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    Bitcoins: What they are and how to use them
    Bitcoins: What they are and how to use them
    Bitcoins: What they are and how to use them
    Ebook56 pages39 minutes

    Bitcoins: What they are and how to use them

    By David Mint

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    About this ebook

    What is a Bitcoin? Why is it important? Knowing the answers to these two simple questions may determine the fortunes of an entire generation. In this brief volume, we dedicate the first section to a brief exploration of the phenomenon of the Bitcoin and its advantages and disadvantages as a medium of exchange and store of value. We also briefly explore the moral implications of chasing the monetary premium that the Bitcoin has increasingly come to represent.
    Having arrived at the conclusion that the Bitcoin has a place in conducting trade, we dedicate the second section to what we call a roadmap to Bitcoin acceptance in which we guide the user to the online tools necessary to begin to conduct business in Bitcoins.
    This guide is as practical as it is non-technical. For technical explanations of what the Bitcoin is, we recommend briefly reading the current Wikipedia entry on Bitcoins. However, technical explanations alone cannot adequately describe Bitcoin's usefulness in conducting trade. For there is one reason and one reason only that the Bitcoin, which is nothing more than a series of hash tags, mere zeros and ones encrypted and stored on digital media, has soared in value in recent weeks against the world's national currencies.

    LanguageEnglish
    PublisherDavid Mint
    Release dateApr 9, 2013
    ISBN9781301571345
    Bitcoins: What they are and how to use them
    Author

    David Mint

    David is happily married with two children and lives in Portland, Oregon where he has pondered monetary theory and other less pressing but infinitely more entertaining matters since 2006. He has travelled extensively in the United States and has resided in Nebraska, Colorado, Spain, and Bolivia. He has a Bachelors degree in Business Administration from Colorado State University and an MBA from the Universitat de Barcelona, Spain with over 18 years of experience in Accounting, Finance, Treasury, and Information Systems Consulting positions both in the United States and Spain. He is the creator of The Mint, which presents fresh ideas on Economics, Monetary Theory, and Politics. You can read The Mint at http://www.davidmint.com and you may contact him at davidminteconomics@gmail.com.

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      Book preview

      Bitcoins - David Mint

      Bitcoins: What they are and how to use them

      A Beginner’s Guide to adopting the Gold Standard in Digital Currencies

      A Brief Primer on Digital Currency and how to make use of it

      By David Mint

      Published by The Wilcox Trading Company

      Copyright 2013 The Wilcox Trading Company

      Portland, Oregon

      Smashwords edition: April 2013

      ISBN:

      This eBook is licensed for your personal enjoyment only. This eBook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the work of this author.

      Cover design by David Mint at WDesign

      Adaptation of a Bitcoin logo created by Satoshi Nakamoto, the pseudonym for the originator(s) of the Bitcoin genesis block.

      Table of Contents

      Bitcoins: An Introduction

      The EU's Gift to Satoshi

      SECTION I - WHAT ARE BITCOINS?

      Are Bitcoins Money? The concept of digital currency and the desperate need for a Free Money supply

      Are Bitcoins Money?

      The Difficulty of Bitcoin Denominated Debt

      Mining: The Bitcoin Validation Process

      Competing Digital Currencies: Bitcoin's Achilles Heel

      The People's Money Supply

      Silver for Bitcoins, a trade for Digital Sound Money

      SECTION II: How to get Started Accepting and Trading Bitcoins

      Step 1 - Establish a Bitcoin wallet

      Step 2: Employing the Bitcoin address

      Step 3: Integrate the ability to accept Bitcoins in your online shopping cart

      Step 4 (Optional): Purchase Bitcoins

      Step 5 (Optional): Sell Bitcoins

      Step 6 (Optional): Create an account with a larger Bitcoin exchange

      Step 7: Bitcoin Acceptance for Ebay, Amazon, and other third party selling platforms

      Conclusion

      APPENDIX A: Understanding the Current Bitcoin Crazy Train and one's reaction to it: A test of character

      About the Author

      Bitcoins: An introduction

      What is a Bitcoin? Why is it important? Knowing the answers to these two simple questions may determine the fortunes of an entire generation. In this brief volume, we dedicate the first section to a brief exploration of the phenomenon of the Bitcoin and its advantages and disadvantages as a medium of exchange and store of value. We also briefly explore the moral implications of chasing the monetary premium that the Bitcoin has increasingly come to represent.

      Having arrived at the conclusion that the Bitcoin has a place in conducting trade, we dedicate the second section to what we call a roadmap to Bitcoin acceptance in which we guide the user to the online tools necessary to begin to conduct business in Bitcoins.

      This guide is as practical as it is non-technical. For technical explanations

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