Monday, 10 June 2013

So what's all these talk I hear about Bitcoins???

So what is it all about? What is Bitcoin? Watch the short video above and get on the Bitcoin Wiki and start your research.

 Before you do, I'd like to share this Story of a man from the future!

Now, I stumbled upon this around February 2013 when +Nikki's brother +Craig showed me where we may be able to access what they call 'The Hidden Internet' or 'The Deep Web'.

His friend +Veg showed me how this can be done using Tor Browser which I've never heard of before. So installed the browser bundle and off I went exploring the "hidden internet" and I found out that the only payment they accept are Bitcoins (BTC) for short. At that time, the exchange rate was 1BTC for $25AUS so I thought, I'll get $150 worth and got me at least 6 BTCs, enough for what I needed at that time. 

Little did I know that within the next 2 months and in beginning of Apr 2013 it shot up to $261 per Bitcoin! Man, imagine if I bought whatever I had in my savings when they were only $25 and sold them for $261 each! (As of 22 Dec 2013 current market price is $650US, down from over $1000 in early Dec. 2013).

Anyway, we're at the early stages yet of what you may call, the 'Cryptocurrency' boom, so no loss still. This is because of how they are designed. For example, Bitcoins are only limited, which means the higher the demand for it, the higher the exchange will be in fiat currency. 
Check the current stats, only 21 million is only going to be found in total by 2140 and they can only be found through Mining. Watch the short video below.

Before you do that though, get a CoinJar account first if you are in Australia or Coinbase account if you are in the US, just like your fiat money, your Bitcoins need to be stored somewhere. These two sites is where you can securely buy or sell your easy-earned Bitcoins!

There are a whole lot of other cryptocurrencies out there now too, so you'd need a wallet for those ones. I like Cryptsy, not only that you can deposit your earned alt-coins there but you can also exchange those coins for Bitcoins. You'll find that the wallet addresses are a whole bunch of random letters and numbers, this is what you give out to people for them to send you payments, (it's like an email address for PayPal), If you do encrypt your wallet, don't forget your password, or you lose your coins!

Now that you have your wallet, why not just try earning FREE Bitcoins by visiting some websites and doing captcha codes. They're pretty easy. Check out couple of these links below:

  • Firstly, be sure to join Bitcoin Blizzard and earn lots of Bitcoins from different faucets.

    • Once you have some Bitcoin, invest them into MakeBTC, I have doubled my Bitcoin this way and have withdrawn over $1100AU already. Best scheme I've ever seen, to earn passive BTC income.

  • Now, while you're surfing the net, you can start mining through your browser as well by using Bitcoin Plus.

  • You can also start earning Bitcoins by visiting websites through Bitvisitor.

  • Once you've figured out what's mining is all about, join my Mining Pool at Triple Mining Pool.

  • You can literally earn bitcoins everyday!

  • You want to shorten a link? Why not earn bitcoins while doing it. Use CoinURL shortener.

  • Now one of my favourites is CoinReaper as it put together all those sites that you can earn bitcoins for every half-hour.

  • How about getting paid Bitcoins for watching videos online? Well you can, at Cointube

    Finally, you don't have to own your own Bitcoin Machine anymore, you can just rent them at a cheaper price without having to pay for electricity. This is what they call Cloud Mining where you can exchange your Bitcoins for Mining Power or sell your Mining Power for Bitcoins. It's Win-Win. Check out

    Currently I have 8 GHS (I've sold 10GHS when prices were about .07BTC, now it's around 0.024 GHS/BTC) so it's a good time to buy, it's much cheaper) in the Cloud and 30GHS of my own from ButterflyLabs Bitcoin Miner. So own your piece of Mining Company and start earning the currency of the future!!!