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Becoming Bitcoin: Why You Need Bitcoin

Follow Us on Instagram @PrivateCoin

By Christopher A. Barnes

1

www.PrivateCoin.net

Becoming Bitcoin: Why You Need Bitcoin

By Christopher A. Barnes

SIGNS OF THE TIMES
 Bitcoin has consistently outperformed all major investment vehicles from Real
Estate to the S&P 500 and Dow Jones Industrial Average. If you would have
invested $1000.00 on January 1, 2016 in each the following assets the return on
your investments would look like this:
S&P 500=$1,194.90 (19.49% increase)
Top Mutual Funds=$1,120.00 (12.00% increase)
Dow Jones Industrial Average=$1,150.07 (15.07% increase)
Top Hedge Funds=$1,150.00 (15.00% increase)
Bitcoin=$2,428.20 (142.82% increase)

 Bitcoin has a market cap of approximately $15 billion and growing.
(http://www.coindesk.com/data/bitcoin-market-capitalization/)

 Bitcoin Automated Teller Machines are popping up at an alarming rate all over
the world. There are currently thousands of ATM’s that are operational in the
United States. In the metro Atlanta area, there are about 60-65 ATM’s available
for use. (https://coinatmradar.com/country/226/bitcoin-atm-united-states/)

 President Trump chose Bitcoin supporter as US Budget Director.
(https://www.cryptocoinsnews.com/trump-picks-a-bitcoin-supporter-for-cabinetas-u-sbudget-director/)

 The dollar continues to decline in value due to inflation, manipulation, bailouts
and other flawed systems put in place by central authorities.
(https://www.ft.com/content/0a9eb510-80b0-11e6-8e50-8ec15fb462f4)

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Becoming Bitcoin: Why You Need Bitcoin

By Christopher A. Barnes

 China users and miners control the vast majority of the Bitcoin market,
rumored to be over 80%. China is a respected superpower in politics and they
have chosen to invest heavily in Bitcoin; we can’t afford to fall too far behind.
China has already put government regulations on Bitcoin. Digital currency is
the new space race. (http://m.slashdot.org/story/313235)

 Bitcoin is accepted all over the world, the same currency with the same value no
matter where you are. Universal acceptance means more profit potential for
those properly positioned.

 No fraudulent charge backs, reversed payments, or merchant service fees for
business that accept Bitcoin.

 There have been 3 SEC filings for Bitcoin exchange traded funds, known as
ETF’s. (http://www.wsj.com/articles/the-race-is-on-for-a-bitcoin-etf-1484919815)

 Subway and many other major companies are now accepting Bitcoins as a valid
form of payment. (http://www.cnbc.com/2013/11/19/subway-franchise-owner-inpennsylvania-who-accepts-bitcoins.html)

 Visa has introduced a prepaid debit card that allows an individual to spend their
Bitcoins wherever Visa is accepted. (https://bitpay.com/card/)

Hopefully we’ve managed to grab your attention with these Bitcoin facts. You can’t afford
to be uneducated about such an impactful and beneficial concept. Keep reading to get a
well-rounded understanding of what Bitcoin is and how it can benefit you.

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Becoming Bitcoin: Why You Need Bitcoin

By Christopher A. Barnes

TABLE OF CONTENTS
Page 6 – Glossary of Terms
Page 7 - Introduction
Page 9 - Bitcoins Rise to $1,000.00
Page 10 - Major Retailers Accepting Bitcoins
Page 11 - Who Invented Bitcoin?
Page 12 - How Are Bitcoins Created?
Page 14 – Are Bitcoins Safe?
Page 16 – What Can I Do with Bitcoins?
Page 18 – Are Bitcoins Legal?
Page 20 – What Is a Bitcoin Address?
Page 21 – What Is a Bitcoin Wallet?
Page 24 – Will Bitcoin Be Around in The Future?
Page 25 – Advantages & Disadvantages of Bitcoin
Page 26 – What Is PrivateCoin?

Please visit our website and social media links. We love to hear from the community. Please If you have any questions,
suggestions, or opinions we welcome you to reach out to us!
www.PrivateCoin.net
www.BecomingBitcoin.com
www.instagram.com/PrivateCoin

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Becoming Bitcoin: Why You Need Bitcoin

By Christopher A. Barnes

GLOSSARY OF TERMS
Bitcoin (BTC) - a type of digital currency in which encryption techniques are used
to regulate the generation of units of currency and verify the transfer of funds,
operating independently of a central bank.
Fiat Money - currency that a government has declared to be legal tender, but it is
not backed by a physical commodity. The value of fiat money is derived from the
relationship between supply and demand rather than the value of the material
that the money is made of. Example: Dollar, Yen, Euro.
Digital Currency - an Internet-based form of currency or medium of exchange
distinct from physical (such as banknotes and coins) that exhibits properties like
physical currencies, but allows for instantaneous transactions and borderless
transfer-of-ownership.
Exchange - establishments that allow customers to trade digital currencies for
other assets, such as conventional fiat money, or different digital currencies like
Litecoin and Monero. Example: PrivateCoin (private brokerage), Coinbase, Paxful.
Blockchain - a digital ledger in which transactions made in bitcoin or another
cryptocurrency are recorded chronologically and publicly.
Bitcoin Mining - the process by which transactions are verified and added to the
public ledger, known as the block chain, and the means through which new
bitcoin are released. Anyone with access to the internet and suitable hardware
can participate in mining.
Bitcoin Wallet - a software program where Bitcoins are stored. To be technically
accurate, Bitcoins are not stored anywhere; there is a private key (secret number)
for every Bitcoin address that is saved in the Bitcoin wallet of the person who
owns the balance.
Bitcoin Address - an identifier of 26-35 alphanumeric characters, beginning with
the number 1 or 3, that represents a possible destination for a bitcoin payment.

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Becoming Bitcoin: Why You Need Bitcoin

By Christopher A. Barnes

INTRODUCTION
Bit oi iѕ a е ki d of apital o u е у. It еѕе lеѕ thе US Dоllа , the Eu o o thе Pеѕо,
е е t thаt it iѕ оt o t olled у a ѕi glе e tit like a e t al a k. Bit оi BTC iѕ the ost
popular digitаl u е у—with cryptographic keys—that iѕ de e t alized tо a еt о k оf
о utе ѕ used у use s a d i е ѕ а оu d thе о ld аnd iѕ оt o t olled у a si gle
o ga izatio o gо е
е t.
It iѕ the fi ѕt digital
pto u e
thаt hаѕ gаi еd the pu li 's atte tio a d iѕ а е tеd у a
g o i g u е оf e ha ts such as Overstock, Expedia and Amazon. Likе оthе u е iеѕ,
uѕе ѕ a uѕе the digital u е у tо u gооdѕ а d se i es о li е аѕ еll аѕ i ѕо е hуѕi аl
ѕtо еѕ thаt a ept it as a fо
оf ау е t. Currency speculators a аlѕо t аdе Bit оi ѕ on
Bit оi е hа gеѕ.
Rathe thа
еi g а i ulаtеd у a si gle оdу,
u е у, еа i g thаt it li es о thе o pute оf e e
i tе еt). Gi e thаt it's decentralized, o o e а о
it оi ѕ i tо i ulаtiо а d thе е is o g eed a ke
е tе оf еа h o de as the middleman.

it оi iѕ a dе е t аlizеd pee -to-peer
o e thаt o ks ith it thе ѕа е аѕ the
u t the а kеt lа е у eleasi g о е
li i g о е'ѕ о kеtѕ у sta di g i the

Thе e efits оf it оi а е that t а ѕа tiо ѕ happe аl оѕt i ѕtа tlу а d dо 't carry a
t а ѕа tiо fее u less thе person ѕtа ti g thе t a sa tio dе idеѕ to ау о е. You ѕее, si e
о оdу а i ulаtеѕ the it оi еt о k, thе е а е о utе ѕ a ou d the pla et hо help
o fi ea h t а ѕа tiо , this process is called "mining.".
The it oi еt о k g a ts it оi ѕ tо i е ѕ o asio all tо hеl аuthе ti аtе and verify all
thе t а ѕа tiо ѕ. P еѕе tlу,
it оi ѕ a e е а dеd i a fо оf lоttе у s ste a out e e
i utеѕ. Thе оg а
еhi d it oi deals ith this lоttе у а d it's о lеtеlу ope sou e ѕо
е е уо е a ѕее it.
Thе аtе that it оi ѕ а е а а dеd ill hаl е tо . i
a d thе ut i half agai е е у
уеа ѕ u til the fi аl it оi ѕ а е е а dеd i
. The , thе е ill е a tоtаl оf
illio
bitcoins in existence а d о о е ill е е e еаtеd. Bаѕеd u о thе еѕе t е hа gе аtе,
thе е a e о е $ . illio o th of it oi u e tl .
Thе ау it оi dеаlѕ о е аtе iѕ e
asi , e e o e hаѕ a it оi
аllеt that thеу utilizе tо
ѕе d а d receive fu dѕ. Thiѕ аllеt is a ѕi lе ѕt i g of lеttе ѕ а d u е ѕ, helpi g make that
allet fullу о fidе tiаl u lеѕѕ thе е ѕо hооѕеѕ to li k thе ѕеl еѕ ith it. The p i ate
еѕѕе е оf it oi dеаlѕ hаѕ led to it еi g used fo a а iеtу illi it а ti itiеѕ and this has brought
a negative connotation to a viable concept.

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Becoming Bitcoin: Why You Need Bitcoin

By Christopher A. Barnes

Whilе p ohi ited u hаѕеѕ ау hа е as they do with all currencies), there are multitudes
оf legitimate esta lish e ts, оg а ѕ а d е о о iеѕ all о е thе world that е оg izе and
accept bitcoin.

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Becoming Bitcoin: Why You Need Bitcoin

By Christopher A. Barnes

BITCOIN’S RISE TO $1,000.00

https://www.coinbase.com/charts?locale=en

https://bitcoincharts.com/charts/bitstampUSD#tgMzm1g10zm2g25zv

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Becoming Bitcoin: Why You Need Bitcoin

By Christopher A. Barnes

MAJOR RETAILERS CURRENTLY
ACCEPTING BITCOIN
TARGET (Fortune 500 Company)
CVS (Fortune 500 Company)
WORDPRESS.COM
SUBWAY (Largest Fast Food Chain in the World)
VICTORIA SECRET (L Brands Inc, parent company, Fortune 500 Company)
PAYPAL (Valuation of over $100 Billion)
EXPEDIA
NEWEGG
CHEAPAIR.COM
HOME DEPOT (Fortune 500 Company)
KMART
SEARS
APPLE APP STORE
DELL (Top 25 Largest IT Companies)
ZAPPOS
THE REPUBLICAN PARTY OF LOUISIANA
SACREMENTO KINGS NBA FRANCHISE
REEDS JEWELERS

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