What is Cryptocurrency

Will cyber currency last?

Tag: what is cryptocurrency

What is this Bitcoin thing?

With hard work and determination anything can be accomplished. What is this bitcoin thing…. Revolutionary!

What is this Bitcoin thing?

So if your asking yourself what is this bitcoin thing and why am I seeing that Bitcoin symbol more places online?  It’s because the decentralized currency dream has been realized.

Bitcoin was designed by what is still an anonymous individual, some say a groupv(unlikely because hard to get more than one person to sit on that type of wealth), who is said to have between .5 to 1.2 million bitcoin in his possession.  The reason that is know is because of the miners, apparently a certain block has never entered the chain so to speak.

The miners record the transfer of Bitcoin

The miners record the transfer of bitcoin and it usually takes 5 seconds to .. I have not seen more than 5 minutes from my blockchain account.  Instantly you can transfer currency to another bitcoin account and the recipient can trade it for their preferred currency or just use the bitcoin to purchase what they want, it is getting easier… you can even tie bitcoin to a Credit Card account that works just like a visa, so it is a virtual Debit Card.

I mine with them.

The miner keeps the chain in tact, they complete the digital record of the transfer in the block chain.  Apparently you can see the complete life of a bitcoin, if you like reading code.

BEWARE of Bitcoin Scams!

As with anything online if it sounds too good to be true it probably is.  BEWARE of Bitcoin Scams!  I have been bitten a couple of times but I do not buy bitcoin, I have bought mining power, but I have even been burned on one of those.

I collect bitcoin when I am online, and through my phone.  You want to see how to do that go to www.freebitcoinhub.com that explains how to start your accounts and best places to get free bitcoin and buy or mine.

Free Bitcoins

Great place to go to learn where to start collecting cryptocurrency

What is Cryptocurrency

What is Cryptocurrency?

You might be asking your self what is cryptocurrency and why are people talking about it.  In essence it is a purely electronic or digital asset like gold, silver, a stock or cold hard cash.

I wish that I had been clued into what a Cryptocurrency is when bitcoin was new, it is really genius because of its encryption and the Mining or Computing Verification of the transaction on to digital record or block chain of the bitcoin.  To answer what is cryptocurrency ask yourself what is a Stock?

We all under stand what money is and that is learned because we have lived with using it all our lives but what is it worth?  Is $1 today worth what it was 20 years ago?  On the same note Apple stock is not worth what it was 10 years ago. 10 years ago you could have bought 1000 bitcoin for less than $1.

In the past years bitcoin has captured the marketplace of Cryptocurrency and is the big boy on the block.  It has answered the question of what cryptocurrency can be.  Today 1. Bitcoin is worth what that counter on this site says it is.  When I found bitcoin it fluctuated daily between $220-$250, see it is bought and sold all over the world on exchanges.  It is also accepted by websites all over the world, there are no limits with its ease of transfer.  Being Decentralized and not controlled by a government it can not be manipulated by financial institutions.

The banks and our governments have had there own Electronic currency for years.  That is why a run on the banks is such a great concern.  There is not enough printed money to represent the money in the checking accounts of the people in the US do you see how you have been living with Digital Currency for years?

Now there are several types of cryptocurrency coins out there and you can even make your own off of the same technology that Bitcoin is designed from.  Microsoft last year sold off any bitcoin they had and created there own coin Etherium, which of course has become one of the bigger cryptocurrency coins out there.

Get started for free.

Free Bitcoins

Great place to go to learn where to start collecting cryptocurrency

 

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