Everything About BitCoin

Everything You Ever Wanted To Know About BitCoin

We are going to discuss Bitcoin, and yes, we use to be afraid of it as well, and had many misconceptions of why people used it.

We thought it was only used by scammers and people that wanted to hide their money or rip people off… We could not have been more wrong.

The Six Biggest Misconceptions About Bitcoin

Please take a look at this article from the link below, and you will see, that there are numerous well known companies and product sellers, now accepting bitcoin, and the number of companies that are excepting it as a form of payment is increasing extremely fast. Many of these companies you know very well…

“Acceptance is what starts mass worldwide use”

Why Bitcoin?
With all the insecurity revolving Paypal, and there recent actions, this has led us to go out in the online marketplace and do weeks of research. This research involved searching out as many of the other online payment provider options as we could find. It was a very disappointing process..

Most traditional payment processors that were available as an option, failed to pass even the first criteria to being deemed worthwhile to use, as almost every single one that we researched, would never even respond to multiple support emails sent to them. Then while searching reviews for each one, the complaints against them were so massive, that you could not even finish loading the negative reviews without your computer wanting to take a time-out…Yes, computers get tired to… lol

The last negative was, that most of the traditional payment processors had WAY to many limitations on who could use them, meaning, USE was based on where you live. so we would have had to add several of them to get enough coverage to truly have maximum reach to most of the world. To us this was not acceptable, so we kept searching, but always what kept popping up was Bitcoin.

There are no chargebacks
Once bitcoins have been sent, they’re gone. A person who has sent bitcoins cannot try to retrieve them without the recipient’s consent. This makes it difficult to commit the kind of fraud that we often see with credit cards, in which people make a purchase and then contact the credit card company to make a chargeback, effectively reversing the transaction. People can’t steal your payment information from merchants.

This is a big one. Most online purchases today are made via credit cards, but in the 1920s and ’30s, when the first precursors to credit cards appeared, the Internet hadn’t yet been conceived. Credit cards were never supposed to be used online and are insecure. Online forms require you to enter all your secret information (the credit card number, expiry date, and CSV number) into a web form. It’s hard to think of a less secure way to do online business. This is why credit card numbers keep being stolen.

Bitcoin is accessible for anyone.
Bitcoin is by far the most worldwide accepted means for a person to person payment system. It does not matter where you live, you can open a Bitcoin wallet, and pay someone else in minutes no matter where they live! You can even get a more local Bitcoin wallet, more suitable and tailored to the country you live in, but still send to anyone, anywhere in the world, because it does not matter where you live, all Bitcoin wallets recognize the transfer of payment and communicate with each other!

A truly world wide payment system, anyone can have and use!
PayPal alone blocks access from over 60 countries, and many credit card companies have similar restrictions. Some are blocked for political reasons, some because of higher fraud rates, and some for other financial reasons. Whatever the reason, we don’t think an individual marketer from Haiti, Ethiopia, or Kenya should have diminished access to making extra money because of payment issues they can’t control. Our goal is to enable people, not block them.

What is Bitcoin?
So now lets educate you a little and back up, because many people reading this have no idea what Bitcoin even is…

Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.

It’s the first example of a growing category of money known as cryptocurrency.

Bitcoins are “mined” by powerful computers that complete complex math problems. The total quantity of bitcoins is capped at 21 million, and about 12 million are currently in circulation, according to https://blockchain.info 

What makes it different from normal currencies?
Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.

However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is decentralized. No single institution controls the bitcoin network. This puts some people at ease, because it means that a large bank can’t control their money.

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

Who created it?
A software developer called Satoshi Nakamoto is accredited by some as the one who proposed bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees. If you want to further explore “what is bitcoin”, please go to this link: http://www.coindesk.com/information/what-is-bitcoin/

(A) Does Bitcoin have an actual real “Value”? (B) Can I change it into my countries currency, deposit it into my bank, and use it to pay my bills? (C) Can I purchase things online with it?

YES… Bitcoin has a real world converted value.

It actually, right now, has an extremely high value… You can see the current value of one Bitcoin by going to this link: https://markets.blockchain.info/

OK, so you’ve learned some basics about bitcoin, the next step is to purchase some bitcoins, or fractional shares of one, you do not have to purchase an entire bitcoin at once, you can purchase fractions of Bitcoin. Each Bitcoin is divided into 100 million units, each called a ‘satoshi’. This makes it affordable for anyone to start buying.

It is very similar to opening up a Paypal account, or any other payment procesor, and then funding it with 10 bucks.

Where Do I Get A Bitcoin Wallet, And Purchase Bitcoins?
1. Coinbase is the world’s largest Bitcoin broker. It offers an easy and fast way for new users to purchase bitcoins. (Coinbase supports customers in over 30 countries, including the United States, Europe (not Germany), UK, Singapore, Canada, and Australia.) https://www.coinbase.com

Customers in the above mentioned countries can purchase bitcoins with a credit card, debit card, bank transfer, SEPA transfer, and more.

2. BitPay, Your bitcoin. Your wallet. Your terms. Manage your bitcoin finances in one app with the secure, open source wallet by BitPay. (Only available in the United States.) https://bitpay.com/wallet

3. Cryptopay is an online wallet where you can easily store, purchase and spend your money in the form of bitcoins, Euros, British Pounds or US Dollars. We are a UK-based company established in 2013, and we strive to offer the best payment solutions possible. (Not accessible for people in the United States.) https://cryptopay.me

And follow this link here, to find more Bitcoin exchanges, if your country is not in the listings above…

We also believe after all the research we have done, you should also have a Blockchain account, this allows you to send and receive bitcoin, but not buy them. Blockchain is a great place to store them before sending them to a more localized Wallet for spending.

Example: You use your blockchain account, to receive payments from, lets say, Leased Ad Space members, then when you are ready to spend them or transfer them into your currency or cash, you then send the portion of your bitcoin you want to use to your more localized bitcoin wallet, that is connected to your bank, or has a debit card, etc…

Anyone can open up a Blockchain account, it does not matter where you live, and it has great security features… https://blockchain.info/wallet/#/

How do I send or receive Bitcoins?
Most wallets and ex changers have a settings feature in your account to add or create Bitcoin addresses, or you click on receive bitcoin in your account and it will automatically create a address for you.

All these wallets, and exchangers, have a different user interface, so it is impossible to show you exactly where you do this in each one. Just know that it is extremely simple.

Your address to receive or send bitcoin with, will look like this example below, a long string of numbers and letters: 13sAJprVijVDZ7YhviXWMw2Pb6ApWsD5eP

This is the address you will add to your Leased Ad Space Profile to receive bitcoin into your wallet or exchange.

It does not matter where you live or which Bitcoin wallet or exchange you use, all Bitcoin wallets recognize the transfer of payment and communicate with each other!!

Hope this helps educate you further on Bitcoin and its uses, and how to start purchasing and spending bitcoin…

Sincerely, Richard Weberg And Dan Robb

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