Bitcoin is a digital currency that is supported by P2P network of computers across the internet that acts as servers to process financial transactions of this currency. Simply put, Bitcoin is a digital token that can be sent electronically from one user to another regardless of where they are in the world. It is a way of making or receiving payments similar to PayPal, Skrill, and other online payment methods. The total quantity of bitcoins is capped at 21 million. There is no one person or company that runs the Bitcoin network unlike other traditional payment networks such as Mastercard, PayPal, or Visa. Instead, networks of computers all around the globe keep track of all Bitcoin transactions – similar to how the internet itself works.
Since there is no central authority governing it, Bitcoin is able to run outside of any government control or company. Some people believe that Bitcoin is a scam or a Ponzi scheme. On the contrary; once you understand what it is and what it has to offer, it is clear that this worldwide currency is for real. Bitcoin is how the future of money might be like.
Bitcoins share quite a few similarities with other currencies; they can be traded for good or services, they can be used by both retailers and individuals, and they can be used both online and offline. It was created back in 2009 and since then, this currency’s transactions are made with no middle men – meaning no banks are involved. It is becoming more and more popular each day. You can be able to purchase your meals, subscribe to an online dating service, or even do your grocery shopping online with bitcoins.
How much is a Single Bitcoin Worth?
To answer this, I would like you to think of bitcoins as gold. The prices fluctuate constantly and are determined by open market bidding on exchanges. Bitcoin’s value is similar to this. The value fluctuates constantly and is determined by bidding on Bitcoin exchanges. Since 2009, the value of Bitcoin has been rising steadily. By 2013, the price of one bitcoin had risen to $1,242 and has recently hit a high of $2,000. Do note that the prices rise and fall in extremely volatile manner making it near impossible to estimate how much a bitcoin will be worth after a couple of hours. Taking the example of gold as mentioned earlier, it is incredibly hard for us to estimate the value of it at any one point. But one thing that we know for certain is that its value is driven by scarcity. Using this trail of thought, it is clear that bitcoin’s value is also driven by scarcity and since it was stated that only 21 million coins would ever be created, the more sparsely they are spread all over the world, the more valuable they become.
Why Bitcoins?
This cryptocurrency is a product of modern technology and many people have had issues wrapping their heads around having to purchase something that is not tangible. The one great thing about this cryptocurrency is the fact that it is a global currency with a traceable system. It cannot be forged nor can it be stolen as each bitcoin has a unique data stream that supports it. This currency can be used to buy merchandise anonymously. Since this worldwide currency is not tied to any government, country or regulations, international money exchange is incredibly easy and cheaper. It also provides a good saving platform for small businesses as they will be freed from credit card fees. We have already seen bitcoins become increasingly popular in the black market since it’s untraceable. Real-world transaction is now slowly catching up and we foresee Bitcoin becoming a global digital currency for the future.
How Do I Get Bitcoins?
Unlike dollars or Euros, bitcoins as mentioned earlier are not backed by any government body. This means that they are not linked to any issuing authority or any sort of central banking system. This currency is available online and driven by mathematics and ingenious encryption protocols. If you wish to use this digital currency for your online transactions, you first need to purchase bitcoins – this can be done either through your credit card, your bank account or even with cash. Once purchase is made, you will receive your bitcoins directly into your Bitcoin account. Once you have them in your account, you can use them to directly send or receive payments directly from a buyer without any go-between such as credit card companies or banks. For you to start accepting this digital currency, you will need to create a Bitcoin address. This is relatively easy to do as you only need to log on to bitcoins website and register – it can be done anonymously by just about anyone with internet access.
Where do You Buy Bitcoin?
There are companies in most countries that sell Bitcoin in exchange of the local currency. In the United States, Mt. Gox is the largest bitcoin exchange platform that allows people to buy or sell bitcoins using different currencies. Another popular platform is Coinbase. It is among some of the most popular companies that deal in such transactions. All you need to do is open an account with Coinbase and the company will then link to your bank account and sells the coins to you in exchange for dollars. Opening a Coinbase account is similar to opening a bank account – do keep in mind that you will be required to verify your identification. For anyone wishing to remain anonymous, we would recommend that you take a look into localbitcoins.com. This website connects local buyers and sellers to each other in exchange for cash.
Transfer Bitcoin?
Individuals also have the capabilities of transferring their bitcoins to someone else. People can easily send bitcoins to each other using their laptops or mobile devices. It’s actually very similar to how one sends money digitally.
Mining for Bitcoin?
Say you would prefer to find another way to acquire bitcoins without having to buy them. Bitcoins can be mined by powerful computers that complete complex math problems. How this works is people compete to “mine” bitcoins using their computers to solve math puzzles. This is actually how bitcoins were actually created. Bitcoin uses are infinite; however, its structure remains concrete and open source. However, the value of each Bitcoin is disputable. When more and more people log their laptops on to “mine”, lesser and lesser bitcoins will be available. In theory, Bitcoin mining becomes harder and harder. This means that it now takes more and more energy (power from your computer) to process math puzzles and solves the blocks of data.
Therefore, when it comes to mining, the value of a Bitcoin may be related to the price of energy consumed and the cost of maintaining this network. If you think about it, it only makes sense that since there are more and more computers been added to the network daily, the workload on the initial nodes should ease. From here, we can perhaps speculate that the price of bitcoin will increase exponentially over time. Especially since power costs will only rise in the future.
Recently, specialized computers and mining PC’s are becoming available to individuals from companies such as Butterfly Labs and many other companies which harness ASIC (Application-specific integrated circuit) technology. These machines will dominate all others and render most other PC’s worthless as they have been specifically designed for one task only; to mine Bitcoins up to 50 GB/s. Whether these machines are real or a scam is yet to be known. However, if they are legit, the individuals who already pre-ordered will dominate the Bitcoin market. Currently, a winner is rewarded with 25 bitcoins approximately every 10 minutes.
Currently, there are 21 million Bitcoins created but the way they are becoming increasingly popular, I have a feeling that they will rise in quantity. This is because most people who have already acquired some bitcoins and not reselling them or using them but they are merely hoarding them waiting for the day they will become more valuable for resell. This is typically what happens with gold as well. Within no time, there simply won’t be enough digital currency to go around and not enough work or transaction data for the increasing number of miners each day. We can only speculate as to what will happen but for now; it is a good idea to mine and or purchase bitcoins as they will be the future financial currency acceptable worldwide.
How Do I Store my Bitcoins?
To simplify it, think of how your money is stored on PayPal. It is technically a virtual bank account that allows you to have access to your money (send or withdraw) at anytime. The major difference is that with Bitcoin, there is no third party or fees required for the transaction to be successful. Bitcoins are stored in a digital wallet which only exists on a user’s computer or in their personal cloud. This virtual wallet will be able to receive bitcoins from another person. You will also be able to send this digital currency to another individuals Bitcoin wallet. You will be able to pay for goods and services or even opt to save your money just as you would in a traditional bank setup. However, unlike owning a bank account, your bitcoin wallet is not insured by the FDIC. Some major drawbacks to storing your bitcoin wallet in your cloud is that it can get hacked and your coins can be stolen. However, storing them on your home’s computer can deem tricky as you might delete them by mistake or viruses might destroy them.
Is Bitcoin safe to use?
This worldwide currency has become a favorite amongst drug dealers, hackers and people involved in illicit activities. This is because each bitcoin transaction is mostly anonymous. Granted each transaction is recorded, all names of buyers and sellers remain concealed and hard to trace. This means that people can trade just about anything under the anonymous cloud and tracking anything illegal back to them is near impossible. As mentioned, all transactions are recorded on a public ledger called a “blockchain”. Financial authorities and law enforcement can access the blockchain and use it to track criminal transactions.
However, the problem with using this type of currency is the fact that criminals can opt to not associate their true identity with their bitcoin address. When this happens, the trail runs cold and there is no way for the authorities to track down the criminals. To make it harder, there are some Bitcoin laundering services known as tumblers. Tumblers tend to mix transactions together in order to make it extremely hard for authorities to track down a single transaction. Most American exchanges require an individual to register with their real-world identity. However, this is still not the case in most countries worldwide.
Who Created Bitcoin?
Your guess is as good as ours. Bitcoin was first introduced back in 2009 by an anonymous created known only as Satoshi Nakamoto. There have been several people who have been identified as the creator of Bitcoin but up to date, not one has been confirmed or taken ownership of creating this worldwide digital currency. After Bitcoin was introduced in 2009, Satoshi was said to have disappeared completely from social medial two years later. This person – he, she, or they – now has no authority or control over Bitcoin. The search for Bitcoin’s creator continues.
Final Verdict
This crypto-currency is quite a fascinating concept. Sending and receiving bitcoins is as easy and fast as how you normally send out an email. You can use your computer or your smartphone to complete the transaction. The concept behind Bitcoin is relatively simple and easy to understand and by cutting out the middleman, you will pay far less during transactions. Each party involved also has the ability to maintain anonymity if they so wish. Simply put; Bitcoin has provided individuals with an easy and untraceable way to conduct business. Whether this is a good thing or not; all we can do is wait and see.
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Share your thoughts in the comment area provided at the bottom of this page!
Thank you Friends,
Hey Tony! This is really detailed! I really found it helpful! I know a lot about Bitcoin and the crypto world! It is really something anybody with great business mind would want to invest in. Currently one bit coin is about Forty thousand dollars, It has had an increased of almost 10k dolls in one wekk. Now imagine you bought at that time. Thats mad profit
However, I am always open to learning new things. I think its great that you have intentionally worked at learning as much about social media as you can and then want to help others. I am going to contact you and see what I can learn. Btc has been a very good idea for investment and those who have been in it for. long will be very happy right. Ow
HI there! Amazing review! Personally I have heard about bitcoin and I had doubts about it! Well after going through this informative review my doubts have been cleared. I had fun going through this review! It was very helpful to me. Who knows I would definitely give it a try!thanks again.
A very good explanation of what Bitcoin is. I basically knew it was a modern currency that was not tied to old systems. In this article, however, I learned much more. I am especially interested in the part that the creator of Bitcoin is unknown and there is a big secret around this person or persons. Very uncharacteristic of today, when everyone loves to take credit for successful achievements.
Congratulations to the author for a great article!
Friendly greeting,
Nina
Haha thanks for the article my guy! Ya know, I’ve heard a lot of good/bad things about Bitcoin… it’s mixed really. No matter how good it might be, I don’t think it’s an opportunity I’m willing to take. I’d rather put my time and resources into a more proven method.. affiliate marketing!
I’ll share this article with some if my friends and I know it’ll be if great help., A lot of thanks to you, Thanks for sharing this amazing and interesting article, it is of great advantage to have come across this, it is good and nice, it is really understandable and I lie it cos it’s resourceful thanks for sharing
Wow! you have so much knowledge and information on Bitcoin. It amazing how bitcoin functions and transacted on the internet business. how I wish I knew the future of this digital currency back at the 2013. As I am speaking now, Bitcoin is is over $30000. I pray it comes low so I purchase some
Having so much information about bitcoin here is just amazing to see. There is so much more to learn and develop over the time too. This is really great to see and I believe that I can develop well over the years and rest on it. This is amazing to see. Thanks for sharing here with us. Thanks
Thanks a lot for sharing this amazing and wonderful opportunity to improve my standard of living and get to make more cash from the comfort of my house without much stress I really appreciate this post and I will love to try out the online marketing platform.. Thank you very very much.
Bitcoin is a very good place you can tell us how we can get a crypto currency that is very good and can work to help other people to make some good money at sweet rate andy’s I t g y people yeah I know I was able m u life h at me when it happens at halloween costumes and I have to be at the airport n.
Unfortunately Bitcoin is almost completely elusive to those of us who can’t afford to buy it or don’t have the resources to mine it. Despite the currency not being easy to acquire, I enjoy observing it’s slowly emerging as a global trend, and becoming a gradual impact on the global economy. It will be interesting to observe the future of Bitcoin and other crypto currencies as Covid 19 has created a greater necessity for a cashless society. I have recently been following a new crypto currency in the making called PI (pie).
Bitcoin! Prior to finding this article, I have been very skeptical about Bitcoin in fact cryptocurrencies at large especially the trading part. I’ve heard some people complain about losing their money trading Bitcoin and other Cryptocurrencies. This article just opened my eyes to what bitcoin is and the safe and best ways to get it. The safety aspect is very good. Being able to make purchase anonymously without leaving your credit card details on other people’s website it really cool.
Tony, I agree with her, this article is well detailed, she did justice to the topic.
Bitcoin is indeed getting very popular lately and so many people are venturing into it, I was surprised I didn’t know this much about the cruise currency until I came across this article. Thanks for sharing this here. It was a shocker as well as an eye opener as well, I am definitely sharing this to other people as well
Cryptographic money is an expert and well known thing now that nearly everybody knows about due to the worth it has had the option to work after some time and it’s acceptable that you’re ready to share about it here. This will illuminate individuals, It is exceptionally smart of you to share this article here, if is quite intriguing one to peruse,
I have heard about Bitcoin earlier but didn’t know that much about this currency, his article is very helpful for me. The total quantity of Bitcoins is capped at 21 Million, wow that’s amazing. I wish to use this digital currency for my online transactions and I will sincerely purchase Bitcoins.
the bitcoin currency, as explain here seem like the gold, there is so much misery behind this currency, the way the system operates, is so unique seeing, the transformation or the increase change of warm is also very alarming, am so interested in investing my money on this currency, knowing that it is now globally acceptable.
Being one of the mostly used crypto currency, and one of the mostly reliable means of online trading. Bitcoin currency has made it easier for traders to trade from different parts of the world. It also helps in security as you don’t have to travel with a lot of cash at hand, but through your bitcoin wallet then traded into the desired currency upon arrival.
Hi Tony,
Thank you very much for this well detailed and informative and educative article. Nothing can be more perfect than explaining this with so much detail. Bitcoins has shown it’s relative activity in the market and one needs to have this knowledge on this powerful cryptocurrency. Thank you once again Tony Lee
I almost got into bitcoin like 4 or 5 years ago when I first started college. It seemed like a good idea and if I had done it, it would’ve been. Not long after a lot of people began to lose their investments and things weren’t looking too hot for bitcoin. My first rule for investing is that if I don’t understand it, I shouldn’t put money into it. Datamining and block chains are abstract concepts to me so I avoid them
Hello there, thank you so much for sharing this. this is a very awesome piece and a very detailed one. I’m really happy I came across this. Learning about bitcoins is so exhilarating. Well I won’t for once say I’m a typical crypto person but reading about this just made me realize a lot of things and maybe one day I would love to venture into cryptocurrency bitcoins precisely
Hello Tony, investing in various line is good but investing n crypto currency happens to be very interesting and bitcoin have been a top class. I like your single explanations broken down for us to read. I think you are indeed correct that digital currency is how the future of our currency will be. I’m still a bit skeptical of digital currency.
I heard several times before that Bitcoin might be our future currency, but although I have read several article about it, I don’t understand much about Bitcoin and how it works. First of all it seems to have an extremely high value – or did I misunderstand something from those Bitcoin apps or platforms …? Looking at your explanation, I guess Bitcoin is truly expensive, but I think that if you own some Bitcoins, that you can use them or even accumulate them, right?
I must say that your explanation was by far the clearest to me. So, I’m relieved to say that I finally understand it! 🙂
It seems indeed a little risky to store your Bitcoin wallet on your computer or phone. That is the only drawback I see. Since it is stored online, it is at risk from hackers … I hope that some solution will be found for that.
Hi Tony, thanks for another wonderful discussion. Bitcoin seems to have a tremendous amount of information floating online, but most of it is overwhelming for a newbie. I like your single explanations broken down for us to read. I think you are indeed correct that digital currency is how the future of our currency will be. I’m still a bit skeptical of digital currency, but I know this is my own insecurities in a new market – evidenced by those who have had massive success so far!
Bitcoin is the fastest growing crypto currency and it doesn’t look like there is any stopping it any time so as it keeps on increasing in value. I have been trading bitcoin for a while now and i must say it is really worth it to make and investment on bitcoin as you will see your profit grow high
Hi there! I certainly do agree with all you have post here about bitcoin. I am currently investing in bitcoin because I like to do transaction privately since I am too afraid for my personal information to be compromised. One thing that worries me about bitcoin though is how the prices fluctuates. Sometimes it’s good and sometimes it’s terrible, overall it’s a very good platform
Crypto currency is a very professional and popular thing now that almost everyone is aware of because of the value it has been able to build over time and it’s good that you’re able to share about it here. This will enlighten people, It is very thoughtful of you to share this article here, if is very nice and interesting one to read through,
This is really good to see here ad I value how you have helped to explain all of these here. It can not be more better than the way you have simplified this here bitcoin is a lot more and it I just starting out. That is the good thing about it. Just hoping for more things to come and let us see how it develops over the time period. I like all hat has been written here
When I saw the heading of the article, I was like let me see where this is going because I believed almost everyone knew about Bitcoin but at last even I didn’t know enough and as much as I thought. Especially Bitcoin mining, I’ve always heard about it but now I know how it works. Thank you
I have known about Bitcoin at a very tender age of its inception and I am very mad at myself that I didn’t invest in it at that time because I know that if I had done that at that time, it would have really helped me a lot. Nice now to see the way you can tell us all about this.
Hi Tony, thank you for sharing this article about bitcoin. To be honest, I find it incredibly hard to get my head around the whole bitcoin thing. I have looked into to it several times but never got really into it though to gain a better understanding. I have to say that after reading your article, I have gained more understanding, and I always feel curious about how it really works. Realy, I should try it out for fun and probably while I am trying it out I will be able to visualise it a bit better.
Thank you, Tony, for making bitcoin more understandable.
Jude
This article you have here is so rich in information and details about Bitcoin. You have judiciously written about Bitcoin in this article and I have been able to learn a lot from reading this article. This has added to my knowledge about Bitcoin and has given me more understanding. Thanks for this Tony Lee.
Hello there, Tony! Thank you for posting this article about bitcoin. When it exploded back in the day, I did not know anything about it. I only found out later that there was this spike in the price so those who acquired it earlier on when it was cheaper made a lot of money. But that was about all that I knew in addition to the fact that I missed out on that opportunity. I haven’t had much time to do further research on it, but I am glad I ran into this article which explains everything you would need to know about bitcoin.
Thanks for your Bitcoin review, Tony! I learned first about Bitcoin from a cryptocurrency based financial institution known as Wirex a couple of years ago. One thing about Bitcoin is that it brings about investment opportunities for traders. Being the leading platform in the cryptocurrency world, it keeps waxing stronger by the day.
Recently, PayPal partnered with Bitcoin, meaning that you can now trade PayPal with Bitcoin which has been a long-awaited investment opportunity. I want to believe this is the right time to invest in Bitcoin
It is a great post, Tony. Actually, I learned what bitcoin was from a Wired article about ten years ago. At that time, only a few dollars could buy a bitcoin. Your post reminds me of the past. I should have bought some bitcoins. But having said that, your article explains Bitcoin very clearly.
I have interested in acquiring BitCoin since I first heard of it but I have been unable to find any solid information on what it is, how to buy it, and how to use it. Mostly what I’ve found are articles that are far too technical for me to understand or (what would seem to be) unreputable companies that want to pay me in BitCoin for surfing sites or whatnot.
I think I now understand it to be both an investment and a way to acquire goods/services. I also understand how to begin investing. I appreciate you publishing this information. Your writer prepared an article that was very thorough and easy to understand.
Bitcoin is really gaining popularity of late and many people are purchasing the crypto currency as well, thus making articles like this as precious as gold. I thought I knew a lot about Bitcoin until I came across this article. It was really enlightening and also very educating. I also shared it with my business associates as well. They also enjoyed it.
Bitcoin is everywhere nowadays!! While I do believe you can become profitable through Bitcoin, there are so many scammers out there too! Scammers have an easy platform to work on because so few people know how to trade. Myself included, I got scammed. If I ever try Bitcoin again, I will spend the time to learn it myself or go through a trusted friend.
Thank you for sharing. Bitcoin is not all scam and also it’s not for everyone but if you are not an expert, it will be difficult for you to trade. Last year I have introduced cryptocurrency on Robinhood but I couldn’t run even when watching a lot of movies on youtube. To be honest , It a nice trade business but I will advise you to take your time to learn this and check if you can accept the risk of losing money
I already knew that you would come to this topic of cryptocurrency. And the truth is, it is masterful! Thanks for making it so clear. I have enjoyed reading your article, and I have finally learned what bitcoin is, how to access this virtual world currency, and what commercial relationships are the ones that carry out more transactions with bitcoin. Then ha! is an article written by someone you hired to do it! Excellent choice! Thank you once again; I give you five!
Hi Tony,
Bitcoins are an investment with crypto I have followed; l have earned a great amount from this investment. Currently, it is at around $25K in US Dollars. How far will it go? Hard to say. She did a great job explaining Bitcoin, from the founder to the current market value. Is it a good investment? One never knows how high this coin will go to. Just glad I own a few Bitcoins. I think I will sell them and see how the coin fares. Sometimes you need t take the profit and enjoy it.
Just my thinking..
Joseph
Thank you Tony for this wonderful article. I personally, have been hearing about Bit coins and been reluctant to find more about them. This one has helped me A LOT! I have learnt that I can actually purchase them using my credit card or bank account or even cash itself.
But when I saw the cost of 1 bit coin, as of 2013, at $ 1,242; It made me worry about the low income earners. Will we be able to it? But as you said that prices fluctuate, maybe the prices will decrease.
In my opinion, this global pandemic has set a stage for the introduction of Bit coin currency. More and more of these articles should be published and shared with the masses because most are illiterate about the concept.
Whoever monitors this currency, though, has to ensure us about safety. We fear hackers stealing our coins.
Whoever you hired to write the article did a great job! I learnt a lot from her submission! In future editions, please list for me credible Bit coin companies in Uganda also.
Thank you!
I like what you said about bitcoin providing a good saving platform for small business because they will be free of credit card fees. I am a very private person and bitcoin gives the option of anonymity. Because you can do a transaction with someone from a different part of the world.
Tony thanks for such a detailed text. Bitcoin is something that is a very big topic and there are not many people who understand it. I think when it comes to bitcoin we have to be very careful because there are a lot of platforms that are scams. This is extremely easy in the case of bitcoin because people don’t understand much about it. I learned from my friend who works with bitcoin that before he started dealing with it, he had to go through a few months of education so he would be able to know how bitcoin works. I can recommend everyone to be vigilant and well informed before embarking on a bitcoin business.
Hi Tony,
I came across this article whilst browsing another part of your site. This caught my attention as my husband dabbles in trading. Bitcoin is something that baffles me. I can’t quite get my head around it. My husband talks about it and I just glaze over. I still can’t quite get my head around the fact that it is a ‘real thing’. This article kind of made me stand up and take notice instead of having my head in the clouds! I think I’ll have to investigate further and maybe even listen a little next time…. Thank you!
Hi, I trade Cryptocurrecy for a living and can say that most of this info is correct however the price of Bitcoin has recently been $10,000 (Not $2,000) and is currently over $19,000. It is obvious that the person who wrote the article does not follow BTC.
Also Bitcoin is traceable, there is an online ledger that records the transaction it is only your name that can stay anonymous, how do you think they caught the owner of Silk Road? The FBI traced it back through the ledger and IP addresses etc… So yes you can stay anonymous but it is traceable and if the cops want to find you they will.
Anyway your article is mostly right and it is informative but I would say to check the facts in your articles well if you are going to use someone else to write your content
Crypto Dave
Well, I certainly do agree with all you have post here about bitcoin. I am currently investing in bitcoin because I like to do transaction privately since I am too afraid for my personal information to be compromised. Recently its price spike up in the market. Just like what you have said, its price fluctuates randomly that you could see an ups and downs to this bitcoin investment. Well, I hope I can stock a lot of these in the future.
I have friends who are in the business. Bitcoin investment and all. Buying, trading, mining: those are terms I’m familiar with. Having friends who invest in bitcoin still doesn’t ease my mind though. The whole thing seems a bit shady to me and frankly it’s confusing at times especially the mining part.
Hi,
Interesting article. I hear all the time about getting involved in bitcoin trading but it seems to me that it all sounds a bit shady.
I have a question, if the number of bitcoins is fixed – at 21 million but people can ‘mine’ for bitcoin, which essentially is creating more bitcoin, does this not then reduce the value or am I missing something?
Interesting article though and I definitely know more about bitcoin,
Thanks
Hello Tony! From my experience, the advantages of this coin are high payment freedom, transparency of information, high security, reduced risks for traders. Among the disadvantages we highlight the risk and volatility, the lack of notification and understanding, with incomplete functions, but which are developing. Thank you very much for the information
Hello there, Bitcoin is something that can be very difficult to understand, when you hear people talking about buying it and mining it it can be confusing. It is something we all need learn alot about and understand as it is likely to become more involved in online marketing and online transactions. Thanks for sharing this awesome article.
Bitcoin is a strange one huh? Considering hardly anybody knows anything about it but are willing to invest just seems a little crazy to me. You might as well go and throw your money down the drain. Tried in the past looking into it but it’s a no go for me now. There’s just not enough evidence to back it up that it’s safe.
This is a pretty straightforward to the point post on what bitcoins are. I have friends who invested in bitcoins too and i’m always curious as to how this works. There are so many types of bitcoins that are in the market and so many companies are selling them. I wonder if you provide specific examples or places or means for those who are interested in investing in bitcoins. Much appreciated.
This straightforward topic may attract readers to the article.it may also have problems with ranking the post in search engines as it may be a very common keyword. This topic is a very compact type and it helps the writer to subcategorize the content article.So it creates a pathway for readers to go through the article.
The characters are minimum in the topic.it generates a clear meaning to a reader. if the reader won’t know the term, then they try out to find the meaning of the keyword. So it is an indirect guide to read the article for the readers
Awesome and informative article! You have outdone yourself on this one. Thank you for sharing it with us. I’m sure many people out there really enjoyed reading it Because people have man questions around bitcoin.
I’m not familiar with bitcoin. Reading your article open my mind more and I start to understand the bitcoin world a bit. It also takes time to learn and understand it.
Hello there Tony, this is a very awesome piece and a very detailed one. I’m really happy I came across this as the information it contains can be very useful to me. Bitcoin is by far the largest and the most common crypto currency there is out there, I do trade Bitcoin as well and it has been going well for me
Thank you for sharing this beautiful piece of information resource. I must say I really did enjoy going to your review as it contains valuable information one needs to be aware of. I think bitcoin is by far the highest currency in the world presently, more people should get involve with the development of the world and get involved in trading and mining bitcoin. You could make a fortune from it
Hello there!
That is really an amazing article to behold for a crypto enthusiast like me. I am happy to come across that amazing article because I love Bitcoin and I cease every single opportunities to know more about it cos my knowledge on Bitcoin is not enough. I have always wondered on how Bitcoin mining is carried out, this article just helped my curiosity to a good extent.
Thanks
I was never familiar with bitcoin. Now I am getting to know one more whereas I too used to think it was a scam.
So in reading your article I’m understanding more of what it is and how it is similar to PayPal so that makes it a little bit more understanding to me.
I’m still not familiar enough to deal with bitcoin as I am comfortable with the way I am doing things as it is. But I may give bitcoin a chance somewhere in the near future.
I have heard on and off about Bitcoin for awhile now, but sometimes it takes getting more familiar with a new concept. I think you did a good job of explaining the ins and outs of Bitcoin. I now have a better understanding on what it is and why people view it as being so valuable. I had never heard about mining PC’s before now. Interesting article.
Hello, thank you so much for this article. It was on point. Reading it as opened my mind more and created a sense of understanding in me. I have heard a lot about Bitcoin, I heard it is a good way of making money, I also learnt that is is hard to operate or utilise. But with the article, all my answers and doubts about it has been completely cleared. I’m happy for this. I definitely endorse bitcoin now.
Bitcoin is something that can be verydifficult to understand, when you hear people talking about buying it and mining it it can be confusing. It is something we all need to take time to learn about and understand as it is likely to become more involved in online marketing and online transactions.
Very interesting article! I’ve always heard about bitcoins but this is the first time I stop to read thoroughly about it. And to be honest it’s hard for me to imagine doing a bitcoin transaction to an anonymous person. What if he or she doesn’t send me what I bought? Who helps in those cases? Or in the cases where your bitcoins are stolen from your computer in the cloud? All this anonymous thing and not knowing who you are dealing with doesn’t convince me at all… but of course, I will wait and see how bitcoin evolves!!
Hello Tony
First off, Great Article, really awesome and informative. This is an absolute epic piece, but that’s what you always crank out Mate, You have outdone yourself on this one. I really needed such a detailed Article on bit coin. I am choked full with information on it. yes even tho there are a lot out there doing all sort of scams with Bit coin, its still worth giving a try
I am looking forward to reading the plethora of articles you put up here.
Interesting article. Bitcoin is for sure the future way to do monetary global transactions without the middle man. However, the fact that it is not tide to any government is worrisome. Since you mention that from 2009, the value of Bitcoin has been increasing, would it mean that buying Bitcoins is an investment if we save them? Not that I would buy them since I would not consider it a secured investment for many reasons.
Thanks for this Bitcoin clarification. For me, it’s very timely because I have just got some Bitcoins as an associate sales bonus.It was quick to swap it for some money.
But I’ve learned that some people only hold Bitcoins because they’re sure they’re going to raise their worth. Some don’t want to keep it because they think Bitcoin could be gone.
Thank you Mr. Hamilton, this information given about digital marketing and precisely bitcoin is very expository, you have indeed thrown more light regarding the bitcoin, it’s really funny knowing that such currency has just gain work wide acceotance, such that countries are beginning to us it as a legal tender.
Thank you very much Tony for such an extensive post on bitcoin…I’ve not really known how bitcoin works until I read this informative article and I must admit it was a really nice article , always well detailed and explained for better understanding and with this I’m looking forward to trying bitcoin…and also looking forward to more wonderful articles from you
Thank you for such an extensive article on Bitcoin. Before reading this post, I was never to sure about the detail of how bitcoin worked, but now I have a lot more understanding I feel more willing to invest.
I think people shouldn’t fall for the theory that Bitcoin is a scam, which is something you find reported a lot by other people, so I am glad this post has been able to see through that.
However, I still think bitcoin is a hugely speculative investment and a gamble, but if pulled off, it can be hugely rewarding. I think Bitcoin is suited to those who are not afraid to take risks with their money, and therefore does not favour those who have limited finances to invest.
Hello there, thanks a lot for sharing this beautiful piece of information here with us. I must say i really did enjoyed going through your review as it contains valuable informations one needs to be aware of. Bitcoin is the leading crypto currency out there and it is a huge task to invest money on it as the profits can be huge
Bitcoin is one of if not the fastest growing cryptocurrency in the world right now which is why I think your article will be especially helpful to a lot of people as it will help familiarize them with how it works, all it is about and also terminologies related to the cryptocurrency. Thanks for sharing this invaluable article.
Hello, I had known about Bitcoin but not this deep. So thank you for offering full information. Bitcoin is an online real state. If we buy bitcoin in 2-3 years before we are now millionaires. Ya, I agree with you a lot of drug dealers and hackers using this method for their transactions. It is a very safe method of transaction because we can’t get details of another person. Thank you for sharing this valuable content.
Thanks for sharing this article Tony it a wonderful information and an amazing fact, I learn about bit coin and crypto currency from you from this post than I have from reading about it from my own personal research, u are a live saver Tony, this makes me see opportunities that lies in bit coin and crypto currency as a whole.
This is a fascinating read – I’ve always struggled to get my head round the bitcoin concept and have researched it, but still remained confused as to ‘what is bitcoin’… this article explains it very clearly and precisely. I’m tempted to now by some bitcoin as an investment as it seems, as stated, that the value will only keep going up…
It is amazing how you have packed so much information about a technical concept in so little space. An excellent introduction to Bitcoin. In terms of safety, you can also store your bitcoin codes on a mobile drive and not on your PC to keep them safe.
In terms of using Bitcoin for illegal activities, my argument is that many criminals are actually working within government structures and are “legally” stealing and manipulating public funds with ease. They can and are creating more fiat currencies that are open for control, abuse, and manipulation for the benefit of the few. Those people high up in the money system have too much control over our monetary system which impacts negatively on the lives of millions of other people. A system like Bitcoin may assist the common people to actually better trace how their Public Funds are being spent and reduce the amount of corruption within government structures.
Many countries especially in Africa are weakened and crumbling under the corruption of the State. Bitcoin might be the answer to help millions of people take their freedom back.
I realize that my comment might be controversial but Bitcoin has to considered from all aspects not only from the viewpoint of people controlling the money systems and fighting to keep it.
All the best
Louis Munro
The crypto currency world is developing and growing rapidly with a lot of people making a lit of money from it and it is very good that you’ve made this article about one of its most prominent which is bitcoin, I’ve heard and read a lot about it, I think it’s nice and it’ll be very good for those who knows about it.
I find cryptocurrency intriguing. I wonder how the other coins, including litecoin ethereum and many more with fare in the next decade. Many of those coins are much cheaper to buy at the moment. Where can I get my hands on a mining computer? I bet they are pricey. I don’t think the anonymous aspect of the bitcoin will prove to be an issue going forward for buyers and sellers. However, once the government starts to tax these coins we may run into certain anonymity issues. Thanks for a detailed explanation of bitcoins. You did your research!!
The Bitcoin is a tempting one to buy and invest in it, but it is also risky consider that any government has authority on it. I’ve worked on the banking system for years and I like to invest in assets or coins that know by the legislation. The k you for this very nice information and I have so much to share with other people who have not seen it
Hi Tony,
Interesting article about bitcoin. For me is still a topic with many ? marks, and red flags. People are always more skeptical about intangible things, and the fact that bitcoin comes more popular on the black market, as you said, I think makes people even more skeptical to signing up for companies that sell bitcoins. But what we can do is to wait and see in which direction goes. Thank you for sharing this great information.
This sounds captivating. Thank you for sharing this beautiful information. A friend introduced Bitcion to me a while ago and despite all she was saying trying to convince me, I don’t really get her message but you review about Bitcoin here is explanatory and easy to digest. Since the world is going digital, I believe the cryptocurrency will eventually become widely accepted. But it’s like a form of MLM
Bitcoins have been around for a while now, and they are graudually gaining momentum in the mainstream financial institutions. Take for example, jack dorsey of Twitter is a firm support of the bitcoins cryptocurrency and it has really been helpful in very difficult times. I know all currencies have their own downsides, but bitcoins is here to stay forever.
Thanks Tony for yet another wonderful insight from you. Many years ago, I missed the bug opportunity of investing in Bitcoin.
Now it is one of the big things ruling the world but I am happy I have read this article.i have phoned a friend who is a crypto currency expert to also guide me accordingly so I do not get to regret in the nearest future.
Hello Tony, I read with pleasure this article about Bitcoin, and I can say that the writer detailed each issue and information about it. I learn a lot for Bitcoin from this article. The Bitcoin is a tempting one to buy and invest in it, but it is also risky consider that any government has authority on it. I’ve worked on the banking system for years and I like to invest in assets or coins that know by the legislation.
The article is a helpful guide for everyone that wants to learn about Bitcoin.
Thank you for sharing
Alketa
Hello there, thanks a lot for sharing this beautiful piece of information here with us. I must say i really did enjoyed going through your review as it contains valuable informations one needs to be aware of. Bitcoin is a great platform and I say this because I’ve gotten a lot of information on it and it’s really great. Thank you l. I am going to invest in Bitcoin because the return is sure and I’m pay with this
I’ve been wondering about this for a long time. Bitcoins was always some vague thing that sounded like a scam or a pyramid scheme. There were a lot of articles that just didn’t make any since. I’ll have to reread this again and look into it. That wasn’t what I was thinking bitcoin was about at all.
What an overview about Bitcoin you have here and i just say that I have gained all I needed to in this place already. I really value this here and surely this is really good to see here. Thanks so much for all these here and thumbs up to you here. Thanks so much for sharing with us all. Thanks
Ah, now I understand what this crypto currency is and how it works now. It was something that I wondered so much about bit now you have out some light on ghta and made me understand fully what it is and how it works too. I don’t know if it is okay for me to try it out.
I always like reading your articles because of the history you add to it. It makes me feel like I know the topic even more. The fact the bitcoin addresses can’t be traced has been exploited by kidnappers and the like to defraud people of their money without leaving a trace. I don’t know if the fact that it can’t be traced is doing more good than wrong in the society.
Hi Tony, thanks for this detailed article about bitcoins. I have actually never took a chance to find information and learn about bitcoins as to be honest I haven’t found any detailed article which explains bitcoins in details. Also I have been looking forward to joining some of the programs so I will take a closer look in case I missed some more recommendations on your websites.
Thanks Again,
Sunnyi
Thank you for the great article about bitcoin! I have been invested in bitcoin for about 4 years now. I first got in when the cost of 1 bitcoin was around $150. Now it has jumped to over $14,000! And the future will only bring even higher value for the currency as it become more and more adopted by the mainstream and by wall street. There are so many different types of cryptocurrency and each one has its own unique attributes that differentiate it from the others. Only time will tell which ones survive and become adopted and which ones will be things of the past. Regardless, I find that bitcoin and crypto are here to stay.
I have never thought of investing money in crypto currency. Mostly because I do not trust it yet. Your article has made it clear on how it works.
I like the digital world and crypto currency offers trading money and investing digitally that will make People’s life easy. But there are downside to it too. Thank you for detailed article.
I have not invested in Bitcoin and I was very wary when it first came out. I remember when it first came out. I wanted to join, but I did not know enough about it. After seeing it advertised and talked about daily on the television, I did do some research. And I still did not invest.
I personally do not know anyone who has invested in it. Maybe it’s just that good and that they don’t want to share.
I enjoyed and learned today by reading your article. I will think about it again.
Thank you
I have invested a little money into crypto currency because I have heard that the value will skyrocket at some time in the near future! I am still unsure how it works but was intrigued by your article. Thank you for your explanation of how it works! Being computer illerate, any explanation is appreciated!
The world of bitcoins is fascinating. I do a lot of transactions which require settling payments internationally and I use PayPal and Payoneer. I am so tired of dealing with banks. Come to think of it, I haven’t been in a bank for about 10 months. I like doing the things in a digital world and I like hearing about new ways of trading money and investing that will make a moderate risk investor happy. The only feature in this article that is a little turn off is the fact that it attracts criminals and underground operations. One day soon I might just purchase some bitcoins.
This is a nice really good way of describing bitcoin. I liked the analogy of thinking of it like gold, because when you think of gold, you think of it in increments. Different weights of gold make up its currency, similarly to bitcoin where its value is broken up between a few thousand dollars. Cryptocurrency is a big part of the world now, even iff you don’t use it, it could be useful to at least be familiar with it.
Glad you blended everything about Bitcoin in this post, Tony! You made me remember how much I invested in the world’s most recognized digital currency known as Bitcoin. I started investing in Bitcoin a few years ago with the expectations that I was going to withdraw to bank at the end of the year, but to no avail. Instead of making profits, I discovered that the value of the digital currency fell beyond expectations.
Wow, that’s fascinating. I have never really taken the time to actually read up on Bitcoin. To be honest it just seamed to far fetched for me. It’s still a bit of a grey area, but what have posted does make sense. Especially the part about the value increasing, as the computers will need to use more power to mine. Like you said, energy prices are going to keep rising so why not Bitcoin. Thanks for the enlightenment Tony.
Wow, this was a fascinating read. Very well thought out and written, and the best part might have been at the end where you mention that you hired the person who wrote the article. What a great lead in to the concept of hiring writers for affiliate marketing businesses!
I’m personally still on the fence about Bitcoin, but I am keeping an eye on cryptocurrency news!
This is the first time that I have read and started to understand the concept of bitcoin. Other articles have had me totally confused in the past, but this article has been the easiest for me to understand.
I had no idea that there were only going to be 21 million bitcoins in total and also that you could use this currency anonymously. This is not such good news as far as the crime statistics go, but I can see how it is definitely going to become easier to transact anywhere around the world.
Thanks Tony for always having good articles on your website. One thing I’ve discovered about bitcoins is that it can be used as a method of payment for numerous goods and services and for simple transactions like purchasing vouchers, paying bills and lots more.
It was really interesting reading through this article. Great job Tony Lee Hamilton!
I have always wondered what the fuzz is about bitcoins. This article of yours really cleared that up for me. Do you trade bitcoins and could anybody do it, even me knowing nothing about bitcoins? I also wonder if bitcoins are here to stay, I am not sure about that.Bitcoin is becoming even more popular and spreading like wild fire. More countries are beginning to accept Bitcoin. Bitcoin opened the eyes of the world to the potentials of crytocurrency. And it is indeed great that different approaches are being carried out to see that mining of Bitcoin gets easier and faster. Thanks for this link.
Hi Tony,
Yes, I think that is a great article. I have been busy with bitcoin in the beginning. That was the time years ago when you could get for 250 Euro 250 bitcoins. But I didn’t trust it. What a pity. If you see what the bitcoin is worth now, I have been foolish. Everything in this post is right. But of course, now it isn’t easy to get bitcoins. Bitcoin is really expensive now. Maybe better to buy other digital currency. They will reach more value too. Great post! Thank you very much!
I have always wondered what the fuzz is about bitcoins. This article of yours really cleared that up for me. Do you trade bitcoins and could anybody do it, even me knowing nothing about bitcoins? I also wonder if bitcoins are here to stay, I am not sure about that.
Digital currencies as i hear now days is a huge thing and especially bitcoin. I would love to invest in it but i think it would be wise for me to do some more research before i do so. This post has helped me a tremendous amount though and im glad to giving some feedback i hope it helps !
Hello,
I enjoyed your article about Bitcoin! I love cryptocurrencies and I believe that they will be a safeguard for people who don’t trust the fiat currencies like USD or EUR anymore. It is indeed a digital gold and as Robert Kiyosaki puts it, “people’s money”. I’ve bought some Bitcoin on Coinbase two years ago. The price fluctuates a lot but honestly I’ve never been so content, especially right now because I feel that the financial system will collapse in the upcoming years.
Thanks for your useful article.
Elodie
Hey Tony
Every day Bitcoin get more popular, i remember on 2011 you had to write a person from the other continent to order a pizza for you with Bitcoin. Today you can do the same like that in a number of major cities, I heard in some countries like Netherlands the entire town are Bitcoin friendly such as Arnhem often this city called the Bitcoin city. personally I earn Bitcoin on trading, I offer something for Bitcoin and also I earn Bitcoin as a freelance.
Thank you for sharing
WoW, I have enjoy reading all about Bitcoin in this article and certainly learn so much, I just went through a course with this, When putting that course and this article together, I now have a real clear overview and details on bitcoin.
I do see this currency getting much more value in due time since you can actually use it in the dark world too without any trace as you have stated. Thank you for this comprehensive article once again.
Earl
I haven’t personally dabbled with bitcoin but I see more and more companies accepting it as a payment method now so it seems to be becoming more mainstream. I used to be in the financial services industry so the lack of regulation with this currency does worry me. I think only time will tell if it will all crash and burn or be here for the longterm.
One Bitcoin costs $2,000? Wow! I was thinking of maybe a few hundred bucks but it costs more than a grand, no wonder it’s all over the web! Recently I saw some restaurants near my area that has a signboard saying “We accept Bitcoin” so I was quite intrigued. Out of curiosity, can we still use bitcoin without internet access?
Ofcourse, i agree with her. Bitcoin is becoming even more popular and spreading like wild fire. More countries are beginning to accept Bitcoin. Bitcoin opened the eyes of the world to the potentials of crytocurrency. And it is indeed great that different approaches are being carried out to see that mining of Bitcoin gets easier and faster.
Tony, I am so thankful you put this What is Bitcoin article together! I now have a better understanding of how Bitcoin works. The issue I have with this new digital currency is that your funds can be hacked and you can risk the chance of losing all your hard-earned money but that’s possible with any normal banking system hey. Nothing can ever be 100% secure. Thanks for giving some clarification on the inner working of this system. I know some people who have invested in Bitcoin and are making profits so I might get into it too at some point, however, the best currency is still gold, which needs a lot of real work to get.
More and more I see Bitcoin entering the mainstream as a real currency that can be used. It JFK airport, you can even use Bitcoin to pay for items in a few of the concession stands. I do think the days of “getting rich” by investing in Bitcoin are gone – at least for the time being. It is interesting that I have seen a few others who have tried to create their own currencies, but, as far as I know, have not been able to get them to enter into the mainstream.
Great article Tony,
A huge thank you to the lady you hired for explaining in easy to understand English how Bitcoin currency works as I have nearly bought in the past but never taken the plunge. Unfortunately, I do feel that right now it is too late and still cannot understand that if everyone is like me then how does the value increase?
I have just come back from Turkey and spoke with a number of people there in a somewhat poor environment who have invested in Bitcoin.
Thank you again for giving us some further information I have certainly learnt from it.
Thank you
Tony
Maybe the law of attraction is at work here. I was planning to write about bitcoin to promote my affiliate offer on high ticket program. Guess what I’m planning to write? Bitcoin. I was looking for articles to understand Bitcoin. Your article explained everything I want to know about Bitcoin. I was really educated and inspired to write about it too.
A curious read to be sure.
I’ve personally got my feet wet when it comes to bitcoin but never really had any success but then I was only ever trading in very small amounts.
The price of bitcoin is enormous right now. It’s really quite crazy.
Last time I checked a single bitcoin was raised and lowering between 9 and 11k in value.
Regards,
Matt.
Thank you Tony for putting this article on your website. It was good to read and I know a lot more about bitcoins now. For me, it is still a no-go, if I read that the creator of Bitcoin is still anonymous and that there are many drug dealers, hackers, and other criminals use this my alarm bells start to ring. and I am out. I am an old-fashioned person and I am holding on to my principles. Honesty, trust in God, and loyalty.
Hey Tony lee Hamilton, the article was really nice and I totally agree with her, though I buy some bitcoins online, after reading this article I just realized I didn’t know much about bitcoin, it was explained in a simple and easy to understand manner while paying attention to detail, trading crypto currencies is a very good venture to go in and profitable as well
Thanks for another great article Tony. I truly do find Bitcoin and the concept of cryptocurrencies fascinating. Back when I was still in college, two years ago now, the Professor of my Business Management course said that he didn’t think Bitcoin or cryptocurrencies were going to get anywhere. They were really starting to come up in a lot of business related conversations then, and everyone thought because it was such a new and unknown concept that the fad would die off. But, here we are, two years later and Bitcoin seems to be increasing as a viable investment option each and every day. Definitely worth keeping up on the current trends of the cryptocurrency market.
Interesting bit on this bitcoin article. Bitcoin can be very lucrative or very dangerous depending on the user’s perspective. Since most of the world currencies are being devalued because of the covid-19 pandemic, more and more people are switching to an alternative form of currency and one of the more notoriously popular one is Bitcoin. I’ve read articles and heard rumors about the value of Bitcoin and how one can instantly become a millionaire and that “now is the time to buy!” All I can say is “buyer beware” and do your due diligence before investing on Bitcoin or in anything for that matter. Very thorough article on Bitcoin.
Hi Tony, thanks for such a detailed explanation of bitcoin. Bitcoin, even though we talk about a lot, is still an insufficiently clear topic. This text shows little closer what it means and how we can profit from it. I have a lot of friends who deal with it but it was never clear to me in detail how it works. I think this is a good opportunity for anyone who wants to make money just they have to be prepared for the risk of losing money. But I think if one wants to profit he has to take the risk.
I completely agree with that person. And I have learned a lot about bitcoin mining. I was looking for a simple explanation because my sister is inviting me to invest in a bitcoin mining company. And I was quite hesitant because I did not know how the mining thing works. So, now I know and I think it is a good investment opportunity.
Thanks for sharing!
Wow! This is fascinating!. Bitcoin. I wonder what people really mean when they say that there is no job opportunities in the world, like common! Only a lazy person would say that, like there are various ways of making cool cash only if one is patient, dedicated and hardworking. Even tho the use of this crypto currency has its problem of anonymous business dealers, the profits are more than the risks in conducting a business transaction .
Interesting. I’ve been using bitcoin since 2015, it’s great because I profited 1000$ from just holding it for 4 years though I wouldn’t recommend it because it’s risky as bitcoin is very volatile that it can go downhill at anytime, but I think the main useful part of bitcoin is you can use as a currency when buying on some online stores although acquiring bitcoin can be a bit of a hassle if you don’t know what you’re doing.
Great post. I LOVE bitcoin and cryptocurrencies. I love the fact that one could become an instant millionaire by investing in cryptocurrencies and getting very, very lucky. Unfortunately I couldn’t foresee that the price of bitcoin would rise dramatically a few years back (of course that was nothing compared to its initial rise which made some people instantly filthy rich), hence I traded most of my bitcoin for other digital currencies. Big sad.
The only gripe I have is that it was a bit inconvenient getting started, and to get money out. Not sure if things have improved, but I remember going to the bank to wire transfer some money to CoinCafe to buy bitcoin. After that, it was easy to move the bitcoin around in the online world. When I wanted to sell bitcoin, the website requires my personal details such as passport copy. I was uncomfortable with that so I sold on Paxful instead (which doesn’t require my personal details for small transactions). I accepted money with my PayPal and followed the exact guide provided by Paxful. Do that and I believe you’ll be safe from scams.
Anyway, that is some of my experience with bitcoin and digital currencies. If you have any recommendations as to which cryptocurrencies to buy at the moment, I’ll be most interested to know! I think the digital currencies market is quite hot at the moment due to the Covid-19 situation around the world (or maybe it’s due to some other reason).
Extremely Interesting!
I have heard the buzz and even looked into some Bitcoin investing but never went anywhere with it due to my own ignorance.
This article has given me a “bit” more insight on the topic. I am more intrigued and will most likely be figuring out how to start a Bitcoin Wallet and load it up a little at a time. Just in case this does someday replace currency as we know it.
I see you also hired the writer of the article. Just a shout out to the author, well done!
I have a contact saved that I got from one of your sites in the past about hiring professional writers. You never know when you might need some extra help with all that we take on in this business. You can’t always do it all yourself.
Good read man! I am better from it!
Chad
Tony, I am so thankful you put this What is Bitcoin article together! I now have a better understanding of how Bitcoin works. The issue I have with this new digital currency is that your funds can be hacked and you can risk the chance of losing all your hard earned money. I know people who live by Bitcoin and then you have people like me thinks it’s a little risky. But the guestion still remains, will Bitcoin of the past or the the future of the way money will be?
This was and interesting and enjoyable article to read as I have been into the world of crypto since 2017, although I really wish I’d gotten in a lot earlier!
I really believe in the tech and the decentralised nature of the asset. I believe that due to its scarcity and the trouble that is brewing for the global economy there will be big walls of money flowing into bitcoin in the months and years ahead and for a buy and hold investment it could seriously appreciate over the next several years.
One thing that you might want to consider changing is reference to Mt Gox. Yes it was a very large (Japanese) exchange, but it actually closed down in February 2014 and they were embroiled in a debacle because approximately 850,000 bitcoins belonging to customers and the company went missing. So perhaps this exchange isn’t the best advert for bitcoin. Coinbase is good, although their fees are high.
Regarding mining, I really don’t see it as something that is viable for the individual anymore. Mining for profit is very competitive, especially when you are up against extremely large mining farms in China who control about 60% of the network, and volatility in the Bitcoin price. This makes it difficult to realize monetary gains without also speculating on the price. Mining makes sense if you plan to do it for fun, to learn or to support the security of Bitcoin and do not care if you make a profit.
Also, I believe in people keeping their coins off of the web and exchanges; ironically I wrote an article on hardware wallets only yesterday!
This has always been a mystery for me until now. Despite reading articles on it, none of it made sense. In recent years there have been people hacked who had their bitcoin stolen, which then puts people off. Well, me anyway.
My brother has been mining it for a few years and done quite well but I am not sure if I will dabble or not.
It may we’ll be that in the future all money will be digital coins such as Bitcoin. It would take the power away from the big institutions which would be both good and bad. Good in that they wield too much power now and bad in that their isn’t any sort of regulation.
Excellent post, has really made me think and consider it again. Thank you for the information.
I am still a bit wary of Bitcoin… but then I’m old school, I guess. I know that my primary network marketing company does use Bitcoin for payment to their affiliates in the Ukrain. I did learn a lot of things from this discussion though so I’m glad I read it… thanks Tony.
Hello Tony! Its good to run into your comment again. You always drop Educative and Informative content and I feel excited anytime I come across your articles. Bitcoin business is a really good one and very legit too. Actually, I’ve heard of it a lot but I kind of needed something to push me into venturing into the business full time. This article is serving that purpose for me. I know some people who have invested in Bitcoin and are making profits. Your post has given me a clearer idea of it and i’m really grateful for that.
This is a very informative post.
I think of Bitcoin as a barter network (where you are buying and selling within a closed network) but where the value of the dollar is not equal (due to the floating of the Bitcoin).
I am afraid I would buy high and be forced to sell low – unfortunately, I am not always lucky at this type of thing.
Thanks for giving some clarification on the inner working of this system.
I heard of this. I know right now I would like to invest because it is becoming big in the trade world. I believe that since on really knows or is an expert unless you are enrolled with a brokerage firm. So to do this trade outside of my knowledge I would say no. It is skeptical because it is not backed by bank then what happens if goes down? You lose your money.
Wow, this is very educating. I enjoyed reading this article. I did not know much about it until now. It’s true about this theory. The more people continue using and buying bitcoin, the more scarce and expensive it will be when you look at the law of supply and demand. One thing I love about it is how it is a kind of decentralized currency – not monitored by the government or anyone.
I heard a lot about this Bitcoin thing. I know some who are really buying and investing on these. But I really have gotten a grasp of what is it really except that it is another currency. An intangible currency that is circulating with so much craze online.
Your post has somewhat gave me a clear idea of what Bitcoin is. Though I’m still skeptical whether I would buy nor invest in it. I appreciate your effort in writing this post.
Thank you very much.
Digital currency is fast becoming the future currency of the world and will soon take over paper currency. Bitcoin has gained so much value and is still gaining much value. Bitcoin investment is one lucrative business because it’s likely to go up for a particular period of time. For me, I’d rather make an investment than mining because Bitcoin mining is not as easy as it seems.
Honest this is a great and educating post! Until now I had just little understanding about Bitcoin but after I had got to peruse your article. everything seems clear to me now. Bitcoin sounds pretty cool and lucrative. But the fact that regulators can’t get to control it makes the adoption very difficult.
Thank you for your post. It is informative and educational. I am still suspected about bitcoin. It is Amazing to me thtat people could just create some numbers, which could be thousands dollar. I still believe that we need to have value in order for stuff to be treated as money.
If everyone just work on the number, where are food, clothes, and all living things coming from. Everyone needs to create real value in order for the entire society to survive. The best currenecy is still gold, which need a lot of real work to get.
As you mentioned in your article, whether thisis a good thing or noe; all we can do is wait and see.
Exceptionally enlightening. As a dynamic dealer and financial specialist (generally values and prospects) bitcoin still befuddle me. I did appreciate your total clarification because it made a difference clarify many things for me, particularly around mining. I continuously pondered how they were made. Do you think bitcoin is another shape of a secure safe house venture comparative to commodities? Cryptocurrency will most definitely be well-spoken about hen 5G technology has been fully implemented and almost everything is digital. Great article. The question is what level of scamming be on at the time?
I have always been interested in this topic considering this is what our future money might look like, that is interesting its been use already to purchase everyday items. Now, this is what I am afraid of the volatility you essentially have to be a risk-taker, but can’t overlook the reality that this kind of scarcity can make you a millionaire. I love the traceable system and the fact that it cannot be stolen or forged. This is a great article a must-read.
To answer your question about agreeing with the author of the article, I do in terms of the general information. The value of Bitcoin is not based on gold, silver or an commodity but upon the value that the public gives to it. Right now in 2020, one bitcoin is worth approx. $10,000. So, most people are buying and selling minuscule pieces of Bitcoin. There are many exchanges online to buy crptocurrency including places like Coinbase.
The popularity of Bitcoin is increasing day by day through which trading or any transaction can be done. This currency is known as digital currency which multiplies its value by purchasing. Those who want to transact something now can use this currency which will bring a lot of benefits which is best known through a secure medium. Finally, thank you for presenting a beautiful idea about Bitcoin.
Bitcoin had helped make lots of people very wealthy and i continue to trade bitcoin and many other types of electronic currency for profits on a daily basis.Bitcoin is great as long as you don’t let your info become vulnerable to attacks I think cold wallet storage is the best when your not trading. Trading crypto is very risky but yields high returns in a lot of cases im willing to risk a little for a big gain luckily I’ve never lost but maybe 100 dollars here and there but I have made as much as 3000 in one day trading crypto but with very high risk involved but I think bitcoin is great it’s been good to me.
Very informative read. I have known about bitcoin but never knew how to acquire one or what it could be used for. Never got to into the reads. Finding this site, it really sums things up for someone’s point of view that doesn’t know much about the topic. The question headings are all the questions I kept asking myself. Reading on kept me more and more informed answering all my questions. Thanks.
The popularity and importance of crypto currency these days in day to day transactions shows just how far it has come and I think it’s great that there is no downside of it so far and also that they are a lot of ways to earn money off trading bitcoin that one may not be privy to which you have shared in your article.
I love how modern bitcoin currency is. It is very interesting. Thank you for the detailed explanation for bitcoin. I have bought shares of bitcoin and I love watching it steadily grow with time. The pandemic has really hit it hard, but it’s slowly going back up. This writer that you hired did a great job! There is so much to know about bitcoin and many people don’t know much about it so they stay away. More people need to become aware of crypto currency.
This is making my day already,A friend introduced it to me some months ago and I was still sceptical about it. You have just given me the best description and I am satisfied. Giving it a trial won’t be bad. And I heard the exchangers also take a large proportion but you said they can be boycott without affecting the transactions.thanks for this timely information
Hello Tony Lee Hamilton,thank you for sharing this informative and educative article. This article i s centered on what bitcoin is. I have always had little idea on what bitcoin is but after readng this article i now know a lot about bitcoin and i plan on investing in this crypto currency.
Oh, Bitcoin dear Bitcoin. Something that I was so scared to invest in in he last but has gained momentum in the last couple of years and it is not something that I’m surprised about though. It’s still very good that you can give this very valid point. I would definitely be looking to maybe invest in it in the future. Thanks!
Hello Tony, we see things from various view and this is one very nice article you’ve shared here. . It is a bit more complicated though and bitcoin is not only something used by criminals or people who want to hide their financial sources. I see it as the best investment nowadays when you can’t get any interest from banks and inflation is on the rise.
To me bitcoin as a crypto currency is quite a fascinating concept, the transaction in cryptocurrency market is very easy just like sending emails , and I love the fact that a smartphone or a pc can be use to make the transactions , crypto currency like Bitcoin has provided individuals an untraceable and easy way to conduct an online business, thank you Tony Lee for sharing this informative article, it was really of a good help .
Bitcoin has a lot of hype in the past years. As far as I’m aware, even banks are exploring how to use it including block chain, as it improves the operating efficiencies for cash settlements. But the fact that regulators can’t control it makes the adoption difficult. I read or heard somewhere that Warren Buffett also doesn’t invest in Bitcoin? I suppose it is just too risky.
Finally, a topic I love. Bitcoins! I have lost so much money in bitcoins, that it has become a sort of favorite subject. I have to get that money back.
Bitcoins are a great way to transact business around the world. But governments due to their loss of power over the financial world, have banned it in various countries. Otherwise, bitcoins and other cryptos have the capability to change the world of finance.
Aps
Even though this is still a somehow struggle topic for me to fully process and understand, I do remember when the fuzz of Bitcoins started flooding the news and people were going out of their way to get their hands of one Bitcoin to eventually be able to obtain more. By then, I remember the price flowing from $650 to $800; it’s truly mind-blowing for me to see it’s current estimated price.
Bitcoin is the future and it is also the most popular means from ll the crypto currencies and that is why there is all the guzzling about it out here. Seeing all that has been shared here about it, I can only say that IG is more better to tey to get into it and own as much as possible before it overbooms as predicted by most analysts
Every time I think of the bitcoin, the mystery behind Satoshi amaze me. How come that till this day he is still unknown. Created such a solution to the world’s problem and provided an application that solves the problem in diverse fields but he is unknown. This mystery surprises me
For someone who Is new to the crypto currency world this will be very helpful to him or her to know what Bitcoin is and how valuable it is growing over the years. It is very important that someone make a good research before dealing with crypto currency in order to be safe and make a good decision.
In general, I agree with the information your hired writer says. It is a bit more complicated though and bitcoin is not only something used by criminals or people who want to hide their financial sources. I see it as the best investment nowadays when you can’t get any interest from banks and inflation is on the rise.
There are still not many people who trust bitcoin and cryptocurrencies but I think there’s big potential in it.
This is truly a fascinating review. I have heard a lot about bitcoin but never understood the concept. This review explains it all. I must admit that I was afraid that it was a scam. My other thoughts were that it was used only by criminals. I respect you and the time you put into your reviews. Therefore, my thoughts on bitcoin have changed based on the knowledge presented in this article. This is truly interesting. I will continue to learn about this topic. Thank you for sharing.
I’ve seen lots about Bitcoin in the last years, not too much this year and I thank you for sharing a full and accurate article to read to know more about it, as I wanted to know more about this topic, I knew you will have a good article that will help many to know more about what is crypto currencies and how people can make a profit from them, your article shares great links to know more about this, which I like the way you write informative articles to help us to learn more about each topic.
As always Tony, you’re in top of my list when I need to get accurate information about different ways to work online.
The business with bitcoin is extremely serious, I think not everyone should, without good thinking and advice, get involved. Prior knowledge needs to be gathered because the risk of losing money is high. That’s why it’s great that there are articles like you, that can introduce us to this relatively new world of trading. With a lot of work, I believe that success is possible in that world as well.
Well, now kind of understand what Bitcoin is, lol. I was first introduced to it back in 2010 and actually bought some back then. Then I forgot about it and unfortunately have not been able to track down my original purchase from back then. I am still not sure I completely understand the premise of Bitcoin, and I am not up on how to purchase it. I did end up signing up for coinbase while trying to find my original purchase/account, but I am npt sure I will take it any further than that. LOL
I have found your article very informative. I have a modest amount of Bitcoin in a wallet and am learning more about cryptocurrencies every day. That’s why I found your information valuable. I also own other cryptocurrencies that are not well known and may or may not increase in value over time. It is going to be interesting to see who crypto and blockchain play out over the next few years.
Hi Lee, thanks very much for sharing some insight about bitcoin, I’ve always heard about it the internet but not really paying attention to it. I didn’t know that this is a cryptocurrency not tied to any government nor regulated internationally by any country. Does it not serve as a safe heaven for individuals or companies that try to dodge tax returns? To me it seems it;s a digital or virtual currency that is used around the world for transactions
Iv been looking at Bitcoin for quite a while. The information is excellent. Giving me the knowledge i need to make decisions. Its a whole new market in this century. How times have changed. I will pop back for more insight,. Great links with lots of information. A different way of making an income
I have been very wary of Bitcoin and other crypto currencies, mainly because I do not understand the “mining” process. And I have to admit that I have also been scared of unwittingly getting scammed. I was not aware that the amount of Bitcoins was capped at 21 million, so can understand that it will become more valuable with demand increasing and supply running out.
With so much said about Bitcoin from the perspective of companies seeking your hard earned cash, it is good to see a clear review describing exactly what bitcoin is. Previously I had a rough awareness but not much knowledge of the detail. Your review has helped to fill some gaps in my knowledge. Thank you. This sentence, “The total quantity of bitcoins is capped at 21 million” now makes it clear to me why the value of bitcoin can rise and fall. I think you may be right, this might be the sort of model for a new world currency. The risks your article highlights make a lot of sense. EXCELLENT article. Thank you.
I was learning about bit coin back in 2014, I guess was not very long since bit coin created. I thought, at that time, that this is gonna be like a fast trend that people easily to move on and go away. I guess I was wrong, people like to play game no matter how bad the effect of the game is for them.
Well I am not a person who agree with bit coin since it was created. I always believe that it is some kinda gambling stuff.
I have been reading a lot about Bitcoin recently and I have also discovered several alt coins that seem to have a prominent future. I am glad you have gone into crypto too. Recently I have been reading about the enigmatic Satoshi Nakamoto and the mystery surrounding his person. Quite intriguing.
Hi Tony
Thank you for a very detailed explanation of what a bitcoin is and why you may want to invest in it or not . I think for most people it is a difficult concept to understand as you are physically unable to see and touch it, which can be daunting. I got to admit I find the whole thing strange as I cannot imagine investing in something that is so volatile. You can make some money quickly but yet again you can lose a lot quickly. It is a risky business.
Thanks
Antonio
Bitcoin is a subject I dabbled with and Tony simplifies what they are, how they are used and everything else in between. The page is all narrative with the exception of 1 picture. In this instance the text was engaging enough for me to not require additional pictures of videos but that would be an idea to add them in for those visitors who switch off to the sight of lot of text. Great read.
This is a VERY interesting article. I have heard a lot about Bitcoin but no one has really explained it to me. I assumed it was a scam. After reading your article I am now more educated as to what this is. It is really quite fascinating and a bit difficult to wrap my head around a non tangible concept like Bitcoin. There seems to be some risk involved with the non tracing aspect but it is worth considering.
Bitcoin has been around the longest among the other cryptocurrencies but I think it became so popular around 3 years ago because of the price increase and everybody went crazy and investing on it. Here in NYC, some restaurants accept Bitcoin and I was so happy with that, it means that it will be more mainstream now. I am currently using Coinbse on my phone, the fees aren’t that bad. Hopefully the value will go up like the prime time again. Etherium is also another good one.
Bitcoin is a digital currency…Okay, so if I want real USD in my account, how does this happen? I must admit that I don’t know enough of this “worldwide money,” and so I am one of the naysayers who wonder if one day this too will be revealed as a scam or some kind of scheme.
Here is where my deepest concerns and fears are: “the prices rise and fall in [an]extremely volatile manner making it near impossible to estimate how much a bitcoin will be worth after a couple of hours.” I do love that it cannot be forged or stolen, but I just love something that is tangible. Maybe I am a bit old fashion? Maybe I need to learn more with an open heart?
Either way, thanks for this information.
Hi Tony,
In your article what is Bitcoin, Bitcoin is a digital currency that is supported by P2P network of computer across the internet that act as server to process financial transactions of this currency. Bitcoin is able to run out of any government or company because there’s no central authority that control it.
Thank you.
Aluko.
I probably still would not know what Bitcoin was, if not for one of my sons setting up bitcoin mining. He did quite well with it but sold a big share of his Bitcoin a little before the big upswing.
Your article is incredibly detailed and really explains the process. I’ll keep it to share with others when they ask what cryptocurrency is all about. As common as it has become, many people still don’t really understand what it is.
Thanks for doing the research and taking the time to explain Bitcoin.
Hello Tony! Bitcoin is really great. I got to begin. Trading Bitcoin and thanks to one binance company who air-drop a payout of 0.2 bitcoins. Thanks so much. I was watching this youtube channel called, GETTING 0.1 TO 10 BITCOINS. I didn’t know Bitcoin airdrop payouts are real. I will give it a try.
Thank you for a good explanation on both bitcoins and cryptocurrency in general. it is getting more and more common to use cryptocurrency and there are more and more different currencies that can be used. I think the thought of “virtual money” is difficult to comprehend for the major part of the worlds population at the moment. The news media has had a tendency to focus on the “black market” and giving the cryptocurrency a “criminal personality”. I think this is very sad, because cryptocurrency has come to stay and we need to get used to this type of currency.
Today, several banks are offering crypto exchange for regular currency, which is making it easier to buy crypto for everybody. Although the fees are quite high when buying from a bank.
I have some value in cryptocurrency myself, but not much. At the moment I am very curious about Pi, which looks very promising.
I don’t think I’ve come across an article that explains so well what bitcoin is. Understanding the value of Bitcoin has always been something that confused me, but making the comparison to Gold helped me understand the concept of scarcity. It’s also useful to know where you can buy Bitcoin from especially for someone like me who has no experience buying it and purchasing things with it. I’m still a bit mystified about mining Bitcoin, but I guess it’s simply another way of acquiring it. Thanks for such an informative article.
hey tony, there is some great info in this article man, whoever wrote it did a really good job. I’ve known about bitcoin for some time now but it genuinely still bothers me that no one knows who really created the currency, not only that but how smart would you have to be to create a computer generated currency….. GENIUS.
This is such a resourceful article. I’ve heard about Bitcoin but never bothered to learn more about them. It’s such a good mystery about how it can be created by an anonymous person like that. Cryptocurrency trading has been rising in popularity and I hope the World Bank can issue specific regulation to control the distribution.
My attention was taken to the fact that you hired the writer of this article. I wouldn’t say I agree or disagree with her because I am still trying to wrap my mind around the bitcoin concept. I feel so left behind not to understand this well known growing currency.
I should however say that the writer did an amazing job. I got to know understand a lot about bitcoin
This has been a very interesting article to read. I know a lot about Bitcoin. To me, Bitcoin is a better means of trade. Blockchain technology has been a blessing to this currency. You literally cannot fake anything on it. But the number one necessity for any currency is TRUST. I believe Bitcoin is ahead of its time. I think it is a creative means of currency but it is definitely ahead of its time and this is why so many people don’t trust it yet.
Hi Tony,
Thanks very much for this article, though I wish I had come across it years ago!
Bitcoin is indeed one of the biggest leaps for humankind this new century. It has revolutionised the world.
One just wishes that the extreme volatility could be controlled somehow.
There is also the issue of central banks of some countries that are fighting Bitcoin with everything they have. I just don’t know who would be able to hold consultations with those financial authorities, because the article says there is no individual or company that runs the Bitcoin network.
Cheers!
Great and informative post on Bitcoin! Until now I had just a basic understanding about Bitcoin but after I had your article, everything is clear for me. But my worries is about the insecurity attached to the Bitcoin. Making it safe from hackers and virus, and the possibilities of undelivered goods which you can’t trace it to anyone.
Hello Tony, feels good reading your post again and this time you write about something a little bit different about Bitcoin. This post really makes me consider investing in bitcoin. The world is adopting is so fast and this can only get better with time which really makes me reconsider. Bitcoin is definitely a new market that is going to take over at any minute.
It is not easy to understand what bitcoin is and what cryptocurrencies are, and this text provides all the necessary information to those who do not understand it at all. Digital tokens that can be sent electronically from one user to another and thus be virtual money that is not paper, is a very good idea. The value of bitcoin is huge and whoever started doing it on time, I think he could get rich by now. Great post of you, my knowledge of this is much greater now and I will consider starting some more work in the coming period.
I think most people on the planet have heard of bitcoins. Like me though I’m certain most of us didn’t really fully understand exactly how the concept worked. Your hired writer has done an amazing job of explaining it fully. One thing I like about bitcoin is the anonymity of the purchases and also that their is no middle man to be paid.
Hello Tony, nice to read your post again and this time you write about something a little bit different about Bitcoin. I like the post and I want to be able to invest in crypto but I have really not so much knowledge about it which is why I am eager to learn even more about it which is why I came to read this. Now that I have basic knowledge, I can do some more research on my own.
It’s Very of you to post this article here, crypto currency has been the talk of time for a while now a and a lot of people have been investing into it and making a lot of profit. Bitcoin is a very valuable crypto currency and it has been in market adding values. It’s good to read through this, Bitcoin is nice.
Thank you so much for sharing here and I really value all you have shared here. To be very honest, I value the overview about bitcoin and the fact that it is the next best thing in the world of currency and the crypto. The world is adopting is so fast and this can only get better with time. Surely a very great one to see here. Thank you so much for sharing here
Hello Tony, thanks for sharing this wonderful information here. considering that criminals get away with thing I just assumed they where offshore accounts in different banks not some internet currency. but as you said this might be the future a future were we control our money. It’s really nice to be here
The website looks really good. Bitcoin is so very confusing to me despite having done so much research on it. This article was helpful. I would recommend adding more photos as it would help separate thoughts on an article like this that is so in depth. But I can tell you do this consistently as your website is setup very well.
Hi Tony,
I had no idea Bitcoins were worth so much! I’ve been seeing more and more about them, but honestly assumed they weren’t worth much of anything. Your article has proved me completely wrong. Do you think Bitcoins have the potential to replace other currency online?
Interested in your thoughts,
JaemiO
incredible article I was totally unaware that such a thing excited although it makes since, considering that criminals get away with thing I just assumed they where offshore accounts in different banks not some internet currency. but as you said this might be the future a future were we control our money not the government for better or worse I guess only time will tell.
Bitcoin is definitely a new market that is going to take over at any minute. I found your article to be very informative and packed with wonderful facts. For anyone interested in bitcoin I will definitely direct them to your site. Everything you have on here is wonderful and I wish you the best. I do have one question for you, do you think that bitcoin will ever replace the almighty dollar?
Thanks!
I Heard about bitcoins and even read some topics about it but hardly get a clue what actually is this digital money. After your post, I came a bit closer but still in confusion. You wrote that having bitcoins is something like keeping gold and waiting the right time to sell. If so then it is not for me..and question regarding legal aspect. Is it completely legal in any country? Thanks.
Great and informative post! Until now I had just basic knowledge about Bitcoin but after I read your article now everything is clear for me. What do you think in the future there’s still be our normal currency like Dollars and Euros or maybe it will be replaced with Digital currency? And there are some other Digital currencies like a Bitcoin?
Regards, Gedas
I have heard many people on the internet talking about bitcoin exchange and bitcoin related things. Now, I finally know what Bitcoin is all about.
Although Bitcoin is getting more and more popular nowadays, is it popular right now? Do you think it is worth it to invest in bitcoin?
Bitcoin sounds pretty cool and lucrative, Thank you for the expansive dissertation on Bitcoin. I am an experienced FOREX trader and I would like to extend my investing into Bitcoin in the future. Keep up the good work and thank you for serving our country.
You are welcome Brad and thank you my Friend, It’s my pleasure to share.
Tony
Great write-up on Bitcoin. My worries are about the insecurity attached to the Bitcoin. Keeping it safe from hackers and virus, and the possibilities of undelivered goods which you can not trace to anyone. Don’t you agree that Investing in Gold seems to be more secure, and less stressful to keep safe and it is a tangible item too?
Hi there
I’ve always been a bit hestitant when it comes to Bitcoin. I prefer PayPal as my preferred method of online payment.
I have had a few friends use Bitcoin in the past and found it to be very hard to get their money back if the item they bought hadn’t arrived.
Very informative post! Thanks for the information
Regards
Hailey
Hi there Hailey,
I also prefer Paypal my Friend. Bitcoin is not an alternative as much as it is another way that we can earn and also pay online.
The best wallet that I have found for storing Bitcoin is called Coinbase
Thank you for stopping by and commenting Hailey,
Tony
Thanks for the information! You have been a great source!
You are welcome Hailey, It’s my pleasure to help Friends my Friend!
Hi Tony,
I remember the times I think it was in 2011 that I heard about Bitcoin. The price was low those time. I had the opportunity to mine 50 per day but, I didn’t care about it. If I did that mining, now I was a billionaire.
Tony, how long it takes to mine one Bitcoin today?
thank you
Amir
Hi Tony,
I remember the times I think it was in 2011 that I heard about Bitcoin. The price was low those time. I had the opportunity to mine 50 per day but, I didn’t care about it. If I did that mining, now I was a billionaire.
Tony, how long it takes to mine one Bitcoin today?
thank you
Amir
Hi Amir,
You are welcome and thank you my Friend and yes I understand what you are saying.
Amir, Click here my Friend to read about an amazing opportunity with Bitcoin that launches on 21 June 2017
Thank you for stopping by and commenting Amir, Talk with you soon my Friend.
Tony
I am so happy someone explained this currency to me finally! I knew it was considered a currency but I wondered who created this, or is given credit, also I know there are many others’ competing so was wondering what may be driving this competition, and is Bitcoin #1 really?
Awesome Andrew,
You are welcome and thank you my Friend!
To learn more about Bitcoin view this post on my site as well.
Talk with you soon Andrew,
Tony
Thanks for the article. It has been an unknown for me about bitcoin though I heard it a lot on the radio and I roughly know that that it is related to dollar and cent online (which I don’t think I am fully correct). This article really outlines it well and make readers easy to understand what is bitcoin about and the headers are being well-sectioned.
I never knew what bitcoins were until a few days ago when an associate from the UK told me his computer was taken over by ransomware and the responsible party demanded payment in bitcoins. I didn’t think it much but your page put everything into place. It makes perfect sense! It was unfortunate for him and the asking price was way more than he could afford. Thank you for the post, I will be researching bitcoins and would like to know more. Where do think I should start? I look forward to hearing from you.
Respectfully,
Karl
Hi Karl,
That’s very unfortunate for your Friend to have that ransomware onto his computer and for the scammers to demand the bitcoin as payment. It’s these stories that give legitimate business dealings with Bitcoin a bad name.
You are welcome and thank you Karl for sharing the story.
In order to learn more about Bitcoin, you can start right here my Friend. Click on this link!
Talk with you soon Karl,
Tony
Hey Tony, Very interesting article, I have been curious about Bitcoin for a while and found all the information I needed here, seems like a high risk, high profit plan to go for. With the fluctuating prices you can make some good money on a good day, will definitely keep reading around the site and get more information, thanks for this.
Very informative. As an active trader and investor (mostly equities and futures) bitcoin still confuses me. I did appreciate your complete explanation as it helped clarify a few things for me, especially about mining. I always wondered how they were created. Do you think bitcoin is another form of a safe haven investment similar to gold?
Hey Tony,
Fascinating article!! I see so much in the news about bitcoins and how the value and popularity of them is both rising… but I never really understood or bothered to asked “how Bitcoin really works?”
You’ve shed a ton of light on Bitcoins and now I have a good understanding. Maybe it’s time for me to invest and/or use Bitcoin!
Thanks again!
You Had explained very well about bitcoin. I still remember those days when bitcoin value was very less But I never thought to invest in it and Now it is going too high that I can’t buy it
Thank you Sameer for stopping by and commenting my Friend, Click here to get started with Bitcoin.
Talk with you soon Sameer,
Tony
Hi Tony
Bitcoin has certainly made an impression! It was worth something ridiculous like $0.02 per coin back in 2009 and today it’s just over $2800. Madness.
I have not invested as much as I should but constantly watching the market and buying partitions here and there.
They say it will go up to 1M US$ per coin in 7-10 years, this is speculation of course but coming out of the mouth of guys like Bill Gates and Richard Branson.
Regards,
Kamil
Hi Kamil,
Thank you for reading and commenting my Friend!
Yes Bill Gates and Richard Branson certainly know a little bit about investing, that is for sure!
View this post on my website for my #1 recommendation for growing your Bitcoin my Friend!
Talk with you soon Kamil,
Tony
I have been hearing a lot about bitcoins recently and never really understood what they were, or how it worked. Your article has been educational, but I am still wary of the concept. Although I keep hearing the term bitcoin, I cant ever remember coming across goods or services that accept them. Am I correcting in thinking there are only certain retailers and organisations that will accept this currency. Also, if there is no central authority governing bitcoins, how are they even accepted as legal tender?
Thank you for this very thorough article on bitcoins. I must admit I didn’t know much about bitcoins but your post has clearly explained to me what it actually is and how to obtain them. I have friends who have traded in bitcoins but wasn’t sure how they obtained them but now I do.
Do you recommend using bitcoins and are they safe to use?
Thanks for this explanation about bitcoin. It’s very timely for me, because I have just received some bitcoins as a payment for affiliate sales. It was easy to exchange it into paypal.
But I have heard that some people just keep bitcoins, as they are convinced the value will increase. Some don’t want to keep it as they are afraid that bitcoin might be gone. What’s your opinion?
I must admit that it is long time now since i first thought about purchasing bitcoin However those days you can not realy trust everyone and so your post was very helpfull and teaching for me. It help me a lot to understand better what is all about. Where would you recomend us to go and buy sfely the currency?
Thank you for the question about Bitcoin and where to purchase safely Manor.
I have personally never bought Bitcoin and actually hired the writer to research and write this article for me.
I have many Friends who will be commenting soon and sharing their expertise so check back often as I am sure that they will have a better answer for us all.
Thank you for stopping by Manor,
Tony