easybitco

 Most people have heard of the term Bitcoin but don't have a clear idea of what it really is. Simply defined, Bitcoin is a decentralized, peer to peer, digital currency system, designed to give online users the ability to process transactions via digital unit of exchange known as Bitcoins. In other words, it is a virtual currency. The Bitcoin system was created in the year 2009 by an undisclosed programmer(s). Since then, Bitcoin has garnered huge attention as well as controversy as an alternative to US dollar, Euros and commodity currencies such as gold and silver. A private network of computers connected by a shared program is used to carry out transactions and process payments in Bitcoin. The creation of Bitcoins are based on increasingly complex mathematical algorithms and its purchase is made with standard national money currencies. Users of Bitcoin can access their coins with their smart phones or computers. As a new and growing virtual currency, Bitcoin has certain distinct ...

 OK, so what's Bitcoin? It's not an actual coin, it's "cryptocurrency," a digital form of payment that is produced ("mined") by lots of people worldwide. It allows peer-to-peer transactions instantly, worldwide, for free or at very low cost. Bitcoin was invented after decades of research into cryptography by software developer, Satoshi Nakamoto (believed to be a pseudonym), who designed the algorithm and introduced it in 2009. His true identity remains a mystery. This currency is not backed by a tangible commodity (such as gold or silver); bitcoins are traded online which makes them a commodity in themselves. Bitcoin is an open-source product, accessible by anyone who is a user. All you need is an email address, Internet access, and money to get started. Where does it come from? Bitcoin is mined on a distributed computer network of users running specialized software; the network solves certain mathematical proofs, and searches for a particular data seque...