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In 1999, Professor Milton Friedman, a Nobel Prize winner in economics stated:
“I think the internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing but that will soon be developed, is a reliable e-cash.”
Nine years later, Bitcoin was born.
*No one can stop Bitcoin* Bill Gates
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures.
Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
Buy on an Exchange
Several marketplaces called “bitcoin exchanges” (TRADERS) allow people to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange.
People compete to “mine” bitcoins using computers to solve complex math puzzles. This is how bitcoins are created. Currently, a winner is rewarded with 25 bitcoins roughly every 10 minutes.
Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC.
Though each bitcoin transaction is recorded in a public log, names of buyers and sellers are never revealed – only their wallet IDs. While that keeps bitcoin users’ transactions private, it also lets them buy or sell anything without easily tracing it back to them. That’s why it has become the currency of choice for people online buying drugs or other illicit activities.
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1 Bitcoin surges to
$1.1k + United States Dollars
At the end of 2016 1 Bitcoin was valued between $300-500USD. ^Explosive growth in a few short months!
Most Recent Related Sales Feb 20th-29th 2017:
Source: DNJournal (Attached)
Signs of dramatic SUCCESS (growth) and that Bitcoin is here to stay:
Bitcoin now has ATMs & Tellers
The world is vast, remember these are only US figures.
Total number of Bitcoin ATMs / Tellers in United States: 667 and growing! (Map Attached)
List of major cities in United States with bitcoin ATM installations:
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