Bitcoin : How to Explain Bitcoin to Lenders
Hi all, I’m in the process of closing on my first place and my lender has asked me to “Provide an explanation for how bitcoin works; how it starts, how its converted, how the value is determined-either provide something from online combined with a letter of explanation”
I’m paying for a portion of my down payment with funds I previously held in BTC so they have an interest in its functionality (and legitimacy, I’m sure).
What would be the best details to include, or web resource to point to that would make the most compelling explanation for these traditional finance types? I think mentioning the BTC’s market cap in comparison to gold and the stock market would be helpful, for example.
Thanks!
Bitcoin
Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority.
FindCrypto scans the web for the latest Bitcoin news, so you can find all the latest and breaking news in one convenient location.Author: Mycophobic
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