Friday, February 13, 2015

Bitcoin the New Currency? (Stock Ticker: BTCS)

Bitcoin is a new currency that was created in 2009 by an unknown person using
the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza, even manicures, Overstock.com is paying their employees with bitcoin.

Why Bitcoins?

Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
Buy on an Exchange
Several marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange.
People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending cash digitally.
People compete to “mine” bitcoins using computers to solve complex math puzzles. This is how bitcoins are created. Currently, a winner is rewarded with 25 bitcoins roughly every 10 minutes.

Owning Bitcoins

Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC.

This is a great long term investment. Overstock, Amazon, and other Companies are beginning to accept Bitcoin Currency. Bitcoin Store $BTCS is a wise investment. Within five years this stock will be worth $$$ when more consumers start to use it. Don't pass this investment up while the price is low, purchase thousands and gain millions in the long run.

Andreas Antonopoulos @ MIT Bitcoin Club

Why Bitcoin Terrifies Big Banks

What is Bitcoin? And Why Should I Care?

Big Business & Corporations Now Adopting Bitcoin

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