Quote
Bitcoins?
Bitcoins are a virtual commodity, a form of online currency.
The currency can be traded with other users, used to purchase goods and services where they are accepted, or used to purchase fiat currencies like the US dollar.
The technology involved in Bitcoins allows for instant, irreversible payments that bypass the safeguards of the centralized banking system.
There is no formal dispute resolution service available. Instead, users are expected to verify for themselves the trustworthiness of those they deal with.
The Bitcoin network, which came into existence in early 2009, is not backed by any government-issued currency.
Bitcoins are a virtual commodity, a form of online currency.
The currency can be traded with other users, used to purchase goods and services where they are accepted, or used to purchase fiat currencies like the US dollar.
The technology involved in Bitcoins allows for instant, irreversible payments that bypass the safeguards of the centralized banking system.
There is no formal dispute resolution service available. Instead, users are expected to verify for themselves the trustworthiness of those they deal with.
The Bitcoin network, which came into existence in early 2009, is not backed by any government-issued currency.
Great actual description, including the diligence because of the recent spams.
