Monday, June 24, 2013

What are Bitcoins, Why Buy Them, and Where Do I Get Some?

A Better America suggest some changes to our economic system. Many very talented young people are creating new and better ways of managing the exchange of goods and services. One area that is new to most Americans is "crypto currency" and the most well known of these is called Bitcoin.

Bitcoins are the absolute best new way to exchange goods and services in the world today. They are computer based, and can be used to buy and sell products and services, just like Dollars or Euros. If you have a smart phone, iPad or computer you can use Bitcoins to purchase or sell anything.

There are some big advantages to using Bitcoins. One is the high likely-hood that they will increase in value over time, as contrasted with the US Dollar. For example if you bought one Bitcoin for one dollar three years ago, now that same Bitcoin is worth $125 dollars.

Bitcoins can be used in any country in the world without needing to worry about exchange. Wether you are spending a week in Brazil or London you can use the exact same Bitcoins. Berlin, Germany has become the “home” of Bitcoin in Europe, with Spain and Greece not far behind. In Asia, Japan leads the way with Mt. Gox as the largest exchange in the world.

Finally, never worry about keeping receipts or records of your transactions. Officially Bitcoins are not considered money. So you can move your Bitcoins privately without concern for various government rules, bank fees, or credit card charges.

When asked, how to buy Bitcoins, I recommend the following website:

On this site, you will see a list of people in your area that buy and sell Bitcoins. Typically this is the best way to go for a beginner. Meetup groups are also found in most larger population centers.

This will give you a chance to meet people and ask questions. Most people involved with Bitcoin are well educated and quite helpful to new people. They will also show you how to exchange products or services using Bitcoins.

Will the financial winners, with the government acting as their enforcer, give you trouble if you use Bitcoin? Maybe. Even though Bitcoin is a better, more sound system of exchange for the modern world, the winners with dollars will not want to take a chance on acquiring their wealth again with a new medium of exchange.

1 comment:

  1. Thank you for the helpful information. I also think that is a good website, it has very helpful information for bitcoin trading, bitcoin news, breaking forex news, forex trading, commodities news, etc.