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.
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.