“Bitcoin surveys” or “Bitcoin survey sites” If you searched for these words or any other related words like earn “Bitcoin survey” “take surveys for Bitcoin” on google and found yourselve here, you are welcome. Here, we shall list all the Bitcoin survey sites and also what you need to know about Bitcoin. So, if you love receiving payment via Bitcoin after completing online surveys, you are in the right place.
What is Bitcoin?
Bitcoin is a type of digital currency that is created and held electronically. No one whatsoever controls it. Bitcoins are not printed, like your normal dollars or euros etc – they are produced by people, and increasingly businesses, running computers all around the globe, using software that solves mathematical problems or issues.
It is the first example of a growing category of money known as cryptocurrency.
What makes Bitcoin different from normal currencies?
With Bitcoin, you can be able to buy things electronically. In that sense, it iss like conventional dollars, Yen or Euros, which are usually also traded digitally.
But, bitcoin is most important characteristic, and the thing that makes Bitcoin different to traditional money, is that it is decentralized. No single financial or any institution controls the Bitcoin network. This puts some people at ease, because this means that a large bank can not be able to control their money.
Who created Bitcoin?
A software developer known as Satoshi Nakamoto proposed Bitcoin, which was an electronic payment system that is based on mathematical proof. The idea was just to produce a currency independent of any central authority, which can be transferable electronically, more or less instantly, with extremely low transaction fees.
Who prints it?
No Nobody. This currency is not physically printed in the shadows by a central bank, not accountable to the population, and making its own rules. Those banks can just produce more money to cover the national debt, therefore devaluing their currency……
Instead, bitcoin is created digitally, by a community of individuals that anyone can register . Bitcoins are ‘mined’, using computing power in a distributed network.
Bitcoins also processes transactions that are made with the virtual currency, effectively and efficiently making bitcoin its own payment network.
So you can’t churn out unlimited bitcoins?
That is right. The bitcoin protocol – the rules and regulations that make bitcoin work – say that only 21 million bitcoins can ever be created by miners. But, these coins can be divided into smaller parts ,the smallest divisible amount is one hundred millionth of a bitcoin and it is called a ‘Satoshi’, after the founder of bitcoin system.
What is bitcoin based on?
Normal currency has been based on gold or silver. Theoretically, you knew that if you handed over a dollar at the bank, you could get some gold back (although this did not actually work in practical). But bitcoin is not based on gold; it is based on mathematics.
Around the globe, a lot of people are using software programs that follow a mathematical formula to produce bitcoins. The mathematical formula is available freely, so that anyone can check it.
The software is as well as open source, meaning that anybody can look at it to make sure that it does what it is supposed to.
What are bitcoin characteristics?
Bitcoin has many important features that set it apart from government-backed currencies.
1. It is decentralized
The bitcoin network is not controlled by one central authority. Every single machine that mines bitcoin as well as processes transactions makes up a part of the network, and the machines work together. This means that, in theory, one central authority can nottinker with monetary policy and cause a meltdown – or just decide to take people’s bitcoins away from them, as the Central European Bank decided to doing Cyprus in early 2013. And if some part of the network goes offline for some reason, the money will keep on flowing.
2. It is easy to set up
Conventional banks make you jump through lots of hoops just to open a bank account. Setting up merchant accounts for payment is another Kafkaesque task, beset by bureaucracy. But, you can set up a bitcoin address in seconds, no questions is asked, and with no fees payable.
3. It is anonymous
Well, kind of. Users can be able to hold multiple bitcoin addresses, and they are not linked to names, addresses, or other personally identifying info. However…
4. It is completely transparent
…bitcoin stores details of each and every single transaction that ever happened in the network in a huge version of a general ledger, that is called the blockchain. The blockchain tells all.
If you happen to have a publicly used bitcoin address, anybody can tell how many bitcoins that are stored at that address. They just do not know that it is yours.
There are measures that people can be able to take to make their activities a lot more opaque on the bitcoin network, though, such as not making use of the same bitcoin addresses consistently, and not transferring a lot of bitcoin to a single address.
5. Transaction fees are miniscule
Your bank may charge you a certain fee for international transfers. Bitcoin does not.
6. It is very fast
You can be able to send money anywhere and it will arrive minutes later, as soon as the bitcoin network processes the payment.
7. It is non-repudiable
When your bitcoins are sent, there is no chance getting them back, unless the recipient returns them to you. They are gone forever.
Some survey sites are now implementing Bitcoin as a payment method. Although not so popular in survey world. However, we have been able to witness a few Bitcoin survey sites for the past months and will be revealing them here. Do you want to take surveys for Bitcoin? Or you are looking to sign up with Bitcoin survey sites?
If yes, here are list of Bitcoin survey sites:
We shall keep you updated more on Bitcoin survey sites.