{"id":363,"date":"2013-12-11T13:33:44","date_gmt":"2013-12-11T13:33:44","guid":{"rendered":"http:\/\/blog.buzzoole.com\/?p=363"},"modified":"2018-05-29T16:26:02","modified_gmt":"2018-05-29T14:26:02","slug":"roll-money-take-bite-bitcoins","status":"publish","type":"post","link":"https:\/\/blog.buzzoole.com\/en\/business\/roll-money-take-bite-bitcoins\/","title":{"rendered":"Roll with the money and take a bite out of bitcoins"},"content":{"rendered":"<p>Gone are the days of credit cards and cash online now that the <strong>shiny new currency <a href=\"http:\/\/bitcoin.org\/en\/\">bitcoin<\/a> has arrived on the scene<\/strong>. This new form of currency that is ever changing is the money of the future. <strong>With its own ecosystem<\/strong> and users all over the world, no matter how much banks may hate it, people are catching on and it doesn&#8217;t seem to be going anyway anytime soon.<\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: center;\">\n<a href=\"http:\/\/blog.buzzoole.com\/wp-content\/uploads\/2013\/12\/Bitcoins2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-365\" src=\"http:\/\/blog.buzzoole.com\/wp-content\/uploads\/2013\/12\/Bitcoins2.jpg\" alt=\"Bitcoins2\" width=\"736\" height=\"456\" srcset=\"https:\/\/blog.buzzoole.com\/wp-content\/uploads\/2013\/12\/Bitcoins2.jpg 736w, https:\/\/blog.buzzoole.com\/wp-content\/uploads\/2013\/12\/Bitcoins2-300x185.jpg 300w\" sizes=\"(max-width: 736px) 90vw, 736px\" \/><\/a><\/p>\n<p><!--more--><\/p>\n<p><strong>Blogger, <a href=\"https:\/\/medium.com\/@tonydiepenbrock\">Tony Diepenbrok<\/a> gives a short summary of <a href=\"https:\/\/medium.com\/bitcoins-digital-currency\/a9a8c094feaf\">what exactly bitcoins are<\/a>.<\/strong> Basically it&#8217;s an open source currency where people can take part in peer-to-peer (P2P) transactions and it seems to have started about 5 years ago online.<\/p>\n<p><a href=\"http:\/\/www.pcmag.com\/article2\/0,2817,2417741,00.asp\">PCMag.com<\/a> stated in one of their blogs that the <strong>way to &#8220;mine&#8221;\u00a0or get new bitcoins<\/strong> is that the network will increase the money supply as a geometric series until the total number of bitcoins reaches 21 million <strong>bitcoins<\/strong> (BTC). Bitcoin releases a 25-coin reward to the first node in the network that solves a difficult mathematical problem requiring a certain amount of brute-force computation. Everyone in the network is then notified of the solution, and competition for a new block and its 25-coin reward renews. Currently 25 bitcoins are generated roughly every 10 minutes.<\/p>\n<p><strong>A short video looking at &#8216;Bitcoin&#8217;, as a decentralized digital currency explains in detail how bitcoin is made, from where and how it&#8217;s being used.<\/strong><br \/>\nDirected, Designed and Animated by Duncan Elms &#8211;<a href=\"http:\/\/www.duncanelms.com\/\" target=\"_blank\" rel=\"noopener\"><b>duncanelms.com<\/b><\/a><br \/>\nWritten and Voiced by Marc Fennell &#8211;<a href=\"http:\/\/www.marcfennell.com\/\" target=\"_blank\" rel=\"noopener\"><b>marcfennell.com<\/b><\/a><\/p>\n<p><iframe loading=\"lazy\" src=\"\/\/player.vimeo.com\/video\/63502573\" width=\"500\" height=\"281\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"http:\/\/vimeo.com\/63502573\">Bitcoin Explained<\/a> from <a href=\"http:\/\/vimeo.com\/duncanelms\">Duncan Elms<\/a> on <a href=\"https:\/\/vimeo.com\">Vimeo<\/a>.<\/p>\n<p>And, to stay with the modern times there are <strong>apps being made to keep your bitcoin wallet under watch at all times<\/strong>. <a href=\"http:\/\/thenextweb.com\/apps\/2013\/10\/23\/coinbases-ios-app-lets-buy-sell-send-bitcoin-iphone\/#!pCZtL\">Coinbases&#8217;s app<\/a> let users buy, sell, send and manage their pool of the virtual currency right from their iPhone<\/p>\n<p>According to <a href=\"http:\/\/www.visualcapitalist.com\/\">Visual Capitalist<\/a> the reason why people like <strong>Bitcoin<\/strong> is that it is <em>decentralized, secure, public, anonymous, digital and stable<\/em>. To explain:<\/p>\n<p><em><b>Decentralized<\/b><\/em>: Not run by one company or organization<\/p>\n<p><em><b>Secure<\/b><\/em>: Highly encrypted and virtually impossible to compromise<\/p>\n<p><em><b>Public<\/b><\/em>: There is a public ledger of transactions called the &#8220;block chain&#8221; &#8211; the transactions are public, but the parties involved are anonymous<\/p>\n<p><em><b>Anonymous<\/b><\/em>: Anonymity and traceability are defined by the user<\/p>\n<p><em><b>Digital<\/b><\/em>: They are completely digital and therefore global<\/p>\n<p><em><b>Stable<\/b><\/em>: The money supply is predetermined and embedded within the encrypted network<\/p>\n<p><b>Over 74,000 bitcoins are <a href=\"http:\/\/bitcoincharts.com\/\">exchanged<\/a> every hour<\/b> so if you haven&#8217;t researched them yet now&#8217;s the time to get involved and not be left behind. While many markets are still opposed to this new currency, every day more and more are opening up to the idea. With today&#8217;s fast-paced internet age by next year we wona&#8217;t be looking at any more opposition and it&#8217;s best to hop on this <strong>Bitcoin<\/strong> train before it passes you by.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/blog.buzzoole.com\/wp-content\/uploads\/2013\/12\/bitcoin.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-368\" src=\"http:\/\/blog.buzzoole.com\/wp-content\/uploads\/2013\/12\/bitcoin.jpg\" alt=\"bitcoin\" width=\"462\" height=\"260\" srcset=\"https:\/\/blog.buzzoole.com\/wp-content\/uploads\/2013\/12\/bitcoin.jpg 660w, https:\/\/blog.buzzoole.com\/wp-content\/uploads\/2013\/12\/bitcoin-300x168.jpg 300w\" sizes=\"(max-width: 462px) 90vw, 462px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gone are the days of credit cards and cash online now that the shiny new currency bitcoin has arrived on the scene. This new form of currency that is ever changing is the money of the future. With its own ecosystem and users all over the world, no matter how much banks may hate it, &hellip; <\/p>\n<p><a href=\"https:\/\/blog.buzzoole.com\/en\/business\/roll-money-take-bite-bitcoins\/\" class=\"more-link\">Read more<span class=\"screen-reader-text\"> &#8220;Roll with the money and take a bite out of bitcoins&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Roll with the money and take a bite out of bitcoins - Buzzoole<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.buzzoole.com\/en\/business\/roll-money-take-bite-bitcoins\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Roll with the money and take a bite out of bitcoins - Buzzoole\" \/>\n<meta property=\"og:description\" content=\"Gone are the days of credit cards and cash online now that the shiny new currency bitcoin has arrived on the scene. 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