Do You Know This About Bitcoins ?

                                                                                

Bitcoin was invented by a software developer using a pseudo name, Satoshi Nakamoto in 2009.Bit-coins are neither coins nor conventional currency. Bitcoin is in fact an algorithm based on mathematical calculations.  A peculiar trait about bitcoin is that, it is not backed by tangible commodities such as gold or silver; rather they are traded online which makes them a commodity in themselves.

The name ‘Bitcoin’ might suggest that it is some coin but actually it is a "crypto currency", a digital form of payment that is produced by people worldwide. It allows peer-to-peer transactions instantly, worldwide, at a very low cost or even free. Like conventional currencies, users can utilize the digital currency to buy goods and services online as well as in some physical stores that accept it as a form of payment. Currency traders can also get bitcoins in Bitcoin exchanges.

Few differences between Bitcoin and conventional currencies.

1. Bitcoin does not have a centralized authority or a government or a bank i.e bit-coins are totally decentralized. The peer-to-peer payment network is managed by users and miners around the world. Bitcoin is anonymously transferred directly between users online, without going through a central authority.  This means that transaction fees are much lower and even free in many cases.
2. Bitcoin is produced in the market by a process called "Bitcoin mining". Miners around the world produce new bit-coins by making use of mining software to solve complex bitcoin algorithms and to approve Bitcoin transactions. These miners are awarded with a transaction fee.
3. The amount of Bit-coins circulated is limited. This occurs because solving bitcoin algorithm becomes difficult as more bit-coins are generated. The maximum amount in circulation is capped at 21 million. It is estimated that this amount will be touched only by the year 2140 A.D. This makes Bit-coins more valuable as more people use them.
4. A public ledger called 'Block chain' records all Bitcoin transactions and shows each Bitcoin owner's respective transactions. Block chains can be accessed by all the members of bitcoin to verify their transactions. This makes the digital currency more transparent and predictable. Thereby reducing the chances of any fraudulent transactions.
5. Any person, who wishes to get bit-coins, can do so by either mining it or through Bitcoin exchanges.
6. Bitcoin are stored in special bitcoin wallets similar to holding a bank account.

This digital currency is not yet global but it gaining market awareness and acceptance slowly and steadily. A business may decide to try Bitcoin to save on credit card and bank fees or an individual can get bit-coins in hope to get rich as its value increases.

Introduction To Eon Coin Trade – The New Digital Revolution

     Eon Coin Trade is launched by a team of quality driven multi level marketing experts, pay plan and accounting experts and top-level internet marketers with more than 25 years of direct selling business experience.

     One very distinguishing quality of our company is the main focus on Bitcoin development. We have created teams of skilled personnel who keep working and updating about Bitcoin happenings world around. If you any of your acquaintance has any theory, service application or website about Bitcoin then it us who you need! With years of experience and a strong desire to bring about a change through Bitcoins, we are more than willing to engage Bitcoin projects. With your help and our confidence we wish to build a successful company. As a bonus, whenever a member of Eon Coin trade gets a prospective client,he’ll be rewarded! Let every learned person know about Bitcoin as it might be  the world’s biggest development.

Bitcoin will be an international digital currency that will create a revolution in the financial sector. Freeing People to Transact on Their Own Terms!

     One can buy goods using Bitcoins and that too without having to reveal his identity.  Another major advantage being, international payments will be easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may benefit from them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping to grow rich as the value of Bitcoin increases.

One can buy bitcoins from regulated exchanges or directly from other people selling them. Depending on who or where you are buying it from, you can purchase bitcoins by paying hard cash or wore transfers.

Though  buying bitcoins  seems simple, it is not so, especially for a newcomer. The good news is ; the number of options is increasing all the time and there’s plenty of incentive for creative entrepreneurs to invent more convenient ones.So, with your support and our skilled labour we wish to reach greater heights in the emerging field of Bitcoins.

Bitcoin- Digital Currency

                                                                             

Bitcoin is a form of digital currency, created and held electronically. No one controls it. In other words it can be described as  an electronic payment system based on mathematical proof.

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,the difference between conventional money and bitcoins is that ,bitcoins is decentralized. There is no government, company, or bank in charge of Bitcoin thus making  it resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.

Mining is the process of adding transaction records to Bitcoin's public ledger  called the block chain, which everyone can examine. The sole purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Individuals or companies engage in mining in exchange for transaction fees and newly created bitcoins.

Let us have a look at a few advantages of using bitcoins

1.Fast: When you pay a cheque from another bank into your bank, the bank will often hold that cheque for several days, until the money gets deposited. Bitcoin transactions, however, are generally far faster. Transactions can be instantaneous , meaning here a person takes on the risk of accepting a transaction that hasn’t yet been confirmed by the block chain. Or, he can take around 10 minutes if a merchant requires the transaction to be confirmed.

2. Cheap: Unlike credit and debit cards where one has to pay for its privileges, bitcoin transactions have minimal or no fee at all.

3. Decentralized:You own the Bitcoins.There are no banks involved here.

4. Discreet: Users can hold many bitcoin addresses without giving away their personal information.

5.Transparent:The block chain stores bitcoins transactions. The best part about this public ledger is that though it keeps the user anonymous,it still tells you how many bitcoins is stored at that address.Thus transactions are transparent.Also,once a transaction is made,you lose that many bitcoins.the user will not receive it back unless the recipient returns it.

How to buy Bitcoins?

You can buy bitcoins from regulated exchanges or directly from people selling them. Depending on which source you ar buying bitcoins, you can either pay in hard cash or wire transfers.

Storing Bitcoins

Bitcoins are stored in places known as ‘wallets’.These wallets are similar to a bank account.There are two types of wallets;

(1) a software wallet stored on the hard drive of your computer (2) an online, web-based service.

Whichever type you choose,ensure that you have it secured and have a back up too.

Bitcoin’s popularity is growing by the day.People from all over the world are beginning to use the digital currency,aiming to be rich or simply to take advantage of its unique  features.

Eon Coin Trade- The Digital Revolution

                                                                              

Eon Coin Trade

 Eon coin trading connects your bitcoin wallet with a steady stream of earnings and much more… Eon Coin Trade is launched by a team of 15 international bitcoin multi level marketing experts, pay plan and accounting experts, and top-level internet marketers.

         Bitcoin is a digital currency you can use for personal transactions or business at high speed and low cost. Because of its ease and low cost, Bitcoin has now grown in acceptance as a medium of exchange. Bitcoin's inherent value is in its speed, low cost, and security features. While still in its infancy, Bitcoin can already be used to buy everything from a cup of coffee to a vacation package, and low fees make it more economical than using a credit card processor. While wallets are often described as being a place to hold or store bitcoins, due to the nature of the system, bitcoins are inseparable from the block chain transaction ledger. Perhaps a better way to define a wallet is something "that stores the digital credentials for your bitcoin holdings and allows you to access (and spend) them.                                                                 
      All newly mined Bitcoins, along with every transaction, are publicly recorded. This record is known as the blockchain. While the blockchain records transaction details, it does not record any personal identifying information about the senders or recipients. Several marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange. People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending cash digitally.
     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.