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June 26, 2013, 03:13:38 AM Last edit: June 26, 2013, 03:30:06 AM by franky1 |
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BitCoin is a crypto-currency, its creation and transfer is based on an open source cryptographic protocol and is not managed by any central authority, simply put BitCoin is a decentralized digital currency.
Bitcoin uses a PTP (peer-to-peer) technology to operate, BitCoins can be transferred Worldwide instantly with almost no processing fees since there is no intermediary and the coins are transferred from person to person, all transaction are final and dont require your PC to be online when you receive them.
How to create new BitCoins ?
New bitcoins are created by the network through mining, in a process that is similar to a continuous raffle draw, mining nodes on the network are awarded bitcoins each time they find the solution to a certain mathematical problem (and thereby create a new block). The reward for solving a block is automatically adjusted so that roughly every four years of operation of the Bitcoin network, half the amount of bitcoins created in the prior 4 years are created.
How to get BitCoins?
There are several ways you can get BitCoins, you can receive them as payment, you can buy them with regular currency, mine them or even get them online by completing offers, viewing videos, affiliate programs or completely free from bitcoin Faucets.
BitCoin?? - Capital C, no thanks nearly every transaction seems to want atleast 0.0001BTC fee.. try rephrasing to very low fee's, as its worded like only 1 out of 100 transactions request a fee. try: individuals within the network - makes it sound less like everyone mines automatically without choice continuous raffle draw makes it sound like its random. the actual fact is the fastest machine wins. EG if everyone solomined. GPU miners would get no chance. ASIC miners would solve every block. its not a chance based game where everyone has an equal chance (raffle) The reward for solving a block is automatically adjusted so that roughly every four years of operation of the Bitcoin network, half the amount of bitcoins created in the prior 4 years are created. try: The reward for solving a block started as 50BTC in 2009 and the reward per block halves every 4 years, ensuring a finite supply of 21 million coins eventually. try:you can receive them as payment from offering goods or services as a merchant, business or trader - gives it more emphases, as there seems to be a lack of merchant adoption. using only 6 words to highlight merchant possibilities.. then 12 words to explain how to get them free, physcologically leaves people thinking they don't have much value try emphasising the business proposition more and condensing the free giveaway explanation
i say all of this from going round speaking to many merchants, users and investors. and having many different 'sales pitches which limit the doubts in peoples minds by how the message first comes across.
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