What is Bitcoin? How to earn via bitcoin?

Why should I buy bitcoin?

Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures.Going by what seems to be people’s favourite feature of Bitcoin – the dramatic increase in price and it’s future potential to keep increasing, as unlike all other currencies Bitcoin is a deflationary currency. As an asset class, it has been voted as top preference owing to its virtual and decentralised nature. It has been largely compared to gold and even sometimes called “Virtual Gold” or “Gold 2.0” Bitcoin can be used exactly as money anywhere in the globe. Bitcoin gives you the freedom to control your finances. When you start exploring you will begin to believe that with the Bitcoin technology, the possibilities are endless. It‘s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyber attackers who crippled computer networks around the world in recent days.When the attackers’ “ransomware” sprang into action, it held victims hostage by encrypting their data and demanding they send payments in bitcoins to regain access to their computers. Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.Here’s a brief look at bitcoin.

Why Bitcoins?

Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.

How bitcoins work?
Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously. The coins are created by users who ‘mine’ them by lending computing power to verify other users’ transactions.They receive bitcoins in exchange. The coins also can be bought and sold on exchanges with U.S. dollars and other currencies.

How much is it worth?
One bitcoin recently traded for $1,734.65, according to Coinbase, a company that helps users exchange bitcoins. That makes it more valuable than an ounce of gold, which trades at less than $1,230.The value of bitcoins can swing sharply, though. A year ago, one was worth $457.04, which means that it’s nearly quadrupled in the last 12 months. But its price doesn’t always go up.A bitcoin’s value plunged by 23 percent against the dollar in just a week this past January. It fell by the same amount again in 10 days during March.

Acquiring Bitcoins

Buy on an Exchange
Several marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange.Transfers
People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending cash digitally.

Why are bitcoins popular?
Bitcoins are basically lines of computer code that are digitally signed each time they travel from one owner to the next. Transactions can be made anonymously, making the currency popular with libertarians as well as tech enthusiasts, speculators and criminals.

How to create a FREE Bitcoin account

Is it really anonymous?
Yes, to a point. Transactions and accounts can be traced, but the account owners aren’t necessarily known. However, investigators might be able to track down the owners when bitcoins are converted to regular currency.For now, the three accounts tied to the ransomware attack appear untouched _ and it’ll be difficult for perpetrators to cash in anytime soon without getting traced.

How much money?
Security experts say the amount of ransom collected so far appears small relative to the extent of the outbreak. Tom Bossert, President Donald Trump’s adviser for homeland security and counterterrorism, says it appears less than $70,000 has been paid in ransoms.It‘s possible, though, that there are unknown accounts beyond the three identified.

How are bitcoins kept secure?
The bitcoin network works by harnessing individuals’ greed for the collective good. A network of tech-savvy users called miners keep the system honest by pouring their computing power into a blockchain, a global running tally of every bitcoin transaction.The blockchain prevents rogues from spending the same bitcoin twice, and the miners are rewarded for their efforts by being gifted with the occasional bitcoin. As long as miners keep the blockchain secure, counterfeiting shouldn’t be an issue.

How to create a FREE Bitcoin account

How bitcoin came to be?
It’s a mystery. Bitcoin was launched in 2009 by a person or group of people operating under the name Satoshi Nakamoto. Bitcoin was then adopted by a small clutch of enthusiasts. Nakamoto dropped off the map as bitcoin began to attract widespread attention. But proponents say that doesn’t matter: The currency obeys its own internal logic.An Australian entrepreneur last year stepped forward and claimed to be the founder of bitcoin, only to say days later that he did not ‘have the courage’ to publish proof that he is.