What is Bitcoin?

Bitcoin is a virtual currency and controlled by a network of users called “miners”. It is dependent on a shared public leger (called database) of all transactions- on cryptography- to protect the integrity of the leger and a series of private “keys” used to sign transactions.

As a user you have a virtual wallet, which you use to keep your Bitcoins, and from which you make all transactions peer to peer – with the wallets of other users.

Bitcoin founded in 2009. The first purchase using Bitcoin was by a man from Florida May 22, 2010, who bought two large Papa John’s pizzas for 10,000 BTC worth about $30 at the time.

The Bitcoin network is also faster and stronger than ever.

Bitcoin Global Perception

Cryptocurrenciess are criminal money said by big financial whales. Crypto exchanges are tools for crime syndicates they said. Right now Wall Street Businesses are ready to jumped onto the Bitcoin bandwagon with regulatory environment.

As the dollar loses 5 to10% a year in real value, not the government’s alleged 1-2% per annum, Bitcoin’s value in dollars will grow in proportion. The dollar loses its “Global Reserve Currency” status, people will flood the Bitcoin market looking to get in.

In recent years, the influence of Bitcoin has brought change to variety of industries. Industries have begun to accept Bitcoin as payment are mostly online companies themselves.

Less than 1% of the world’s population have ever used Bitcoin. According to the Human Rights Foundation — more than 50% of the world’s population lives under an authoritarian regime.

If Bitcoin (BTC) community invest the time and resources to develop user-friendly wallets, exchanges and better educational materials for Bitcoin, it has the potential to make a real difference for the 4 billion people who can’t trust their rulers or who can’t access their own government banking system.

Morgan Stanley bank gets fined for money laundering.

Bitcoin is the Best Start up since 2009