BYSD Bayside Corp. Embarks into the Billion Dollar Bitcoin Revolution
Bayside, Bitcoins & Bitcoinz USA.com
Bayside Corp. Embarks into the Billion Dollar Bitcoin Revolution
http://baysidecorp.com/2014/01/16/bayside-cor...evolution/
Bayside, Bitcoins & Bitcoinz USA.com what’s all the buzz and excitement about? Well, first off lets take a moment to understand what a Bitcoin is and answer a few common questions.
What’s a Bitcoin?
Bitcoin is a digital and global money system (currency). It allows for the pseudo-anonymous (not linked to a real name) trading of money via the internet. The mathematical field of cryptography is the basis for its security. A basic premise underpinning the Bitcoin is that because it is decentralized and not issued by government, it is supposedly free from interference and manipulation, in stark contrast to the world’s fiat currencies.
Bitcoins are like the U.S. dollar in that there’s almost nothing you can’t buy with them. It exists in a digital form and is bought and sold using software — through peer-to-peer networks. But there are a few things that set Bitcoin apart. For example, it’s not just currency. It’s also a technology and platform. Bitcoin is built with an open-source code that has essentially de-centralized transactions. The software uses a network of people’s computers to manage “blockchains” — a transaction log that the entire system relies on. Every transaction made with bitcoins is logged on block chains. There are no exceptions. Instead of having a central bank where money is kept, the block chain organizes who officially owns bitcoins.
Who owns Bitcoin?
Technically, no one person owns Bitcoin because new Bitcoins are generated by a network of computers and traded on peer-to-peer networks. The Bitcoin protocol was introduced in 2009 by a developer or group of developers who use the pseudonym Satoshi Nakamoto. Several attempts have been made to reveal Nakamoto’s real identity, but there has been little success.
How are Bitcoins created?
Bitcoins are created through a “mining” process that involves complex number crunching by the computers in this network; this process currently creates 25 Bitcoins every 10 minutes. The limit of 21 million is expected to be reached in the year 2140, after which the total number of Bitcoins will remain unchanged. The total number of Bitcoins that will be issued is capped to ensure they are not devalued by limitless supply.
Bitcoinz USA.com,Inc.?
Bitcoinz USA.com, Inc. is a wholly owned subsidiary of Bayside Corp. The newly formed company is the vehicle that Bayside will use to enter into the Bitcoin and other cryptocurrency exchange sector. More information can be found about Bitcoinz USA.com directly at: www.bitcoinzusa.com
When did Bayside get involved with Bitcoins?
The principals of Bayside’s new subsidary company, Bitcoinz USA.com have been mining Bitcoins for over one year. During the summer of 2013, the Bayside management team formulated an entry plan into the the Bitcoin market.
To continue, the Bayside management team observed that there were three key markets within the Bitcoin revolution with the potential to churn in billions of dollars in profit.
- Wallet. Holding your Bitcoins for you, serving some of the checking account functions of a bank.
- Exchange. Converting from fiat currency to Bitcoins and back
- Payments. Helping merchants accept Bitcoins for their transactions
Quickly thereafter, the management team made a decision to focus on the exchange sector through the use of a physical automated machine also known as a Bitcoin ATM machine that can buy and sell Bitcoins and/or any other cryptocurrency with any global fiat currency.
What’s next?
Bayside plans to deploy its own network of physical Bitcoin ATM machines made by the company throughout North America starting in the early part of 2014.
Bayside has not made any formal announcements as of yet, however the company will be make several public announcements very soon.
Prior to these announcements, the Bayside management team believes that it’s important to communicate the company’s overall vision, objectives, goals and intentions to its shareholders so that the steps that the Bayside management team is currently taking makes better sense along the way.
The Bitcoinz USA.com presentation below provides an overview of what the Bayside management team is hard at work to achieve through Bitcoinz USA.com .
In conclusion, Bayside is currently celebrating 30 years of business success, innovation and vision. At Bayside, we believe that the future is now because our efforts to build shareholder value for the future will have a positive impact on the world around us today.
