Bitcoin - Definition

Bitcoin popularly called BTC for short is the first decentralized digital currency used for exchange and payment for goods and services just like paper money. Bitcoin was believed to be created in 2009 by a software engineer named Satoshi Nakamoto. Though BTC did not gain much relevance initially until 2011 which witnessed the first major price increase. Bitcoin has also become very popular as a payment currency primarily because of its low transaction fees and for the fact that it is not controlled by any government institution. Today, over $7 billion of the currency is believed to be in circulation currently.

Bitcoin is a virtual currency which means that you cannot find the physical value, btc balances are kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments institutions. Bitcoin is stored using the blockchain technology and are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them.

How Bitcoin Works

Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as "miners," are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionth of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places.

Recent Bitcoin Trend

As of April 2017, one bitcoin is worth $1,223 – a considerable jump from late 2016, when it was around $770. BTC price is also quite dependent on the size of its mining network, since the larger the network is, the more difficult – and thus more costly – it is to produce new bitcoins. As a result, the price of bitcoin has to increase as its cost of production also rises. The Bitcoin mining network's aggregate power has more than tripled over the past twelve months. Currently one bitcoin is over $11,000 US Dollars.

http://www.naijabusinesscoach.com/2017/12/how-to-make-money-from-bitcoin-in.html for full article

Ways to Earn Bitcoin in Nigeria



Mining Bitcoin

Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block using high technology powered computing devices, which is added to the blockchain, and receiving a reward in the form of few bitcoins. The block reward was 50 new bitcoins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases. The mining difficulty began at 1.0 with Bitcoin's debut back in 2009; at the end of the year, it was only 1.18. As of April 2017, the mining difficulty is over 4.24 billion. Once, an ordinary desktop computer sufficed for the mining process; now, to combat the difficulty level, miners must use faster hardware like Application-Specific Integrated Circuits (ASIC), more advanced processing units like Graphic Processing Units (GPUs), etc. Due to the continues increase of the price of bitcoin as against major physical currencies such as the dollar, and th high technological requirements, it is becoming more and much more difficult to mine it successfully.


Receiving Bitcoin As Payment

Bitcoins can be accepted as a means of payment for products sold or services provided. Most international websites and shopping stores now accept bitcoin as a payment. Example of such shopping website is www.overstock.com. There is a rumour that Amazon will start accepting BTC soon. According cnbc.com, the eCommerce giant recently acquired three domain names relating to cryptocurrency; the domain names are www.amazonethereum.com, www.amazoncryptocurrency.com, www.amazoncryptocurrencies.com. The report also stated that amazon already owned www.amazonbitcoin.com. In the shortest possible time, most merchants will prefer being paid in bitcoin.


Working For Bitcoin

Those who are self-employed can get paid for a job in bitcoins. There are several websites/job boards which are dedicated to the digital currency. As the awareness of btc grew, more and more people now pay and accept it in exchange for work done or services rendered.
Gambling

It’s possible to play at casinos that cater to Bitcoin aficionados, with options like online lotteries, jackpots, spread betting and other games. Of course, the pros and cons and risks that apply to any sort of gambling and betting endeavors are in force here too.

Trading Bitcoin

BTC Trading is one of the best, easiest and profitable ways of making money in bitcoin even in Nigeria. Every now and then, you may have seen people posting on facebook and other social media websites how they make money trading bitcoins and this seems like some very guarded secret meant only for the elites. The truth is anyone with basic knowledge of the internet can actually make money buying and selling bitcoins in Nigeria. What do btc traders do? They buy bitcoin when the price is fairly low and sell when it is higher. Do you know what? because of the volatile nature of btc, you can actually buy and resell within few days and make good profit running into millions.

http://www.naijabusinesscoach.com/2017/12/how-to-make-money-from-bitcoin.html for details

Dear readers, I have written a concise straight to the point steps on how to make money trading BITCOIN here in Nigeria. I also revealed one of the trusted BTC exchanger that allows you buy and sell.
The truth is we have 3 categories of Nigerians as far as this topic is concerned:

1. Those that think it is scam
2. Those that are yet to understand how it works (people are more here)
3. And the very few already raking in Millions of Naira because they understood the concept. To them, this is secretly guarded info but I am cracking down this topic for free to enable more people understand and earn from this unique opportunity.
I earlier posted the steps on how to make money trading BTC but I later realised it was not made visible by NL (Anyways, no one builds a mansion on a borrowed land).

Go read the article here

http://www.naijabusinesscoach.com/2017/12/how-to-buy-and-sell-bitcoin-on-remitano.html?m=1