BitCoin

Click here to pay for your order!
If clicking on the line above does not work, use this payment info:
Pay to: 1FXdhv6p1HLizbtAfneLzmUhyd1rmT4d5g
Message: electrical service ac.com.au

 

qr

  • Bitcoin is a protocol, it is not owned by anyone, it is simply developed and let loose on the world.
  • Bitcoin relies on a trust less network, which means that nobody is required to trust anyone else in this network.
  • All bitcoin transactions can be viewed on the blockchain.
  • All bitcoin transactions are final, no refunds possible (unless there’s a fork, but that’s very rare)
  • You do not own X bitcoins, you own an address that everyone on the network agrees upon has X bitcoins
  • All bitcoin transactions from the past few minutes get put into what’s called a “block” and it has a math problem attached to it, which when being solved by a “miner”, gives (currently) 25 bitcoins. This is how bitcoins get generated.
  • When a block is found, the transactions contained in there are final unless another miner finds another block, in which case the clients agree to use the longest branch they receive.
  • Because these “forks” happen all the time and sometimes even span 2-3 blocks before the whole network decides on a longest chain, it is advised to wait 6 blocks before you are very very sure you got your money.
  • When you as a business want to be able to accept bitcoin as payment, the only thing you need is an app that makes QR-codes that contain a request of X bitcoins to your address.
  • Knowing that your clients could ask a refund months after payment from their credit card company, bitcoin is better at this, as it is usually instant.

More answers can be found on theĀ  FAQ