Question about Computers & Internet
Posted by Anonymous on
Bitcoin is good!
In some countries, it is treated as a precious property just like gold. Bitcoin mining is a process in which bitcoin digital currency is created.
The idea behind the creation of bitcoin is to have a currency form which is free from the control of any particular authority.
Bitcoin enables a peer to peer decentralized payment method which is approved by its users. You can be able to get more necessary details about bitcoins from Bitcoin Economics.
The bitcoins economy works with the help of its different parts including mining, transaction, the blockchain, etc.
Posted on Feb 22, 2018
In bitcoin something is good and something is bad. Today I will explain to you what is good and what is bad in bitcoin.
The advantage of bitcoin:
1. Irreversible transaction.
2. Safe and secure.
3. No paperwork.
4. Quick and cheap transaction.
The disadvantage of bitcoin:
1. It is not widely accepted.
2. Wallets can be lost.
3. Unknown technical flow.
Posted on Dec 27, 2017
Bitcoin is kind of digital currency. It can be taken to any place and anywhere. Basically, bitcoins are produced by the users and increasingly by the business running computers all over the world. It is different from conventional money because it is decentralized. As it is decentralized that makes easy to use bitcoin. No bank or single institution controls it. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees. With the following feature, we can say that bitcoins are good and to get more information you can look on to Kevin Patrick Hobbs.
Posted on Jun 13, 2017
The Blockchain as a system for verifying changes according to some rules is a good idea. Its application to finance is beneficial since it removes the need to ensure that electronic transactions. Bitcoins are good because of following reasons:
Posted on Apr 25, 2017
Bitcoin is very good. Most Western countries treat Bitcoin as a commodity like property of gold. However it is used like a currency almost everywhere and is mainstream, regulated by tax departments. Bitcoin Mining is the process by which Bitcoin Digital Currency is created. Mining verifies transactions on the Blockchain (a ledger of transactions, a copy of which is 'distributed' widely across computers worldwide, peer to peer) and a reward is given to the successful verification of these transactions. The awards add up and eventually (with quite some difficulty) a Bitcoin is created. Therefore a Bitcoin Miner is very much like the Federeal Reserve, because they literally create money. In fact you, yourself can become a Bitcoin miner from as little as US$25. Bitcoin is Digital Money. It works just like bits of information. Very long digital codes that represent a verified, unique representation of money. This can be transferred Peer to Peer, or Person to Person and eliminates the need to have banks. It is very popular in countries where currency has depreciated rapidly. People in those countries have moved to Bitcoin, which can be spent normally through EFTPOS and VISA and MASTERCARD Debit Cards at Retail. Eventually, digital money will naturally replace cash money. You can diversify your savings into Bitcoin to hedge against currency devaluation, which is a very real thing world wide. For more information contact www.glynmaclean.com
Posted on Oct 09, 2016
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Posted on Jan 02, 2017
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