Bitcoin is an innovative payment network and a new type of money.
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The mobile bitcoin client allows you to make payments according to the scan-and-pay scheme. No need to roll a card, dial a PIN code or sign anything. All you need to accept payment is to open the QR code in your mobile wallet and show it to a friend so that he can scan the code with his mobile phone, or just bring the phones to each other (if you use NFC technology).
Bitcoin transactions are protected by top-level cryptography. No one can charge you money or make payments on your behalf. As long as you take the necessary actions to protect your wallet, Bitcoin gives you control over your money and a high level of protection against all kinds of fraud.
As with e-mail, you do not need to use the same programs or use the services of the same provider as your friends. Let everyone use what they like. There will be no problems in this regard, all Bitcoin software is compatible, as it uses the same technology. The Bitcoin network is always working, even on holidays!
Sending bitcoin across the border is as easy as across the road. There are no intermediary banks because of which you can wait three working days, no unnecessary commissions for making international transfers, no restrictions on the amount of the transfer.
No commission is charged when receiving bitcoin and many wallets allow you to set up a commission when making a transaction. The higher the commission, the higher the priority for obtaining confirmation of transactions by the network. The commission does not depend on the amount of the transfer and it is likely that the same commission may be charged when transferring 100,000 and 1 bitcoin.
Anonymous payments are part of our daily lives, because most purchases in the real world are made without mandatory identity verification. Bitcoin provides similar freedom online. It allows you to purchase services and make donations without annoying X-rays. However, keep in mind that complete anonymity requires additional action.
The Bitcoin protocol allows not only the transfer of money from point A to point B. It has many functions and opens up various opportunities that the community is still studying. Here are some technologies currently studied and in some cases implemented in real products and services. The most intere
Bitcoin allows you to achieve an unprecedented level of security. The network protects users from the most common frauds, such as refunds or unauthorized debits, and bitcoins cannot be forged. Users can back up or encrypt their wallets, and bitcoin storage devices can make it very unlikely to steal or lose your money in the future. Bitcoin is designed to allow users to exercise full control over their money.
All payments in the world can be fully compatible. Bitcoin allows any bank, company or individual to safely send and receive payments anywhere and anytime, with or without a bank account. Bitcoin is available in countries that are still out of reach of most payment systems due to their limitations. Bitcoin increases global trade availability and can help the flourishing of international trade.
With the help of cryptography, secure payments are possible without a slow and expensive intermediary. Bitcoin transactions are much cheaper than alternatives and can be executed in the shortest possible time. This means that Bitcoin has the potential to become a standard way to transfer funds in the future. Bitcoin can also play a role in reducing poverty in many countries by reducing high commissions for employee payroll transfers.
Bitcoin has shown special effectiveness for tips and donations. Sending a payment requires only one click, and receiving can be as easy as displaying a QR code. Donations will be visible to users, providing greater transparency for non-profit organizations. In case of emergencies, donations in bitcoins can contribute to a faster international response.
Bitcoin can also be used to conduct Kickstarter-like fundraising campaigns. At the same time, people promise the project funds that will be written off only if the fundraising goal is achieved. Such contracts are supported by the Bitcoin protocol through a mechanism that prevents translation until all the conditions are met.
Imagine listening to Internet radio, paid per second, watching web pages with small tips for each ad that is not shown to you, or buying WiFi point bandwidth in kilobytes. Bitcoin is effective enough to make all this a reality. Learn more about the technology that allows you to make micro-payments in bitcoins or future updates that are currently being created for more affordable micro-payments.
Due to the high degree of decentralization, Bitcoin has created an alternative form of payment system with greater stability and potential. Bitcoin can provide trading for millions of dollars, without the need for military protection. It does not have a vulnerable center such as a data center, it will require an attack on the whole network, which is a much more complex project. Bitcoin can be an important step forward in ensuring the security of local and global financial systems.
All bitcoin transactions are publicly available and transparent, but the identity of the people behind these payments is unknown by default. This allows people and organizations to work according to flexible rules of transparency. For example, a company may, at its discretion, open some transactions and balance sheets for specific employees, just as non-profit organizations can freely allow the public to see how many donations they receive per day or month.
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