02 Nov '13, 3am

Bitcoin The Currency of the Future?

So you might say I’ve heard Bitcoin is a scam or it is a ponzi scheme! Well not really, what’s happening here is that we’re allowing the Bitcoin network to use our computers to act as servers to process information, so every time our computer is processing information it’s allowing the entire network to operate. When people want to send and receive Bitcoins they need computers to process the data in order to make that transaction. Just to give you an example big banks like Bank of America or Wells Fargo have skyscrapers upon skyscraper of buildings, computers and servers to allow their entire financial network to run. Similarly Bitcoin harnesses the internet and all of the computers on the internet in order to process all these transactions. The price of a Bitcoin is very volatile and by the time you read this blog post the price may be alot higher or lower than $200.

Full article: http://pennystockwhizzkid.com/bitcoin-currency-exchange/

Tweets

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