Bitcoin is a currency that exists on the Internet – it is created on the Internet to serve the Internet generation. Interestingly, it does not belong to any government and is not controlled by any bank. Additionally, it is not a company; a product, or a service. In fact…
Think of an internet command or algorithm; a method of communication similar to how we would use email or the web. Albeit, it is especially used as a payment medium. Therefore, you can send or receive bitcoins over the net well easy!! Interesting to note…
#Btc does not belong to anyone, but rather, it is a shared public good on the internet. As such, bitcoin is a digital currency and payment system that is open source. Thus it is controlled collectively by the participants in the network. Again…
Blockchain is the Internet of value upon which Bitcoin is hosted!
Bitcoin Is Owned And Controlled By The People
Think of a currency that does not belong to a nation. In this case, anywhere you have internet connection you will have instanct access to your funds. Similarly, online banking is conducted wherever you have internet providing your bank’s network is available. On the contrary…
Your bitcoin would be available worldwide all the time and the system can never go down. All you need is an app on your smartphone, tablet or pc and you are your own bank with a bitcoin wallet. Therefore, being prepared to accept and make payments on a global system 24 hours a day just by sending or receiving a text message. As absurd as it may seem, it is the way of the heretofore…
The idea of a national currency will be the only thing absurd within a number of years.
Bitcoin wallet holders can also instantly access their Bitcoin wherever they are, rather than waiting days for a bank to clear a funds transfer into American dollars.
Bitcoin is for everyone!
A global open system of money operated on the Internet Of Value – The Blockchain!
This is a global currency that anyone can participate in without asking permission. No need registering for an account or showing Id. All you need to do is download an app just like you would download a browser for participating on the web. Without registering with anyone, or creating an account, you can just download a bitcoin wallet.
Thus… you can receive and send bitcoin even from your smartphone!
WHY WOULD YOU SEND OR RECEIVE BITCOIN
For many persons in the more advanced western nations that have debit card, tap to pay –it’s not necessary. However… in the broader sense, we live in a world that is much divided. Thus, money faces boarders – very hard borders. In fact, strict lines of separation between countries and territories adversely affects money. Moreover… you have ‘these currencies’ that are badly managed by Governments and Banks. Therefore…
“The banking system is corrupt and parasitic in nature.”
Huge value is extracted from the daily lives of people by a corrupt financial system. The Bible says we should give Caesar what is due unto Caesar but in this case Caesar takes what he feels! The modus operandi of the bank in the long run is to steal from the people their sweat and blood.
He who rules the money controls the flow of goods and services People are dependent on the flow of goods and services. Unfortunately, money is often used as a tool to manipulate the lives of people locally and internationally.
Money is second nature to most and, we have all seen the difference in how rich people are treated vs how poor people are treated in our societies. There is a popular saying; “money talks and the contrary walks.”
What is money?
Money is something everyone is familiar with. What is it? Why is it so sought after?
Why BANKS are so inefficient? CONTROLLED BY MEN!
Why are CREDIT CARDS so expensive to use – SURCHARGES!!
Think about the hundreds of different national currencies and credit card companies world wide. What if a currency existed that does not face borders. YES – currencies face borders too!!
Imagine a single currency worldwide that was not controlled by men! The benefits would be immediate and staggering!
A global currency…
There would be NO exchange rate! NO bureaucracy! And NO corruption!
BITCOIN addresses all the problems! The fact of the matter is… While Credit Cards may be more convenient than cash for use online, it was not built for the internet! Hence, it does not address the security issues or rate of transfer necessary for convenient and safe use on the internet. As before mentioned, BITCOIN is internet money for the internet generation.
Bitcoin is currency that is very similar to the Dollar, Euro or Pound except it is digital – not physical. Meaning you use it online. Therefore, you have to be connected on the internet via wifi and even Bluetooth. Additionally…
You could use Bitcoin at a cash register by a form of scanning similar to how stores scan products or credit cards for billing purposes. Thus, to pay for something the cashier will give you a wallet address in the form of a code that you can receive on your phone as simple as you would a Bluetooth transfer or a text message.
Internet Cash!!
Similarly, someone can send you payment via wifi from anywhere in the world. The payment goes to your Bitcoin Wallet, which is highly encrypted and has to be opened with your private key (only you should have the private key to your wallet) INTERNET CASH!! Moreover…
For the billions of people around that world that does not have access to a financial system, BITCOIN is the answer. As such, there is a global drive called ‘THE INTERNET OF THINGS’. The aim is to connect all peoples globally through devices and cell towers. EVERYONE will have access to the internet and BITCOIN is the currency for the internet and will become the currency of the world!!
You only have to download or signup for a BITCOIN WALLET to start using bitcoin. This similar to getting an email account. BITCOIN is to a Bank what EMAIL is to a Post Office – a silver bullet!! To use this digital currency all you need is a BITCOIN WALLET. This is a software or app; and all you need to use it is your phone or tablet or computer. And you can spend BTC, or exchange it for cash. Also…
Acceptance…
Most places online accept it however, while offline venues that accepts BTC are on a rise, some places are still unaware or skeptic. Notwithstanding, BITCOIN is a FINANCIAL REVOLUTION. Finally…
Bitcoin is a store of value! Similar to gold, bitcoin operates as a digital currency but it’s real value is in acting as a store of value. Despite it’s volatility it is set to be an even better store of value than gold. Historically speaking, gold was just as volatile as bitcoin is today, when countries came off the gold standard.
A cheaper alternative to the cost and bureaucracy of existing banks and financial institutions. Moreover…
In countries where there is very little difference between a Government, a bank, and an organized crime board; BITCOIN COMES TO LIFE!!
Some Governments are organized crime syndicates and unfortunately, dozens of countries are like that. Thus…
Whenever these countries have a crisis they take the whole population with them. Borders are created and so are currency controls. Therefore the people are not able to withdraw money from the ATM machines or bank accounts.
Additionally, you can’t exchange money so you’re crippled financially; you’ll have to go with the ship and sink with it. However…
Bitcoin offers a safe haven!
Benefits for the Disenfranchised
Bitcoin allows people who have never had a bank account, to connect to a global financial system. Simply by downloading an application on a very simple smartphone or by using text messaging.
As a matter of fact… There are more than four billion people who are in that situation. Additionally… the vast majority of the human population has limited banking.
Typically, single currencies with strict conditions on what they can import and export. Bitcoin bypasses all of that; it gives everybody a currency that is open and global. That creates some very interesting conditions in the world.
It allows the creation of a unified financial system. One that exists outside the control of Governments. It’s completely private and very empowering for individuals. Therefore…
Why Are The GOVERNMENTS And BANKS Scared?
This is what is scaring the stuffing out of Governments and Banks -decentralization. However, those that find it strange to have people in control of their own money, raises a red flag! What kind of Government is that? “That does not believe in Freedom of Association, Freedom of Expression and Freedom of Commerce?!” As such…
That is an indictment to that kind of government, and not on bitcoin. Most liberal Governments are not afraid of bitcoin. As a matter of fact… they see it as an opportunity for growth and jobs.They call the industry ‘Fintech!’ That is the way that they should see it. Therefore…
This is one of the few things that can compete with banks and they need competition. In a free enterprise economy, competition serves to keep them from complacency and greed. They are way too comfortable with their power and established systems.
Owned by the people!
It’s important to realize that because bitcoin is not owned and controlled by anyone it’s not appealing to companies looking to carve out a niche in the market to control. Bitcoin demands a leap of faith to such companies.
It’s a decentralized very disruptive technology that flies in the face of every regulatory body that exists. At the moment, it is a bit outside the comfort level of most businesses. Thus…
Start Mining Bitcoins today!
Mining Bitcoin protects you from losing on bitcoin. The risk of speculating is not there when you mine bitcoins. You become one a generator of bitcoin which diminishes any risk of loss. Besides, bitcoin is the future and it started from cents and is now at thousands per bitcoin. And, It will be going up a lot more than it already has, the biggest currency on the blockchain is bitcoin.
Mining is very important as it authenticates the records on the blockchain!
Authenticating records on the blockchain is of major importance. As a matter of fact, it is an indispensable part of the bitcoin processing.
This ensures fairness while keeping the bitcoin network stable safe and secure. More miners means a more secure network!
As the popularity of bitcoin increased, more miners joined the network. This makes it more difficult for individuals to solve the math problems. To overcome this, miners have developed a way to work in pools. Pools of miners find solutions faster than individual members.
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