Accepting Bitcoin Payments
All these definitions are thanks to Wikipedia. A Cryptocurrency (Crypto-currency) is a digital asset designed to work as a medium of exchange, that uses strong cryptography to secure financial transactions, control the creation of additional units, and very the transfer of assets.
Bitcoin, Litecoin -- these are types of crypto-currencies.
Bitcoin is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries.
Litecoin was an early bitcoin spinoff or altcoin. Litecoin is a peer-to-peer crypto currency and open-source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority.
It's all techie and complicated. Youtube videos by Andreas M. Antonopoulos are a good place to start. I tried to read his first book but it was too technical to be helpful.
Do you conduct business internationally? Is it time for your business to accept crypto currency? I could help you with that business feature. Here is a great article on how to accept Bitcoin. I'd be setting you up with Coinbase and optionally Bitpay too. 3 ways to Accept Bitcoin Payment
Then you would need help in how crypto currency is taxed in the USA, which I now know about too. Therefore, I know how to do the accounting for buying and selling. Also, if your need is for specialized bitcoin tax preparation help, I can refer you to a crypto tax preparer. Her name is Laura Walter. She calls herself the "Crypto Tax Girl". Her website is Crypto Tax Girl Website.
This is 100% more than I knew a month ago about this subject, and 100% more than the month before that. Perhaps my learning curve is as radical as the rise of Bitcoin. Between being out there working for very sharp small business owners (and very sharp non-profit managers), plus constant studying, I learn more about this subject every day!