Bitcoin – The Paypal Alternative

Anyone heard of this service? Its called bitcoin and its insanely brilliant idea. Its called a cryptocurrency and its completely anonymous (for the most part), completely free. It operates on a decentralized peer to peer network. Before I explain anything further (as the system is INSANELY complex), watch the video:

And here is the complex explanation of how it works:

This is HUGE and it works great! If you sell digital products online or sell anything online then you have to accept this currency. You can easily convert it online to cash if you wish, or you can respend it on other goods/services that accept it.

But once again the major point of this currency is that it is COMPLETELY FREE. No processing fees, no hidden fees, nothing!

The system is so anonymous that people are even using it buy and sell illegal products (ie. drugs). However, the system is IMPOSSIBLE to shutdown since its decentralized like torrents and we’ve all seen how successful the government has been at shutting down torrents.