Should I invest in Bitcoin?

As some of you might know, I started a podcast! Well in this episode I talk about bitcoin. Check it out!

"WARNING: The Truth About Bitcoin"

There is so much hype about Bitcoin right now, even non-crypto people are talking about it. Well, here are some interesting thoughts, enjoy!

Bitcoin Gold

I finally decided to deal with some of my  Bitcoin Gold (BTG).

On a few of my exchanges/faucets I have been given some BTG due to the fork in late 2017. It is actually a bit complex. Here is a excerpt

When was Bitcoin Gold created?

Bitcoin Gold forked the Bitcoin blockchain as scheduled after block 491406 (2017-10-24 01:17:35 UTC).

The new Bitcoin Gold blockchain began actively growing at block 491407 (2017-11-12 at 13:34:01 UTC), about two weeks later.

During those two weeks, the community developed and tested the necessary changes to prevent accidental or malicious complications between Bitcoin and Bitcoin Gold (unique addressing and replay protection), as well as the changes necessary for Bitcoin Gold to run on a completely different network of miners (a change of algorithm to restrict ASIC mining and enable GPU mining).

Technically, Bitcoin Gold was created on 2017-10-24 but not usable until 2017-11-12.

Here is the website. But some of the advantages of it is it is Asic proof, “Replay protection”. Replay protection just helps ensure that transactions are sent on the correct blockchain. For example if you wanted to send classic bitcoin, replay protection ensures you don’t also send BTG in that same transaction. (more on it here). Overall, BTG doesn’t see that unique, lots of other coins are asic proof. The only reason it is noteworthy enough for me to write about is because I have some! I will also have to do a post of getting BCH from a software wallet, and possibly one on BTG.

And to do that, I need a new exchange, check them out here

If you are a fan of Cryptocurrency, you may also be libertarian leaning like me. If that is the case, you may be interested in apparel from The Mad Statist, check out this awesome “MAKE TAXATION THEFT AGAIN” shirt out here!

Coinhive closes

As you may know, I have tried numerous ways to monetize my blog and to make money via cryptocurrency. Well, it looks like another of those ways is shutting down. Coinhive was a service that offered proof of work and would pay the site owner in exchange. To summarize shortly, you could install a proof of work check on your website. As site visitors clicked the proof of work, Coinhive would mine cryptocurrency on the computers of visitors and you, the site owner would get the benefit. This had the dual benefit or removing bots and generating some income for you.  It really was an innovative idea and it is sad to see it go.

Here is some of the official blog post.

Blog » Discontinuation of Coinhive

Some of you might have anticipated this, some of you will be surprised. The decision has been made. We will discontinue our service on March 8, 2019. It has been a blast working on this project over the past 18 months, but to be completely honest, it isn’t economically viable anymore.

The drop in hash rate (over 50%) after the last Monero hard fork hit us hard. So did the “crash“ of the cryptocurrency market with the value of XMR depreciating over 85% within a year. This and the announced hard fork and algorithm update of the Monero network on March 9 has lead us to the conclusion that we need to discontinue Coinhive.

Thus, mining will not be operable anymore after March 8, 2019. Your dashboards will still be accessible until April 30, 2019 so you will be able to initiate your payouts if your balance is above the minimum payout threshold.

Thank you all for the great time we had together.

posted on February 26, 2019, the Coinhive Team

As always, I’m running quite a bit behind. I sometimes worry about some of the larger trends in cryptocurrency. That good ideas come and fail and that the golden age of crypto is behind us. I don’t think that is really true, but sometimes I worry about it. I remember some earlier times in Crypto, like when linkslap was around,  which would pay you in doge to evaluate the descriptions of gifs. I hope we see some new methods to generate crypto in the future. I need new material for a new edition of my book!

Also, as you may have noticed, I have added a sign up option on the top of the page. Please consider signing up! If there is enough interest, I may host a giveaway to promote the sign up feature.

If you are a fan of Cryptocurrency, you may also be libertarian leaning like me. If that is the case, you may be interested in apparel from The Mad Statist, check out this awesome “MAKE TAXATION THEFT AGAIN” shirt out here!