Page 28 - Provoke Magazine Vol1

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We can book a year in Faodrveaxnamcep!le, if you buy a bicycle for 3 bitcoins you would use your private key to access your holdings and send the units to seller’s pub-
By Shawn Washington
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lic key for acceptance. The transfer of units would filter through the
WEDDINGS PARTIES PRIVATE & CORPORATE EVENTS
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network. Assigned data miners verify the blockchain information to
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ensure that the shares are not counterfeit. The entire confirmation
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process could take hours or days. Once the network validates the
transaction, your seller receives the bitcoin price and delivers your bicycle.
Mention this ad and recieve 20% off of your total!
Which brings us to our important question.: Who in the hell uses bitcoin to transact business? As of September 19, 2018, reported cost of one bitcoin was well over $6,000[i]. The use of bitcoin for curren- cy remains speculative and technical. The finite number of units has a volatile effect on the price of each whole and fractional unit. So why take the risk in purchasing these shares, instead of using PayPal? The inherit anonymity makes the exchange an attractive opportunity for people to buy illicit substances on the dark web. But, we are not buying illicit substances on the dark web now, are we? Purchasers of bitcoin are looking to make money by buying low and selling the currency sometime in the future at a higher rate. There are those that believe that bitcoin will become the next single global currency, since it is outside any one country’s jurisdiction. This belief assumes a utopic illusion of people-rule economies dependent upon an elitist control of the monetary system, or maybe not.
Whatever the outcome, the value of one bitcoin is so high that it could be worth learning about why this al- ternative system is so popular.
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28 Provokeusmag.com