Bitcoin is an innovative payment network and a new kind of money. Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. It’s the first example of a growing category of money known as cryptocurrency. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
Bitcoin Business and Services in Asia
How to accept Bitcoin, for small businesses (and SMEs). This information is intended for small business owners who wish to help promote Bitcoin by accepting it as payment for goods and services. It’s written with the assumption that you operate a regular business that sells goods or services for regular national currency such as dollars, and that you wish to accept Bitcoin as another legal way to pay, and that you intend to pay taxes on your Bitcoin income just like any other income. With Bitcoin being touted as a way to conduct anonymous transactions and as way to compete with government currency, many small business owners wonder what’s the right way to accept and account Bitcoin, or if it’s legal or ethical, or whether and how they should pay taxes on income received through Bitcoin. As far as we know, Bitcoin isn’t yet formally recognized by governments and authorities as a “currency”. But in practice, Bitcoin is likely no different than accepting payment in other forms, such as cash, or gold, or scrip, or gift cards or foreign currency.
Learn about Bitcoin (1). This short animated video is an introduction to Bitcoin made possible with donations of time and money from the Bitcoin community. And read Bitcoin Potential in ASEAN Economic Community (AEC) for more bitcoin and blockchain information about ten nations in South East Asia.
What is Bitcoin (2). The most watched Bitcoin introduction video ever. This updated video explains how bitcoin works and the importance of this paradigm shifting technology. Please also visit Asia Bitcoin Opportunities and Potential for more bitcoin updates from major Asian countries like China, India, Japan and South Korea..