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Bitcoin: Money or Mania?

In its 17th-century Gouden Eeuw (Golden Age), the United Provinces of the Netherlands rode high on a wave of self-confidence. The Dutch had thrown off the yoke of Spanish control, establishing themselves as the premier trading nation of Europe… and, indeed, of the world. With self-confidence came folly. Dutch traders had recently introduced tulips from the Ottoman Empire to Holland. They rapidly became a coveted luxury item amongst the mercantile elite. But they were difficult to grow in Northwest Europe. Consequently, single bulbs of unusual varieties could fetch prices that made working for a living seem insane. During the chilly winter months when tulips would not grow, the canny Dutch invented formal contracts to buy tulips at the end of the growing season – the first futur...[Read More]

How Bitcoin Works

Bitcoins are a decentralized form of crypto currency. Meaning, they are not regulated by a financial institution or the government. As such, unlike a traditional bank account, you do not need a long list a paperwork such as an ID in order for you to establish what’s known as a bitcoin wallet. The bitcoin wallet is what you will use to access your bitcoins and to send bitcoins to other individuals. How To Setup An Account You can acquire a bitcoin wallet from a bitcoin broker such as Coinbase. When you open up a wallet through a certified broker, you are given a bitcoin address which is a series of numbers and letters, similarly to an account number for a bank account and a private key which is a series of numbers and letters as well, which serve as your password. How Does Bitcoin Wor...[Read More]

Bitcoin – Big Businesses That Accept Bitcoin

Bitcoin is 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. Virgi...[Read More]

Bitcoin: What Is It, and Is It Right for Your Business?

OK, so what’s Bitcoin? It’s not an actual coin, it’s “cryptocurrency,” a digital form of payment that is produced (“mined”) by lots of people worldwide. It allows peer-to-peer transactions instantly, worldwide, for free or at very low cost. Bitcoin was invented after decades of research into cryptography by software developer, Satoshi Nakamoto (believed to be a pseudonym), who designed the algorithm and introduced it in 2009. His true identity remains a mystery. This currency is not backed by a tangible commodity (such as gold or silver); bitcoins are traded online which makes them a commodity in themselves. Bitcoin is an open-source product, accessible by anyone who is a user. All you need is an email address, Internet access, and money to get sta...[Read More]

How to Buy Bitcoins

Everyone is curious as to what bitcoin is and how one gets to earn it and spend it. Bitcoin is the most famous and biggest digital currency in the world regarding market capitalization and the market share where there are no intermediaries to handle the transactions. Microsoft Co-founder, Bill Gates has a lot of faith in Bitcoin to the point of saying, “Bitcoin is a technological tour de force.” According to Leon Louw, a Nobel Peace Prize nominee, every informed person needs to know at least about bitcoin since it has the potential to become one of the world’s most significant developments. One can buy bitcoins directly from other bitcoin users via marketplaces or through exchanges, and one pays for them through hard cash, credit or debit cards, electronic wire transfers,...[Read More]

Bitcoin Basics

For someone not familiar with Bitcoin, the first question that comes to mind is, “What is Bitcoin?” And another common question that is often asked relates to the Bitcoin price. It started out a under 10 cents per Bitcoin upon its introduction in early 2009. It has risen steadily since and has hovered around $4000 per Bitcoin recently. So regarding Bitcoin value or the Bitcoin rate this is a most remarkable appreciation of value and has created many, many millionaires over the last eight years. The Bitcoin market is worldwide and the citizens of China and Japan have been particularly active in its purchase along with other Asian countries. However, recently in Bitcoin news the Chinese government has tried to suppress its activity in that country. That action drove the value of ...[Read More]

What Is Bitcoin?

Bitcoins have become a very well known and popular form of currency over time. Though, what exactly is Bitcoin? The following article will go over the in’s and out’s of this currency that popped up out of no where and spread like a wildfire. What makes it different from normal currencies? Bitcoin is a digital currency, it is not printed and never will be. They are held electronically and nobody has control over it either. Their produced by people and businesses, creating the first ever form of money known as cryptocurrency. While normal currencies are seen in the real world, Bitcoin runs through billions of computers all around the world. From Bitcoin in the United States to Bitcoin in India, it has become a global currency. However the biggest distinction it has from other cur...[Read More]

Is Bitcoin As Good As Gold?

Gold and Bitcoin have been used synonymously as safe havens and currencies. What is a safe haven? It is a place to park wealth or money when there is a high degree of uncertainty in the environment. It has to be something that everyone can believe in even if the current institutions, governments or players in the business game are not available. The wealth has to be kept safe in times of trouble. What are the risks to someone’s wealth? There is theft by robbery if it is a physical asset. There is damage by fire, flood or other elements. There is the legal issue in not being able to determine if the asset is really yours or not. There is access risk in that you may own the asset but may not be able to get your hands on it. You may own the asset but may not be able to use it due to som...[Read More]

Short History of Bitcoin

Bitcoin is the premier cryptocurrency of the world. It is a peer-to-peer currency and transaction system based on a decentralized consensus-based public ledger called blockchain that records all transactions. Now the bitcoin was envisaged in 2008 by Satoshi Nakamoto but it was a product of many decades of research into cryptography and blockchain and not just one guy’s work. It was the utopian dream of cryptographers and free trade advocates to have a borderless, decentralized currency based on the blockchain. Their dream is now a reality with the growing popularity of bitcoin and other altcoins around the world. Now the cryptocurrency was first deployed over the consensus-based blockchain in 2009 and the same year it was traded for the very first time. In July 2010, the price of bit...[Read More]

Is Bitcoin Money?

What is money? Money is a measurement unit for the purpose of exchange. Money is used for valuation of goods, settling debts, accounting for work performed, and standardizing the measurement of production. Money has to be divisible, portable, stable in value, easy to obtain, durable over time and must be trusted by all parties using it. Imagine money that is too large to divide into pieces, heavy to carry, spoils after 2 days, gets damaged easily or can be eaten by animals? If these are the characteristics of the currency, it would not be that useful and many business deals would not happen. The most important element of money is trust. If you work for someone and you are not sure if you will get paid, would you do the work? If you did the work, and you got paid in something that was not a...[Read More]

Bitcoin – Yes or No? Should You Invest in Bitcoin?

Wondering if you should invest in Bitcoin? If you've been around any kid of financial news lately, you've no doubt heard about the meteoric rise in the world's most well-known cryptocurrency. And if you're like a lot of people right about now, you're probably wondering, "Bitcoin – yes or no?" Should you invest? Is it a good option? And what the heck is Bitcoin anyway? Well here's a few things you should know about Bitcoin before you invest. Also note that this article is for information purposes only and should not be taken as any kind of financial advice. What is Bitcoin? Bitcoin is known as a cryptocurrency or a digital currency. It's basically online money. Like any currency you can exchange it for other currencies (like say, buy bitcoins with...[Read More]

Bitcoin Is Not Gold

Lots of people have been asking: gold vs. bitcoin? Which should I add to my portfolio? And how much of it should I have? This is no small wonder. Bitcoin is the boom speculation of 2017. We have crowds on Wall Street shouting for it to march straight to $20,000 and beyond. Other crowds are shouting that it’s a bubble ready to pop. We have the Winklevoss twins hailed as the first bitcoin billionaires. CME Group and CBOE Global Markets are chomping at the bit to offer bitcoin futures. And the IRS is gunning for its cut of the bitcoin gains. If the media headlines are anything to go by, bitcoin has become a holiday party and an “end of the world” party all rolled into one. All the attendees are drunk and exuberant… and sure their outlook for cryptocurrency is the right...[Read More]

Buying Gold Bullion With Bitcoin

Buying gold bullion with bitcoin is easier than you think. I managed to discover a very specific way to use my bitcoin to buy gold bullion every single month on automation. The best part is that the bitcoin I used to buy the gold, did not even cost me anything. In fact, the gold I bought was technically free. I am not making assumptions or trying to convince anyone to run and spend all their earnings on empty promises. The method I use to accumulate gold bullion is a fact and I use this method every single day, which I will be sharing with you on this article. The following steps are involved to make this a success Start mining bitcoin Link your online wallet with a visa card Save up bitcoin and buy gold bullion Start networking and refer people to your method Earn affiliate commissions St...[Read More]

How Bitcoin Processing Units Are Being Used For Mining Digital Currency

It is a well-known fact that bitcoin mining hardware has changed by leaps and bounds in recent times due to the evolution of new central processing units in the market. The new machines can conduct Bitcoin processing at a faster rate as compared to the computers of the past. Moreover, they consume less power and last for a very long period. Field programming gate array processors are connected with the CPUs to enhance their computing power. While selecting hardware for Bitcoin processing, make sure that it has a large hash rate that would deliver spectacular results to the users. According to the experts, the speed of the data processing is measured in mega hash rates per second or GIGA hash rates per second. Another parameter for selecting the best bitcoin mining hardware is to analyze th...[Read More]

Mommy, Where Do Bitcoins Come From? Bitcoin Mining Explained

“Mommy, where do Bitcoins come from?” Well, you see, when a shiny young Bitcoin catches the eyes of an ambitious miner, and because they love each other very much… Wait, that’s obviously too difficult to solve here. Besides, my whole goal is to keep things simple. Anyway, Bitcoins are made by solving complex math problems. This is done by a powerful machine that is built to solve these math problems. This process is called mining. People who own these machines to make money mining Bitcoins are called miners. When a batch of problems is solved it becomes known as a block. Blocks are verified by other users and once they are verified, they get added to what is called the block chain. This chain continues to grow with a new block being added to it roughly every 10 minu...[Read More]