Bitcoins - A new kind of money, a virtual currency at 5:47 AM

Friends of mine, also professional accountants, and I were talking about blogging and how can a blogger earn money in blogging and from using an internet when our conversation shifted to virtual currencies, which are currently used in the internet to transact online businesses.  It was my first time to hear about Bitcoins! I intially thought that Bitcoins are similar with Paypal, Payza, Liberty Reserves and other similar virtual currencies, but after a few research I realized it is not.

Paypal and other payment processors is different with Bitcoins in variety of ways, major of which is that, PayPal and other processors are just platform and it can't be use without integrating you credit cards or bank accounts while Bitcoins are the units and at the same time the platform.

This post discusses about:

• What is Bitcoin?
• Where Bitcoins come from?
• Where Bitcoins are kept?
• How to get Bitcoins?
• Where can we use Bitcoins?
• Famous articles regarding Bitcoins
• Accounting treatment for Bitcoins

What is Bitcoin?

Browsing the web, I found some interesting facts about bit coins. And what is a Bitcoin?  Watch this video for you to learn the basics of Bitcoin.

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