The Good Men Project Become a Premium Member We have pioneered the largest worldwide conversation about what it means to be a good man in the 21st century. Your support of our work is inspiring and invaluable. Explaining Bitcoin in Simple Terms In order to understand how Bitcoin works, we first need to understand how traditional money works. Distributed public ledger. Mining and cryptography. Keys and wallets. HODL, FOMO, and FUD. What does it all mean? Cryptocurrency supporters are predicting that their digital currencies will soon take over the material world. But first, wouldn’t it be nice to know how Bitcoin actually works? Read on for an all-inclusive guide explaining Bitcoin in simple terms.