Imagine working for 40 hours a week and instead of collecting a paycheck that you could cash at your local bank, you’re instantly sent Bitcoin over the internet on payday. However, the catch is that you can never physically withdraw the Bitcoin as it is an intangible asset. Bitcoin is an electronic cryptocurrency that is sent to and from individuals via the internet, so your “cash” would remain online indefinitely. You might be asking yourself, “Well couldn’t someone hack into the server and steal the Bitcoin”? Well yes and no, Bitcoin operates on a permanent online ledger called the Blockchain where every transaction between individuals is recorded forever and is not hackable by anyone. When these Bitcoin are bought and sold on market exchanges like coinbase they are vulnerable to theft and attacks because the security does not match that of the Blockchain. The point of it’s inception was to create a currency that wasn’t regulated by the government or bank intermediaries, and that is Bitcoin in it’s entirety.

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