Showing posts with label Bitcoin. Show all posts
Showing posts with label Bitcoin. Show all posts

Tuesday, October 7, 2014

Is It Too Late to Make Money from Bitcoin This Year ?

Is It Too Late to Make Money from Bitcoin in 2014?

Buying Bitcoin, a fresh peer to peer, decentralized digital currency, made lots of people a nightmare of a bundle in 2013. The buying price of a the coins rocketed from $60 to over $1000 in only a couple of months, though it has fallen back on to the $900s and now about 345. Not just that - but some of these people didn't even need to get their Bitcoins. As the coins may be'mined'utilising the processing power of some type of computer, many coin holders got their currency for the expense of their computer and the electricity to perform it.

Saturday, October 4, 2014

Who invented BitCoin, Who keeps track of it all and How Can I Get Some?


 BitCoin: So how exactly does money get created?

Your bank gets to produce money by lending it out. Say you deposit $1,000 along with your bank. Then they lend out $900 of it. Suddenly you've $1000 and somebody else has $900. Magically, there's $1900 floating around where before there clearly was merely a grand. Now say your bank instead lends 900 of one's dollars to some other bank. That bank consequently lends $810 to some other bank, which in turn lends $720 to a customer. Poof! $3,430 immediately - almost $2500 created out of nothing - provided that the financial institution follows your government's central bank rules. Creation of Bitcoin can be as distinctive from bank funds'creation as cash is from electrons. It's not controlled with a government's central bank, but instead by consensus of its users and nodes. It's not developed by a small mint in a building, but instead by distributed open source software and computing. And it needs a questionnaire of actual benefit creation. More on that shortly.


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