Still time to jump on the rocketship

I've made posts like this before, but Bitcoin's price is a bit crazy right now.

If you bought may book a few weeks ago, you would have had gotten a 43% return on your bitcoin holdings! Wow! (This is using CoinDesk BPI as of the official launch date compared to today).There is still time to jump into the arena, check it out on Amazon or Payhip.

Litecoin has made some big upward price movements too. This is probably due to segwit being activated. Thus resolving any uncertainty and improving the usefulness of the coin. Perhaps we might see similar results if BTC did that as well. But it's not just BTC and LTC that are big winners, lots of coins are going up. Nyan is the only coin in my holdings that hasn't gone way up.

Who knows what the future will bring. Either way, it might be a good idea to acquire some of your own Bitcoin. Not buying it necessarily, read my book to learn more.

Basic Crypto Guide

1. Before you can use any cryptocurrency, you need to pick a wallet to use.

What type of wallet you want depends on what you want to use it for. If you intend on mining, stop and reconsider because you probably can’t make any money. But if you want to anyways, you need a full wallet. Otherwise, a light wallet is probably all you need.

Turns out this site is better at explaining this than me.

But for other cyrptocurrencies, check out these sites:

Litecoin

Dogecoin

2. Install the wallet and then back it up.

Obviously you need to install the wallet in order to use it.

Once your wallet is installed, the first thing you need to do is backup your wallet. I can’t stress this enough. You NEED to backup your wallet. I have not neglected to backup my wallet before, and I have lost coins. Don’t be like me. Backup your wallet first thing.

There are a few ways to do this. Personally, I use google drive. But you don't want your wallets just sitting in google drive vulnerable to theft. My wallets are encrypted using 7-zip. 7-zip is like Winrar but better and free. When you install a wallet, it will place a .dat or .wallet file on your hard drive. The file extension will be in your roaming folder. For example, the file path for a dogecoin wallet might be something like this: C:\Users\[username]\AppData\Roaming\Dogecoin . The roaming folder is often hidden, so you might need to turn on "show hidden folders" under your system setting for your computer. Grab the .dat or .wallet files you want to back up and put them in 7-zip file and set a password. Personally, I would also save this password using a system like keepass. Lastly, upload your 7-zip to google drive or dropbox.

3. Test the wallet

Now let's test your wallet. Here is how you can try it. You can use a faucet to get small amount of cryptocurrency for free.

View 3 more here

Price increase increases adoption?

Litecoin has been in the spotlight recently because of its rapid price changes, trading at almost 9 dollars coin july 8th and 9th. This has been a high since the 80 dollar days bitcoin was in the thousands.

I think this increase in price has increased interest in cryptocurrencies. I speculate as “interesting” movements happen in the price of cryptocurrecny, more people become interested in them.  This means more vendors will accept the coin and more people may use it.For example, some Adult content sites are even adopting litecoin in addition to bitcoin. You can even buy handcrafted goods for litcoin! Like here on esty!

Last Year this week:

Last Year this week I posted by defeat to Kelso in making this blog. The post is available here. For more details of the story you can start with my first blog post. At this time my blog wasn't even about bitcoins and cryptocurrency yet. On my second post I started to talk about bitcoin, and from there, the rest is history. The contest was measured in terms of page views, who ever had the most page-views at the end won. I think at the time I had something like 1,000 page views, and Keslo had 2,000. Its interesting now that I have closer to 5,000 whereas last I checked he had more like 3,000.