Imagine a world with real capitalism – not a capitalism rigged in the favor of powerful bankers, rich hedge fund managers, multinational corporations and national governments. But real capitalism, free market capitalism, which is truly free – where people are free to trade with other people, free to make their own choices based on rational self-interest. A world with no powerful centralized authority that rules over it. It’s a world that would appeal to those of you who grew up reading Ayn Rand novels – but it’s not fictional and it’s real. Welcome to the amazing world of Bitcoins!
What is a Bitcoin, exactly?
A Bitcoin is defined as ‘a digital decentralized currency that is traded on an open source peer-to-peer network’. It may be traded with Dollars, Euros or several other major currencies. There is no centralized bank, government or an authority of any sort that can control or manipulate the Bitcoin. A Bitcoin may be owned by anyone, and if you own a Bitcoin, you own a tiny fraction of the Bitcoin bank.
Currently, at the time of this writing, a single Bitcoin is worth a phenomenal $457 USD! This is particularly impressive because not more than 5 years ago, the US Dollar was more precious than a Bitcoin. Because of such an incredible increase in value, the Bitcoin is attracting tremendous interest from the investment community. In fact, the highly regarded Silicon Valley venture capitalist, Chris Dixon, a partner with Andressen Horowitz, a major VC firm, says a single Bitcoin would eventually be worth $100,000 USD.
This has led to a lot of interest in Bitcoins, with large companies such as Microsoft and Google getting involved – but they have as much a say in it as the average guy on the street who has just a couple of Bitcoins in his Bitcoin Wallet.
Microsoft actually stole a march over Google, having added Bitcoin, in its search engine Bing’s Currency Converter even before Google did. Nobody expected Microsoft to wake up to the potential of the Bitcoin currency much before more nimble footed technology majors such as Google and Facebook.
Bing Bitcoin Converter Review
Bitcoin is a great addition to the currencies supported by the one of the most popular features of Bing, its Currency Converter. Over 50 currencies are supported by the Bing Bitcoin Converter so far. However, Bitcoin conversion may only be made against a much smaller number of more popular currencies, including the US Dollar, the Euro, the Indian Rupee and the British Pound. Users may type simple commands such as “x bitcoin to name-of-currency ” to get a conversion from bitcoin to the specified currency. Example, “120 bitcoin to USD” or “12 Euros to Bitcoin”.
How does it help?
Bing’s Bitcoin Converter is really very useful to millions of people around the world who use Bitcoin in their financial transactions. The big problem with Bitcoin is that it fluctuates widely in price. The Bitcoin Converter allows the growing world community of Bitcoin users to track the Bitcoin price movements on a real time basis and manage their investments more effectively.
Who has the Better Bitcoin Convertor – Bing or Google?
Well, Google’s Currency Converter features Bitcoins too, but Bing has the early mover’s advantage here, having taken to Bitcoin a year before Google did. So Bing’s Bitcoin Converter is arguably more popular with Bitcoin users. This is one of the rare occasions where Bing has been able to steal a march over Google. Otherwise, there really is no major difference between Bing and Google when it comes to their Bitcoin converters. Hope you enjoyed this Bing Bitcoin Conver Review!