Did you hear of Bitcoin? E-commerce accepts online payments via Bitcoin. What are we talking about?
The “Bitcoin” is a virtual currency issued by a private decentralized network. The Bitcoin creator is the developer known under the pseudonym of “Satoshi Nakamoto” who created the algorithm for issuing the notes.
The Bitcoin circulates without the supervisory control of the monetary authorities. There is no central bank that controls the quantity emitted. The control on the Bitcoin is via the validation of the code of emission.
The mechanism on which it is based is that bitcoin encryption is a sort of public/private key, the same security base used by Internet and the same technology that allows secure on-line financial transactions. Each Bitcoin is nothing more than a sequence of numbers that cannot be reproduced and falsified.
The owner of bitcoin can transfer ownership in a digital way, the receiver can verify ownership via a digital control. “Vigilance” is then carried through the online verification of individual transactions .
There are several sites where you can buy Bitcoins. For example Bitstamp or you can buy them from other users see Localbitcoins.
The Bitcoin can be used to exchange money with other users without having to perform banking transactions. Or you can spend Bitcoin directly in stores that accept Bitcoin.
In Bitcoinstore with less than 1 Bitcoins you can buy a TV Samsumg 40″ or you can buy a 16 megapixel Fuji camera with 0,4 Bitcoins.
The Bitcoin value has increased from $11 to more than $500 today in one year.