Where did bitcoin come from? it was an idea designed by "Satoshi Nakamoto" in 2008 that then became a community and now an unstoppable force for banks to reckon with, Bitcoin is not bound by taxes and laws because it is decentralized, Meaning it cannot be controlled or contained by one entity, Bitcoin validation is spread across its miners and users , everyone is validating everyone so that no one can be fooled by anyone because everyone who owns a Bitcoin knows about a transaction anonymously.
Why use bitcoin instead of credit cards, debit cards or Paypal? All payment systems we have today operate through a pull mechanism. You authorize permission to a merchant or an intermediary (like Paypal) to withdraw funds from your account by providing credentials (account number, billing address, etc) and you trust both the merchant and the intermediaries in between to secure your privileged information and to pull from your account responsibly. Anyone in between who get access to this may be able to withdraw funds from your account. Because of this, they have to assume every transaction with a degree of distrust and suspicion. In many inconvenient situations, you may be locked out of your own money even though it's yours. You may have to prove that you are who you are to get access to your own money!
Bitcoin is now more valuable than gold? Bitcoin,Latest exchange rate of 1 Bitcoin in Philippine Peso, Buy:₱203,544.00 PHP Sell:₱192,533.00 PHP Source : http://Coins.ph that nebulous digital currency that trades in cyberspace and is “mined” by code-cracking computers, emerged as a better bet this year than every major foreign-exchange trade, stock index and commodity contract.The electronic coin that trades and is regulated like oil and gold surged 79 percent since the start of 2016 to $778, its highest level since early 2014, data compiled by Bloomberg show. That’s four times the gains posted by Russia’s ruble and Brazil’s real, the world’s top two hard currencies. Read more here at bloomberg's article.
Bitcoin and other cryptocurrencies enlist the trust to the network (blockchain) and the cryptography that secures it, not any third party or central authority. Because of this, it operates on a push mechanism and into a trustless system. You "send" value to another party through the network the same way you would send email through the internet. You are guaranteed that the transaction occurs, and it is cryptographically secured so that it can't be reversed. Because of this, you control your own money and no one can stop you from sending value - you are in effect, will always have access to all of your money.Now, the nuance is very subtle, but because the system does not require counterparty trust of your credential, suddenly it cannot be taken away from you without your authorization. Also, this means that you are also responsible for the security of your money, so it shifts the security from the third part(ies) that you may or may not know about, to one that you know - you.
How secure itCoin is? Like in real life, your wallet must be secured. Bitcoin makes it possible to transfer value anywhere in a very easy way and it allows you to be in control of your money. Such great features also come with great security concerns. At the same time, Bitcoin can provide very high levels of security if used correctly. Always remember that it is your responsibility to adopt good practices in order to protect your money
Bitcoins are taking over the crypto-currency marketplace. They’re the largest and most well-known digital currency. Many large companies are accepting bitcoins as a legitimate source of funds. They allow their online products to be bought with bitcoins. With the extreme facilitation of transfer and earning of bitcoins, it would be a mistake not to accept these new-found online coins as cash.
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There are even hundred more popular company accepts Bitcoin as an alternative payment method for their valued customers, See list here ( 100+ Businesses accepts Bitcoin ).. Many new emerging companies also preffer Bitcoin transaction because of its fast, tax'less transactions and customer anonimosity. Unlike credit cards and PayPal, Bitcoin has no central authority and no way to lock entire countries out of the network. Merchants who accept Bitcoin payments can do business with anyone.
www.coins.ph One of the main Bitcoin Wallet here in the Philippines is Coins.ph, This Bitcoin wallet is very Secure and Flexible you can cash in at any 7-ELEVEN, Cebuana Lhuillier and other more, you can even cash in via deposit in any BDO Bank with full transaction fee rebate, Cash out is also very easy, from cardless ATM to pera padala to anyone, the posibilities are endless, you can even pay Typical household Bills and other commodity services with this Bitcoin wallet, you can create your coins.ph account here.
www.coinspayments.com An alternative more featured Bitcoin wallet for a more advance crypto Currency User, CoinsPayments have more feature tailored for business merchants in mind in recieving Bitcoin and other Crypto Currency payments , Register with this Bitcoin Wallet if you want to also transact with other merchants with over 55+ Crypto Currency at your disposal.
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