Bitcoin Exposed: Today's Complete Guide to Tomorrow's Currency

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Book: Read Bitcoin Exposed: Today's Complete Guide to Tomorrow's Currency for Free Online
Authors: Daniel Forrester, Mark Solomon
have Bitcoins waiting for them. They can either provide Coinbase a Bitcoin wallet for receiving the payment, or set-up an account with Coinbase for receiving the payment.
     
    There are many other ways of sending Bitcoins directly to debit cards with OkPay.com, or to other online payment services with Dwolla.com, MyBitcoin.com, and others. Same basic steps apply.
     
    1. Get the receivers Bitcoin wallet address.
    2. Open our Bitcoin wallet or account screen on any Bitcoin exchange we have our Bitcoins stored in.
    3. Use the Send function and put the receivers Bitcoin address and/or email in the “To:” box. 
    4. Carefully confirm amounts and addresses. Once we hit send, there is usually no method of canceling or recalling the transfer.
     

Accepting Bitcoins In Business
     

Bitpay.com appears to be the leading merchant services provider for online stores. There are several other methods that work almost like Paypal for accepting payments via Bitcoin. The other Bitcoin merchant tools do require some custom coding.
    All we need to do is give users our Bitcoin wallet address for sending payments to us. We can also choose to create an individual wallet address for each sale. This is how the automatic checkouts work and requires software for generating an unlimited number of unique Bitcoin wallet addresses.
    Bitpay.com simply requires setting up our products with BTC prices, the normal account tie-ins such as business name, tax code number (EIN# for a business or Social Security# for individuals in the U.S.) and accounts tied to the BTC wallets. Then Bitpay provides all the clearing and collection function.
    Showing that we accept Bitcoins on the first page of our store or site shows we are ready for conducting business in the newest digital way.

    With our proud sign displayed, we can use one of many different merchant solutions. Bitpay is generally the leader, but others offer similar functionality.
    Merchant solutions for Bitcoin:
    - Okpay.com
    - Mtgox.com
    - BIPS
    - BitUtils
    - Paysius
    - Walletbit
    - Bitpay
     
    This is only a small portion of the ever-expanding options for merchants.
    All that we need to do to sell with Bitcoins, is sign-up for one of the above accounts, (again, bitpay.com is recommended) and place the correct Bitcoin code they provide onto your website. The site will automatically coordinate the Bitcoin transfers and loading up the correct wallet from the purchases.
     

Using Bitcoins Anonymously
     

There are several forms of anonymity for online purchases.
     
    Store/service purchasing transaction anonymity - We are able to generate separate wallet addresses so that the store does not see repeat orders from one wallet. This form of privacy breaks the database many stores, such as Amazon, Target, Costco, etc. keep on customer purchases. There will be almost an infinite number of purchases from different Bitcoin wallet addresses.  Different Bitcoin addresses with different purchases makes it almost impossible to track buyers.
     
    We can maintain this low level of anonymity by creating a new Bitcoin address or wallet for each purchase. Many Bitcoin wallet services or clients have a “New Address” option for each purchase. This option creates a shadow wallet address that ties in with your main wallet and masks where the purchase came from.
     
    Our original Bitcoin wallet address, account, and email address can be tracked back to our Internet service provider (ISP), computer, and finally, our identity.
     
    Preventing any attempt at linking a person to a Bitcoin wallet address, service, or email requires a more thorough approach.
     
    These steps are available from Anonymity.com:
     
    1. Use Tor browser from http://www.torproject.corg.
    2. After Tor confirms that you are being routed through the Tor proxy network, go to TorMail for hidden service and create an email account. This is the first, and major roadblock for anyone tracking Bitcoin addresses - anonymous email addresses.
    3. Create a new,

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