What is Bitcoin?
Bitcoin is digital money used for secure and instant transfer of value anywhere in the world. It is not controlled or issued by any bank or government - instead it is an open network which is managed by its users. Much in the way email improved communication by making it fast and cheap, bitcoin is an improvement on existing payment methods which were not designed for the internet era.
Is Bitcoin safe?
Bitcoin’s core protocol is viewable by anyone, has been vetted by thousands of security researchers around the world, and has proven to be robust and reliable after immense scrutiny. Using bitcoin is similar to using other private applications on the internet, such as email or online banking. Just like these other web services, you must access your bitcoin with a password in order to ensure only you have access to your money.
Is it tied to the value of the dollar?
The value of a bitcoin is not tied or pegged to the value of any other currency. Similar to stocks or property, bitcoin’s value is determined by buying and selling in the open market. A bitcoin’s price changes in real time based on the number of people who want to buy or sell it at a given moment.
Why does it change value?
Bitcoin is traded for dollars, euros, yen, and other currencies in real time 24 hours a day. Depending on the demand for buying or selling bitcoin, the price can fluctuate from day to day. This is similar to the manner in which the value of a stock or property can go up or down based on supply and demand. Bitcoin’s value can be volatile compared to traditional currencies such as the US dollar because it is still an emerging technology.
Is it similar to a credit card or paypal?
Unlike credit card networks like Visa and payment processors like Paypal, bitcoin is not owned by an individual or company. Bitcoin is the world’s first completely open payment network which anyone with an internet connection can participate in. Bitcoin was designed to be used on the internet, and doesn’t depend on banks or private companies to process transactions.
Why would I use bitcoin?
Bitcoin allows you to instantly send any amount of money to anyone in the world without needing a bank. It allows you to access your money without needing an ATM or credit card - bitcoin gives you back control over your money. Plus you can pay friends back for dinner, buy your next computer, and donate to charity, all using bitcoin.
Where can I spend bitcoin?
Many large online businesses accept bitcoin, such as Overstock, Expedia, and Dell. Non-profits such as Wikipedia and the United Way also accept bitcoin donations. Look for a bitcoin payment option at many of your favorite websites and you’ll be surprised how many accept bitcoin! You can view a list of merchants here.
Create A Bitcoin Wallet For Free To
The most important thing to do is LEARN you can never know enough. The Bitcoin world is always changing and it is important to stay on top of things. Sites go down , Countries make laws and hackers are always at work good and bad. New technology comes out people find a way in and then it repeats. The world is full of bad people and they are drawn to Valuable Items. Bitcoin is proven to be the digital gold with unpredictable value and people will always be trying to get it anyway they can. The same way they have always tried to get fiat money. That will never change the security and acceptance by the mainstream will help stop and hold these bad people accountable. Never stop the research into the blockchain tech. Here is some great info to get you started.
Bitcoin on Wiki!
The world's first decentralized currency.
Satoshi Nakamoto... the legend
According to legend, Satoshi Nakamoto began working on the Bitcoin concept in 2007. While he is on record as living in Japan, it is speculated that Nakamoto may be a collective pseudonym for more than one person.
August 15, 2008
An interesting patent application...
Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application. All three individuals deny a connection to Satoshi Nakamoto, the alleged originator of the Bitcoin concept.
August 18, 2008
Bitcoin.org is registered
Bitcoin.org is born! The domain was registered at anonymousspeech.com, a site that allows users to anonymously register domain names and currently accepts Bitcoins.
All this info is from http://historyofbitcoin.org/
Expand Your Customer Base Globally
Merchants can accept bitcoin payments worldwide
Copyright © David Rindfleisch. Plus all info that have on here came from the sites they are talking about . Bitcoin mining free story/journey of my #bitcoin mining life through the #BitRichClub.- free-club #BitLife4Life Bitcoin mining club - Free Story/Journey of my #Bitcoin life told in the Bitrichclub. A Bitcoin Club