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E-commerce companies have started accepting payments in Bitcoins as a form of currency. Bitcoins were created to have a form of currency that is safe to transfer but does not go through any institutions. No government based institutions will be able to issue these currencies or limit these currencies. However, there is a limit on the currency, once Bitcoin currency reaches 21 million, there will be no newer coins into circulation. So, only 21 million bitcoins will be in circulation online.
How to obtain bitcoins? Well, this is the tricky part. Now, bitcoins can be purchased for real money depending on the rate of conversion. A person can even make money but just buying and selling bitcoins for real money.
However, the real way that bitcoins started is by doing complex mathematical calculations. This process is known as bitcoin mining. They must then link their bank accounts to this service. Following this they can them purchase bitcoins from a seller.
Bitcoins only require an email address and they assign the user a Bitcoin address that you can give to people to give you money. The address work as an individual identity of the user, a person can also apply for multiple Bitcoin addresses. However, this requires having super computers that are fast and are able to compute high levels of mathematics.
There are also many different software available for Bitcoin Mining that a person can download on their computer to run it. Viewed 3k times. Whats the best way to utilize such a setup? Thanks guys! Improve this question. Totoro Totoro 11 1 1 silver badge 2 2 bronze badges. Add a comment. Active Oldest Votes. Improve this answer. Tony Tony 1, 6 6 silver badges 21 21 bronze badges.
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