Bitcoin is the new money of the future. It's a startup
currency, which is the first of its kind. Bitcoin is the first “decentralized”
electronic currency neither controlled by an organization nor government. Being
an open sourced project, Bitcoin currently has more than 100,000 users
worldwide. Using a unique decentralization method has been Bitcoin’s basis for
security and freedom. Day in and day out, people from all over the world use
this unique decentralization method of compensation to trade hundreds of
thousands of dollars worth of Bitcoins every day without the use of a middleman
or credit card companies.
Bitcoin uses 21 million secure mathematical
tokens (Bitcoins) as money, secured by advanced cryptography
many times stronger than that used by banks. Instead of simply just sending or
receiving, coins are cryptographically signed over from one party to another.
The equivalent of putting a lock and key on each token so that Bitcoins can be
securely backed up in multiple places, and so that copying doesn't increase or
decrease the amount you own.
Emails enable us to send free messages worldwide, Skype
allows us to make phone calls for free. Now there's Bitcoin, the first digital
currency that is completely individually distributed. Bitcoin’s network is made
up of ordinary users, so a bank or payment processor is no longer required
between trades. Bitcoin lets you send money to anyone online, anywhere in the
world for less than a cent, and overtime many store in Europe are picking up on
the trend.
Personally, I’m old fashion. I’m the savings account under
the mattress type of guy. I like being able to physically count my money
without worrying about external forces (hackers). But the idea of a
mathematically generated currency is interesting, and I’m intrigued to see what
innovations come of this.
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this product is very interesting. i would like to see how it does in the market and how many people will actually use it.
ReplyDeleteIt's really amazing to see how far we have came with currency. When the English first came to America, they use precious rocks as currency. Now that we are moving into a digital era we are using digital money. I can't wait to see what the future may hold.
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