What is BitCoin

Bitcoin is the first decentralized Digital Currency or E-currency which enable instant payment to anybody and anywhere in the world, created and electronically held. Bitcoins are not paper not or printed like Euros or Dollars or even Pounds. One of the interesting part from Bitcoin is they are produced by lots of people running their computer around the world using the software which solve mathematical problems. Bitcoin is the very first sample of growing category of money which currently known as cryptocurrency.

Some of you might found it on HYIP program as well and also Revenue share program. The truth is, it will be great if they can support this Digital Currency Bitcoin. It will allow you to trade bitcoin in other trading platform while investing your bitcoin in HYIP at the same time. Bitcoins have a number of advantages such as it is directly transferred from person to person via the net without going to the bank or clearing house.

• Instant peer-to-peer transactions
• Worldwide Payments
• Zero or Low Processing Fees

You can think of Perfect Money or Solid Trust Pay which is also has the same advantages with bitcoins but they are significantly differ in many ways. You can use bitcoin in every country and your account can not be frozen by anyone else. And as I mentioned before, Bitcoins are generated by many people all over the internet by anybody running a free application called The BitCoin Miner. While mining a bitcoin, it will require you a certain amount of work for each block of coins. This amount is automatically adjusted by the internet network and the total amount of bitcoins is predictable and limited. Therefore, your bitcoins are stored in digital wallet or E-wallet and when you transfer a bitcoins an electronic signature are added and within a few minutes the transactions will be verified by a miner and prominently and anonymously saved in the network.

What is Bitcoins, and How Does it differ other digital currency ?

Bitcoins can be used to buy things electronically. You can buy everything using Bitcoins as long as the merchant accepted this digital currency called Bitcoin. You may notice that this digital currency is also accepted by HYIP admin in their website to attract more investors as it will give us a unique payment when investing in HYIP program which of course many people will be interested to join them. Bitcoin is just like a conventional.

The unique thing of Bitcoin is that it is decentralized which given them the most important characteristic and also makes it different to conventional money such as dollars and yen. It is also a great characteristic which differ significantly to Perfect Money, Solid Trust Pay and even Ego Pay. There is not even one single institution that controls the Bitcoin network. Furthermore, it will put you at ease since there is no bank and even large bank can’t control their money. Bitcoin also got some company with the form of rival digital currencies such as Ripple, Freicoin, Namecoin.dollars, Euros, or yen which also traded online.

So who created Bitcoin ?

Bitcoin was propsed by software engineering called Satoshi Nakamoto which was a digital payment system based on mathematical proof. It was a complicated coding which was created by and him and now it is widely used in digital world. The idea was to create and produce an independence currency of any central authority getting involved, digitally transferable, more or less instantly with very or maybe no fees at all. Today, the idea was created, proven and has been widely use by people in digital world.

Then Who prints Bitcoin ?

No body.. It wasn’t physically produced from the beginning by the bank. It is uncountable and it has it’s own rules. If the bank can easily print out this Dollars paper note than bitcoins are mined using computing power in a distributed network by the community of the people in digital world. Therefore, the network also handle the transaction processes made by bitcoins and effectively creating the bitcoin as its own payment method. There is also another rule for example, say that only 25 million bitcoins can ever be made by miners in digital world. Thus, these bitcoins could be divided into a smaller pieces and the smallest divisible is for 100 millionth of Bitcoins which is called ‘satoshi’ after the founder of the Bitcoins digital currency.

And What is it ‘Based’ on

Usually conventional currency may be in form of Gold or Silver. Basically, you understood that if you deposited $10,000 in the bank, you could get your deposit in form of gold. Thus, Bitcoin is not based on gold but instead it is based on mathematical formula created by Satoshi. its values is not rooted by precious metals such as Gold or silver. Therefore, the community are using software program that follow these mathematical formula to produce and create bitcoins around the world. You would probably need a high computer performance to boost up your bitcoins mining. The mathematical formula is free to be accessed and any body can see and use it. Furthermore, it is an open source software which you can edit or delete the code to ensure it does what it is supposed make. As long as you know and understand the code, you can edit it according to your will.

What are the important Characteristics of Bitcoin ? Bitcoin has several Important Characteristics that others don’t

1. It’s decentralized

Which mean the network is not controlled by one central authority. It’s backed by no government agency or bank which means that they won’t be able to interfere the monetary policy and cause a meltdown is simply able to take other people’s bitcoin away as what Central European did on Cyprus in early 2013 which caused an uproar. And even if the network goes offline, for any reasons the the money will still flowing without problem.

2. Easy to Set Up

Setting up merchant account in Bank may be a bit complicated but setting a merchant account is as easy as flipping your bitcoins. You can set the account within seconds without any question being asked and there is completely no fees.

3. It’s Anonymous

I would say this is the best feature for HYIP admins and investors as well. It gives a complete anonymous when hold a multiple or single account. They are not linked to your name, addresses or any other personal information which means they are the best when used in illegal stuffs such as HYIP.

4. It’s completely transparent

However your bitcoin balance is completely revealed to anyone and they can tell how much you have. However, they just don’t know that it’s yours bitcoins since it is completely anonymous account. If you have this publicly bitcoin addresses then this might happened in the future but they won’r recognize the personal information or your name of this account owner.

5. Transaction fees are teeny

You bank charged you $35 for international bank transfers. You bitcoin wallet charged you $0 for international bitcoin transfers. Simple and profitable for investment.

6. Fast & Furious

Receive your Bitcoins within minutes after the network processes the transactions.

7. It’s Non-refundable

When bitcoins are sent, it is Sent ! Dispute ? Impossible ! for Bitcoins unless the recipient send you back.