From cd1ab2f94a71de0f28638570db085478852b790d Mon Sep 17 00:00:00 2001
From: Adam Soltys
Transactions between bitcoin addresses are recorded in a public file and published on - the Internet. This file is called the block chain and it keeps track of what amounts are - stored at what addresses. + the Internet. The file keeps track of the balance of every + address. New addresses start with a zero balance.
- About every 10 minutes, 50 new bitcoins are - generated and distributed proportionally to people that ++ Roughly 150 new bitcoins are + generated every hour and distributed proportionally to the addresses of people that contribute computing power to the network. The - software to participate is free and open source so anyone can run it on their computer. + software to participate is free and open source so anyone can run it on their computer to earn bitcoins.
@@ -47,8 +48,13 @@
- You can use bitcoins to securely store - and backup your savings and gain access to them + You can use bitcoins to send free, + immediate payments to your friends and family + from your phone or laptop so you can pay a co-worker + back for coffee, transfer wages to family overseas, + or donate to organizations like WikiLeaks who have + been cut off by the major payment companies. Or, use them to + backup your savings and gain access to them from anywhere that has Internet access. They tend to appreciate in value over time because of their limited supply so they make a good investment. @@ -56,19 +62,9 @@ government or issuing authority can print more of them.
- -- Bitcoins enable you to send free, - immediate payments to your friends and family - from your phone or laptop so you can pay a co-worker - back for coffee, transfer wages to family overseas, - or donate to organizations like WikiLeaks who have - been cut off by the major payment companies. -
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