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4 Potential Benefits of a Bitcoin Currency

4 Potential Benefits of a Bitcoin Currency

Current understanding and use of Bitcoin as a currency is not straightforward. More importantly, despite little awareness regarding Bitcoin in the public, the currency has registered exponential growth within half a decade.[1] Its progressive development and potential advantages as a global currency has outdone any other national currency in history. This explains why in conventional use, Bitcoin is a virtue goldmine. Bitcoins present an extremely rewarding, profitable, and reliable investment, both in terms of income generation and in reducing operational expenditure.

This article acknowledges that the technical details of Bitcoin technology may be irrelevant from the perspective of investors and or businesspersons. The brief discussion excludes the focus on the crypto-currency model, the cryptography mathematical model, the use of block-chain technologies, which may not be as important as the realization of the potential benefits of a Bitcoin wallet. As such, the article seeks to exclusively review the realistic user-based advantages of using Bitcoin as a currency. Before listing the potential advantages, however, it is important to provide a succinct history of the currency.

Above the technical profile, the question of how one may benefit from using the Bitcoin currency remains. In other words, why should you invest in the Bitcoin currency? Here are four reasons that define Bitcoin as a currency of tomorrow, and its relevance in a globalized future:

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1. Absence of a Central Authority and Jurisdictional Regulation

Transactions in Bitcoin are based on a consensus network where peers send and receive a purely digital currency. There is not a nation, agency, or individual who owns and controls the Bitcoin currency. This means that unlike contemporary national currencies, Bitcoin is a payment system empowered and defined by its users, and thus it lacks a central authority in charge of its circulation. Further, Bitcoin transactions do not require or facilitate intermediaries/middlemen, such as banks, in the contemporary financial world.

The absence of any central authority thus gives total and absolute control to Bitcoin users globally, regardless of their jurisdiction or residence and qualifies the currency with unlimited exchange freedom. Bitcoin transactions are feasible any time, from anywhere, between anybody, and without rules and regulations that are common with modern bureaucracy. This defines the infinite potential for an investor or a businessperson for never having to observe the day or time (where weekends of during night time) of transaction, as well as peer location or personal identity of peers you transact with. In the words of Satoshi Nakamoto, Bitcoins can be “transported over a communications channel” to a global user.[2]

2. Capitalization on an Anonymous Virtual Identity

To begin with, Bitcoin omits and does not require personal information or identity in any transaction. Transactions do not rely on the names of sellers and or buyers, and they do not even record personal addresses. Each user has a unique Wallet ID, which constitutes their virtual identity. Furthermore, Bitcoin eliminates any risks when transacting with merchants or customers.

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Bitcoin transactions come with a high level of security because they are:

  • Secure from charge-backs and fraudulent losses
  • Ledger-systemized
  • Irreversible
  • Accounted for and recorded in a public log based on unique user’s Wallet ID
  • Based on user agreements, making PCI compliance for all transactions irrelevant

Governments and organizations have risen up, severely opposing this benefit of a Bitcoin currency, arguing against potential abuse. Assorted interests have pointed out the likelihood of Bitcoin usage in drug trafficking and illicit commerce.[3] In the meantime, businesses are protected and galvanized regardless of the limited personal identity required.

3. Acquisition Integrity and Usage Mechanisms

Receiving and sending Bitcoins from and to peers (Bitcoin users) is not only reliable and secure as noted above, but acquiring a Bitcoin wallet is also as reliably systemized action.

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Bitcoin can be acquired in four distinctive ways, namely:

  • Competitive mining using Bitcoin mining hardware, where cryptography is systemized using advanced block-chain technologies
  • Payment from another user for agreed goods/services
  • Purchased with national currencies at Bitcoin exchanges
  • Peer exchange using send/receive payment arrangements

    Given that the Bitcoin network is peer-to-peer, every one of these transactions are recorded and accessibly open for review in a public ledger, known as the block chain. Therefore, the transactions can always be checked and validated in real time, as authentic transactions with highly protected digital signatures, by specialized mining hardware.

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    4. Globalization and Tax Exemptions

    Given that Bitcoin is a digital currency that has no legal tender status ascribed to any nation or any jurisdiction, all transactions are above tax liability. In what is emerging as a form of modernized finance, Bitcoin is still a goldmine.[4] No government in the world currently taxes any capital gain, income, or payroll limits recorded on Bitcoin. The practicality of that single fact, not only consolidates Bitcoin as a global currency, but also offers infinite potential for investors and businesspersons to benefit from the no-tax transactions.

    Featured photo credit: Antana via flickr.com

    Reference

    [1]http://www.businessinsider.com.au/bitcoin-price-skyrocketing-june-13-halvening-2016-6
    [2]http://www.huffingtonpost.com/david-seaman/bitcoin-is-not-what-you-t_b_11071712.html
    [3]http://www.businessinsider.com.au/potcoin-and-dopecoin-2014-3
    [4]http://www.huffingtonpost.co.uk/paul-mcneil/finance-modernized-by-bit_b_12760672.html

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    Last Updated on August 6, 2018

    20 Google Search Tips to Use Google More Efficiently

    20 Google Search Tips to Use Google More Efficiently

    Millions of people use Google search every day for a variety of reasons. Students use it for school, business people use it for research, and millions more use it for entertainment. But most people may not be using Google search to its full potential.

    Want to use Google search more efficiently and get the search results you want quickly? Here are 20 Google search tips and tricks to maximize your search efficiency:

    1. Use the tabs

    The first tip is to use the tabs in Google search. On the top of every search are a number of tabs. Usually you’ll see Web, Image, News, and More. Using these tabs, you can help define what kind of search you need to do. If you need images, use the Image tab. If you are looking for a recent news article, use the News tab. It’s rudimentary and most people use the tabs already. If you are not, then it’s highly recommended to get associated with them. They can cut search times dramatically if utilized properly.

    2. Use quotes

    When searching for something specific, try using quotes to minimize the guesswork for Google search. When you put your search parameters in quotes, it tells the search engine to search for the whole phrase. For instance, if you search for Puppy Dog Sweaters, the engine will search for content that contains those three words in any order. However, if you search “Puppy Dog Sweaters”, it will search for that phrase exactly as you typed it. This can help locate specific information that may be buried under other content if not sorted out correctly.

    3. Use a hyphen to exclude words

    Sometimes you may find yourself searching for a word with an ambiguous meaning. An example is Mustang. When you Google search for Mustang, you may get results for both the car made by Ford or the horse. If you want to cut one out, use the hyphen to tell the engine to ignore content with one of the other. See the example below.

    • Mustang -cars

    This tells the search engine to search for mustangs but to remove any results that have the word “car” in it. It can be wildly helpful when finding information about something without getting information about something else.

    4. Use a colon to search specific sites

    There may be an instance where you need to Google search for articles or content on a certain website. The syntax is very simple and we’ll show you below.

    • Sidney Crosby site:nhl.com

    This will search for all content about famous hockey player Sidney Crosby, but only on NHL.com. All other search results will be removed. If you need to find specific content on a particular site, this is the shortcut you can use.

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    5. Find a page that links to another page

    This Google search tip is a little obscure. Instead of searching for a specific page, you’re searching for a page that links to a specific page. Think about it this way. If you want to see who cited a New York Times article on their site, you would use this trick to find all the sites that link to it. The syntax is below.

    • link:nytimes.com

    That will return all pages that link to the New York Times official website. The URL on the right side can be practically anything. Be aware, though, that the more specific it is, the fewer results you’ll get. We know not a lot of people will likely use this Google search trick, but it could be very useful for some.

    6. Use the asterisk wildcard

    The asterisk wildcard is one of the most useful ones on the list. Here’s how it works. When you use an asterisk in a search term on Google search, it will leave a placeholder that may be automatically filled by the search engine later. This is a brilliant way to find song lyrics if you don’t know all the words. Let’s look at the syntax.

    • “Come * right now * me”

    To you or me, that may look like nonsense. However, Google search will search for that phrase knowing that the asterisks can be any word. More often than not, you’ll find they are lyrics to The Beatles song “Come Together” and that’s what the search will tell you.

    7. Find sites that are similar to other sites

    This is a unique one that could be used by practically everyone if they knew it existed. Let’s say you have a favorite website. It can be anything. However, that website is getting a little bit boring and you want to find other websites like it. You would use this trick. Below is the syntax.

    • related:amazon.com

    If you search that above, you won’t find a link to Amazon. Instead, you’ll find links to online stores like Amazon. Sites like Barnes & Noble, Best Buy, and others that sell physical items online. It’s a powerful Google search tool that can help you find new sites to browse.

    8. Use Google search to do math

    As a college student, I can attest that I use this one rather frequently. Google search can actually do math for you. This is a rather complex one to describe because it can be used in so many ways. You can ask it basic questions or some more difficult ones. It is important to note that it won’t solve all math problems, but it will solve a good number of them. Here are a couple of examples of the syntax.

    • 8 * 5 + 5
    • Planck’s Consant

    If you search the first one, it’ll return 45. It will also show a calculator that you can use to find answers to more questions. This is handy if you need to do some quick math but don’t want to do it in your head. If you search the second term, it will return the number value of Planck’s Constant. So it can do math, but it can also help you solve math problems by showing values for known mathematical terms.

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    9. Search for multiple words at once

    Google search is flexible. It knows you may not find what you want by searching only a single word or phrase. Thus, it lets you search for multiples. By using this trick, you can search for one word or phrase along with a second word or phrase. This can help narrow down your search to help you find exactly what you’re looking for. Here is the syntax.

    • “Best ways to prepare for a job interview” OR “How to prepare for a job interview”

    By searching that, you will search both phrases. Remember the quotes tip above? It’s being used here as well. In this instance, these two exact phrases will be searched. It can be done by word too, like the example below.

    • chocolate OR white chocolate

    This will search for pages that have either chocolate or white chocolate!

    10. Search a range of numbers

    Searching for a range of numbers is another tip we don’t anticipate a lot of people using. The people that do use it, though, will probably use it quite a bit. People interested in money or statistics will find this tip particularly useful. Essentially, you use two dots and a number to let Google search know you’re looking for a specific range of numbers. Like the syntax below.

    • What teams have won the Stanley Cup ..2004
    • 41..43

    In the first instance, the search will toss back the team that won the Stanley Cup in 2004. The two dots with only one number will tell the search that you don’t need anything before or after 2004. This can help narrow down searches to a specific number to improve search results. In the second, Google will search for the numbers 41, 42, and 43. It is obscure, but wildly useful if you happen to need to search for numbers like this.

    11. Keep it simple

    Now we’re getting into the general tips. Google search knows how to search for a lot of things. What this means is you don’t need to be too specific. If you need a pizza place nearby, use this to search.

    • Pizza places nearby

    Google search will grab your location and deliver a variety of results about pizza places that are near you.

    12. Gradually add search terms

    There will come a time when Google search doesn’t shovel out the results you expect. In this instance, keeping it simple may not be the best option. As Google itself suggests, the best method is to start with something simple then gradually get more complicated. See the example below.

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    • First try: job interviews
    • Second try: prepare for job interviews
    • Third try: how to prepare for a job interview

    This will gradually refine the search to bring you fewer, more targeted terms. The reason you don’t go straight from the first try to the third try is because you may miss what you’re looking for by skipping the second step. Millions of websites phrase the same information in a number of different ways; using this technique lets you search as many of them as possible to find the best info.

    13. Use words that websites would use

    This is a very important one. When people use Google search to hunt the web, they generally search for things using the same language that they would use for speaking. Unfortunately, websites don’t say things the way people do; instead, they try to use language that sounds professional. Let’s look at some examples.

    • “I have a flat tire” could be replaced by “repair a flat tire.”
    • “My head hurts” could be replaced by “headache relief.”

    The list goes on and on. When searching, try to use terminology you would find on a professional website. This will help you get more reliable results.

    14. Use important words only

    The way Google search works is to take what you search for and match it with keywords in online content. When you search for too many words, it may limit your results. That means it may actually take you longer to find what you’re looking for. Thus, it is apropos to use only the important words when searching for something. Let’s see an example.

    • Don’t use: Where can I find a Chinese restaurant that delivers.
    • Instead try: Chinese restaurants nearby.
    • Or: Chinese restaurants near me.

    Doing this can help Google find what you need without all the clutter. So remember, keep it simple and use important words only.

    15. Google search has shortcuts

    A number of commands can be entered to give you instantaneous results. Like the math example above, Google can immediately give you the information you need that is displayed right at the top of the search results. This can save time and effort so you don’t have to click a bunch of bothersome links. Here are a few examples of some commands you can enter into Google.

    • Weather *zip code* – This will show you the weather in the given zip code. You can also use town and city names instead of area codes, but it may not be as accurate if there are multiple area codes in the city.
    • What is *celebrity name* Bacon Number – This is a fun little one that will tell you how many connections any given celebrity has to famed actor Kevin Bacon. The popular joke, Six Degrees of Kevin Bacon, is that no actor is more than 6 connections away from Kevin Bacon. Mark Zuckerberg has a Bacon Number of 3.
    • The math example posted above is another one.
    • What is the definition of *word* or Define: *word* – This will display the definition of a word.
    • Time *place* – This will display the time in whatever place you type in.
    • You can check any stock by typing its ticker name into Google. If you search for GOOG, it will check the stock prices for Google.

    These quick commands can take a web search that is usually multiple clicks and condense it into a single search. This is very helpful for information you need repeatedly.

    16. Spelling doesn’t necessarily matter

    Google search has gotten a lot smarter over the years. These days, you don’t even need to spell words correctly. As long as it’s pretty close, Google can usually figure out what it means. Here are some examples.

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    • If you search “Nver Gna Gve Yo Up” Google will automatically assume you mean to search for “Never Gonna Give You Up.” If by chance your misspelling was intentional, Google gives you the option to search for the misspelled term instead.

    This trick is great if you happen to forget how to spell something or are not altogether sure how something is spelled. It can also be helpful when searching for obscure words. This applies to capitalization and grammar as well.

    17. Use descriptive words

    Pretty much everything can be described in multiple ways. Take our namesake, the “life hack.” The terminology “hack” refers to a computer programmer breaking security on a network or system. However, when used in conjunction with the word “life”, it alters the meaning to tips and tricks people can use to improve their lives. If you have trouble finding what you’re searching for, keep in mind that people may search or define what you need in a different way than you do.

    • You may search “How to install drivers in Ubunut?”
    • When you really mean “Troubleshoot driver problems Ubuntu.”

    There really isn’t a good specific example for this one. If you search for something and you can’t find an answer, try asking the same question using different words and see if that helps the results.

    18. Find a specific file

    An often forgotten feature of Google search is the ability to search for a specific file or file type. This can be infinitely useful if you need a specific PDF or PowerPoint file that you previously viewed or need to use for another project. The syntax is quite simple.

    • *Search term here* filetype:pdf

    In the above example, you simply replace the search term with whatever you’re searching for. Then use the filetype command and enter the extension of any file type you can think of. This can mostly be useful for scholarly purposes, but business presentations and other assorted presentations can benefit from this kind of search as well.

    19. Money and unit conversions

    Google search can quickly and accurately convert both measurement units and currency value. There are a variety of uses for this, like checking to see the conversion rate between two currencies. If you happen to be a math student, you can use it to convert from feet to meters or from ounces to liters. Here’s how to do it.

    • miles to km – This will convert miles to kilometers. You can put numbers in front to convert a certain number. Like “10 miles to km” will show you how many kilometers are in 10 miles.
    • USD to British Pound Sterling – This will convert a US dollar to British pounds. Like the measurements above, you can add numbers to find exact conversions for a certain amount of money.

    It’s true that this tip is geared toward math students and international business people. However, you’d be surprised how often these tips are used by regular people.

    20. Track your packages

    Our last trick is to use Google search to find out where your packages are. You can enter any UPS, USPS, or Fedex tracking number directly into the Google search bar, and it’ll show you the tracking information about your package. This is much easier than going to the specific sites, waiting for them to load, then searching for your packages there. No examples are really needed for this one. Just type your tracking number in and see where your package is.

    Google Search wrap-up

    Google search is a very powerful search tool. Using the tips outlined above, you can find anything and everything you could ever need on the World Wide Web. Whether it’s avoiding Wikipedia for a school essay project, finding the latest stock prices, or even finding song lyrics, there is a way to make Google search work for you.

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