The Bitcoin Enthusiasm Webpage!
Welcome to the Bitcoin Enthusiast website! Here I will be enthusing about why we should all be using the revolutionary Bitcoin (BTC) currency and how it is the future of world currency!..
So what is Bitcoin and why is it so good?!
Bitcoin is a real, digital currency made up of bits of information that can be bought at exchanges such as Mt. Gox and Britcoin and can be downloaded to computer via a program called the Bitcoin Client. It is a virtual currency invented by the mysterious Satoshi Nakamoto (alias – real identity unknown!) in 2009.
Bitcoin is fairly new but already there are many web places that use Bitcoins.
Bitcoin is an alternative currency for those who are looking for a way around the corrupt worldwide banking system i.e. Visa, PayPal etc.. and the extortionate charges they make us pay for their “services”. It is also known to be the world’s first “peer-to-peer” and fully decentralized currency: i.e. no powerful intermediate company to charge you fees or hold your cash when you might want to use it. It is fully in your hands and there are no limitations on what you can buy or on the number of ways how you can use this currency.
Reasons to Buy/Use Bitcoins!
- Because the “Authorities” are not trying to extort you for using their system for transferring monies – it costs just 0.01 BTC to send Bitcoins from the Client. (Even trading on the exchanges costs next to nothing!)
- Because it is easy to install the program, get Bitcoins and start using them. All it takes is to download the Bitcoin Client and then you can start downloading Bitcoins either through buying them from an exchange or getting them from friends.
- Bitcoins may continue to rise in value. In 2009, Bitcoins were worth just a few fractional cents. In 2011 Bitcoin rose from a few dollars in value to over $30 within a few short days at the main exchange Mt.Gox before falling back to around $20. Despite recent setbacks, Bitcoin has weathered the storm and many speculate they could appreciate wildly in value in the future due to the limited supply of Bitcoins (capped at 21 million BTC generated by 2030) and a popular growth in demand.
- Transactions are basically anonymous: there is no record of transactions that can be traced back to you without access to your computer and only large scale serious financial criminals have anything to worry about.
- High volatility: As a tradeable commodity, Bitcoins’ value has fluctuated wildly on the exchanges which provides a great opportunity for wise investors and speculators to cash in on a little profit.