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Thursday 21 November 2013
Video] HOT TOPIC- Bitcoin
Review Bitcoin news
Review
Bitcoin
the
future digital money
Written by Amira Lee
What is Bitcoin?
It is called ‘digital coins’ that transferred by P2P way
(*P2P means peer-to-peer in computer fields). The focus of using Bitcoin is
that ‘fast, safe and no need transaction places’. It is better than using
credit card and Paypal. Bitcoin. It is analyzed that Bitcoin is going to
replace both of them in future.
Characterize of
bitcoin
Bitcoin is ‘irreversible’. That’s why the address of money
receiving place is important.
Bitcoin is non-refundable. Therefore you have to very be
careful to use this money for your business.
Bitcoin is safe, but not fast. The transaction time takes
more than 10 minutes, however, it is still experimental. It might be improved.
How To Get
The procedure to get Bitcoin is not easy because of security
issue. You go to Bitcoin.Org.
They provides your computer very high levels of security. However
you have to store and backup everything of your Bitcoin wallet. This is very
important. This habit can protect you against a lot of human mistakes and
computer failures. ( including device stolen case)
Bitcoin can be
obtained in two ways: (1) bought and sold between individuals; or, (2)
virtually ‘mined’ with computer programs that crack an algorithmic code
which then rewards you with freshly created units of Bitcoin.
How To Exchange
How can we use Bitcoin? How can we exchange it to real cash
in real currencies?
Bitcoin exchange is a place we people buy and sell Bitcoins
for other currencies.
Once you have signed up for an account you will be able to
wire money directly into the exchange bank.
There are many
Bitcoin networks and exchanges where you can buy Bitcoin online. Mt. Gox
is a Japanese exchange that claims to handle 80% of all Bitcoin trades. Many
networks and websites have been set up which allow the purchase of Bitcoins via
bank transfers.
Kinds of Bitcoin:
a)
Multi Bit – This is mobile app. You can
download for Windows, Mac and Linus.
b)
Bitcoin Wallet – For Android
Why is
Bitcoin HIT?
What is the benefit
from Bitcoin using? Wherever you travel or whatever you buy online without
having to be bothered with exchange rates and fees.
Bitcoin transactions
are entirely private – the exchange between transacting parties is
instant, anonymous and irreversible.
Conclusion
According to World financial news of portal sites, the price
of Bitcoin was US$50 on May 2013, however it becomes over US$200 Nov 2013. By
the way it is limited. Why should it be ‘limited’? The World bank announce
already to control the amount of Bitcoin. People start to be crazy to drag all
Bitcoin market out. Bitcoin is safe in use and free from tax /or lower than
credit card. However it’s like a gamble which is danger than stock. Market
previews that Bitcoin will survive till 2140. This phenomenon is similar to the
transference of people’s interesting from gold via diamond to Bitcoin. It will
be capable with hundreds ago stamps one day. [END]
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