Bitcoin Blog a1

Thursday, November 20, 2014

Hitler and the end of the Bitcoin

As many of you know bitcoin uses cryptography to protect and exchange itself. Cryptography is an age old practice where ciphers would be used to conceal the meaning of text. Bitcoins in a similar but much more sophisticated way, use public and private keys to encrypt and decrypt transactions. I thought I would share a particularly interesting video about cryptography that combines math, everyones favorites subject, with something people like even more…. Nazis!
I uncovered another interesting youtube video yesterday that showed that very well may be the demise of bitcoins. Well, also the demise of all financial institutions as we known them. And that is quantum computing. Currently, to decrypt a bitcoin wallet is simply impossible. The number of combinations to a private address is so many to solve one with current technology would take more than a lifetime. With quantum computing that may not be the case.

Wednesday, November 12, 2014

Not all that glitters is crypto

What is better than digital currency? Precious metals with images of digital currency engraven on them( Bitcoin to be exact)! That’s right, I just ordered my first bullion coin.

Now, comparing the market prices of metals I soon realized that the price of copper is about 20 cents an ounce, so I overpaid by a dollar or so :/.  There is a whole section of ebay for these coins, they seem to be quite a bit of fun. They also make them in silver, and from this chart it seems now is probably the time to buy

On another note my Multibit Doge wallet is less than functional. Which is to say, it isn’t working D:. So I now have the full version of the wallet on my portable hard drive, which does in fact seem to work. Sadly, all of my coins were not returned to me with my repaired tablet, thus I am more or less Dogeless :(. Well, you win some you lose some…

Much Sorrow. Very Regret.

Sunday, November 9, 2014

Gold, Silver, Copper and… Zinc?

It is known, Bitcoins are the Gold of cryptocurrencies, the most prized of them all, with Litecoins being perhaps second as Silver. It has been added that Dogecoins are the copper of the cryptocurrency world. Today, I want to add another metal and digital coin to that list, the Earthcoin. Zinc is perhaps one of the cheapest metals used in coin making, it currently is worth about a dollar a pound ( with copper trading at 3 times as much). Likewise Dogecoin is worth about 0.0002167 cents and eathcoin is worth  0.000007 wich is nearly 31 times smaller. Perhaps the ratio is a little off then. Earthcoin, or Doge for that matter, may not be truly unique in regards to their value in proportion to bitcoin, it is other aspects I think that give unique meaning to both of these coins.

Now, before I use any cryptocurrency, I always check for a faucet ( or water bowl :P [nickname for a Dogecoin faucet]) and Earthcoin was no exception.  Here is the best facuet by far:
I already got a 25 coin payout from one catcha, which is over 100 times better than some of the other sites I have looked at. Well Enjoy! Save the earth or something! I'm not entirely sure what this coin is all about yet!