The Merchant Pioneers in Bitcoin

2013 seems to be a good and favorable year for Bitcoin. This crypto-currency creates an impact and even trend among economists, savvy-tech, government institutions, and even normal people around the globe. Although not 100 % of us have a full knowledge about it, still some tried to get involved in it or even care to research what is this virtual money all about.

Bitcoin is a peer-to-peer payment network and digital currency based on an open source protocol [disputed – discuss], which makes use of a public transaction log. Bitcoin was introduced in 2009 by pseudonymous developer Satoshi Nakamoto. It is called a cryptocurrency as it uses public-key cryptography. When paying with bitcoin, there will be no exchange of digital notes or tokens between buyer and seller. Instead, the buyer requests an update to a public transaction log, the blockchain. This master list of all transactions shows who owns what bitcoins currently and in the past and is maintained by a decentralized network that verifies and timestamps payments. The operators of this network, known as “miners”, are rewarded with transaction fees and newly minted bitcoins. (From: wikepedia) A quick review what is Bitcoin.

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When bitcoin was boomed this year, (2013) there’s lot of enthusiasts, businessmen, merchants and enterprises who embrace this currency as they believe that this would be the solution to prevent money laundering. Good thing is, no central authority or government manipulated this money and even offer faster transaction and small cost of fee when sending and receiving. When it comes to merchants, there are some pioneers in this bitcoin world business. Here are some top merchant pioneers in bitcoin.

  1. Subway
  2. Virgin Galactic
  3.  Ride through Africa
  4. Life on Bitcoin
  5. Sean’s Outpost
  6. Overstock.com
  7. Honorable Musical Mentions (Snoop Dogg & Mel B.)

These are just some of the pioneers in bitcoin. 2013 is a good start and good timing. Looking forward and positive to 2014 where as many will embrace this virtual currency.

More news here.

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