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1. WHAT IS BITCOIN?



BITCOIN is a Digital Currency where encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. The system on which Bitcoin relies operates independently of a central bank. It’s a decentralized peer-to-peer payment network powered by its users with no central authority or middlemen. To simplify, from a user perspective, Bitcoin is like cash for the Internet.

WHAT IS SATOSHI?
A Satoshi (in honor of Satoshi Nakamoto, the inventor of Bitcoin) is the smallest fraction of a Bitcoin that can currently be sent. 1 Satoshi equals 0.00000001 BTC, that is, a hundredth of a millionth BTC.

WHAT IS A FAUCET?
A faucet is a website that gives free bitcoins as reward for doing a simple task, such as clicking on an ad, solving a CAPTCHA or viewing a page for a certain time.

WHY SHOULD I INVEST IN BITCOIN?
Bitcoin is a great investment opportunity. Someone says that investing in Bitcoin is like investing in gold because it is portable, divisible, durable and, because of how it is generated, there will be a limited supply of it. So its value should increase over time like gold’s value. If you use our site you can get your first free bitcoins and you will then see their value increasing, if such prediction is correct.

And please remember that investing in Bitcoin may also led to  losses. So, if you’re thinking to invest your “traditional” money in Bitcoin don’t invest more than you can afford to lose.




[BITCOIN FULL STORY]

Bitcoin is a payment system introduced as open-source software in 2009 by developer Satoshi Nakamoto. The payments in the system are recorded in a public ledger using its own unit of account, which is also called bitcoin. Payments work peer-to-peer without a central repository or single administrator, which has led the US Treasury to call bitcoin a decentralized virtual currency. Although its status as a currency is disputed, media reports often refer to bitcoin as a cryptocurrency or digital currency.

Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for fiat money, products, and services. Users can send and receive bitcoins electronically for an optional transaction fee using wallet software on a personal computer, mobile device, or a web application.

Bitcoin as a form of payment for products and services has seen growth,and merchants have an incentive to accept the digital currency because fees are lower than the 2-3% typically imposed by credit card processors. The European Banking Authority has warned that bitcoin lacks consumer protections. Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and charge-backs are impossible. Commercial use of bitcoin is currently small compared to its use by speculators, which has fueled price volatility.

Bitcoin has been a subject of scrutiny amid concerns that it can be used for illegal activities. In October 2013 the US FBI shut down the Silk Road online black market and seized 144,000 bitcoins worth US$28.5 million at the time. The US is considered bitcoin-friendly compared to other governments. In China, buying bitcoins with yuan is subject to restrictions, and bitcoin exchanges are not allowed to hold bank accounts.

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