The Bitcoin

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“THE HEAVEY ARTILLERY IN ECONOMY”

Simple Question: How do you think you’re going to buy your Tacos in the next years?

You might have answered with cash, or even by using your bank card for some of you. But what if I tell you it might be none of all that…

Let me present to you the solution that will change your way of trading: The Bitcoin!

First what’s Bitcoin?

To define it in a formal way: It’s a digital (Virtual) currency, created via a slow computer process called “mining”. The international currency is regulated without the involvement of banks/government agencies. It can be used to purchase goods from anywhere in the world. So to put simply: Bitcoin is the new way to pay for your Tacos, Video Games, Computer, and Socks…etc.

Need to know?

In the universe of Bitcoin you may meet some of these terms:

Bitcoin Client: software that receives and sends Bitcoins.

Wallet: Referring to a file that stores Bitcoin addresses and the private keys needed to use them.

Block chain: A public list pf all transactions ever sent, in simpler words “which Bitcoins belong to whom”

Bitcoin Address:  An identifier like an e-mail required to send someone Bitcoins

Miner: The person who helps creating Blocks added to the Block chain. Whenever a valid block is created, the miner receives 50 new Bitcoins. This is the process by which all Bitcoins come into existence.

Private Key: Works like a Password but it is always a number, which gives the access to send Bitcoins. If the key is lost, the currency in the wallet is gone forever.

Bitcoin Protocol: The security of this system requires that to download a copy of every Bitcoin transaction all the nodes of the network are needed.

Bitcoin Network: The network of computers through which Bitcoin transactions are broads-casted.

Why are we talking about it?

Because of this graph!The last two year 2016/2017 the price of Bitcoin has known a high peak where the highest one reached 1 Bitcoin=17500 $.

How could that be possible?

World’s experts in trading assume that we are in an age where technology is changing the dynamic of the business world.

The main factor that could explain bitcoin’s growth in popularity is the lack of external regulation and control from big banks or agencies. With its decentralised exchange, all transfers and transactions are peer to peer (From a person to another or from person to an enterprise or between two enterprises) directly.

In addition, Bitcoin is extremely secure, using dual-sided cryptography- which means that to do any transaction between two peers both of them have to validate their own Private Key – for each transaction, and there is also only a finite amount ever in existence.

So to summary:

  • It’s freedom from Banks, governments and business
  • Independent Become your own bank
  • Decentralized virtually indestructible network
  • Budget Friendly Transaction can be as small as five ten thousandths of a bitcoin

So how do you start using Bitcoins?

You got interested and you want to give it a try, you see an opportunity, this is how you can give your first shot.

  • The only thing you have to do is to download the free open source Bitcoin wallet from BITCOIN.ORG (The wallet looks and feels like an online bank where you have control)

Then you can send and receive coins with anonymous addresses which have this form: 1KBSrerrBCvQdwFSJMOX1HpRaFMrD2DRu

Where do you get Bitcoin?

  1. You can trade things in the online Auction house at BITMIT.NET
  2. Work online and get paid with bitcoins at BITGIGS.COM
  3. Or simply exchange cash to bitcoin or bitcoin to cash at MTGOX.COM

Most important question: What can you do with bitcoin?

  • Save them by leaving them on the exchange.
  • Sell them.
  • Convert them into cash.
  • Buy Goods.

In conclusion…

“Believe in unrealistic goals, because it’s the realistic thinking that makes our society mediocre”  -Arvin Lal

The Bitcoin represents probably the future of the world economy, and it is what will push it to the next level… And by the way, You own me a Tacos!

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