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What is cryptocurrency? It act like paper money and gold before it, bitcoin for instance is a currency that allows parties to exchange value. Unlike its predecessors crytpocurrency is digital and decentralized. For the first time in history, people can exchange value without intermediaries, which translates to greater control of funds and lower fees. Bitcoin mechanism: The blockchain
- Bitcoin uses public-key cryptography, peer-to-peer networking, and proof-of-work to process and verify payments.
- They are sent (or signed over) from one address to another with each user potentially having many, many addresses.
- Each payment transaction is broadcast to the network and included in the blockchain so that the included bitcoins cannot be spent twice.
- After an hour or two, each transaction is locked in time by the massive amount of processing power that continues to extend the blockchain.
Bitcoin offers an unprecedented opportunity to monetize loyal customers. Word of mouth advertising is a powerful attribute to any corporation. Recommendations from friends or family quite often will result in sales. Micropayments of Bitcoin allow you to give your marketing budget the team it needs to encourage buyers. Your marketing team is your customer!
Simple steps to a profitable
WHAT IS BITCOIN? The world's first global currency and asset.