impressed.
“So nobody is the boss?”
Exactly.
Sabid nodded.
“I like this system.”
Then he asked:
“Can I be the boss?”
“No.”
Sabid was disappointed.
Why Is Bitcoin Valuable?
This is where things become interesting.
Bitcoin has several characteristics that make it different from traditional forms of money.
Its supply is limited.
The maximum supply is designed to be 21 million bitcoin.
It can be transferred digitally.
Its network operates globally.
And people can choose to hold or use it without needing a traditional bank account.
But Bitcoin’s market value ultimately depends on what buyers and sellers are willing to pay for it.
Sabid has a simpler explanation.
“People want it.”
Someone asks:
“That’s your entire explanation?”
Sabid says:
“Yes.”
“And why do people want it?”
Sabid thinks for a moment.
“Because other people want it.”
Nobody knows whether that was brilliant or terrible.
Maybe both.
What Is Bitcoin Mining?
Bitcoin mining is the process used by participants called miners to help secure the Bitcoin network and process transactions.
Miners use specialized computers to compete in solving computational problems.
Successful miners can receive rewards according to the Bitcoin protocol.
Sabid once tried to become a Bitcoin miner.
He bought a calculator.
He stared at it for three hours.
Then he announced:
“Mining is too difficult.”
Someone explained that a calculator wasn’t a Bitcoin mining machine.
Sabid replied:
“That’s exactly what the mining industry wants you to believe.”
He never tried again.
What Is the Bitcoin Blockchain?
The Bitcoin blockchain is a public record of Bitcoin transactions.
Instead of keeping transaction information in one centralized database, the network maintains copies across many computers.
This helps make the system transparent and difficult to alter retroactively.
Sabid calls the blockchain:
“Bitcoin’s giant notebook.”
Someone corrects him.
“It’s more complicated than a notebook.”
Sabid responds:
“Fine. A very expensive notebook.”
How Is Bitcoin Different From Regular Money?
Traditional currencies such as the US dollar are issued and managed within centralized monetary systems, with central banks playing important roles.
Bitcoin was designed differently.
It operates through a decentralized network and follows rules defined by its protocol.
Bitcoin also has a predetermined maximum supply of 21 million coins.
Sabid loves this part.
“Only 21 million?”
“Yes.”
Sabid looks at the Bitcoin chart.
“Then why does everyone keep asking for more?”
Nobody has an answer.
Why Does the Price of Bitcoin Change?
Bitcoin’s price changes because buyers and sellers continuously interact in the market.
When demand increases relative to available supply, the price can rise.
When selling pressure becomes stronger, the price can fall.
News, market sentiment, economic conditions, liquidity, institutional activity and expectations can all influence the market.
Sabid has another explanation.
“When Bitcoin goes up, everyone wants Bitcoin.”
“And when Bitcoin goes down?”
“Everyone suddenly becomes a professional economist.”
😂
Should You Buy Bitcoin?
This is where Sabid becomes surprisingly serious.
Bitcoin is a highly volatile asset, and its price can change significantly.
Nobody knows exactly what Bitcoin will be worth in the future.
Sabid may joke about trading and investing, but he knows one important rule:
Never risk money you cannot afford to lose.
And definitely don’t use your sandwich money to buy Bitcoin.
Sabid learned that lesson the hard way.
He still remembers the sandwich.
It was a good sandwich.
He misses it.
Sabid’s Bitcoin Philosophy
After years of watching charts, candles, pumps and crashes, Sabid has developed his own Bitcoin philosophy.
Don’t panic because of one red candle.
Don’t become a genius because of one green candle.
Don’t believe every prediction on the internet.
Don’t assume every person with a chart knows what they are talking about.
And most importantly:
Never trust a candle.
Especially if the candle is named Sabid.
What Does Bitcoin Mean to Sabid?
To Sabid, Bitcoin isn’t just a digital asset.
It’s the reason he has spent countless hours staring at charts.
It’s the reason he learned about blockchain.
It’s the reason he argues with imaginary whales.
It’s the reason he keeps saying “HODL” when nobody asked.
And it’s part of the reason he dreams about buying a Lamborghini.
Sabid’s Lamborghini Mission
Sabid has a very ambitious goal.
He wants to buy a Lamborghini.
His problem?
He doesn’t currently have Lamborghini money.
So instead of magically becoming rich overnight, Sabid wants to build his story one step at a time.
He works at TurboPlayCrypto.
He creates crypto entertainment.
He wants to build an international community.
And he wants his followers to become part of his journey.
Maybe one day, the internet will look back and say:
“That ridiculous crypto candle actually bought a Lamborghini.”
Sabid hopes so.
For now, he has a laptop.
A crypto chart.
A dream.
And a suspicious number of trading losses.
What Should Sabid Learn About Bitcoin Next?
Bitcoin has many fascinating topics that Sabid still doesn’t understand.
What is a Bitcoin halving?
Why do Bitcoin whales move huge amounts of BTC?
What causes Bitcoin crashes?
Why do traders get FOMO?
Can Sabid actually become a successful trader?
And most importantly…
How many Bitcoin pumps does Sabid need before he can finally buy his Lamborghini?
The adventure continues.
This is Sabid Trader.
The crypto candle who thinks, laughs, HODLs…
and is still trying to understand Bitcoin.
Maybe one day he’ll finally understand it.
But probably not before the next market move. 😂
What should Sabid explain next?
Bitcoin halving?
Crypto whales?
FOMO?
Bitcoin crashes?
Or something completely crazy?
You decide.
Sabid deals with the consequences. 🏎️😂
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