What is Bitcoin? [EASY ANSWER]

Many people ask me what is Bitcoin and where do they come from. Let's explain it as easy as I could.

Bitcoin is a P2P currency. P2P means peer-2-peer. P2P transfer something to someone without any system between those person. Bitcoin is not like the normal money. It doesn't have any owner only a creator: Satoshi Nakamoto.

Bitcoins are in blocks. Each block has a reward. Instead of working to earn normal money like dollars or euros, you mine them. Mining is the process you "break" the blocks of Bitcoins to earn them. To break them you need to use your computer to solve tons of maths operations. When you break that block, you earn the reward. But it's not that easy. As Bitcoin network is very popular, the blocks are not easy to mine. In the beginning the people used the CPU to break it. When it got more difficult, they used the GPU. Then Bitcoin got very difficult and they discovered the ASICs for SHA256. It mines at a great performance and it's not a huge waste of electricity.

But this is very technical. The easy this is:

[BLOCK] -> You break it solving SHA256 -> You earn.

The value of Bitcoins depends of:
-People using it (and investors)
-Difficulty to earn them.
-Number of coins

When you do a PayPal transaction, you need to pay taxes and fees. This means it's controlled by governments. Bitcoin is different. Bitcoin has servers. BUT your currency can't be stolen.

Cryptocurrency it's made with crypto from "cryptography" (similar to encryption) and currency.
It's named cryptocurrency because it uses SHA256 for mining and for the transaction's ID.

They are secure. They are signed each one and can be divided into parts (min. 0.00000001).
They cannot be multiplied. They are signed and there will be only 29.000.000.

There are also other kind of measurement for Bitcoins:
-mBTC: 0.001 BTC
-uBTC: 0.000001 BTC
-Satoshi: 0.0000001 BTC

The minimum transaction without paying high fees is 0.00005500BTC .

How do people earn Bitcoins without doing anything?

Earning Bitcoins for anyone who is starting with this new world is difficult to earn your his/her first Bitcoins (or better said his first uBTC).

Actually nobody gives more than 0.00001 BTC if you don't do anything for earning that.

So, how do people earn from faucets/PTC sites without doing anything? The key is on referral programs. A referred people is a person who came to a website because some friend or some person invited him. The faucets and PTC like Freebitco.in and CoinAd.com gives you Bitcoins from the referrals.

For example, on CoinAd you get from 10% to 20% from the earnings of your affiliated people. on FreeBitco.in you earn the 50% of the earnings from your referrals!!

To get referrals is not an easy task if you don't have a popular website. So the people advertise on other webs with the faucet site and it's referral. They earn more with the referrals than the advertisement cost.

Once you have your ad set up you can relax and see how the Bitcoins come to you. The bad part of this is the poor people who clicks the ads and use the referrals. They work for others basicly.

I'm not saying referral program is bad. But you shouldn't register on a website with a referral link if you don't know who is the person.

Best advertising sites to earn Bitcoins!

One of the best things to earn Bitcoins is to create a website and put ads on it. It gives you a great amount of Bitcoins. Unlucky your website needs to be a good web.

The best I found were:

-Operation Fabulous: The one I'm using. The advertisers create campaigns on your web. Allows you to choose the kind of advertisement and the ads.

-CoinURL: Generic ads for anyone. They have a very strict policy. They don't accept faucets, blogs, web monetization, etc. You earn a lot.

-Anonymous Ads (a-ads): Anonymous advertising platform. Need campaigns.

Probably the advertising is not the best way to earn money. To promote your website you need to advertise too on other pages that have popularity. For example, use the PPV system to promote your web. Using referrals also help to earn a commission.

CoinURL or Coin-Ads? Which is the best?

Which is the best? CoinURL or Coin-Ads?

Those are websites offering shortening services and they pay you for each click. In both, the minimum cashout is 5 mBTC (which is a lot if your link is not popular).

Which pays more? CoinURL pays 0.00000050 minimum each click. Coin-Ads pays you 0.00000200 BTC each click.

Which is the best? CoinURL, in my opinion, is better about the design, functions, etc. Coin-Ads is good but doesn't offer many information.

About the user's vision, I think is much better CoinURL because you don't need to wait a lot of time to visit the link.
Coin-Ads pays more but you need to wait longer.

Which do I prefer? I use both :P

QoinPro - Easy way to earn some cryptocurrencies

Ever wanted to earn Bitcoins, LiteCoins, FedoraCoins, etc without doing ANYTHING?

Amazing site to earn a little of your favorite cryptocurrency! You earn 0.00000001125 BTC each day without doing anything.

But you learn more coins too. Nice website no?

FreeBitco.in - Nice way to earn your first Bitcoins

Freebitco.in is a great way to earn your first Bitcoins. You just register with your BTC address. Then you enter a captcha and you earn 0.00000461 BTC each hour (minimum, you can earn more!).

The key is the same as in all dice games: you have a client seed and the server generates another one (you cannot see it as it's hashed with SHA256). Then it gets the SHA of those with other number.

But anyway, you're here to earn Bitcoins! Just press ROLL button and start earning. This is the best way I saw to earn BTC for free (and also CoinAd).

How to generate a vanity address for any cryptocurrency?

Hello! Today I show how to generate your own custom/vanity Bitcoin, LiteCoin, DogeCoin, etc with the prefix you want.


Let's start with a small explaining.

For generating a custom address (for example 1SaMPLE2gbGu8HJv37hdwzreNuq7Vubksq) you need to bruteforce the private key. You have the public key (which is the address you want) but you don't know the private key.

The program we will use is VanityGen (download clicking it). VanityGen will use the CPU (or the GPU if you use other version) for bruteforcing it.

Once you downloaded it you need to use the commandline and put:

vanitygen.exe 1(Whatever you want)

Remember that in Bitcoin the adresses starts always with 1.

The difficulty depends of the number of chars it has after the 1. If it has 5 or more it's difficult to do that with CPU. Use GPU instead for that calculations (use oclvanitygen.exe instead for that).


Well but I want to generate it for LiteCoin, DogeCoin, or even RabbitCoin! No problem. First you need to get a sample address of your currency. Then go to
http://darkgamex.ch:2751/q/decode_address/ + HERE PUT THE WALLET.
For example: http://darkgamex.ch:2751/q/decode_address/DDfkpuHCCTRiUcQ7QqhoyowRebvmKDVdDe For DogeCoin.


You will see 1e at the beginning. Now convert it to Decimal: 30 (you can use this web).

Right! Now run vanitygen.exe with this commandline:

vanitygen.exe -X [HERE THE DECIMAL YOU GOT] [Prefix of the coin][AnyThing]

Practical Example: vanitygen.exe -X 30 DSample

For other coins it will be the same process.
Here I give some details for coins:

-DogeCoin: vanitygen.exe -X 30 D[YOUR VANITY]
-LiteCoin: vanitygen.exe -X 48 L[YOUR VANITY]
-DopeCoin: vanitygen.exe -X 8 4[YOUR VANITY]

Enjoy!

Why are there so many crypto-currencies?

Hmm. A good question. Litecoin, Dogecoin, SlothCoin, FlappyCoin, SpainCoin, etc etc etc... Many names!

The main reason is easy: Bitcoin is OPEN SOURCE!
This basicly means that anyone can copy, edit or do anything with it. A big error. Or not?

Making it open source you allow to fix some bugs and adding new features (like KGW) or changing it's algorithm from SHA256 to Scrypt or SHA3 (for example).

Another good thing about making it open source is that you give all the reason why you should use that currency: there are no hidden codes or cheats from Bitcoin's authors.


The bad thing of this: there are a lot of stupid coins. Many jokes and just copy-paste Litecoin clons. Some of them looks promising but most of them are useless.

What do you think?

Which crypto-currency do you use?

Which cryptocurrency do you use? Fill our poll and let's see which wins! If you use any other please comment here!!

42coin value is actually 1000BTC (more or less 562.400$ each!)

It's not a joke! Extremely rare and valuable coin has appeared! Just 42 coins to be mined but they're very difficult to mine. Just the best computers can solve that!

If you discover one of this you can say: "I'm rich" :P. All of those coins (when they get mined) are 23.620.800 $. Wow.
The bad part of mine this is the high difficulty. There aren't any living faucet as they all got dried when it got that price.

Is it profitable? The answer will be NO even if you have a great computer. You will need at least a server or a really powerful computer.

So sad we can't mine it (we can but it's like saying impossible).