What Is Bitcoin

What Is Bitcoin

What Is BitCoin?
Maybe you’ve heard of BitCoin—it wants to shake the entire global economy. And some people think it might! It’s online money—an alternative to dollars and euros. Well what’s that mean? It’s complicated, but we break it down.
BitCoin is a digital currency…
BitCoin is not real money. It’s an online “currency”—virtual tokens that can be exchanged for goods and services at places that accept it, the same way you’d give someone a dollar for a cookie.
with mega aspirations…
In their YouTube manifesto, BitCoin’s creators say they’re going to revolutionize global finance the way the web changed publishing. So! Kind of a lofty goal, aiming to be a global currency up there with (or replacing) the dollar. Right now, that’s still the pipiest of pipe dreams.
that’s exchanged via P2P
When you write your friend a check, money from your account is withdrawn from your bank, and then transferred to her bank, and then she withdraws it as cash (maybe). With BitCoin, there are no middlemen (other than the users that comprise the network itself). Money goes straight from you to whomever, through the BitCoin P2P system, with no intermediary agency passing along the chips.
and generated by its users.
This is where it starts to get a little weird! Unlike traditional currency, that’s backed up by something, (be it gold, silver, or a central bank), BitCoins are generated out of thin air. Through a process called “mining,” a little app sits on your computer and slowly—very slowly—creates new BitCoins in exchange for providing the computational power to process transactions. When a new batch of coins is ready, they’re distributed in probabilistic accordance to whomever had the highest computing power in the mining process. The system is rigged so that no more than 21 million BitCoins will ever exist—so the mining process will yield less and less as time goes on, and more people sign up. This makes the whole system a lot sweeter for early adopters.
To be spent at the few places BitCoin is accepted.
Not many places accept BitCoin at the moment, unlike traditional currency. But! There’s decent incentive for small businesses to use it—it’s free to use, and there aren’t any transaction fees. At the moment you can buy the services of a web designer, indie PC games, homemade jewelry, guns, and, increasingly, illegal drugs. If the internet is the Wild West, BitCoin is its wampum.
or converted into real money.
Just like you can trade in yen for dollars, you can swap your BitCoins with other users for several “real world” currencies. And right now, the BitCoin is trading very high! As I write this, one BitCoin is worth $7.5. Not too shabby at all.
Ways to earn bitcoins
Earn bitcoins online
Well to me bitcoins are the perfect online currency, makes it harder for governments to trace transactions, however not entirely impossible, but if you use your head you should be safe.
But you really dont have to invest to get into the bitcoin marked, just start doing some work for bitcoins, there is a couple of good sites for this online.
bitcoinclassifieds
forbitcoins.com
Also you could begin building an online business based on bitcoins, perhaps the ebay for bitcoins, there is a lot of different sites with bitcoins, if you like to gamble you could win some bitcoins from
bitcoinerr
a site for small jobs similiar to amazons mechanical turk ?
betco.in
the online pokerroom with only bitcoins, they got a lot of freerolls, which is great but they really dont get a lot of their freerolls running.
There also is a bitcoin web bank at
flexcoin.com
but that is a closed land for newcomers no invites, and I did not get in, if anybody got in please send me an invite. I really want to join, I am not sure but there was something about them going public, or was that just for a start periode and then going private to only have trusted members signed up, and then somebody gotta vouch for each new member.
bitcoin pyramide
join the pyramide for me, and attract yourself a lot of referrals to get some bitcoins.
You can also
There is a lot of things you can do, that is you can make a service that takes payment in bitcoins.
This could be a good idea, as you can make payments more anonymous in this way, as there is only a number, of course it is possible to dig out who that account belongs to, but you can use instawallets for some payments between the buyer and yourself and the thing is really hard to track.

Ways to earn bitcoins

Earn bitcoins online

Well to me bitcoins are the perfect online currency, makes it harder for governments to trace transactions, however not entirely impossible, but if you use your head you should be safe.
But you really dont have to invest to get into the bitcoin marked, just start doing some work for bitcoins, there is a couple of good sites for this online.
bitcoinclassifieds
forbitcoins.com
Also you could begin building an online business based on bitcoins, perhaps the ebay for bitcoins, there is a lot of different sites with bitcoins, if you like to gamble you could win some bitcoins from
bitcoinerr
a site for small jobs similiar to amazons mechanical turk ?
betco.in
the online pokerroom with only bitcoins, they got a lot of freerolls, which is great but they really dont get a lot of their freerolls running.
There also is a bitcoin web bank at
flexcoin.com
but that is a closed land for newcomers no invites, and I did not get in, if anybody got in please send me an invite. I really want to join, I am not sure but there was something about them going public, or was that just for a start periode and then going private to only have trusted members signed up, and then somebody gotta vouch for each new member.

bitcoin pyramide

join the pyramide for me, and attract yourself a lot of referrals to get some bitcoins.

You can also

There is a lot of things you can do, that is you can make a service that takes payment in bitcoins.
This could be a good idea, as you can make payments more anonymous in this way, as there is only a number, of course it is possible to dig out who that account belongs to, but you can use instawallets for some payments between the buyer and yourself and the thing is really hard to track.

what is bitcoin, what is bitcoin mining, what is bitcoin used for, what is bitcoin worth, what is bitcoin backed by, what is bitcoin farming, what is bitcoin address, what is bitcoind, what is bitcoin difficulty, what is bitcoin youtube, what is bitcoin mining, what is bitcoin mining actually doing, what is bitcoin worth, what is bitcoin currency, what is bitcoin farming, what is bitcoin address, what is bitcoin used for, what is bitcoin plus, how to earn bitcoins, how to earn bitcoins online, how to earn bitcoins mining, how to earn bitcoins mining, how to earn free bitcoins, how long to earn bitcoin, how to earn more bitcoins, how to earn money with bitcoin, easy ways to earn bitcoins, generate bitcoins, how do i get bitcoins, how to make bitcoins, online bitcoin mining, where do bitcoins come from, make money mining bitcoins, easy bitcoin mining