Advertise with us

Author Topic: bbb.org: Bitcoin - The Internet Currency  (Read 181 times)

0 Members and 1 Guest are viewing this topic.

Offline bitcoinforum.comTopic starter

bbb.org: Bitcoin - The Internet Currency
« on: May 13, 2013, 10:18:07 PM »
Bitcoin: The Internet Currency

Shoppers regularly hand over credit cards when checking out, but a new form of digital currency, called Bitcoin, is increasing in popularity. In fact, the value of all bitcoins in circulation is approximately $1.3 billion in United States currency—a number that simply cannot be ignored. Better Business Bureau serving Alaska, Oregon and Western Washington offers insight into this new “cryptocurrency.”

What is Bitcoin?
Bitcoin is a digital currency which allows anonymous and instant peer-to-peer payments. The Bitcoin system uses a shared public log called a blockchain, which contains all verified payment records in chronological order—allowing everyone on the network to see every transaction.

Where do bitcoins come from?
Bitcoins are intangible and must be digitally “mined.” Computers connected to the Bitcoin network compete against each other to find solutions to extremely complex mathematical equations, the first to crack the equation is awarded with freshly minted digital coins. There is a set ceiling of 21 million bitcoins and it is expected that they will all be unlocked by 2140.

How can bitcoins be used?
Computer programs and smartphone applications allow users to anonymously exchange real money for bitcoins and many retailers—both online and offline—now accept bitcoins as payment for goods and services.

Are there any dangers to using Bitcoin?
Bitcoin is not backed by any single government or organization; its value is recognized solely by its users—consumers and businesses. The Bitcoin exchange rate fluctuates continuously, making it high-risk currency.
Spending real coins or bitcoins, visit bbb.org/Find-Business-Reviews to find reputable businesses.

https://www.bbb.org/blog/2013/05/bitcoin-the-internet-currency/

 

brewster.kahle.org: Bitcoin is the “local currency” of the Internet

Started by bitcoinforum.com

Replies: 0
Views: 213
Last post February 21, 2013, 04:17:11 PM
by bitcoinforum.com
mashable.com: Bitcoin - How the Internet Created Its Own Currency

Started by bitcoinforum.com

Replies: 0
Views: 421
Last post November 06, 2012, 02:01:45 PM
by bitcoinforum.com
npr.org: The Ups And Downs Of Cyber Currency Bitcoin

Started by bitcoinforum.com

Replies: 0
Views: 171
Last post April 05, 2013, 01:52:16 PM
by bitcoinforum.com
Bitcoin @ http://opensourcewindows.org/

Started by rTech

Replies: 0
Views: 631
Last post January 16, 2012, 05:34:27 PM
by rTech
Bitcoin online currency gets new job in web security

Started by bitcoinforum.com

Replies: 0
Views: 588
Last post January 18, 2012, 10:11:46 AM
by bitcoinforum.com