what is Bitcoin???
bitcoin is the first
decentralized digital currency bitcoins
are digital coins you can send through
the internet compared to other
alternatives bitcoins have a number of
advantages bitcoins are transferred
directly from person to person via the
net without going through a bank or
clearinghouse this means that the fees
are much lower you can use them in every
country your account cannot be frozen
and there are no prerequisites or
arbitrary limits let's look at how it
works bitcoins are generated all over
the Internet by anybody running a free
application called a Bitcoin miner
Mining requires a certain amount of work
for each block of coins this amount is
automatically adjusted by the network
such that bitcoins are always created at
a predictable and limited rate your
bitcoins are stored in your digital
wallet which might look familiar if you
use online banking when you transfer
bitcoins an electronic signature is
added after a few minutes the
transaction is verified by a miner and
permanently and anonymously stored in
the network the Bitcoin software is
completely open source and anybody can
review the code bitcoin is changing
finance the same way the web changed
publishing when everyone has access to a
global market great ideas flourish let's
look at some examples of how bitcoins
are already used today you can purchase
video games gifts books servers add
alpaca socks several currency exchanges
exist where you can trade your bitcoins
for dollars euros and more bitcoins are
a great way for small businesses and
freelancers to get noticed it doesn't
cost anything to start accepting them
there are no chargebacks or fees and
you'll get additional business from the
Bitcoin economy for your first bitcoins
and more information visit we use coins
