Launched in 2009 by an unidentified person or group known as
Satoshi Nakamoto , bitcoin started it’s journey through internet.Bitcoins are
encrypted sets of digital currency.You can call it as an open source currency.It
is also known by its abbreviation BTC.It is powered by a peer-to-peer network
similar to torrent file sharing networks.It cannot be manipulated by
governments and political parties.It cannot be inflated or deflated manually.No
central bodies issues bit coins too…All transactions are directly between the
two parties involved with no financial institutions in between.No wonder that
bitcoin enthusiasts are growing tribe.They seek to free currency from the hands of government
or financial institutions.?Governments do not always manage money wisely.right?
Another reason bitcoin are famous is that payments are that the bitcoin payments are
irreversible. There were some 11 million
bitcoins in existence,with 25 being added every eight minutes.Around the year
2140,there will be around 21 million.That is the max currently permitted by the
system.
HOW and WHY BITCOINS?
Bitcoins can be broken into small units of upto eight
decimal points and re-transferred like e-mail.Life made easy.Don’t you think
so?They are used to pay for goods and services on websites that accept them. There
are portals which provides bitcoin payment gateways which can be integrated in
your website for free.Coingate is one such payment gateway which I came across recently
and it will be useful for developers.There you can accept payment in bitcoins
and you will receive it in rupees.
There are trading platforms for bitcoins like
buysellbitco.in,rbitco.in and few more.The thing is that not much people are
aware of bitcoins and always early adopters are highly benefited.It sounds
like an opportunity that no Indian e-commerce portals accept bitcoins.People
use it for oversees business.Many online stores offer discounts on bitcoin
payments to increase their coin holding
for future. Demand for bitcoins,the virtual currency maintained by peer to peer
networks in India is largely from
speculators.
There are lot more to share.about how to get and use
bitcoins,about bitcoin wallets,the dark side of using the emerging digital
currency,how to stay safe etc..I will continue in my next blog posts.Stay
tuned.
BIT ABOUT BITCOINS – THE DIGITAL CURRENCY
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Launched in 2009 by an unidentified person or group known as
Satoshi Nakamoto , bitcoin started it’s journey through internet.Bitcoins are
encrypted sets of digital currency.You can call it as an open source currency.It
is also known by its abbreviation BTC.It is powered by a peer-to-peer network
similar to torrent file sharing networks.It cannot be manipulated by
governments and political parties.It cannot be inflated or deflated manually.No
central bodies issues bit coins too…All transactions are directly between the
two parties involved with no financial institutions in between.No wonder that
bitcoin enthusiasts are growing tribe.They seek to free currency from the hands of government
or financial institutions.?Governments do not always manage money wisely.right?
Another reason bitcoin are famous is that payments are that the bitcoin payments are
irreversible. There were some 11 million
bitcoins in existence,with 25 being added every eight minutes.Around the year
2140,there will be around 21 million.That is the max currently permitted by the
system.
HOW and WHY BITCOINS?
Bitcoins can be broken into small units of upto eight
decimal points and re-transferred like e-mail.Life made easy.Don’t you think
so?They are used to pay for goods and services on websites that accept them. There
are portals which provides bitcoin payment gateways which can be integrated in
your website for free.Coingate is one such payment gateway which I came across recently
and it will be useful for developers.There you can accept payment in bitcoins
and you will receive it in rupees.
There are trading platforms for bitcoins like
buysellbitco.in,rbitco.in and few more.The thing is that not much people are
aware of bitcoins and always early adopters are highly benefited.It sounds
like an opportunity that no Indian e-commerce portals accept bitcoins.People
use it for oversees business.Many online stores offer discounts on bitcoin
payments to increase their coin holding
for future. Demand for bitcoins,the virtual currency maintained by peer to peer
networks in India is largely from
speculators.
There are lot more to share.about how to get and use
bitcoins,about bitcoin wallets,the dark side of using the emerging digital
currency,how to stay safe etc..I will continue in my next blog posts.Stay
tuned.
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