Cypriots fleeing to Bitcoins

Cypriots fleeing to Bitcoins

Here we go starting to get some major media coverage, The comment thread is good for a laugh too


Start earning free bitcoins now with this easy guide

for those that don’t know Bitcoin is a decentralized digital currency created by developer Satoshi Nakamoto. It does not rely on a central server to process transactions or store funds. There are a maximum of 2,100,000,000,000,000 Bitcoin elements (called satoshis), currently most commonly measured in units of 100,000,000 known as BTC.
It is the most widely used alternative currency, with the total market cap at over 100 million US dollars.
Bitcoin has no central issuer; instead, the peer-to-peer network regulates Bitcoins, transactions and issuance according to consensus in network software. Bitcoins are issued to various nodes that verify transactions through computing power; it is established that there will be a limited and scheduled release of no more than 21 million BTC worth of coins, which will be fully issued by the year 2140.

Bitcoin wallets

There are a variety of wallets you can use such as bitcoin-qt the original made by “Satoshi” himself it’s slow, took me about 3 days to sync when I first started using it. Right now I prefer coinbase, since it’s locally based pretty fast and cloud based so you can never lose it were your hardware to die etc., and you can covert to fiat currency directly within the site. There are multitudes of others as well instawallet etc. etc.