How Bitcoin Could Improve the Internet Apr08

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How Bitcoin Could Improve the Internet

Bitcoin has grown so much already in 2013 as you can see on Google Trends. It’s actually quite scary when you see how popular it has got, especially when you take a look at the price increase of it over the last 6 months or so. To give you some sort of an idea, before Christmas you could buy a bitcoin for $10 and just today it hit an all time high of around $194 although it has taken a bit of a drop since then. Obviously this has lead to a lot of speculation that it’s a bubble, but I’ll leave you to decide whether you think it is or not!

Before I start, I’m not going to explain everything about bitcoin (that would be impossible anyway!) but if you want to learn about it I’d suggest Bitcoin.org, Reddit and these FAQs. I’ve been talking about buying some bitcoins for a good while, but last Friday (3 days ago) I decided to finally buy a few at around $139. Much more than what I could’ve paid if I bought in earlier, but I can’t really complain since it looks like I could already make a decent profit if I sold today. So, how could bitcoin improve the internet?

Bitcoin allows you to…

Easily donate online

Since this is an internet marketing blog, I’m going to guess that nearly everyone that’s reading this has used Archive.org at some point to take a look at how domains/sites were used before in the past. This is just one of the sites which now allow you to donate using bitcoin. Think about it, quality sites could start removing ads and start to rely on donations to keep the site going. This is a win-win situation really, especially since more and more people are using Adblock or becoming ad blind. As you can see from Archive.org, all you need to do to accept donations is publish your address which is long string of text.

Charge your customers less

If you provide any service online (like I do with 123Content.co.uk) you’ll more than likely know how fees can really take a good chunk of the money that you make online. If you deal with PayPal, they’ll take a decent % of the money you make, while if you deal with bank transfers it can be really expensive if your customers aren’t in the same country as you are (and since it’s the internet, they probably aren’t!). With bitcoin, there are essentially no fees. Even if you send millions of euro, pounds or dollars worth of bitcoin you’ll still be charged the same fee as someone how has sent one euro, pound or dollar worth of bitcoin. The great thing is that the fee is literally nothing, around $0.09 right now, and it’s paid by whoever is sending the bitcoin. However, you don’t have to pay this if you’re not in a rush to get your bitcoin transferred.

Receive money 24/7

One thing that sometimes can be annoying working online is waiting for money to finally enter your account when someone sends you a bank transfer. Not only this, but since banks aren’t open at weekends, bank holiday Mondays and so on this can cause a bit of hassle now and again. With bitcoin, you can send or receive money whenever you want – no waiting around!

Thank people online

Even though this point is kind of similar to the first point, I think this is one of the coolest things about bitcoin. Have you ever come across a post in a forum that really helped you out and wanted to somehow say thanks to that person? Soon that could be possible. You can already tip anyone on Reddit (that page makes it sound much more confusing than it actually is though!) by replying to their post with something like “+btctip user_name $1” to send someone $1 as a way of saying thanks. That’s how I got my first tiny bit of bitcoin actually! In the near future you may be able to do this on most forums and even Facebook!

Tell anyone your details

With bitcoin, if you want to get money sent to you the only thing that you need to give to the person sending the money is your address. There’s no need to tell the person who is sending you a payment your bank account details or even your email address like you would with PayPal. For example, if you wanted to send money to me all you’d need to do is send it to 1DDgaBcDpGyfRNoX1xAwy5rphJ9o7M5AvB.

There are probably loads more ways that bitcoin could improve the internet so if you have any ideas I’d be interested in hearing about them below in the comments