By Kelly Hamby
More Bitcoin for your brain….
I was checking out some more on bitcoin and the Faucets available when I noticed that there are games that you play or even small on line task to complete in exchange for Satoshi or other BTC currency.
I found some more ” beginner” bitcoin information that I think you readers might find interesting. So let’s see what you think….
Previous I wrote bitcoin was a decentralized digital currency. Today I read that it was a currency and a commodity in its current guise. It’s rise in value has been the thing to make it famous, but that’s also the thing that has undermined its usefulness as a currency. That was read on a web page from WIRED.CO.UK.
Bitcoin or USD? Your choice
I also wrote that merchants were accepting bitcoin with incentive in witch I still agree, but I also have learned that if you’re someone who wants to accept bitcoins as part of a business, then having to update your prices every minute isn’t necessarily useful — nor is the worry that deflation might discourage coins from circulating, or the worry that the whole thing could pop without warning.
I would find that being a merchant this would be a huge concern to consider. Currently I am working an completing a business plan pertaining to financial backing for the start up cost of a small business. Up untill now I never really considered bitcoin or other digital currencies as a form of accepted payment.
My dad use to say every day after school when I got home: What did you learn today? I remember him asking on a day I was off from school. Immediately I reminded him I didn’t have school that day. His response was that in form of a question: So did you break some sort of school rule or did you learn something about where you can be educated?
There are No restrictions on learning and there is a lot to learn about bitcoin. So let’s continue with crytptocurrencies….
Well did you know there were more than 669 cryptocurrencies available for trade in online markets as of 24 August 2015 and more than 740 in total? but only 9 of them had market capitalizations over $10 million. Look at this list I put together from Wikipedia — (Active ⇑) (Not Active ⇓)
⇓Zerocoin – Proposed bitcoin extension to add true cryptographic anonymity.
⇑Bitcoin – First decentralized ledger currency.
⇑Litecoin – First successful scrypt cryptocurrency.
⇑Peercoin – First to use POW and POS functions.
⇑Nxt – Nxt is specifically designed as a flexible platform to build applications and financial services around its protocol.
⇑Primecoin – prime chains composed of Cunningham chains and bi-twin chains for proof-of-work, which can lead to useful byproducts.
⇑Auroracoin -Created as an alternative to fiat currency in Iceland.
⇑BlackCoin -BlackCoin secures its network through a process called minting.
⇑Dash – Adds privacy to transactions through a decentralized coin-mixing system called Darksend.
⇑DigitalNote -DigitalNote (XDN) is a new private cryptocurrency with an instant untraceable crypto messages and first blockchain banking implementation, use CryptoNote protocol.
⇑MazaCoin – The underlying software for MazaCoin is derived from that of another cryptocurrency, ZetaCoin.
⇑Monero – Monero (XMR) is a new privacy-centric coin using the CryptoNote protocol.
⇑PotCoin – Developed to service the legalized cannabis industry.
⇑Titcoin – First cryptocurrency to be nominated for a major adult industry award.
⇑Bata – Bata has the ability to connect markets that have traditional boundaries or restrictions on trade utilizing BTA I2P or TOR Nodes – optional privacy and security – this will be the key to a Barter Service.
Bata was developed with the long term goal of replacing Barter Trade dollars, which are essentially tokens with no real value. Visit http://bata.io.
⇑Ethereum – Turing complete smart contracts.
⇑Elastic Coin (IPO is currently running at http://elastic.pro)
Uses the computational power required to form a consensus about the blockchain using POW for useful, arbitrary calculation tasks which are provided by the users of ELC. You could say, its the biggest computation cluster available to anyone.
Businesses have started accepting Bitcoin, to their credit. There’s a whole neighbourhood in Berlin that’s seemingly converted on mass, while the range of online services that accept it — from WordPress to OK Cupid — is now long enough to be essentially pointless in listing, again significant in showing Bitcoin is now a legitimate currency.
The most prominent alternative to Bitcoin, Litecoin works upon the same fundamental principles. However, it’s positioned as a not just an alternative to Bitcoin, but a complementary cryptocurrency — “the silver to Bitcoin’s gold“.
Roughly every ten minutes, a new blockchain is generated and disseminated throughout the Bitcoin network by each node, and the version that becomes the accepted, canonical version is the one that is disseminated by the greatest number of nodes.
However, something very worrying happened on 11 March, when the blockchain forked into two. For roughly six hours, there were effectively two versions of Bitcoin in operation. This shouldn’t happen. It was only resolved when one chain eventually “pulled ahead” of the other, becoming established as the legitimate blockchain again.
Litecoin was founded in October 2011 in recognition that this kind of problem was probably going to happen if Bitcoin were to become popular. Merchants require large numbers of small value transactions happening quickly, something that Bitcoin isn’t really well-suited for. Larger transactions, happening slower (remember, new blockchains generate every ten minutes) are more suited to it.
That’s why Litecoin has a faster transaction time (roughly two and a half minutes) than Bitcoin, and, with four times as many coins in circulation, it theoretically offers smaller divisions of coins to make smaller transaction values more feasible. The current exchange rate, as of the time of writing, puts a litecoin worth roughly 1/30th that of a bitcoin (or around £2.50 per Litecoin), making it the most valuable cryptocurrency after Bitcoin.
Well I wanted to let you know about a game that is a virtual mining stimulation game that works like cloud mining systems. You can withdraw coins that you produce or send directly to your wallet. Consider it real life and try and increase your production capacity. You can transfer funds or purchase at their store. It’s a fun way to learn and make $. 00 Follow this link
MinerFarm – Try out bitcoin mining while you learn! Ready to have fun and profit? Click the link and let’s go…..
Also take a look at CCN.LA for bitcoin updates and news, it is a great web site.
BitcoinAgile.com is a good read, take a look.