Bitcoin is a decentralized digital currency created and operating on the Internet only.No one controls it; the currency is issued through operation of millions of PC's all around the world using a math algorithm calculation software.This is exactly what bitcoin is about.The word “Bitcoin” in the English language has been formed by joining “bit” (minimum data unit) and “coin” (a metal coin used as money).The most widespread abbreviation of Bitcoin — BTC — is usually used in exchange trading and financial articles.This is the first and the most well-known cryptocurrency of all, a symbol and flagship of the cryptocurrency world, and a currency unit of the same name that circulates within the system.In the English language, cryptocurrency is a virtual currency protected by cryptographic methods.Cryptocurrency is, above all, a fast and reliable system of payment and cash transfers based on the most advanced technologies and independent of any government.Initially, bitcoin was only relevant for mathematicians, cryptographers and people passionate about computer and network technologies.

Bitcoin was then just a proof of the ability of electronic money to exist with no guaranteed backing.It could rather be seen as an electronic equivalent of gold — just like gold, bitcoin is hard to mine, its amount is limited, and mining it requires more and more effort over time.In the fall of 2009, BTC 1 could already be bought for 0.8 cents.It was the start of exchange trading that has seen many ups and downs, high-profile bankruptcies and successful projects.Bitcoin transactions were initially rare and infrequent.The first and most famous transaction involved buying two pizzas for BTC 10,000 — it happened in May 2010 (it equaled $ 25 at the time).Since then the exchange rate has gone over $ 1,000 and back down to $ 150, but that's another story to tell… At the early stage of Bitcoin development, it was made popular by the Japanese exchange, MtGox, and the illegal online market, Silk Road.Now, Bitcoin is independent of any exchange or pool, while illegal activities with cryptocurrencies are now dealt with by law enforcement, just like any other financial crime.

Today, Bitcoin is a modern digital currency that is ideal for payments on the Internet.More and more stores accept Bitcoin as one of payment options.Ease and convenience of bitcoin account creation attract more and more people from emerging economies to this currency.In many states of Asia and Africa, the Bitcoin network is a replacement for expensive and hard-to-access banking services.Developed countries actively use POS terminals for bitcoin payments in stores, ATM's for cryptocurrencies, hardware wallets for Bitcoin.There's been a real boom of startups that use Bitcoin.As it turns out, the block chain technology is also good for distributed storage of data on various assets, not only financial transactions.Several thousand other cryptocurrencies have been created, based on Bitcoin or from scratch.More interesting videos about Bitcoin: How does bitcoin work?Read on to learn how cryptocurrency, with Bitcoin as an example, works.What is the most important feature of Bitcoin in economic terms?

It's a digital commodity of limited supply; its algorithm is specifically designed to only allow 21 mln units max in the system, each of them also known as a bitcoin.The issue timetable is defined in the code and predefined.After the last coins have been generated, the number of units stop changing.bitcoin tinhteThe Bitcoin economy is based on a deflation model that raises fear among many economists.litecoin rate calculatorHowever, these fears have no practical basis.bitcoin oder litecoin miningIn reality, this relatively small number of coins is quite sufficient for everyday payments as 1 bitcoin is divided into 100,000,000 units, or “satoshis”, named after the system's founder.bitcoin wallet cheat

Sometimes, millibitcoin (mBTC, one thousandth) and microbitcoin (uBTC, one millionth) are also used.Bitcoin issue timetable You can also use bitcoin to buy anything online, just like you do with dollars, euros or rubles, and bitcoin is traded in the exchange market like these currencies.valore bitcoin 2010But the most important difference between bitcoin and all other forms of money is the decentralization.bitcoin cardable sitesBitcoin is beyond control of any authority in the world.Some are baffled by this fact as it means that no bank can control your money.Bitcoin started from a concept — a document published on 31 October 2008 by a mysterious person going under a nickname of Satoshi Nakamoto.Despite numerous journalistic investigations, no one knows who the real developer of bitcoin is or whether it's a person or a group of people.

On 3 January 2009, this concept was implemented in code in real life.06:45 PM GMT, 03 January 2009 is the moment the first block in the system — the so-called genesis block — was generated.This day is celebrated as the Bitcoin birthday by the community all over the world.The developer of the software who named himself Satoshi Nakamoto proposed an electronic payment system based on mathematical calculations.The idea is exchanging coin with no central authority in place, electronically, more or less instantaneously, at minimum cost.This currency is not printed by a central bank and does not follow the rules.Banks may print any amount of money to cover a state debt, thus depreciating their own currency.In contrast, bitcoins can only be issued digitally, and anyone can start producing or, as they say, mining bitcoins at any time.Bitcoin mining is performed by using computational capabilities of a computer in a distributed network.When bitcoins are transferred, the transaction is processed in the same network, thus turning bitcoin into an independent digital payment system.

Can a billion bitcoins be mined?The Bitcoin code contains a limit that set the maximum number of mined bitcoins at 21 million.However, bitcoin can be endlessly divided into smaller units — it's a digital currency after all!1 satoshi is BTC 0.00000001 (name after the system founder) What is bitcoin's backing?National currencies used to be backed by gold or silver; now they are backed by GDP.Theoretically, you could walk into any bank in your country and exchange your paper money for its gold equivalent, or vice versa.Bitcoin is not backed by anything; it's pure mathematics.Any person from anywhere on the globe may run the bitcoin mining script from their computer and feel like a central bank in miniature.The source code of the script is openly published, and anyone may see how it works.Differences between bitcoins and conventional electronic currencies.Below is a list of features that make bitcoin stand out among electronic and paper currencies: The Bitcoin network stores the entire history of transactions that have ever taken place; it's called a series of blocks or block chain.

A block chain is a public shared register that represents a basis of the entire Bitcoin network.All confirmed transactions are included in the block chain.Based on this information, bitcoin wallets may calculate your balance and verify that bitcoin owners actually spend bitcoins in new transactions.The integrity and chronological sequence of a block chain are based on secure cryptography.The block chain knows it all.Therefore, if you have a publicly used bitcoin address, anyone may see how many bitcoins you own; however, if you do not specify it's your address, no one will ever know it belongs to you.To ensure complete anonymity, one Bitcoin address is generally used for a single transaction.As a new user, you can start using bitcoin even if you don't know all technical details.As soon as you install a bitcoin wallet on your computer or mobile phone, it will generate your first bitcoin address; in the future you will be able to create as many addresses as you want.You can communicate your addresses to your friends who will be able to make payments to you or vice versa.

In reality, it's very much like e-mail, except that a bitcoin address must only be used once.A transaction is a transfer of funds between bitcoin wallets to be included in a block chain.Bitcoin wallets contain confidential information, the so-called secret code, that is used to sign transactions and provide a mathematical proof of the transaction having been approved by the wallet owner.This signature also prevents making changes to the transaction after it is submitted to the network.All transactions are broadcast to all users and confirmed by the network via mining, generally within 10 minutes.Different states have very different attitudes towards cryptocurrencies.Some clearly encourage their use — in Australia, Germany, the Netherlands, New Zealand, Singapore, some US state, various offshore countries; others impose serious constraints that could be transformed into a total ban — in Indonesia, China, Russia, Ukraine.Total bans have so far been imposed by the hot Latin Americans in Bolivia and Ecuador.

Many governments have chosen to monitor the situation with careful optimism — most countries of the European Union, Great Britain and Switzerland, the US federal government, Canada, Japan and countries of South and East Asia.Most developed countries are adapting their financial legislation to be able to regulate cryptocurrencies and are about to resolve this issue.Bitcoins are legal if used for legal purposes.If you do not commit unlawful acts, your operations with Bitcoins cannot be suspicious.The unique nature of Bitcoin does not allow the law to consider it as money.Also Bitcoin cannot be deemed as a product or service.The question of the legal regulation is still in its infancy, and governments of different countries look at each other carefully, hoping that one of them will prompt how, eventually, to treat the cryptocurrency.As a whole, in relation to Bitcoin the countries can be divided into 3 camps: Thus there is a question: can Bitcoin be prohibited or closed down?Theoretically, such conditions can be created in which it will be very difficult to use it, however, in real life it is practically impossible.

The only leverage on Bitcoin are exchange markets that convert fiat money to the cryptocurrency.In theory the government can deny banks to deal with such exchanges, but in practice there are many ways to circumvent the bun.You can “buy” Mavro by Providing Help (transferring money) to another participant: Click "Provide Help" on the dashboard in your Personal Office.If you decide to participate with Bitcoins: After successful completion of all steps above, you will see a notification that your request has been added.Click on the “Details” button to see the information about the Provide Help request In the opened window you can see the detailed information about your request.To cancel the Provide Help request click on “Cancel request” button.Your Provide Help request has been successfully deleted.You can see the deleted requests clicking on “Show archived requests” button.Here is how the request with the "Deleted” status Each order includes the following information: When you press the area of the Order (or on “Details” in the lower right corner of it) you will see: You should make every transfers on time.

In case of difficulties with a transfer, a recipient and a sender can get in touch with each other via chat (if a phone of one of the participants is not available for some reasons).After you have transferred money, you must show a recipient that the transfer was completed.He will be able to confirm receiving of your funds after you send a transfer evidence.How to send an evidence of transfer: In the appeared menu, you should attach a screenshot or photo of completed payment transaction.You can make a screenshot: — with PrtScr button (next to F12 button of your keyboard).After that an image of your screen will be sent to the clipboard.Open the program for processing images (the simplest one is Paint).Select “Paste” in the program menu or Ctrl+V.Save the image on your computer.— with a specialized software (LightShot etc.)After that Order’s icon become half green.Once your recipient confirmed the receiving of funds, the icon will become fully green.And your Mavros will become confirmed.

If the transfer has not been made timely, or you refused to do a transfer without a valuable reason, your account will be blocked automatically.You will be notified about it in Personal Office.In blocked mode the only available operation in Personal Office is contact to the Support Team.After creation of a Request for Providing Help, check your Personal Office and email daily.So you will be aware about new orders for transfer and could prevent your account blocking for any possible reason.If you can not complete an order for any circumstances, make sure to write your reason to the Support Team: If you need to provide your Bitcoin address to another user, you should first access your Bitcoin wallet and the address of your bitcoin wallet.You can click for example on the button “Receive”.You will see the window with your Bitcoin wallet address.On Bitflyer.jp click ‘Account Funding’ - “Incoming BTC” Bitflyer.jp Enter your MMM Personal Office and click on “Accounts”.

Fill in your account data and paste your Bitcoin wallet address in the respective field.Now, another participant who wants to transfer money to you will see your Bitcoin address.When creating Help request, you can click on the order, access the section “Messages” and send your Bitcoin address there as well.In order to Get Help (“sell” Mavro) click on the appropriate button ("Get Help") on the dashboard of your Personal Office.Choose one of your existing accounts and click on "Next" button.In the opened window you can see: Check your amount for withdraw and click on "Next".Created Request for Receiving Help appears on your desktop in Personal Office.If you click on active Getting Help Request, a popup window will open where you can verify details once again.In the Getting Help Request you can also see the amount of Mavro for sell.After creating your Getting Help Request you should wait for orders to be displayed on your dashboard.You will be able to see information about participant(s) who will transfer funds.

Appeared orders on your Dashboard will be of yellow color.After a sender confirmed that funds had been transferred, make sure to check your account.You should confirm a receipt of funds only when you see them in your account.When a sender confirmed sending funds but you did nothing with an order, after some time the order’s icon will become yellow with a question mark.When you click on this icon there will be two options: If the funds are not received, after an investigation of Security Department this icon will become red with a cross.It means that the order wasn’t completed.Such icon will appear if a sender didn’t confirm timely that the funds were sent.In case of described situations the dispatcher will create another order for you with another participant to send his help to you.Confirm orders only after making sure that the funds were received on your bank account or bitcoin wallet!If funds are received and you confirmed receipt of funds, then this icon will turn green.It means that help has been successfully provided!

Keep in mind that you can extend the period of payment for 24 hours, if necessary.If a sender is not able to meet a standard requirement for 48 hours, you can give him additional time to complete this order.In order to do that: Always report to the Support Team if you notice any unusual activity.FAQ: How to get in touch with the Support Team?Variant 1: look at an order status in your Personal Office.After a participant receives funds, he will confirm the transaction.Variant 2: Bitcoin transactions will appear almost immediately in your transaction history.As soon as the transaction is completed, you will see “Unconfirmed transaction” in your transaction history, which means your transaction has not been confirmed yet.Although Bitcoins were sent, your transaction has not yet been processed and can be cancelled.Your transaction is considered completed when it has got 3 confirmations.It usually takes about 30 minutes, but the period length may change.Your transaction, till then, will have been displayed as pending (Unconfirmed transaction).

30 minutes is the average time to get confirmation.Generally, getting confirmed may take more or less than half an hour.Confirmation is a form of reaching agreement about who and how many Bitcoins possesses.As soon as confirmation is available, everyone agrees that you fully own now the Bitcoins you received, and they are at your disposal.Until the moment your transaction gets confirmed, some network hosts check if the system is not deceived in any way.The more confirmations you receive the less the chance of its cancellation.Only 6 confirmations or 1 hour (if based on time) will suffice to make the transaction cancellation almost impossible.It is considerably better than using credit cards where the return of funds can be carried out even 3 months after the transfer!How to check your transactions?Go to your bitcoin wallet.It can be on Bitflyer or Blockchain (or other).On Localbitcoins click “Wallet” in the upper right corner, scroll down and you’ll see the list of transactions.On Blockchain.info and others click on “Transactions”.

On bitflyer go to “buy/sell” section and scroll down.On blockchain.info choose the transaction and click If the transaction is not confirmed, there will be written “Pending: 0/3 confirmations”.If the transaction is confirmed, you will see “Transaction Confirmed”.As soon as the transaction is confirmed, you can use the Bitcoins you received at your discretion.Bitcoin system’s transactions are conducted between wallets which have digital signature.Each online transaction is public, and every participant may not only view its sender’s and recipient’s data in a public block chain, but also to trace the whole history of transactions, which were made prior to it - down to the inception of the first cryptocurrency.In order to understand what a transaction is, have a look at the example below.Ichiro sends Mariko some Bitcoins.This activity is a transaction itself which will contain three types of data: To send anyone Bitcoins, you need two things: a Bitcoin address and a privacy key.

The privacy key is a sequence of letters and digits, but unlike your Bitcoin address it is kept secret.Your Bitcoin address is like a transparent deposit box.Anyone can look inside, see what there is, however, only that can open and take the content who has a privacy key.Getting back to Ichiro and Mariko, when Ichiro wants to send some digital coins to Mariko, then, using the privacy key, he signs a transfer “request” where, as indicated above, three types of data are provided: the Bitcoin address, from which Bitcoins came to Ichiro, the amount and recipient’s address.After that, he sends this “request” from his Bitcoin wallet to the Bitcoin network, where it is found by miners who then confirm a new online transaction by adding it into the transaction block, which, eventually, leads to increasing the balance of Mariko’s Bitcoin address.Go to the BitFlyer.jp site 2.Choose how to sign up If we choose Facebook we will see the warning.There press “Log in as [your_username]”.

After signing in, agree with the rules.And one more time agree with the rules 5.In order to verify your identity, click the "Personal information".Enter the personal info in the required fields: Then you can proceed to filling in the bank details: 8.Enter the bank details: To buy bitcoins you need to add funds to Bitflyer account.You can do this with the help of online banking or ATM.After this you need to verify your identity: scan or photo your passport and add to the corresponding fields, as stated in the instruction.Verification usually takes a day or two.Now you can proceed to buying bitcoins: enter your bitcoin identificator.Here you can see the bank details.You need to send money from your bank account to that account.Press “Home” and you will see your assets.If you have upgraded your account to Business level you can buy bitcoins directly from your credit card.To upgrade account click “Upgrade your account class”.You will need to provide your bank account info.

After you upgraded your account you can buy bitcoins clicking on “Buy with credit card” tab.If you do not want to upgrade you account to Business Class then after adding funds to the bitflyer account through bank wire.Proceed to the section of buying/selling bitcoins: In the field “Amount (BTC)” state the amount of BTC you want to buy and press “Buy coins”.Now on the screen you can see your BTC and JPY balance.It means you have bought bitcoins successfully.You can add funds this with the help of online banking or ATM.Sign in to your Bitflyer account at https://bitflyer.jp Go to “Account funding” tab Here is your bitcoin wallet address: Go to the section “Buy/sell bitcoins”.Enter the amount of Bitcoins you want to sell.Near you’ll see the corresponding amount of JPY.Here you can see the amount of JPY that you have received from selling bitcoins.After you create a Request to Provide Help, you should wait for the Order (transfer instruction).Here's how the Order will look like in PO: To see the instructions, click on the Order.

In the opened window you will see: Copy the bitcoin address of the recepient.Then Sign in to your Bitflyer account at http://bitflyer.jp You need to add bitcoin address of the receiver: Your bitcoins has been sent.Go to “Account Funding” section.You can withdraw JPY if you have upgraded your account to Business class adding your bank account.To do it go to the home page and press” Upgrade your Account class”.After you upgrade you’ll be able to withdraw bitcoins to your bank account.Then tick the boxes to enable 2-factor authentication.In the list below choose the method to receive confirmation code.If you choose “text message” you should add your phone to the account.If you choose Authentication app If you choose to receive code by Email If you choose to receive code by sms, you need to add your phone first.Reload the page and go again to the “Security” tab.If you forgot your password from bitflyer account, in the sign in from at http://bitflyer.jp press “Lost your password”.

Enter your email and press “Request bitFlyer to change your password.” You’ll receive an email, open it and click on the link.Enter and re-enter new password.And in the sign-in form enter your email and new password 1.What are the advantages of providing help with Bitcoins?Security Speed Safety Payment tracks and verification Low fees 2.Why does the MMM system advocate Bitcoin?What determines Bitcoin's price?What is a Bitcoin address?Does it matter on which site was a Bitcoin wallet created?Is it be possible to perform transactions among all Bitcoin wallets created on any of suggested services?I have two Bitcoin addresses, can they both be added to the MMM PO?Does it matter what to specify in the “account name” of the system?What should I do: first buy Bitcoins and then offer help or wait until a PH order comes and buy Bitcoins after that?How long have Bitcoin orders been created compared to JPY orders?How much does it cost to pay with Bitcoin?

Why is there JPY shown upon providing help with Bitcoin?How soon will I be able to get money when I am selling Bitcoins?I want to work at the Bitcoin service.Tell me what and where should I send.We are still looking for the new Bitcoin consultants who would help the participants to solve problems, answer their questions and gave detailed recommendations concerning Bitcoin.Requirements to candidates: Perfect knowledge in the Bitcoin cryptocurrency field.You should know how to get/provide help in MMM, add an account into the PO, create a Bitcoin wallet, exchange the cryptocurrency for traditional money, and so on.Fluent English and Japanese.Responsibility and interpersonal skills.To apply please contact your Guider 15.Are there bonuses for the first request in Bitcoins?Is it possible to use a Bitcoin account only to withdraw Bitcoins?How many digits should be there after the decimal/ full stop in Bitcoin transactions?If I participate in the system using Bitcoins, are Leader Bonuses and Old Mavro calculated in JPY or bitcoins?

Do I need to register another MMM account to participate using Bitcoins?Why does it take so long to get my Bitcoin transaction confirmed?Can I use different bitcoin addresses to provide and get help?May I specify one Bitcoin address in different MMM accounts?How to make a screenshot with Lightshot?Follow the link (http://prnt.sc) and download the LightShot application.Install it on your PC.After installation the Lightshot icon (a feather) will appear in the lower right corner of the screen.Click on the icon with the left mouse button OR press Prntscr at the keyboard.Choose necessary area of the screen.A. If you need to quickly send screenshot via skype or another messenger: ).What Bitcoin trading platform do you recommend?You can choose any Bitcoin platform you like, but we recommend you to use Bitflyer () ) 25.Can I register with Zaif if I have already signed up for Bitflyer?What does “buy” and “sell” Bitcoin mean?It is compulsory to use Bitcoin in MMM, isn’t it?

How to check my Bitcoin wallet balance?What to do if the sender didn’t pay a Bitcoin-order?Can I buy Bitcoins with a credit card?How many Bitcoin wallets can be registered on one mobile number?After registering Bitcoin wallet we continue to work in the MMM PO, don’t we?What is the minimum and maximum PH amount in Bitcoins?Can first and last names specified when registering a Bitcoin account be different from those in the MMM account?Is it permitted to make payments on several MMM accounts from one Bitcoin wallet?How to deal with a problem of sudden changes in Bitcoin price?I have provided help with Bitcoins, how soon can I create a GH request?Can I use the other site for creating a wallet and participating in MMM?Why Bitcoin orders do not allow to contact the other party?Can I operate Bitcoin via mobile phone?How to check if a transaction was successful?Confirmation is a form of reaching agreement about who and how many Bitcoins possesses.As soon as confirmation is available, everyone agrees that you fully own now the Bitcoins you received, and they are at your disposal.