John Babikian Explains Bitcoin Mining Exchange Rewards John Babikian's Bitcoin news is changing the way we see money by working to expand access of financial services worldwide. Bitcoin, as a digital currency can be used for so much more than just trading and spending at stores. You can now send Bitcoins via email to process transactions or make use of hosted mining solutions (miners) that will help secure the network through proof-of-work algorithms in exchange for block rewards (newly minted bitcoin). As with any new product and hot topic, Bitcoin has quite the following. Everybody is talking about it yet many are slow to adopt even though they probably would benefit from it greatly. Read on if you're interested in learning more about what Bitcoin is, how it works, who's involved and where to go for the latest updates & news about this money making concept that can change your life for the better too! Bitcoin is the new kid on the block when it comes to online currencies, but has been growing at an astronomical rate. Due to its rapid rise in popularity and value over only a few years time, bitcoin has made its way into mainstream business. Today, John Babikian shows you how Bitcoin can be used for purchasing anything from pizza to laptops. Bitcoin is a blockchain based payment system. It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer; users can transact directly without needing an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain just like that transactions made with fiat money. Bitcoin is a digital currency which has been known for its volatile exchange rate, anonymity and payment outside the rule of government. Since November 2013, average prices per Bitcoin have risen from around $200 to more than $1,000 in January 2017. There are many people who don't even own a single coin, because they don’t know what it is or how to use it. On the other hand, there are some really rich folks who have thousands of coins. This means only one thing; lots of money is going somewhere in this game! As reported earlier on the John Babikian website, the last few weeks have proven to be quite the roller coaster ride for Bitcoin. From regulatory crackdowns in China, Denmark and Thailand, to a trillion dollar valuation on a small island off the coast of Canada (seriously), it has been difficult keeping up with all of this recent news.