Wednesday, 25 January 2017

TBC - INTRODUCTION TO THE BILLION COIN




TBC - THE BILLION COIN  








THE BILLION COIN (TBC)

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The Billion what? What is the Billion Coin?

To properly explain the Billion Coin (TBC), we have to first explain the terms crytocurrency and Bitcoin. According to https://en.wikipedia.org/ ,  
 a cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies  are a subset of alternative currencies, or specifically of digital currencies.

In 2009, shortly after the collapse of Lehman Brothers and while debates were ongoing around the world on how to save the global banking system from total collapse, the first cryptocurrency, Bitcoin was introduced on the internet. Bitcoin has a number of advantages over paper currencies. First of all the Bitcoin economy is not debt based; they are transferred directly person to person without going through any bank; therefore the transaction fees are very low; you can use them in every country, so Bitcoin is truly global; the account cannot be censored, ceased or frozen; there are no arbitrary limits on the account; Bitcoin transactions are extremely fast. Bitcoin is highly divisible – the minimum unit is one over 100 Million; that is 0.00 000 001 unit!

The Bitcoin economy has created a lot of millionaires! How so? A well know case was reported by The Guardian  (https://www.theguardian.com/technology/2015/dec/09/bitcoin-forgotten-currency-norway-oslo-home). Quote “The meteoric rise in bitcoin has meant that within the space of four years, one Norwegian man’s $27 investment turned into a forgotten $886,000 windfall.