Bitcoin is known as the very first decentralized digital currency, they’re basically coins that can send through the Internet. 2009 was the year where bitcoin was born. The creator’s name is unknown, however the alias Satoshi Nakamoto was given to this person. Bitcoin accounts cannot be frozen, prerequisites to open them don’t exist, same for limits on bitcoin mining machine .
Advantages of Bitcoin
Bitcoin transactions are made directly from person to person trough the internet. There’s no need of a bank or clearinghouse to act as the middle man. Thanks to that, the transaction fees are way too much lower, they can be used in all the countries around the world. Every day more merchants are starting to accept them. You can buy anything you want with them. How Bitcoin works. You should explore bitcoin mining. It’s possible to exchange dollars, euros or other currencies to bitcoin. You can buy and sell as it were any other country currency. In order to keep your bitcoins, you have to store them in something called wallets. These wallet are located in your pc, mobile device or in third party websites. Sending bitcoins is very simple. It’s as simple as sending an email. Invest in bitcoin to get great returns.
You can purchase practically anything with bitcoins.Bitcoin Anonymity.When doing a bitcoin transaction, there’s no need to provide the real name of the person. Each one of the bitcoin transactions are recorded is what is known as a public log. This log contains only wallet IDs and not people’s names. so basically each transaction is private. People can buy and sell things without being tracked.
Bitcoin innovation. Bitcoin established a whole new way of innovation. The bitcoin software is all open source, this means anyone can review it. A nowadays fact is that bitcoin is transforming world’s finances similar to how web changed everything about publishing. The concept is brilliant. When everyone has access to the whole bitcoin global market, new ideas appear. Transaction fees reductions is a fact of bitcoin. Accepting bitcoins cost anything, also they’re very easy to setup. Charge backs don’t exist. The bitcoin community will generate additional businesses of all kinds.
What Makes bitcoin mining machine So Interesting?
Bitcoin is a hot! It rose to $5480.68 per coin recently! People are scrambling to get hold of it. But, can you actually pay for things with this digital cash? Yes! This is by no means all of the businesses accepting Bitcoin, but it is an interesting list of big names to show you that it is now a serious currency to consider owning... Dell now accepts Bitcoin. They have a partnership with Coinbase, one of the most trusted exchanges. DISH Network - Internet service provider Newegg - Huge retailer of computer electronics and hardware Microsoft - Add money to your account with Bitcoin to buy apps, games, and videos. TigerDirect - California-based retailer that offers electronics, computers, and computer components that caters to business and corporate customers. Steam - Desktop gaming platform Subway - Eat fresh A Class Limousine - Luxury service will pick you up. Suntimes.com - Chicago based online newspaper Rakutan - A Japanese e-commerce giant MovieTickets.com - Online movie ticket exchange/retailer Yacht-base.com - Croatian yacht charter company Expedia.com - Online travel booking agency Save the Children - Global charity organization There are thousands more and hundreds of thousands to come. Bitcoin is just an infant. More and more businesses will realize the value of this magic currency soon. Many wealthy investors are buying it up like crazy. Maybe they know something the general public needs to know!
Statement on Bitcoin User Activated Hard Fork
As readers of my blog know, I will only promote products and/or services that I myself use or invest in. I wanted to provide an update to the cloud mining contracts that I recently purchased. Cloud mining works differently than traditional mining in that you do not purchase any hardware to do the mining for you. This means you do not incur large electricity costs associated with owning your own machine. It is all done by others and you are simply buying into a pool. When I started them on May 23rd I wasn't really too sure what to expect.
Since two weeks have passed I figured I have a good amount of data and info to provide a solid report. The first contract I started was with Hashing24. They only offer Bitcoin mining. The way it works with them is you buy whatever hashing power you want (for more on that see my post "mining"). They have plans that are as low as 100 GH/s and cost as little as $18. Because they offer indefinite contracts, you pay a small daily maintenance fee of $.033 per 100 GH/s.
The calculator on their site predicts that at the current price of Ethereum ($223) I would make $2,358 off my $1,090 investment. That kind of return makes it worth the risk to me.
Again, because I am a long term investor in both Bitcoin and Ethereum, I view this as a solid opportunity to diversify your portfolio and at the same time attempt to make some passive income. Keep in mind that cryptocurrencies are extremely volatile and that can wildly impact your potential profit. Do your homework first. If you are a long term investor in cryptocurrency, this appears to be a worthwhile play.