Bitcoin is a consensus network that allows a totally digital cash as well as a brand new payment system. It's the very first decentralized peer to peer payment network that's powered by its own users with middlemen or no central authority. From a user standpoint, Bitcoin is much like cash for the Internet. Bitcoin can be viewed as the most obvious triple entry bookkeeping process in existence.

How to Get Bitcoins

The virtual currency known as the bitcoin (BTC) has been steadily gaining popularity, but many people have still never heard of it, or don’t know exactly what it is, and certainly don’t know how to get bitcoins for themselves. With more and more retailers accepting bitcoins as a form of payment, the integrity of the bitcoin as a legitimate form of currency is being solidified, and the earlier you get into the bitcoin game, the better. This article will tackle the basics of bitcoin currency, as well as why people are so interested in it and how to get bitcoins for yourself.

What are Bitcoins?

Bitcoins are a type of virtual currency invented by the pseudonymous Satoshi Nakamoto, first released in 2009. The digital paper trail of all bitcoin transactions are tracked and managed by people called miners, who are rewarded for their efforts in the form of bitcoins directly upon their release. When miners spend their bitcoins on goods and services with people and merchants who accept them, they freely circulate in the bitcoin economy. The bitcoin is broken down into smaller denominations; just like the US dollar is broken down into quarters, dimes, nickels and pennies, the bitcoin is broken down into centibitcoins (1/100 BTC) millibitcoins (1/1000 BTC), etc. all the way down to the smallest unit of BTC currency, the Satoshi, which is equal to 1 x 10-8 BTC.
Why are Bitcoins Desirable?

From an economic standpoint, the bitcoin invention was simply brilliant. Bitcoins are released on a deflationary scale, which means that the number of bticoins released is decreasing over time, resulting in a decreasing supply and increasing demand. This means that, unlike traditional currencies, the relative value of bitcoins is expected to increase consistently, essentially forever. As of this writing, the value of bitcoin is $230 USD. This is the reason for the miniscule bitcoin denominations like the Satoshi; in the future, when the value of BTC is much higher relative to USD, a Satoshi will no longer be an essentially insignificant value. There is also little to no regulation of the currency. All of this is what makes the bitcoin appealing to certain people.

How to Earn Bitcoins
The direct way to earn large quantities of bitcoins is to mine. Most people aren’t interested in being a miner, though, but luckily there are two other ways to get bitcoins for yourself. The first is simply to accept bitcoins as a form of payment for any goods or services that you sell. The second is to visit websites known as faucets, which pay out free bitcoin currency, albeit in very small quantities, as a reward for completing simple tasks. These tasks could include clicking on links, visiting a specific website or watching a certain video. However you decide to get your bitcoins, you will first need to open a bitcoin wallet to keep them in. This is a digital wallet that you can manage as a desktop app on your computer, in your internet browser, or as a mobile application, and will let you collect and spend bitcoins just like regular currency, as long as it is an accepted form of payment.

What is a faucet?
A faucet is a website that enables individuals to bring in bitcoin (BTC) virtual money by completing simple tasks, like seeing a webpage to get a predetermined period of time, seeing advertising content, even solving CAPTCHAs and playing games. The payout from every faucet job is typically fairly modest, but over time as you roll up bitcoin money through multiple jobs, so when the worth of the BTC increases relative to other monies (which it's anticipated to do), the gains from bitcoin faucets may be significant. It's likely to grow more powerful over time when compared with other monies because bitcoin money will be released on a deflationary program, due to laws of supply and demand. So that you can receive bitcoin money, either or from a faucet, you will initially need to get a bitcoin wallet.
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