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Bitcoin: The Controversial Currency

First off you may have never heard of Bitcoin. Don’t worry you wouldn’t be the only one. Lots of everyday Americans haven’t either. But for those of us in the technology space we’ve all heard of it.

Bitcoin is a peer-to-peer payment system and digital currency introduced as open source software in 2009 by pseudonymous developer Satoshi Nakamoto. It is a cryptocurrency, so-called because it uses cryptography to control the creation and transfer of money.

Simply put it removes government from money, and puts people back in control of financial transactions. There are platforms that allow you to exchange bitcoin for local currency. In my case I’ve been able to trade bitcoin for pesos at a good exchange.

I can use Bitcoin to buy giftcards to shop online at Amazon and hundreds of other sites. I can use it to buy food in restaurants.

Bitcoin is to the internet as the internet was to shopping. It’s changing everything. It’s revolutionizing the financial methods in which people do business, move around internationally, and do business across the globe.

Here’s the services I use to transact business using Bitcoin.

Where I Buy Bitcoins:
CoinBase
Bitstamp
Local Bitcoins

Where I Sell Bitcoins
Local Bitcoins
Kraken
MTGox

Where I Use Bitcoins
Gyft
Overstock.com

Where I Store My Bitcoins
Multibit
Paper Wallets

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