How to earn Bitcoins is a popular search term these days. Bitcoin, the world’s first and most popular digital currency started in 2009, maybe that’s why. In just over a decade, it has gone from being an obscure topic in geeky forums to a mainstream discussion. As with any new technology or financial instrument, the…
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A protocol is a set of rules. It describes the proper protocol for certain actions and behaviors. David Johnston, the Governor General of Canada, broke protocol when he touched Queen Elizabeth II on the steps of Canada House on Trafalgar Square in London. The Queen was 91 years old at the time and the Governor…
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Imitation is the sincerest form of flattery. Since the success of bitcoin, other cryptocurrencies have emerged. Here in December, 2021 we’ve seen some different names near the top than we have in years past. At the end of 2021, these are the top five contenders, according to Forbes. Ethereum (ETH) Market cap: Over $557 billion…
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Fiat money is money that a government declares is legal tender. Fiat refers to the government order. It’s from the Latin, like so many of our legal words, and it means “let it be done.” The government looks at the notion that paper bills can be legal tender, and says, “let it be done.” Gold-backed…
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A bitcoin wallet is software that connects you to the bitcoin network. This is the first step in acquiring bitcoin. You know how it is when you send someone an email. You have to have an email address, a password, and a way of connecting to the network. It can be webmail or a program…
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Earning Free Bitcoins When you search for free Bitcoins, you are overwhelmed with offers to start earning Bitcoin. Most of these offers suggest visiting websites or playing online games. In fact, a lot of offers are even suggesting that you start Bitcoin mining. After all, everyone will tell you that Bitcoin miners get great payouts.…
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The size of the bitcoin block has bothered a number of developers, miners, and others involved in the popular cryptocurrency. It seems that the limit of 1 megabyte as the block size means that only 7 transactions can be handled in one second. Because of the number of transactions increasing, this can cause the system…
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We learn from our mistakes. In the world of bitcoin, there have been some real doozies of mistakes. Anyone who has ever lost or misplaced a password can relate to the common problem of bitcoin owners who have lost their private key. There is no second chance of recovering from this blunder. This is why…
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The images on the internet show bitcoin mining in a form reminiscent of the old gold rush miners, pickaxes digging out the gold. The actual mining is not quite like that and it changes over time. Bitcoin miners are a special necessity in the bitcoin network. When a bitcoin is spent, a transaction occurs. Your…
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Forking is when the basic protocol of bitcoin has been changed and suddenly the blockchain splits. There is a fork in the road. One of the limitations of bitcoin that seems to plague many users is the size cap on the block. One megabyte seems to be too small to make sense. In 2010, it…
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