Bitcoin is a decentralized expert to expert crypto-currency, and the firstly its kind. It is one of the most fascinating innovations in finance in at least the last one hundred year. Bitcoin is utterly determined by an criteria and everything is open-source so there are no surprises. No central agency can control the method of getting Bitcoin, unlike fiat stock markets or even materials like gold. The world can only ever see a total of 21 years of age million Bitcoins in existence.
Like any new bothersome innovation, Bitcoin has a very loyal core group of proponents and followers who are passionate about the idea. They are the ones who take it forward and spread the idea and take it to another location level. Bitcoin has plenty of enthusiasts who are excited about the idea and how it can shape the future of finance, giving the ability of money-back to the masses instead of under a central control.
It is not just a passing fad. Bitcoin is here to stay. Miners are gearing up for the best of the most effective equipment to my own Bitcoin more effectively. Transactions are investing heavily in the security and efficiency of the Bitcoin system. Entrepreneurs are taking their chances and building great businesses around this idea. Business capital funds are needs to support projects that revolve around Bitcoin (Coinbase just raised a $5 million venture fund from some of the best VCs, including the team that backed Tumblr).
There are plenty of scenarios, black swan and otherwise where Bitcoins can become a principal force in the financial industry. There are plenty of misfortune and gloom scenarios you can think of where Bitcoin will retain it’s worth and value as hyperinflation utilizes the fiat currency of a weak central government (there has been at least one recorded case in Argentina where a person sold his house for Bitcoin). However, that’s being too pessimistic. Even without anything bad happening, Bitcoin can fortunately live alongside the traditional stock markets of the world.
Some of the greatest advantages of Bitcoin are realized in efficient markets. It can be broken down into a hundred million parts, each called a satoshi, as opposed to fiat that usually can be broken down only into a hundred parts. Also, transactions over this network are essentially free or sometimes require a small transaction fee to induce the miners. By small, we are talking about less than a tenth of a percent. Compare this to the 2-4% fee charged normally by the the creditors and you being to see why this concept is so attractive. Innosilicon A11 Pro ETHMiner (2000Mh)
So now that you’re convinced that Bitcoin is here to stay for the long run, how to make use of this? It is still in very first stages of development and there are plenty of places where you can make some Bitcoin. Faucets, for example, are supported solely by advertising and captchas and haven’t any catch — you enter your wallet id and you get free Bitcoins.
There are several other concepts from the Get-Paid-To world translated and made for the Bitcoin economy. For example, there are several ways in which you can take surveys, watch videos, and visit advertiser websites, all in return for some Bitcoins. This being new, it is a great way to test out the waters and secure some of these in the process. Remember that it is much easier to give away Bitcoins because micro-transactions are so convenient. There doesn’t have to be a real minimum payout and even when there is, it is usually very minimal.
In order to participate in the Bitcoin economy, you should not be a technical expert or even delve very deep into the ins and outs of the currency. There are several services you can use to make the process as simple as possible. It is all up to you to take that leap of faith and stay in the game for the long run.