Service Providers Who Accept Bitcoin: How Do I Spend My Coin?

People who partake in performing BitCoin computations (mining) are rewarded with BitCoins. So how does this event affect people who mine BitCoins? The reward for mining BitCoins will be effectively cut in half. So if each miner is rewarded with 25 Bitcoins for solving a block, after the halving event, he will be rewarded with 12.5 BitCoins per block.

Bitcoins have actually gotten a rather nasty rap lately after experiencing a sudden 45 % decrease in just a few days, creating the market to temporarily halt trading.

There are ways of increasing the security of your online wallet such as enabling two-factor authentication (available on all reputable online wallets), where you can enter your password and then receive a text message on your mobile phone with a second code.

Bitcoin is expanding rapidly as an acceptable form of payment and there are a lot of reasons that is the case. Frustrated with the fiat system and the national tendency to overspend and to print currency as an answer to financial woes, people are turning to a means of exchange that does not lose its value through printing and is not in direct control of any one country.

This is a new concept and a new idea and adoption is not always easy. Getting people to use a new method of payment requires change and the associated pain that goes along with it. But sometimes revolution requires pain and sacrifice. But that is what many are choosing because they are sick and tired of the status quo.