Global Business Opportunities (GBO): The Bitcoin Revolution Presentation Part 1

Ok. Here I start today's presentation titled *THE BITCOIN REVOLUTION*

*What is Bitcoin?*

Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralizeddigital currency without a central bankor single administrator that can be sent from user-to-user on the peer-to-peerbitcoin network without the need for intermediaries.

Transactions are verified by networknodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name *Satoshi Nakomoto* and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies,products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

*A Beginner's Guide to Owning Bitcoin*

By now you know enough about Bitcoin to want in, but you’re not sure how to get some of your own. Below is the procedures and steps to own Bitcoin

First, get a digital wallet

Your first step (for real this time) is to acquire a digital wallet to stash your future bitcoins in. Bitcoin wallets allow you to store, send and receive bitcoins. You can get one from an Internet-based wallet service, like Coinbase or Blockchain.info (more on wallets in a later).

Both online Bitcoin wallets are widely considered secure, though, just like any other company these days, neither can guarantee 100 percent protection against breaches. Each one also has a mobile app for Android users.

Or, if you’d rather store your digital cash locally, on your computer’s hard drive, you can download a “desktop” wallet app, like MultiBit. It’s on you, though, to regularly back it up and not lose your computer (or accidentally chuck it in the trash).

With a wallet service, you can establish one or more Bitcoin addresses. Your address enables you to receive bitcoins from others. Bitcoin addresses tend to be long and convoluted. For example, mine is 1KMtXG977v1QsGvfLM7Q1g6qEQJnLv64rD. People don’t need to know anything more than your address to send you bitcoins. No real world addresses necessary.

Once you’re the proud, new owner of a digital wallet, there’s only one thing to do: fill it with bitcoins (or, because they're not cheap, fractions of a Bitcoin).

Word of caution: Before you buy your first bitcoins, be sure to secure your Wallets. More on Bitcoin Wallet Security other times.

*Four Ways to Own Bitcoin*

1. Buy them from a Bitcoin exchange.

This is the most straightforward, yet generally least anonymous option. Bitcoin exchanges allow users to buy and sell bitcoins for local currency at the current market rate. These often require that you transfer money from your bank account to your Bitcoin exchange account.

2. Buy them from a friend or a nearby trader.

There may be more people in your local area trading Bitcoin than you’d think. Find them by stopping by LocalBitcoins.com and entering your nearest city.

You can meet the trader in-person, ideally at a public place. This can be sketchy if you’re not careful, just as rendezvousing with any stranger for any reason might be. We don’t recommend it, especially if you’re alone.

LocalBitcoins.com says you can also buy from exchangers online via bank transfer or a host of other electronic payment methods, including PayPal, Moneygram and Western Union. The company charges a small fee per transaction.

Or, if you know of any friends or colleagues holding bitcoins, ask them if they’ll spot you a fraction of Bitcoin. Or, if you want to go whole hog and spend the big bucks, ask if they’ll trade you a whole BTC or a bunch. If you can’t think of anyone who owns bitcoins, try looking for people across your social networks who might be open to giving you some.

*The good news is that I buy and sell Bitcoin & Ethereum. Contact me if you need any of them*

3. Accept Bitcoins as payment for goods or services you provide.

Let’s say you own a donut shop. Simply let your customers know you accept Bitcoin as payment by chatting it up with them, putting up a sign or notifying them via email newsletter. But before you do, choose a merchant Bitcoin payment processing service, like BitPay, to facilitate your bitcoin payments and convert them to USD.

Or, if you bill your customers via invoice, just add your Bitcoin address to your invoice. Hopefully they have some BTC. Be sure not to accidentally include your private key for your Bitcoin address. A private key acts as a password, the secret number that enables bitcoins to be spent. You’re leaving your bitcoins ripe for hacking if you expose your private keys.

4. Mine them.

Mining bitcoins is incredibly complex and, honestly, probably isn’t something beginners should dabble in. The process involves using special software (and expensive mining computers that suck up tons of power) to solve mathematical algorithms in exchange for bitcoins.

I buy, sell, accept and mines Bitcoin.

For example I accept Bitcoin for my eBook

http://mygbo.blogspot.com/2018/12/how-to-make-money-in-information-and.html?m=1

I also mines Bitcoin with two reputable mining company see info below 👇

1. AWS Mining

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