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.
Before you Register to MMM, you need to have BITCOIN Address Account.
Bakit kailangan magkaron ka ng Bitcoin Account?
Ans: Ito ang ginagamit sa transaction mula sa pag PROVIDE mo ng HELP at sa pag ASK mo ng HELP sa lahat ng members ng MMM. Ito ay widely accepted sa buong mundo at pinakamabilis na paraan para maiparating mo ang tulong sa lahat ng members ng over 107 countries na nag paparticipate sa "Global Community of Financial Aid and Donation Exchange".
Get to know more about bitcoin. Watch this short video.
How does it works?
Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once.
In traditional fiat money systems, governments simply print more money when they need to. But in bitcoin, money isn’t printed at all – it is discovered. Computers around the world ‘mine’ for coins by competing with each other.
People are sending bitcoins to each other over the bitcoin network all the time, but unless someone keeps a record of all these transactions, no-one would be able to keep track of who had paid what. The bitcoin network deals with this by collecting all of the transactions made during a set period into a list, called a block. It’s the miners’ job to confirm those transactions, and write them into a general ledger.
How to send/receive Bitcoin?
In order for you to get, earn, or receive Bitcoins, you must have a Bitcoin wallet. A bitcoin wallet is website or program which you can use to hold or store bitcoins and make transactions. In my case I use coins.ph and coinbase.com. You can register for free; there are also rewards/bonuses upon signup and verification of your account. In both of these wallets, there is a send address and a receive address, so that you can send or receive bitcoins.
How can I get or earn bitcoins? How can I exchange bitcoins to my local currency?
You can buy/sell bitcoins in some local exchanges, I use coins.ph for buying/selling bitcoins. For Philippine Residents, you can use it as your wallet and withdraw directly to your bank account or other types of money transfers in the Philippines. But some people use the Local Bitcoins.
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