Category: Bitcoin

Bitcoin Q&A

Q. Bitcoin is very valuable is it really possible to get Bitcoin for free?
A. Yes it is, there are plenty of sites where you can mine Bitcoin for FREE.

Q. How easy is this to do? Do you need any special skills?
A. The only thing you will need is a computer, a tablet or a smart phone and an email address, that’s it. Simply watch the videos and copy what you see on the screen.

Q. Is there any way of collecting Bitcoin quicker, I’m keen to start collecting it as fast as possible?
A. Yes, by investing just a few dollars in some of the sites you can build your Bitcoin even quicker.

Q. What if I want to buy some Bitcoin as well as grabbing it for free can you show me the best places to get it?
A. There are plenty of on-line coin brokers that trade in Bitcoin and other Cryptocurrencies, you can also make money by referring other people to these coin brokers.

Q. If I do want to buy some Bitcoin do I have to Buy a whole coin? I really cannot afford to do that.
A. No worries you can buy as much or as little as you want to starting with just a few dollars will buy you part of a Bitcoin (called Satoshi’s), in fact that’s the way most people start to collect it. It’s a bit like starting to collect pennies or cents, eventually you get to a full pound or dollar, the same with Bitcoin.

Q. When will Bitcoin hit $100,000 a coin?
A. Don’t we all wish we had a crystal ball to answer that one! The prediction is it will do so within 10 years, but as with all investments the value of Bitcoin can go down as well as up.

Q. Is there a way of learning all these methods quicker than spending days on the internet trawling through thousands of pages of information?
A. Yes there is, I can highly recommend The Bitcoin Profits Plans [ADD YOUR JV ZOO AFFILIATE LINK TO THE PRODUCT TITLE] this training gives you everything needed to get started immediately.

The Bitcoin Profits Plan
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Q. How quick can I get started?
A. Just as quick as you can click the link on this page.

Now you have it directly from the horse’s mouth.

So, unless you have a time travelling DeLorean or can borrow the Tardis for a while then the best time to invest in Bitcoin is now.

What Exactly Is Blockchain?

Money essentially obtains its value from it’s ability to perform as a reliable ledger system. The better the ledger system is the more valuable that form of money will be. An ideal form of money would be one where the general ledger system could not really be tampered with.

This cryptographic ledger is a continuous record of settled transactions and ultimately creates a long list of blocks known simply as the blockchain. Unlike other forms of money, the blockchain or general ledger system is public and every transaction made between two Bitcoin wallets can be viewed at any point on the network.

While the transactions themselves are publicly visible the identities of the parties involved are private.

Here is a continuously updated list of Bitcoin transactions

Whenever a new block of Bitcoin transactions is created this new block is added to the blockchain. A constantly updated copy of each block is given to everyone participating allowing everyone to know what is going on.

The blockchain that Bitcoin is based on is exactly that: a general ledger system that is nearly impossible to tamper with.

When a new block of transactions is created, miners take the information in the block and apply a mathematical formula. The application of this formula turns the block into a far shorter, seemingly non-sensical sequence of 64 letters and numbers known as a hash.

No matter how much data is being condensed, whether it is a single sentence or all of the information contained within the library of congress, a Bitcoin hash will always be 64 numbers of letters. Once the hash is created it is stored along with the block at the end of the blockchain.

This is an example of a Bitcoin hash: (well actually it’s one of my own personal Bitcoin wallet address). If you wish to make donation to the upkeep of this site.

1FBTpUNJhHEmzeJiF9K8TF6ABjbPhjJdp8 [ADD YOUR OWN WALLET HERE]

Bitcoin users send Bitcoin to each other over the Bitcoin network all of the time but in order to accurately keep track of who paid what to Who an incorruptible ledger needs to be kept. Bitcoin deals with this by gathering all of the transactions made during a set period of time into a cryptographic ledger, or block

Every hash produced is exactly 64 characters and completely unique. Changing just a single character in a Bitcoin block changes the hash completely. The data contained within a block is not the only data used to generate a hash. One piece of data that is used is the hash of the last block stored in the blockchain.

This process of creating new hashes by using the hash of the block before it means that if any block were tampered with and was not legitimate, everyone would know.

 

Have I Missed The Bitcoin Boat?

Bitcoin and other Crypto currencies are the biggest news around and have seen extra ordinary growth in the past year. People are looking at Bitcoin now and kicking themselves that they did not invest in Bitcoin in early 2017 or better still in 2009 when Bitcoin made its first appearance. With thinking like that its easy to think that you have missed the Bitcoin boat.

Well the short answer to this is no you haven’t, let me explain. The price of a single Bitcoin has sky rocketed in 2017 from $930 (£811) a coin at the start of the year, hitting a high of nearly $20,000 (£14,355) in November 2017.

An increasing number of companies are accepting Bitcoin as a method of payment, and with the growth of Bitcoin services and the increasing use of Bitcoin ATM machines you can see why Bitcoin and other Cryptocurrencies are starting to be called the future of money. Obviously those that got in earlier have sen the biggest gains.

Rapper 50 Cent, also known as Curtis Jackson III, has reportedly amassed a small fortune in cryptocurrency. Jackson racked up about 700 bitcoins after agreeing to accept digital currency as an alternative form of payment for his 2014 album “Animal Ambition,” according to TMZ. That stake is now worth over $7 million. Not a bad piece of business.

With Bitcoin predicted to rise to over $100,ooo per coin in less than 10 years, we really are faced with a stark choice. Do we get in now? Or wait 10 years and start moaning about the lost opportunity.