Bitcoins are an online payment system that was established in January of 2009. It was invented by an individual or individuals under the online alias Satoshi Nakamoto. The system runs on open-source software, which means the originator makes the software available for others to collaborate with an approved license. This process allows for exchange companies to record and view transactions on a publicly distributed ledger. The cryptocurrency is defined by the United States Treasury as a decentralized online currency. What is unique is that the system also allows for bitcoin users to interact and trade peer-to-peer without any intermediate broker.
With the growing success of bitcoins around the world, there was a need for organizing and establishing of ethical principles. The Bitcoin Foundation, a registered non-profit corporation based in the United States was started to help bring awareness to the use and advantage of bitcoin use by standardizing, protecting, and helping establish standards for cryptocurrency. The foundation is led by Bitcoin developer Gavin Andresen, who serves as the "Chief Scientist." Mr. Andresen is an alumni of Princeton University and has a background in Silicon Valley tech companies.
As bitcoins grow in popularity among the general public, investors, online merchants, and brokerages are beginning to accept them as payment for goods or services. The advantage for these merchants who offer the ability to purchase via Bitcoin is that the purchasers pay the processing fees. Bitcoins are becoming increasingly popular as online developers are constantly developing software and tools that help utilize their future values. Paul Vernon Cryptsy of Delray Beach-based Cryptsy.com is among one of the leading cryptocurrency trading servicers. They currently service over two-hundred different types of cryptocurrency with more than three hundred thousand transactions daily.
With the growing success of bitcoins around the world, there was a need for organizing and establishing of ethical principles. The Bitcoin Foundation, a registered non-profit corporation based in the United States was started to help bring awareness to the use and advantage of bitcoin use by standardizing, protecting, and helping establish standards for cryptocurrency. The foundation is led by Bitcoin developer Gavin Andresen, who serves as the "Chief Scientist." Mr. Andresen is an alumni of Princeton University and has a background in Silicon Valley tech companies.
As bitcoins grow in popularity among the general public, investors, online merchants, and brokerages are beginning to accept them as payment for goods or services. The advantage for these merchants who offer the ability to purchase via Bitcoin is that the purchasers pay the processing fees. Bitcoins are becoming increasingly popular as online developers are constantly developing software and tools that help utilize their future values. Paul Vernon Cryptsy of Delray Beach-based Cryptsy.com is among one of the leading cryptocurrency trading servicers. They currently service over two-hundred different types of cryptocurrency with more than three hundred thousand transactions daily.