Getting started with Bitcoins
If you are new to Bitcoin, then I would welcome you right at this spot for some general facts. For the beginners, I am sure that Bitcoin would probably be coming up as a confusing and daunting thing to learn about.
Many years back Paul Krugman, one of the famous economists, came up with a prediction related to the power of internet. In accordance with his prediction, the internet will start working on the slow mediums.
In 2005, it was much clearer that the impact of the internet over the economy has been much greater as compared to the fax machines, proving as a huge innovation to the world. It would be appreciable if you would be looking back and praising the technology at the very time of its beginning. How it influenced the world and opened new opportunities for markets and finance to grow and increase their spread.
There is a greater percentage of Bitcoiners in the whole world as the individuals who are actually interested in the reliable payment system. You should not be hitting your head on the pros and cons of bitcoin. But rather you should be putting all your attention on Bitcoin and the networking of Bitcoin as the money and the World's first true decentralized economy.What to know about Bitcoin?
It was launched for the first time in 2009. Bitcoin has come about to be one of the first cryptocurrency and the first use of the blockchain technology. It is defined as a digital currency. It is all aiming to fix away from the global finance that is often known by the name of “bank of the people”. It does not need the requirement of a third party provider, such as PayPal or a bank.
It can be all created as the medium of the alternative option to the regular / fiat currencies (such as US Dollar or Euro).
Bitcoin can be used in manual transactions such as for purchasing goods/services or receiving money. It is also highly liquid and one can easily convert Bitcoins into cash. And it only takes a few minutes to complete Bitcoin transactions.
- It has a unique feature by which it allows the users to retain their inherent value while converting their Bitcoins to fiat currencies such as US Dollar and Euro.
- It is a unique currency with upholding popularity and trending acceptance rate all over the globe. There are so many merchants who accept Bitcoin payments. People are intentionally much more inclined towards Bitcoin more than any other currency.
- By using this medium, virtual transactions become easier and more profitable rather than regular currencies. Bitcoin works over under the blockchain technology and is decentralized in nature. It does not require any transaction fees or red tapes to navigate, as for example with the credit card payments, as well as ATM cash withdrawals. The transactions are easier simply because of the reason that it is more renowned around the world.
- There is no dependency on creators or political agents. It is not created by any state entity or any governmental organization. It is independent of any political influence.