The Bitcoin Story

Bitcoin is a consensus network arrangement that allows a new system of payment. It is completely digital money. It is the first decentralized p2p computing payment system of network that is operated by the users without any mediator or centrally operated authority. From the perspective of users, it is simply the cash for using for Internet. Bitcoin is the original accomplishment of the concept named Crypto-Currency, first Conceived in the year 1998 by Wei Dai on the mailing list of cypherpunks. It suggested the conception of using cryptography with a view to controlling the transactions and creation rather than a central authority.

It is becoming easier more and more for the consumers to purchase and use up this cyber currency to buy Bitcoin Goods because it has already captured much of the world of technological world. With the months passing, the entrepreneurs of Bay Area are innovating new technology for the consumers to purchase and lay up Bitcoin, Internet shopping with virtual coins and drive them to friends. In the previous month, a Bitcoin ATM was made publicly opened in the Mountain View.

Now everyone approaches for just about the Internet in their purse or in hip pocket. Other traders that accept Bitcoin are

  • Consumer electronics retailer TigerDirect
  • Adult Products Retailer Adultsmart
  • Handmade goods seller Zealous
  • Online gaming company Zynga
  • Electric car company Tesla

Shop online with Bitcoin or send money to the near and dear ones. With the number of Bitcoin websites increases and growing of apps, the culture of Bitcoin also grows. In February, San Francisco first held it’s held first Bitcoin fair in the month of February in the music festival, beer, beer and vendors of arts that all accept Bitcoin. Just for the reason that it is easier for getting and spending Bitcoin, does not imply that the users are free to cut up their credit cards. It is the opinion of some of the experts in the field of finance. There are number of sites accept Bitcoin for internet shopping, adultsmart.com.au is one them. It is one of the Australia’s online adult shops that sell best adult products as well as sex related toys. Online selling allows the consumers to pass on huge off savings.

What can you buy with Bitcoins?

More and more traders have started to accept Bitcoins in swap over for the goods and the services. But the right place is to search for the merchants and their marketplaces as well as the sites for the aggregator that collects huge number of establishments that support them together presently.  Even though Bitcoin is well matched for buying online services, that never implies that it cannot be employed for material goods also. There are a variety of web sites that put up for sale the products for Bitcoin. Although mostly they accept internet payment. However, a rising number of average high street organizations are becoming tolerant to Bitcoin that are paid on the spot for spot using a digital holder on the electronic devices like mobile for Bitcoin Goods. Bitcoin is a crypto-currency that has transformed the online financial market. In terms of finance, it is an extremely innovative concept. The Bitcoin currency values are determined by algorithms, everything is usually transparent. There are therefore no surprises in change in currency values. Here is brief information why you should use bitcoins.

Internet Currency

Free transactions:

Some of the major benefits of using Bitcoin are seen in the open markets. A Bitcoin could be divided into millions of parts where each part is called satoshi. The flat currency is often broken down into hundreds. The amazing thing is that most of their transaction networks are for free, some include a small transaction fee, but less than a tenth percent. If you compare this with the three percent charged by credit card companies, you will know why Bitcoins are so attractive.

Easily portable:

Bitcoin is quite easy to carry; it can be stored in a memory stick then placed in one’s pocket. This is easier to transport than the normal paper money. Payments using bitcoins are therefore super easy. They can be made from wallets, on your computer or smartphone by simply entering the receivers address with the amount then clicking send. Smartphones can also be used to obtain the receivers address by scanning the QR code.

Anonymity:

If you do not wish others to see what you are buying whether it be government or your partner and friends Bitcoin offers a great solution. When your transaction is risky or private like purchasing drugs, buying porn online even gambling bitcoin is becoming the currency of Choice. Many people also use Bitcoins to avoid paying hefty taxes.

PLEASE NOTE RE ANONYMITY – UPDATE OCTOBER 2017

In 2017 it was discovered that each transaction made through Bitcoin leaves a digital footprint going back to the very first transaction that cannot be removed.  It is believe now that rather than being anonymous as first thought, Bitcoin may be the easiest trackable payment method on the planet.  The continued meteoric rise of Bitcoin value has stopped and has actually decreased over the past months the cause being solely pointed at this fact.

International transfer:

Bitcoins and Satoshies are transferred from one internet used to another without paying anything. This makes possible to make international transfers without messing with exchange rates or expensive bank charges. If you want to use bitcoins you can buy and exchange them with the traditional cash.

Low inflation risk:

Another benefit of bitcoin is that its risk of inflation is very low. Normal currencies suffer from this problem; they frequently lose their purchasing power. Bitcoin does not suffer from the problem of low inflation; this is because Bitcoin mining has been limited to 21 million units. This means that release of Bitcoins has been stopped and the full amount could be mined within later decades. Experts predict that Bitcoin will be next mined in 2050. Exchange rates of Bitcoin is not regulated by the government; this is simply a digital type of currency accessible worldwide.

Low fees:

During Bitcoin shopping, all transactions are processed at extremely low fees or no fee at all. There are also Bitcoin merchant processors who assist merchants to process their transactions, depositing funds into their bank accounts and also converting Bitcoins into fiat currency. Considering the fact that these transaction are on Bitcoins, they are offered at much lower fee as compared to the use of credit cards or PayPal or any other traditional method.

Freedom of payment:

Bitcoins allows its users to have full control of their digital money. Users can send any amount of money instantly to any place in the world at any given time. There are no limits that have been imposed, there are no weekends and holidays and there are no borders when it comes to using this kind of money.

Less risky:

All transactions in Bitcoin shopping are not only secure and irreversible but do not contain merchant’s personal information or any other sensitive information. Therefore, the merchants are protected from fraudulent charge backs and any other form of fraud. That explains why they are not required to be PCI compliant. Merchants are free to venture in new markets where fraud rates are very high and also where credit cards are unavailable.

Control and security:

One other reason why Bitcoins are becoming popular is the fact that merchants are in full control of every transaction they engage in. It is not possible for merchants to impose unnoticed and unwanted charges like what happens while using other methods of payment. Bitcoin transactions are also secure considering the fact that merchants are not required to submit any personal or sensitive information about them. This plays a long way in the prevention of identity theft. Users are also able to protect their Bitcoins with backup and also through encryption.

Neutral and transparent:

All information with regard to Bitcoin transactions is available in the block chain and therefore any merchant is able to verify and use this information in real time. The Bitcoin protocol is secure and therefore no organization or individual can control or manipulate the protocol. This makes the whole process of using Bitcoins Australia trustworthy as it isn’t only transparent and neutral but also predictable.

Bitcoin’s future: 

Just like other great inventions, Bitcoin enjoys support from many followers that are crazy about this idea. They spread it all around increasing its market. Indeed, Bitcoin enjoys support from many enthusiasts that can prove to bring a new and fantastic shape in the future in terms of finance, especially because it gives the power of money back to the people and not being centrally controlled.

The Bitcoin currency is currency that is here to stay; it is not any other simple trend. Everyone is looking for effective ways to improve Bitcoins in terms of how it works and its equipment. The exchanges have put everything to ensure the safety and efficacy of this system. Most entrepreneurs have made use of this chance and built their business on this idea. This is because they have characteristics of conventional money like the Pounds, Dollars or Euros; they have value and can be easily exchanged with other currencies. Bitcoin is a kind of digital currency that was established in 2009. It is a peer to peer payment method that comprises neither middlemen and nor a central authority. It is cash for use on the internet and it is great to use Bitcoins Australia.

Bitcoin is controlled by all its users in the world. It is simply a computer program or a mobile application that allows its users to accept or send bitcoins within the network. The network operates a public ledger referred to as the block chain. This ledger has every transaction that has ever been processed thus allowing users to verify every transaction that has ever been processed. This helps to establish the validity the bitcoins that one has. Until recently Bitcoins has predominately been used to purchase services online or for illegal activities such as gambling or drugs. Now however many keen and smart vendors are offering real goods in exchange for bitcoins. People use various methods to acquire bitcoins, for example, Exchanging with a another person close to you, Purchasing them from Bitcoin exchange, Receiving payments for goods and services. Earning them by competitive mining.

Adultsmart accepts Bitcoin.

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Jennifer works marketing at Adultsmart an online sex toy shop. She has a non-judgemental approach to sex, sex toys and sexuality. Her favorite saying is if it feels good and right and is not illegal then why not!

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