Whoever demands from others to finally become digital must not prevent this trend from growing. As a result, we have decided to test the waters and offer a new payment method for webinale and the International PHP Conference: Bitcoins —not only because of the digital aspect, but also because of the fact that it is part of our future.
Bitcoin – part of our future
Bitcon was first presented in 2008 in a White Paper and has been a constant presence in the digital space for the past six years. Of course it’s not about bills and coins, but digital units—the Bitcoins.
Bitcoins can no longer be ignored as they have undoubtedly become part of our future —a statement emphasized by Bitcoin activist Caterina Rindi during the recent JAX 2016.
After a conversation with Caterina, we decided to jump on the bandwagon and offer those interested in webinale and PHP Conference a new payment method: Bitcoin.
webinale und International PHP Conference accept Bitcoins
If we’re talking about the future, both webinale and the PHP Conference must be part of the conversation. For this reason, we proudly present Bitcoin Payment. To make things even more exciting, all those who use this new payment method to reserve a spot at webinale or the PHP Conference receive a 20% discount for the price in Euros. A word of advice for the English speaking attendees: The Bitcoin payment can only be made via the German registration form. Our customer service desk is available for any questions at any time.
The provider who made this possible is BitcoinPay —a London-based startup which specializes in Bitcoin payment and makes the process as easy as possible; you can transfer the Bitcoin with the click of a button.
Shopping with Bitcoins: How it works
In order to use the Bitcoin method, one needs a digital wallet, a Bitcoin address and a private key. Although some people see this as a complicatd process, in reality there is not much of a difference between a bank transfer and using this digital currency. You can pay it for example at Microsoft or at the webinale or the International PHP Conference.
According to Coinmap.org, 7.781 companies across the world now accept Bitcoins, including a plethora of small shops and restaurants. Only in Berlin there are as many as 47 ways to use Bitcoins to pay for products or services.
Participation in trading
To participate in the trade, one can acquire Bitcoins in various ways —such as buying digital money on virtual exchanges. The exchange rate was moved six years ago in the single-digit range (below $10 per coin). Today the amount is transformed: a coin was worth roughly $450 in late April this year.
However, those who want to enter the digital business arena should know that they can use smaller amounts. Furthermore, you can get Bitcoins by earning them through mining (which helps generate new bitcoins) or accepting them as a payment for services and goods.
Blockchain is the technology which makes Bitcoin possible. A blockchain is a public, decentralized distributed ledger which faciliates the registration of financial transactions. In theory, any type of transaction between multiple users can be carried out without the need for a legitimized central location.
Every transaction receives a cryptographic hash, which makes financial transactions safer and inevitably more reliable. Companies such as IBM or the Linux Foundation with its Hyperledger have been trying to simplify the blockchain technology and make it more attractive especially for companies —not only for financial purposes, but for a greater variety of reasons. But the focal point is currently the size of the individual blocks of blockchain —which is widely considered a problematic aspect of this technology.
Anonymity as a perk
One special feature of Bitcoin is that the Bitcoin account does not contain any information whatsoever about the owner, thus providing a veil of anonymity. However, anonymity is somehow short-lived because the purchase of Bitcoins in major stock exchanges must be made through a bank account. Bitcoin transactions are usually legal and can be used in places across the world without any problems. The European Court has also acknowledged that Bitcoin is a legitimate payment method, which means that the foreign exchange bill between state currencies and Bitcoin is not subject to VAT.
Anonymity is a perk that both webinale and the PHP Conference offer as far as Bitcoin payment is concerned.
Which stock exchanges are there?
How To Buy Bitcoins offers an overview of the numerous Bitcoin exchanges. Another feature of the Bitcoin trade is the fact that virtually all trade movements are made public. Even though buyers and sellers remain anonymous, who exchanges how many digital coins is something anyone can see. As a result, the Bitcoin market is very transparent.
Coinbase was the first legalized Bitcoin exchange market. The presentation reminds us of a huge stock exchange, not a dark internet shop.
Users who want to safeguard their credit usually opt for a provider of digital wallets. The use of tools that help manage and process payments is not enough though; people who wish to be protected against hackers and other perils should be more careful. It is essential to know that Bitcoin payments are not reversible (once the digital coins leave your wallet).
A payment is processed in roughly 10 minutes; during this time, the blocks repeatedly confirm the payment. The buyer may try to cheat the system and either reverse the payment or issue the same digital cash. Although this not an easy thing to do, it is the reason why many transaction platforms ask their clients to observe the payment during those 10 minutes and then confirm —only then can the transaction be concluded.