What is bitcoins, or how to buy pizza for a hundred thousand dollars

Tanya Sadovnikova
19.10.2015

What is bitcoins, or how to buy pizza for a hundred thousand dollars

The network has a new "mainstrim" - the so-called "mining". For the uninitiated, this word will not mean anything, but those who have already learned about bitcoins are ready to give a lot to get this cyber currency. What is Bitcoins, where to get them and what you can buy for them, read on.

What is bitcoin

What is bitcoins, or how it all began

Answering the question of what bitcoins are is simple and difficult at the same time. It is possible to give a definition - this is the so-called cyber currency, or, in other words, electronic money, although experts are still not in a hurry to give them that name. This currency was created back in 2009 by Satoshi Nakamoto, and in those days 1 Bitcoin literally cost a penny. Already in 2013, 1 Bitcoin could be sold for $ 266.

Interesting fact. When Bitcoins appeared as currency, one Norwegian resident acquired 5,000 Bitcoins as a joke, paying $ 27 for this. He already forgot about his purchase, until suddenly he heard by chance,that they have increased significantly in price. The most difficult was to remember the password. Having coped with this task, the Norwegian was surprised to find out that he won $ 886,000. Not a bad investment.

Bitcoin storage

What are bitcoins? This is a currency, which can be earned everywhere, having the Internet. Its name comes from the word “bit” - a unit of information and “coin” - a coin. There is no intermediary bank for this currency, as there are no rules and special forms for transfer. Some experts have already compared it with gold - its amount is also limited, while Bitcoin can be exchanged for any other currency.

Where to get bitcoins

Initially, this currency was “mined” with the help of a special program that was installed on its computer. The one who installed the program was paid bonuses for using the power of the computer to solve any long-term tasks.

Electronic currency

However, now experts say that virtual production of coins no longer makes sense - power is required more and more, the computer must be turned on all the time, and light bills can exceed the amount received for virtual bonuses. It is easier to buy electronic currency on the exchange or get it as a payment for goods or real services.

What can be purchased for Bitcoins

In the domestic space, it is still difficult to both buy and buy something for such a virtual currency, however many foreign companies are already ready to accept virtual coins as payment. For example, you can go on a trip by buying a tour from the CheapAir travel company, pay for your studies in Cyprus or pay off in one of the London pubs. Virtual services are also well paid for with such coins.

Bitcoins for sale

But is it worth it? There is a story that happened in 2010 with a British man. Becoming the owner of several coins, he decided to order a pizza and pay them off. It was one of the first recorded transactions of a new virtual currency. If he had exchanged these coins now, more than $ 150,000 would have appeared in his account. A little expensive for the pizza, you do not find?

What are the disadvantages of bitcoins

According to experts, the emergence of a homeless currency triggered a rise in crime. The Silkroad website appeared, where you could buy drugs, weapons and pornography completely anonymously for virtual anonymous currency. The alleged site owner, who was subsequently arrested, even ordered a murder on this site.

Now this site is already closed by the FBI, however, in two years of its operation, drugs worth a total of $ 1.2 billion worth of bitcoins were sold through it.

Future currency

Although this is money that no bank can block in an account, as can happen with money on a credit card, they can simply be stolen. For example, a few years ago, the European payment system BIPS was attacked by hackers. More than 20,000 e-wallet owners for this cyber-currency, stored on the company's server, have lost their collected bitcoins. The same thing happened with the service Inpust.io. And how can you achieve success in business?

There can be a funny incident that has tangible consequences. So, in 2009, when the bitcoins only appeared, the Briton James Howells “mined” 7,500 bitcoins. At that time, their cost was $ 675,000. After a few years, he simply threw the hard drive, to which they were tied, in a landfill.

If he sold the coins he collected now, he would have had more than $ 7 million in his account.

You can also forget the password to receive money. This happens all the time.And no one will recover it, so if you have already become owners of cyber currency, write down the password in a safe place.

 Bitcoins

Of course, both in Russia and in Ukraine it is too early to talk about the wide distribution of the new e-currency, not to mention the legal regulation of its existence. However, it is worth now to think about what can be done in order not to be on the list of the latter, who can get it. Remember, at first, the Webmoney system was also puzzling, but today it is a rather popular service.


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  • What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars

    What is bitcoins, or how to buy pizza for a hundred thousand dollars