In case you haven’t heard about Bitcoin and digital currency yet, time to wake up. After only a few short years , Bitcoin has generated a total value in the billions and is creating buzz in every corner of the world. People ask why and for what reason does this â€˜currency’ merit attention? How is it different from any existing currency we use currently? And the grand question everyone is asking , â€Here today, gone tomorrow?â€
There are a few myths and fallacies that we address in this article and by doing so, we hope to give you a little more insight into Bitcoin, why it exists and where it is going.
First of all, what is Bitcoin? It is a peer to peer store of value that can be held and is designed to be used for trading in exchange for goods and services. More technically, it is a string of values using the strongest encryption we have to date where the record is kept transparently, securely and anonymously with redundancy throughout the Internet. The â€˜blockchain’ is the source of bitcoin and the store of transactions that occur in the Bitcoin world.
This blockchain is hashed or mined to match transactions and when new Bitcoin are found, they delivered to the miner that found the matching transactions. Private and public pools collectively mine for Bitcoin and these pools make up the majority of the petaflops currently being hashed which is devouring the network in search of (string values to match.
Don’t know mining, not technical and don’t know where to start, but you want to earn Bitcoin. Perhaps you do understand Bitcoin, digital currencies and how it works but still need assistance with developing a plan to earn Bitcoin. Multiple resources exist where you can find information on how to start generating Bitcoin. The best we have found so far is http://www.bitboxy.com, but do your research as there are a lot of websites coming online devoted to Bitcoin and digital currency.
Here is a short video from bitboxy detailing the basics of Bitcoin http://youtu.be/M5LFmjJgpts. Be sure to research and understand where the best entry point into Bitcoin is. If you are already conducting business in Bitcoin, there are plenty of ways to improve and become more efficient.The best website to research information and services for Bitcoin. Bitcoin and Business – It’s a Natural. When you need to find information or services to earn Bitcoin, find them at Bitboxy.com. Bitcoin + Business = Bitboxy. This article is copyright protected.