What is Bitcoin? Bitcoin Explained & Made Simple

[Deleted member 25872]

What is Bitcoin? Bitcoin Explained & Made Simple​

To view this content we will need your consent to set third party cookies.
For more detailed information, see our cookies page.

Accept third party cookies

​

 

[Deleted member 50656]

Great video as always @Alexander! Is your clip based on UK or US terminology though? Slight amendment I'd recommend under Fiat Money is that 'legal tender' refers to money by decree of the crown (in the UK) that must be accepted to pay court fees, debts or money to the Crown. Businesses are under no legal obligation to accept any set currency: They could request you pay in chocolate buttons if they wanted: https://www.bankofengland.co.uk/knowledgebank/what-is-legal-tender

I learnt this the hard way when I got into a dispute with a retailer 😶

 

[Deleted member 25872]

Great video as always @Alexander! Is your clip based on UK or US terminology though? Slight amendment I'd recommend under Fiat Money is that 'legal tender' refers to money by decree of the crown (in the UK) that must be accepted to pay court fees, debts or money to the Crown. Businesses are under no legal obligation to accept any set currency: They could request you pay in chocolate buttons if they wanted: https://www.bankofengland.co.uk/knowledgebank/what-is-legal-tender

I learnt this the hard way when I got into a dispute with a retailer 😶

Interesting, thank you for the information - that's a video for another time. I hope you enjoyed watching it, though, feel free to publish this feedback in the comments section of YouTube. I am living in England. I tried basing the video around the knowledge that I already knew. 🙂 Technically speaking, if a shop only wanted to accept Pokemon Cards in exchange for a packet of Gum, they could. Still, I can't imagine their "customer base" being that strong, considering legal tender is what consumers use to trade.

Nonetheless, I hope it's okay to stay visible on my YouTube!