Bitcoin Update

Bitcoin Update

Bitcoin Update

The Latest Bitcoin Update and Why It Matters for your Privacy

Bitcoin Update

Bitcoin Update

Bitcoin has been exploding as of late. For those who are concerned with getting web hosting and other services without needing to disclose who they are, this news about Bitcoin should be relevant and promising.

Just What Is Bitcoin?

Bitcoin is what’s known as a cryptocurrency, which means essentially that is’ a means of sending money from one party to another online using a secure and largely anonymous process. One way of describing this process is a block chain. Basically, all transactions on Bitcoin are done publically and using mathematical equations.

This helps to make Bitcoin more private, especially with the additional encrypted used on it. There’s some debate on exactly what level Bitcoin provides, with many sources, such as the Bitcoin site itself, saying that cash is always going to be more anonymous.

Bitcoin News

The big news about Bitcoin in recent days is that the value of it is going up and up. One of the reasons why this is particularly relevant to those seeking privacy and security online is because there has been some concern in the past about the stability of Bitcoin. People have proclaimed the ultimate destruction of the cryptocurrency, and cryptocurrencies in general, for some time.

Recently, there was a spike in Bitcoin value, showing that the cryptocurrency still has life in it. It does look like there’s some correction needed in the market, of course, since there have been major dips after the spike as well. Just as an example, there was a week when the currency went all the way up to $2800 at its height, where it was trading as $200 per coin in 2013. There’s no doubt that there are some risks inherent in the currency as it moves up and down in a way that is unpredictable, but there’s also a lot of potential there as well.

Why Bitcoin Matters in General

There are a number of situations online where you would prefer a higher level of security and anonymity than you would get otherwise. For example, if you wanted to seek out hosting services from a company such as OrangeWebsite, you might be concerned that this money transaction can be traced back to you.

However, with the independent nature of Bitcoin, you can gain a level of privacy that many other electronic forms of transfer don’t provide. For example, credit cards require you to list your name and address so tracking you is easy. Bitcoin doesn’t require this. Once you fund a wallet, this wallet is accessible to anyone who has the mathematical key to it.

This means you definitely need to remember your key, and you definitely need to keep it to yourself, but it also means that it won’t be trivial to find you the way it is with credit cards.

Bitcoin Update

How the Bitcoin Update Affects Your Finances and Privacy

All this is to say that Bitcoin appears to be here to stay, despite its occasional instability. It also means that for some, it could represent a multi-purpose tool. For example, those who want to invest in Bitcoins can use some of this investment in order to pay for things privately and securely in a way that’s more independent and harder to track. In other words, you can accomplish multiple goals by working with just one thing, namely Bitcoins.

Plus, you’d be surprised how useful this is since there are more places where Bitcoins can bail you out then it might seem like initially. For example, some countries have bans on certain types of products and services. This isn’t to say that the product or service is illegal, just that traditional ways of paying for these services may be just about impossible to pay for because all the major credit card companies cave to pressure from governments or other institutions to not allow people from their country to use these common credit cards to pay.

This includes products like medication that has been reviewed as being OK by most countries in the world but banned by a few, for example. It can also include various kinds of services like Virtual Private Networks for privacy. Bitcoin can make paying for these products or services possible logistically when it wouldn’t have been otherwise.

But this isn’t necessarily limited just to items that are controversial. When you rely on credit cards and banks, they are often directly beholden to government control. As long as you are in a country that doesn’t try to limit what you want to do, this is obviously a new problem. But some countries may restrict your Internet freedom.

They may prevent you from getting hosting from the companies you want to use, whether this is Orangewebsite or any other for no other reason than the company isn’t approved by your country of origin or any number of other unfair reasons.

So, the news of Bitcoin having the occasional surge and continuing to survive despite all naysayers that predict its doom over and over indicates that there may be enough faith in Bitcoin that more and more websites will start taking it as a form of payment.

This is good news if you don’t wish to announce your choice for hosting, VPN, medication, or anything else that any number of credit agencies, governments, or anyone else that might be spying on you online.

For more information about Bitcoin Updates and using Bitcoin to pay for hosting, please don’t hesitate to contact us today.