I have been seeing and all over the net text ads and such about Bitcoin and Cryptocurrency? Has anyone ever used them before? How do they work? Not to mention all the new payment processors that have sprouted up since I was making my income online years ago! There are:
Solid Trust Pay
Payza
Perfect Money
Payoneer
Just to name a few! What are the best ones to work with? Also I really want to know what Bit coin is really bad...lol Any input on both questions would be great!
Thanks in advance! :)
P.S I wasn't quite sure what section to put this question in!
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Hari S Nair
Premium
Something I am trying to understand for a while:P..thanks for asking this question, the answers here will help me for sure!
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DebbieRose
Premium
@phatbuddy just recommended a Netflix documentary, Banking on Bitcoin. I watched it..all 1 hour and 20 minutes of it and I still don't understand! It did provide the history of its beginning and how it works but it's confusing to me. Still need cash to initially buy them. Several members have discussed it and use it for their commerce sites. Hopefully they'll comment here. I don't need it yet so I'll just keep trying to educate myself. I do recommend the movie. Debbie
Hari S Nair
Premium
Yeah, I have seen people here writing posts on it for a while at their sites, it is a kind of universally accepted currency, the value of it varies with time like any other property etc. etc...still not sure, someone having a passion for currency market can answer, I hope this post gets attention of such someone.
PMindra
Premium
Hi, Hari.
I am not an expert, but I am an enthusiast. Learning more everyday.
I trade in 'cryptocurrency' on a daily basis which takes up most of my time, and then I come back to WA. It's awesome.
Where people are getting confused perhaps is that they are focussing on the currency and not the 'Blockchain' Technology behind the currency.
The currency is only a measure of what the technology can provide. The Blockchain is a measure of complete 'Trust' presented in a completely 'open' public ledger where contracts cannot be changed or misrepresented (identity theft, mistakes in ownership deeds, etc.) for example.
My chosen online mentor on the subject is Andreas Antonopoulos. He is a leader in this field and very well respected. His videos are long, but he has a very entertaining way of presenting the subject matter without it being boring.
You can find him at:
https://antonopoulos.com
Kindest regards my new friend.
Touch base if you would like more perspectives from me regarding the most disruptive technology of our entire history.
Kindest Regards,
Paul from Canada.
I am not an expert, but I am an enthusiast. Learning more everyday.
I trade in 'cryptocurrency' on a daily basis which takes up most of my time, and then I come back to WA. It's awesome.
Where people are getting confused perhaps is that they are focussing on the currency and not the 'Blockchain' Technology behind the currency.
The currency is only a measure of what the technology can provide. The Blockchain is a measure of complete 'Trust' presented in a completely 'open' public ledger where contracts cannot be changed or misrepresented (identity theft, mistakes in ownership deeds, etc.) for example.
My chosen online mentor on the subject is Andreas Antonopoulos. He is a leader in this field and very well respected. His videos are long, but he has a very entertaining way of presenting the subject matter without it being boring.
You can find him at:
https://antonopoulos.com
Kindest regards my new friend.
Touch base if you would like more perspectives from me regarding the most disruptive technology of our entire history.
Kindest Regards,
Paul from Canada.
PMindra
Premium
Hi, Debbie
Paul here from Ontario, Canada.
It pleases me that you took some valuable time to even look into this concept.
Bitcoin was released in 2009 primarily (I think) because of what was happening in the Global Financial Meltdown and 'Bailouts' during that time.
You can read the white paper here:
https://bitcoin.org/bitcoin.pdf
It may or may not help in your further understanding.
Bitcoin is better experienced than explained, but I'll try to give an elevator pitch explanation.
Almost half the World do not have access to adequate banking, so they are inactive participants in commerce. However, 97% of that same population has a cell phone.
All they need to do is open a Blockchain/Bitcoin account (for free), only a valid email account required.
Now, let's say, I am here in Canada, and you are in England for example Debbie. You call me and say, Paul, can you send me a thousand dollars? Here is my receive code.
Traditional methods would take many business days and the transaction could incurr up to $50.00 to complete.
On the other hand, If I have the value of at $1,000.00 dollars in my bitcoin wallet, I would just simply send it to your receive code, Debbie. Within 10-20 minutes the transaction would be confirmed and my cost of sending it to you would be less than $1.
Sorry, probably more than a sixty second elevator pitch.
The key thing to understand (in my opinion) is that it is not about any particular currency but the the 'Blockchain' Technology behind it.
'Blockchain' Technology is the most 'Disruptive' tecnology (in a good way) that we are all going to be a part of. It is still in the infancy stage but the outcome is not one to be ignored.
Thanks for being a part of this thread and the contribution.
And thanks again to Terry for asking the question.
Kindest regards,
Paul.
Paul here from Ontario, Canada.
It pleases me that you took some valuable time to even look into this concept.
Bitcoin was released in 2009 primarily (I think) because of what was happening in the Global Financial Meltdown and 'Bailouts' during that time.
You can read the white paper here:
https://bitcoin.org/bitcoin.pdf
It may or may not help in your further understanding.
Bitcoin is better experienced than explained, but I'll try to give an elevator pitch explanation.
Almost half the World do not have access to adequate banking, so they are inactive participants in commerce. However, 97% of that same population has a cell phone.
All they need to do is open a Blockchain/Bitcoin account (for free), only a valid email account required.
Now, let's say, I am here in Canada, and you are in England for example Debbie. You call me and say, Paul, can you send me a thousand dollars? Here is my receive code.
Traditional methods would take many business days and the transaction could incurr up to $50.00 to complete.
On the other hand, If I have the value of at $1,000.00 dollars in my bitcoin wallet, I would just simply send it to your receive code, Debbie. Within 10-20 minutes the transaction would be confirmed and my cost of sending it to you would be less than $1.
Sorry, probably more than a sixty second elevator pitch.
The key thing to understand (in my opinion) is that it is not about any particular currency but the the 'Blockchain' Technology behind it.
'Blockchain' Technology is the most 'Disruptive' tecnology (in a good way) that we are all going to be a part of. It is still in the infancy stage but the outcome is not one to be ignored.
Thanks for being a part of this thread and the contribution.
And thanks again to Terry for asking the question.
Kindest regards,
Paul.
