So have you heard of BitCoin? Well I hadn't until a few days ago,
so what is it? BitCoin (BTC) is a relatively new and very exciting currency
which is gaining popularity in all corners of the web (and the Darknet). BitCoins are a completely
decentralised digital currency created in 2009 by developer Satoshi Nakamoto. A
BitCoin is made up of 100 million smaller units of currency which are called
Satoshis (this is what you will be earning). All transactions are logged using
a peer-to-peer network which has in built checks to verify payments and to
prevent double spending….. If you want a more in depth explanation then take a
look at the Wiki page here.
What would you do with these BitCoins, what’s the point? The
currency is gaining a reputation for being a very cheap and secure way of
dealing with digital payments. Although we are yet to see any big name
retailers accepting Bitcoins as payment there have been a lot of websites setup
as alternatives, for example there are now alternatives to eBay and Amazon,
also for food, gambling, pornography, and whole lot more in-between. The list
of businesses and services taking BitCoin is quite long and ever growing so we
will come back to it once we have some coins to spend!!
Come on then, what is this blog about? It’s about finding new and
fun ways to collect free BitCoins or work for BitCoins to help your pile grow.
It can be a fun way to pass time and
also learn about how the system works as a whole. Also I feel that there needs to be a good quality blog steering new and experienced Coiners through the world of crypto-currency.
also learn about how the system works as a whole. Also I feel that there needs to be a good quality blog steering new and experienced Coiners through the world of crypto-currency.
Right what’s next? I want some BitCoins! OK, I understand you wanting
to get hold of some coins now I really do! I did as soon as I heard about it, well
that will be in my next post detailing with where to buy BitCoins and where to
store them…. well in your wallet of course!
I hope that this has tickled your interest in all things BitCoin, I apologise if
you are waiting to get into the meat of the blog, but I have to start from the beginning
for anybody just starting out. I know how difficult I found it trying to find
solid information for beginners.
As always comments and
suggestions are more than welcome!
Thanks and bye for now!
The Duke
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