Bitcoin Blog a1

Thursday, April 30, 2015

In the Exchange ( buying Dogecoin or Bitcoin or whatever!)



On the exchange you have a sidebar with the different markets. Cryptsy has so many markets its confusing. Let's say you want to look at the dogecoin market, you have quite a few options. First you can look under USD and find USD/DOGE and exchange doge for real money. Note, you will need a verified account for this.

You also can look under BTC and find the BTC/DOGE exchange.

 

Here the price is denoted in satoshi with 44 satoshi being the price to buy doge at and 43 being the price to sell doge at.


This is a very active market and there is no price gap. You can also trade litecoin for doge in the LTC/DOGE market. This is a comparatively less volume market. It also features a generally larger price gap. The price here is listed in litoshi ( i.e., satoshi for litecoin).


One thing to remember is your order doesn't need to be at the current price. You can put any price into your order. But if the price is too high, you won’t sell it right away ( or maybe even ever).

Saturday, April 25, 2015

To the exchange!

In order to go far with any Cryptocurrency, you need a way of buying and selling it. For most of us, this means it's time to go off to the exchange! One of the most popular exchanges is Cryptsy! This is my referral link. Based on your volume of trade, you give Cryptsy points to your referrer. If you have enough points, you can enter drawings for hardware and goodies! Or if you don’t, you can trade it for straight up bitcoins!


Now, I just use the crypto to crypto markets. In other words, I don’t deal in US dollars. To trade in USD you need to have ID, SSN and all sorts of personal information I frankly don’t want to give.


The best part is, making your account is totally free. The exchange takes a modest .27% fee for transactions. If you compare this to typical costs for stocks and other somewhat comparable examples, it is a steal!


Bigger, however, is not always best! Other exchanges are arguably better. https://poloniex.com/ for instance has lower trading fees.  Currently, it looks like it is .2%. Some users assert the interface is much nicer too.


The last feature I wanted to look at on Cryptsy was Trade keys. With a trade key you can send other exchange users any time of currency with no fees and it requires no confirmations. For example my trade key is: 05f8991eb7ce90a2c059f215b079c0402c0e5282 .


Well that is what an exchange is! Next post, I will talk about using the exchange to trade!

Friday, April 10, 2015

Dogecoin music. Music for shibes!

Here is the latest Dogecoin related videos I have found!
To the moon!
    

Also noteworthy:

Wednesday, April 1, 2015

Triangles are my favorite shape

I would advise you to scroll to the bottom of this article and listen to some Alt-J as you read this.

I have found a new cryptocurrency to add to my collection! Generally when we think of coins, we think of circles. However, the best coins are not circles at all; rather, they are another shape: Triangles!

The Technical details of this new coin ( and by new, I mean new to me) are:

X13 PoS over TOR
- now with secure messaging -
coins in circulation: ~50.000 TRI
total coin cap: 120.000 TRI
confirmations: 4
annual PoS interest: 33%
minimum stake age: 1 hour
maximum stake age: 12 hours
maturity: 7 blocks
block target interval: 120 seconds
No ICO, no premine, no scam!
Source

Well what does all this mean though?


Well, let me tell you. So I was sitting on my wallet, when suddenly a transaction appeared for .006 TRI. Immediately I wondered what is was, as I hadn't expected any money to come in. I looked a little closed on my wallet and was it was from “mining”. But this only left me more confused as I hadn't mined anything… or did I?

I inquired about this on Reddit and learned, that as you keep your wallet open, you get an “ annual PoS interest: 33%” which in other words means the balance in your TRI wallet increases by 33% a year if it is open. This seems like a relatively fair way to add new coins. Naturally things get lost. In a way, its almost like a stock dividend. There is new shares, or coins produced. But the percent ownership doesn't change.

The subreddit is small than other Cryptos, but is here if you are interested. They seem to have some interesting plans for the coin there, including getting on Cryptsy. So, lets Tessellate.