Category Bitcoin

How can I buy Bitcoins?

In Bitcoin we trust?

There is a lot of information on the Internet about where and how you can buy Bitcoins. The problem is, a lot of that information isn’t up to date. It also isn’t obvious that the current markets for exchanging Bitcoin are less convenient and subject to more fees than traditional domestic banking markets. There are tradeoffs in how you proceed, but the good news is market friction is constantly being reduced.

Update for 2014:

A lot has changed in six months, today the best place to get Bitcoins in the US is from Coinbase in my opinion. Converting currency is a flat 1% service fee. Continue reading to see the landscape from a few short months ago.

Cryptxchange no longer exists…

If you want Bitcoin fast, you can use Crypto X Change...

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Bitcoin History

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Bitcoin has a history shrouded in mystery which is appropriate considering the anonymity it provides. The original concept of Bitcoin came from a figure only known as Satoshi Nakamoto. Supposedly this figure provided much of the original software and technical guidance, then vanished and hasn’t been found since. Wikipedia suggests there is circumstantial evidence linking Satoshi Nakamoto patents with individuals who created the bitcoin.org domain. It is also suggested Satoshi Nakamoto is a famous Japanese mathematician.

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Whatever the answer may be, the first Bitcoins were mined on January 3rd 2009 which released the first ...

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How can I earn Bitcoins, what is mining Bitcoins?

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Bitcoin is a cryptocurrency which can be used for payment of goods and services. Part of the reason Bitcoin exists, is due to the voluntary computer systems out on the Internet running the program that supports the Bitcoin network. These voluntary computer systems are often called “miners” in the Bitcoin community. Miners do the calculations to ensure payments are only able to be spent once, and they update the master ledger or “block record” with transaction data. There is also a slim chance these miners can get free Bitcoins – which is the motivation to join and support the network.

The History of mining Bitcoins

In the beginning, computer CPUs powered the Bitcoin network...

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What is Bitcoin?

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About a week ago, the FBI shut down the Silk Road site, which was a hub for nefarious and illegal activity. I had never visited the site which requires the anonymity enhancing TOR browser, but the news article mentioned something that sparked my interest, “millions in Bitcoins seized.” Was that a lot? What is Bitcoin and what are they worth anyway? Then I saw another article that showed a picture of Bitcoins in hard currency form – were Bitcoins minted somewhere? My curiosity was peaked and I’ve spent about a week learning more about this fascinating, experimental, cyber currency.

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I took a few hacks at it, but the best de...

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