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Bitcoin Classification around the World – Is It A Commodity or A Currency?

Dec 26, 2017 Admin Currencies

What is Bitcoin?

Bitcoin is a cryptocurrency, a form of currency used digitally to execute transactions by people and businesses all over the world. Bitcoin is not paper money like dollars, pounds, euro or yen. They are devoid of regulation as there is no centralized body to enforce regulations – there are no government authorities like the central banks to control the availability of money in the global market.

Bitcoin was invented by Satoshi Nakamoto (his identity is yet to be known) and was published in 2008. Bitcoin can be gotten online by using a set of computing rules to generate this cryptocurrency known as mining.

Bitcoin as a commodity

There has been a debate hovering over Bitcoin regarding whether it is a commodity or a currency. The head of South Korea’s central bank has made a claim that Bitcoin is a commodity and not a currency. Bitcoin as a currency has not been recognized despite its increasingly wide adoption for performing online transactions.

It is widely believed...

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How to get free Bitcoins?

Dec 26, 2017 Admin Currencies

There are various ways and options for one to get free Bitcoins. Games such as the Blockchain game on Google’s Play Store offer free bitcoins on signing up and furnishing one's email address. Payments in bitcoins are done once a week. But these free games also advertise a lot. Android device owners can find the Bitcoin Popper an interesting way to earn bitcoins. Bitcoin Aliens is known to offer bitcoins too. 
 
Many dice based games also offer free bitcoins. Examples of such sites are 999Dice and PrimeDice. Apart from such free games sites which offer free bitcoins or fractions of bitcoins for playing the games, there are many other bitcoin faucets, such as Bitcoin Zebra, Moon Bitcoin, and Free Bitcoin, from which people can get free bitcoins.
 
The idea behind free bitcoin is that the user does not have to invest any money, nor do any tasks other than playing the game or doing some activity as desired by the sites. In return he or she becomes entitled to a specified amount of bitcoin...



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