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Topic: Letter to a company about Bitcoin - page 2. (Read 2434 times)

legendary
Activity: 1246
Merit: 1014
Strength in numbers
March 12, 2012, 02:59:00 AM
#1
I haven't sent it yet, please critique. Also feel free to adapt and use.
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Maybe you're already familiar with Bitcoin, but just in case I want to give you a quick overview. You'll probably find it interesting at least even if you decide not to use it now.

Bitcoin is peer to peer money. No banks are required, any user can send bitcoins directly to another user without permission and without restriction. No one at all has special privilege with regards to Bitcoin or the Bitcoin network. Bitcoin is code that people run on their computers. It is also the name of the network that emerges when those computers are connected.

Bitcoin is a different currency, not another form of dollars like PayPal or Dwolla. It's value is set only by what people are willing to pay for it. Recently it's been fairly stable around $4.90/BTC, but historically it fluctuates a lot.

MtGox.com is the largest exchange, in the last day people traded about $200,000 worth of Bitcoins there.

Bit-Pay.com helps businesses integrate bitcoin and if desired sell them automatically upon receipt to avoid exchange rate risk.

Bitcoin.org is the 'official' site and has links to more information.

I'm not an expert, just an enthusiast but I'm more than happy to help you find answers to any questions you have.
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