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Discussion in 'Bonds' started by meiwen, Jan 9, 2020.
want to let money make money. but not too much money. what should to try for a newbie?
And You Can Become The Next Millionaire…
No sage investments there.
Set to make its debut in January 2002, the digital currency could earn users up to three times their initial investment. The blockchain, a technology that stores every transaction made on the site, runs a transaction every ten minutes. Anyone with enough money can buy the virtual currency, called Bitcoin, through the service. "The network utilizes the principle of dumb pipes: its merchants are small-time retailers who buy Bitcoin in bulk at a single time," notes the company. This means that, unlike credit and debit cards, it's not possible to spend Bitcoins in a hurry. "Staying above $20 is literally a matter of shopping and waiting five minutes," reads the site, adding that an average transaction takes five to ten minutes. Companies can also set up a bank account and link to a keychain account, which will use one Bitcoin for every purchase in the system. Of the keychain accounts, a trade licence for the Bitcoin and a certificate of ownership is needed to obtain your own bank account. The trade licence costs $10 and is used to hold a specific amount of Bitcoins in circulation, a certificate of ownership costs $30 and is used to keep an official record of a transaction made. Bitcoin transactions can be made through PayPal, Google Checkout, Google Wallet and others, with Apple set to introduce iCash. Initial investment for the system was raised in August 2002 when the founders sold 50,000 Bitcoins in the US through their website, created not long after a conference in Vancouver, Canada, in 2002, that forecast the death of traditional currencies and adoption of the decentralised digital economy. The company estimates there are 1.6m Bitcoins in circulation, with about 7,000 new Bitcoins added to the system every day. To raise more money for the venture, the digital currency could make its debut in January 2002, before new restrictions on transactions on the trading site. "The site is currently closed to new people who want to buy into the project. The current system is highly secure due to the large number of fenced nodes [small computing nodes that represent a "node" on the Bitcoin system], but it is currently running low on capacity. Also, while some of the nodes are capable of processing transactions at rates of over 25,000 transactions per second, others are not," reads the website. "Since we cannot guarantee that all nodes will run smoothly in the future, anyone wanting to buy Bitcoins on our website will need to provide the support needed to take advantage of the power that this system offers. "For example, our current system cannot use newly minted coins (EMV-based or otherwise), but we are planning to use coins minted in future." According to the firm, the creators of the currency aim to have a million users on its servers by Christmas, which would have meant revenue of up to $1.3m (£823,500) a month based on 80 transactions made per day. "We're looking to establish a global foundation for the Bitcoin system which will see active support provided by multiple, decentralised nodes across the globe. We also expect to establish strong ties with many of the top Bitcoin software solutions (PPC, VTC, etc.) around the world. We hope to be able to announce any of these partnerships in the near future," wrote the founders.