Originally posted on 01/29/2016:

Quote Originally Posted by shaunovery View Post
Too confusing
'The terminology may be confusing. Synopsis:

1. Bitcoin is decentralized meaning that bitcoins aren't controlled by banks, governments or other financial institutions.

2. Crypto-currencies are digital cash. Here's a list. http://coinmarketcap.com/. Most are just traded, but some such as Litecoin can be used to purchase items. Bitcoins have been around for 7 years. Not in video but bitcoins have been used by sportsbooks for 5 years.

3. Wallets are safe and only controlled by you. Wallets are different than exchanges such as Coinbase and Circle. A wallet, such as one at blockchain.info, does not care who you make transactions with and won't ask. Your bitcoins are stored in a wallet the same way as cash is stored in a bank.