Payment freedom – It is possible to send and receive any amount of money, small or big instantly anywhere in the world at any time. No bank holidays. No borders. No imposed limits. The network allows its users to be in full control of their money. Very low fees – Payments are currently processed with either no fees or extremely small fees. Users may include fees with transactions to receive priority processing, which results in faster confirmation of transactions by the network. Additionally, merchant processors exist to assist merchants in processing transactions, converting btc to fiat currency and depositing funds directly into merchants’ bank accounts daily. As these services are based on Bitcoin, they can be offered for much lower fees than other services or credit card networks. Fewer risks for merchants – Transactions are secure, irreversible, and do not contain customers’ sensitive or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks, and there is no need for PCI compliance. Merchants can easily expand to new markets where either credit cards are not available or fraud rates are unacceptably high. The net results are lower fees, larger markets, and fewer administrative costs. Security and control – Users are in full control of their transactions; it is impossible for merchants to force unwanted or unnoticed charges as can happen with other payment methods. Payments can be made without personal information tied to the transaction. This offers strong protection against identity theft. Users can also protect their money with backup and encryption. Transparent and neutral – All information concerning the Bitcoin money supply itself is readily available on the block chain for anybody to verify and use in real-time. No individual or organization can control or manipulate the BTC protocol because it is cryptographically secure. This allows the core of Bitcoin to be trusted for being completely neutral, transparent and predictable.
Bitcoin reaches a new high of over $600 as trading in China, faced once more by a devaluing yuan, spikes. CoinTelegraph spoke to experts to investigate the reasons for such a price increase and learn their forecast for the future of Bitcoin value.
The price of Bitcoin has passed $600. At time of writing, Bitcoin’s price had surpassed $630. This marks the highest the price of Bitcoin has reached in almost two years.
The last time the price had reached a similar level was late July of 2014. Since then, the price fell to around $200 in early 2015, and has been on a steady rise ever since.
The spike in the price of Bitcoin occurred around the same time as a large increase in buying from Chinese exchanges. As with the last spike, fear from a devaluing yuan, combined with China’s capital controls, led to an increase in buying of Bitcoin.
Bitcoin or in short form BTC is a decentralized digital currency that enables instant payments to anyone, anywhere in the world, without any fees. Bitcoin uses peer-to-peer technology to operate without any central authority or bank. The transaction management and money issuance are carried out collectively by the network.
A satoshi (sat) is a small fraction of a Bitcoin (Btc). The unit has been named “satoshi” in collective homage to the founder of Bitcoin, Satoshi Nakamoto. Satoshi are to Bitcoin like Pennies are to Dollars. 1 Satoshi = 0.00000001 ฿ 10 Satoshi = 0.0000001 ฿ 100 Satoshi = 0.000001 ฿ 1,000 Satoshi = 0.00001 ฿ 10,000 Satoshi = 0.0001 ฿ 100,000 Satoshi = 0.001 ฿ 10,0000,000 Satoshi = 1 ฿
Bitmedia.io is an advertising platform, which is within Bitcoin community. This is a niche platform, which allows Bitcoin resource owners to buy and sell thematic traffic.
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