Bitcoin has a reputation in the public imagination for being an anonymous digital currency, like an internet equivalent of physical cash, but that is not entirely correct. When used normally, Bitcoin is more of a pseudonymous currency and not an anonymous one. Anybody can download a simple piece of software and install it on their computer to use Bitcoin.
Because it is a decentralized, peer-to-peer system, you do not need to register an account with any particular company or hand over any of your personal details (unless you choose to do so, for example with a web wallet provider). Once you have a wallet you can create addresses which effectively become your identity within the network. This already gives an enhanced level of privacy compared to other digital payment systems, because you can begin using the network anonymously. There is also another side to cryptocurrency exchange script, however. Because transactions must be confirmed by the network, and transaction history shared between all participants, there is a public record of all transactions which anybody can access. In fact, this is really what the ‘blockchain’ is – a shared public record of everything which happens on the Bitcoin network. Read More http://cryptorials.io/how-to-use-bitcoin-anonymously/
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Digital money or cryptocurrency may be taking a baby step on the path of official acceptance as the Swiss town of Zug is planning to allow its residents to use Bitcoin to pay for municipal services in its bid to transform itself into the digitization hub or "Crypto Valley". The town council decided on May 3 to trial Bitcoin for payments for public services, which would be the first time digital currency is being considered for official use. The trial will be applicable for payments up to 200 Swiss francs and will run from July 1 till the end of this year, when a review will be conducted.
Based on the year-end review, authorities shall decide whether Bitcoin and other cryptocurreny trading, should be retained for payments for other municipal services in future. Read More @ http://www.rttnews.com/2649052/a-bit-of-acceptance-for-bitcoin.aspx |
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