Bolivia us bitcoin

The need for legends, mysteries – is the foundation of human culture and identity, regardless of where it resides or is doing. Legends were created as large groups of people, such as religious communities, as well as small, such as the Bolivia us bitcoin or clans.

Past Millennium did not deprive people of interest and desire to create new myths. Although careful consideration of all of this goes beyond the simple mystery or myth. Satoshi Nakamoto, it belongs to him first place in the creation of an entirely new community of people, the basis of which he put by his basic principles. It is on this basis and to cooperate. Create and develop a system, he left her and  disappeared.

It is the legend of Satoshi, making this a purely mechanical process anything more than primitive making money doing something other than just a new financial system. Technologies underlying Bitcoins, allow people to have more confidence in each other, cooperate and develop. It is difficult to predict what will grow from Satoshi Nakamoto myth, but would very much like it was the first step, the first step into a new future of mankind. There is no single decision on how to interpret Bitcoin, therefore, different countries have different legal status for this crypto-currency, from tax-free usage to a total ban. The decentralized and anonymous nature of Bitcoin provokes the high attention to it from regulatory agencies.

For example, as early as 2012, the FBI voiced its suspicions about using crypto-currency in money laundering and illegal goods purchase. This made the US senators debate about the legal status of Bitcoin. The latest news show that the EU seeks the ways to control anonymous crypto-currency payments. In other words, they are looking for methods to identify crypto-currency users. Moreover, the EU is going to come up with the list of counrties which will be forbidden to conduct transactions with. Many countries still haven’t come up with the clear decision on crypto-currency. However, there are some countries that have already banned the usage of digital currencies for one reason or another.

China, for example, prohibited the usage of crypto-currency by banks, however, the citizens are not forbidden to use or mine Bitcoins. So what would you need if you happen to start inventing your own crypto-currency? One may think that the most complicated thing is technical part of the project. Well, this is the main mistake of many startups. Technical perfection is great, but marketing is your everything.

If you don’t know how to sell your project, no one would know that it’s great, and useful, and whatever. So the same thing works with new crypto-currency creation: find your audience. Only then, when you have found aliens, and you studied the characteristics of your future crypto-currency together, start coding. Next, you need a team of miners, who will be loyal to your crypto-currency through hard times. This stage requires a lot of good communication, team-building, and promotion. And you have to be even more convincing and oratorical to make merchants sell goods for your new crypto-currency, so that miners had places where they can spend your coins.

So this is the matter of confidence and very hard work with a lot of talking on forums, communities, and social media. And one more thing that you should keep in mind. Your crypto-currency shouldn’t be global, it should meet the needs of the certain community or audience, serve a particular aim, and this will bring it to success within this particular group of users. After the installing the wallet on your computer or phone it will generate your first Bitcoin address. Wallets can be created in the unlimited amount and use their addresses to pay for services or goods, or receive payments yourself.

Now, we should fill this moneyless vacuum inside the wallet. The simplest way to do this is Bitcoin faucet. Faucets are websites that give free Bitcoin, paying them with small amount and with small periodicity. We have to visit the website, enter the Bitcoin wallet address, wait for a moment and receive a reward. The rewards are small, but it is enough to get acquainted with crypto-currency. So here we fulfilled our first transaction.

The transaction is passing money from one Bitcoin wallet to another, the information about this transaction is saved on the blockchain. By virtue of this information wallets can count the balance on your account and check if the Bitcoins are spent with their owner. The integrality and chronological order of blockchain are ensured by the cryptographic methods. Mining confirmation is a distributed system that is used for the verification of transactions by adding them into the block network. For transaction to be confirmed they must be settled into the block that matches the strict cryptographic criteria and is also checked by the network. These rules do not allow to change the previous block, since in such case all the corresponding blocks will be invalid. In more down-to-earth sense mining is the process of producing Bitcoin, since you can offer your resources for the confirmation of the transactions of other network users and receive free Bitcoin for that.