BITCOIN (part1) Intro to peer-to-peer

February 25, 2017

The purpose of this article is to announce the integration of Bitcoin as our new payment solution. Some of you have already heard of the cryptocurrency Bitcoin, while others may have no clue that such a thing exists. For the first group I commend you on being at the cutting edge of this financial technology, and for those of you in the second group I want to encourage and help you get involved with this futuristic money. 

This blog will be divided into into several parts, so those of you who are new to this amazing technology will not be overwhelmed with to much at once. We will aim to familiarize ourselves with Bitcoin, and its benefits. Then we will go into how to buy, store, and use this digital currency.

Bitcoin is a cryptocurrency and payment system that is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a publicly distributed ledger called the blockchain, which uses bitcoin as its unit of account. Since the system works without a central repository or single administrator, the U.S. Treasury categorizes bitcoin as a decentralized virtual currency. Bitcoin is considered the worlds first decentralized digital cryptocurrency, and is the largest of its kind in terms of total market value. 

The Kratom industry as a whole has been plagued by credit card processors closing the  merchant accounts of people selling Kratom online. We feel this is an unfair practice, and it has motivated us to seek out a payment solution for our customers that would be safe, fast, and unaffected by a corrupt banking system that has been taking advantage of us all for far to long. The answer is Bitcoin. This solution gives us the opportunity to remove the third party, and continue to conduct business uninterrupted peer-to-peer. The way it should be!

This is an amazing technology that may seem a little exotic, and maybe confusing at first but I assure you it will not take long to catch on to how this all works, and learning to use Bitcoin is allot of fun. I will lay things out for you in a very easy to understand process that will help you get setup and using Bitcoin very quickly. Thank you for reading this article and please move onto part2 of this series.

 




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