BITCOIN For The Future 

 

A New World Currency                                                                  Several currencies exist across the world today. The United States Dollar is used across its’ fifty states and additional territories. It is also accepted worldwide as a means of stored value, a means of exchange and a unit of account. The British Pound is used on all of the British territories and also worldwide. The European Union has its own currency and many other unions worldwide have their unique currencies. New currencies are beginning to emerge as alternatives to the traditional and Government backed currencies.

For centuries the original means of exchange called bartering where the exchange of goods for other goods and goods for services were the only means of exchange. The use of seeds, grains and other important foods were exchanged for clothing, land, camels, horses and cattle. 

Gold, silver, other precious stones and metals were discovered and mined by the privileged few. A great value was placed on them because they were not to be found just about any and everywhere and the effort to mine these precious minerals had to be rewarded handsomely. These valuable currencies evolved from bartering and have been traditionally used as the means of exchange for centuries also and to some extent, are still being used today.

Who Controls Traditional Currencies

Government backed currencies such as the Dollars, the Yen, the Pound, Euros and other such means of exchange evolved from the use of precious stones and metals which were too heavy to carry around especially for large transactions. Thus the use of paper money, silver copper and alluminium coins that are, much lighter were instituted. These means of exchange have been controlled by the Government, central banks, rich individuals and organisations which give them awesome controlling powers over those who have little or none at all. Therefore bad economic decisions cause collapses worldwide and affect us all.

Digital Means of Exchange

Currencies or cash cross borders and is also exchanged, bought and sold in the marketplace via currency exchanges. They are traded by countries, banks and individuals at trading houses called foreign exchange trading houses. These traditional means of exchange are tangible, in that you can hold it, feel it, put it in your wallet or purse and exchange it by hand as well as trading it digitally, for goods and services. Digital means of exchange and currencies such as micro-soft points, western union points or loyalty points, that are not tangible but carries value have been around for some time now and can be exchanged for cash or goods.

Plastics

We have been using Visa, Master-card, pay-pal and many other digital means of exchange which eliminates the need to carry around large sums of cash for transactions. These digital means of exchange are said to be safer than cash. Purchasing shares, stocks, bonds or even tendering a check are means of digitally transferring value between the customer and the vendor without the need for tangible currencies exchanging hands. Bitcoin is now the newest means of digitally transferring value online between customers and vendors for the exchange of goods and services.

What is Bitcoin                     

Bitcoin is the world’s first decentralized digital currency. Decentralized, meaning it is not controlled by governments, central bank groups or rich individuals that can shut it down, freeze it or disrupt it on a whim. Digital in that, it is an online network of virtual and intangible currency. It is depicted by the symbol of a gold coin however it is strictly a digital coin.

The bitcoin is not exchanged by hand to hand transactions. You will not be able to carry around bitcoin in your purse pocket or physically send it by post or courier. It is a digital currency where it is sent, received digitally online between individuals and businesses via a computer. Its’ value rises and falls like stocks, bonds, the traditional currencies and other monetary commodities.

One Bitcoin is an encrypted code of thirty, digital characters, computer generated by the solving, of complex equations that evolves into a currency once a monetary value is placed on it. This decision was made by a group of individuals without controlling interest, deciding what value to place on it and so the Bitcoin was born. This process is called digital mining, similarly to the mining of gold or silver which is then used as a means of exchange.

The currency is likened unto a claim of gold where anyone can mine his own bitcoin by using a computer and specially designed digital mining hardware. These are then linked to the bitcoin network where, the individual’s computer receives, processes and solves complex mathematical equations thus generating his own bitcoins. 

Transactions are done by sending and receiving bitcoin codes digitally. This can be done via your desktop or laptop computers and your smart phone. The bitcoins are used as a means of exchange very much like cash without a third party control. It is therefore owned by everyone who joins and starts their mining process. I will even go a step further and call it the people’s money.

A Sweeping change

A myriad of changes take place in the world today and bitcoin is one such change. Our fore fathers were geniuses and giants of inventions, new discoveries and new technologies. They had a hands-on approach at developing machines, equipment and other technologies that makes work easier thus changing lives.

Similarly today, we have geniuses and stalwarts of technological development that are advancing the speed and efficiency at which we do things. The young men that started Google, Twitter, Facebook, Apple, all the numerous modern inventions and technologies are the geniuses of our time. They make astonishing and significant changes in our lives at a pace where the uninitiated is left standing in awe of the changes he sees.

The world is ever changing and many things within it continue to evolve with great frequency. The dynamism drives us to get with the changes, learn the technologies or be left behind. We shudder at challenges to the status quo and are skeptical to anything new that comes along. Oftentimes we gravitate to these changes only when we see them working for others.

Facebook, Google, Twitter, and others were seen as inventions that would not get off the ground and so these great inventions struggled for four to six years before they skyrocketed into the stratosphere becoming multi-billion dollar entities. If most of us had bought shares in those companies at the start, we’d be sitting pretty today. As the world turns, many opportunities are opened up to us. Bitcoin is one such opportunity that should not be missed.

Since the advent of bitcoins, other digitally mined coins have been created. These coins are similar in nature to bitcoin but are of a lesser value. The bitcoin is used as the bench mark to all the other digitally mined coins, more on other coins later.

Where to keep Bitcoins

As this  digital currency grows in popularity, there is an increasing number of ways to get bitcoins. First you you need somewhere to store your bitcoins. Being a digital currency it cannot be stored in the traditional banks. All transactions take place digitally online so an online wallet is where you would keep your bitcoins.

The bitcoin wallet is a means of storing virtual bitcoins/cash online. Similarly to the other e-wallets online, you access the particular site, signup with your true personal details, create a password, verify your status via your email and then you are in. Be sure to enter your true personal details and record by hard copy all the login details. Failure to do this can result in losing your hard earned, precious cash.

The Block Chain is an online bitcoin store. It is safe to store your coins here.

Coin-base is another online store that is owned and controlled by every bitcoin member.

How to get Bitcoins

Bitcoins can be bought and sold just like stocks and conventional currencies. bitcoin rises and falls in value and is used as a means of storing value. You are able to buy when it is low and sell when it is high thus making a profit.

BUY AND SELL BITCOINS

In order to purchase bitcoins using Dollars Pounds Euros and others you use a Coin Exchange. It is an online marketplace where currencies are bought and sold so as to enable the holders of one type of currency to purchase another currency for business transactions in another country other than his own. This marketplace is also used to exchange digital currencies such as Paypal, to US dollars, Perfect Money to Bitcoin and so on. CEX.IO is a coin exchange and Coin-base  is both an exchange and an E-wallet combined. There are numerous coin exchanges online and offline where these transactions are done.

Get free Bitcoins

BITCOIN FAUCETS. You can obtain free money to your account from sites that sends you free bitcoins just by entering a captcha code. You are then asked to verify that you are not a robot after which you receive Bitcoins to your account.They are free to join and will send bitcoins to your account for completing other simple tasks. Bitcoins are paid out every 5 min, 10 min, 15 min, 30 min, 60 minutes or 24 hours per respective sites. Some of these sites include;

free bitcoin

Free Dogecoin

bitminer

BITCOIN PTC SITES are also free to join. You are able to view advertisements or perform simple tasks and get bitcoins to your account. Later on they can be transferred to your online wallet.

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