Thursday , 27 October 2016

How Bitcoin Works & What Purpose It Serves

While many people may be aware of the Bitcoin revolution as it took hold of the Internet a few years ago…most are still not aware of how it works and what purpose it serves online. The infographic below presents a comprehensive analysis of said crypto-currency.



Related Articles from the Vault:

1. Bitcoins: How to Start Using Them & the Security Issues In Doing So

How safe is the cash in your wallet? Just as with hard currencies such as dollars and pounds, the safety of your bitcoins depends on your own vigilance. If you are thinking about using Bitcoin, or already are, this infographic outlines the security concerns and how to go about alleviating them. Read More »

2. Bitcoin Can – and Will – Disrupt the Financial System‏ – Here’s How

Bitcoin has the very real potential to disrupt the existing financial system. Take a look at today’s infographic to find out how. Read More »

3. Bitcoin: the Ins and Outs Of Everyday Use & What the Future Holds

Bitcoin is a decentralized, global, peer-to-peer, digital, online currency but, that said, most are unsure whether or not it is the future of currency and unaware of the potentially massive impacts this crypto-currency holds. The infographic below shows you the ins and outs of everyday Bitcoin use as a way to save money and provide more autonomy in your financial transactions. Read More »

4. 50 Bitcoin Facts On Its History, Versatility, Usuage, Acceptance & Much More

This infographic neatly covers many interesting bitcoin facts in a digestible form. It not only shows the versatility of the bitcoin market, but it also captures the difference of opinion on crypto-currencies: many embrace the technology, but some institutions show signs of hostility. Read More

5. Bitcoin Buzz from Visual Capitalist

What currency is feared by the European Central Bank as a threat to fiat monetary institutions? What currency is cash-like but digitally transmittable allowing for ultimate anonymity and global mobility? What digital currency is up over 2,200% over the last year? It’s Bitcoin. Read More »

6. What Are P2P Currencies (Bitcoin & Litecoin)? Should We Get Some?

Bitcoin is the first peer-to-peer (P2P) digital currency and payment system to gain significant interest. This month its market cap surpassed $1 billion. [Below is a description of what Bitcoin is, and isn’t, and why it has caught on to the extent it has.] Read More »

7. Bitcoin vs. the U.S. Dollar – No Contest – Ever!

Ever since the Federal Reserve embarked on its easy money campaign, everyone and their mother has been on a crusade for an alternative reserve currency. [The euro and China’s yuan have been talked about – and dismissed – as realistic contenders and]…during the world’s desperate search, the Federal Reserve has just continued printing more money. That has only intensified the desire for an alternative. Enter Bitcoin. Ultimately, however, it is all about greed – not a genuine interest in a fundamentally stronger alternative to the status quo – that’s driving Bitcoin prices so forget Bitcoin being a contender as an alternative currency. At best, it’s a speculative investment, and a very speculative one at that. Read More »

8. Bitcoin Is Not the Future of Money – It’s Just Wild Speculation! Here’s Why

All the hype surrounding Bitcoin is a dead giveaway that you should be suspicious. Forget all the economic arguments against the currency, though. The biggest risk is a technological one. Add in the neck-snapping volatility, and you’re telling me this is the future of money? Keep dreaming! It’s little more than a wild speculation. One with a fatal flaw, at that, so please, whatever you do, refrain from converting your life savings – or any meaningful amount of money – into Bitcoins. At least until you read this article. Read More »

9. Bitcoin’s Days Are Numbered: New IRS Rulings Make Mainstream Adoption Impossible

Essentially, Bitcoin transactions are going to be tracked and traced by the government. So much for that anonymity that early Bitcoin adopters touted to encourage adoption, huh? Thanks to the IRS, any involvement with Bitcoins has just become so complicated I remain convinced its days are numbered. Read More »


One comment

  1. are you familiar with bit gold