Page update

I have a new page I am trying out, my Portfolio. I decided to make it a page rather than a post, and update it from time to time. So click here http://btcplus.blogspot.com/p/my-portfolio.html to see what I am currently invested in. Or just click the My Portfolio button on the side ->

Tell me what you think and enjoy!

Bitcoinless

After blogging about bitcoins for over a year, I have now done... the unthinkable.
I have, for the very first time, sent bitcoins... all of them....
That's right, I have basically emptied both my wallets.
Don't worry, its not forever! I just am using an exchange for the first time. Cryptsy in fact. Here is a referral link, although I am not sure  what it does...

I was actually a bit surprised at the transaction fees I paid to transfer my bitcoins. It was something like 40 cents in total, and I only transferred 4 dollars. I talk about low transaction fees all the time as a perk of bitcoin,so I must have done something wrong... ( as I mentioned before, the formula for transaction fee is a bit complex)


In other news a bill regarding bitcoin passed in Utah.  One of the most interesting idea of the article reads, "[The bill]... will allow the residents to pay their taxes in Bitcoin." Paying your state taxes in bitcoin is now a thing! At least in Utah that is.


Well the adventure will continue tomorrow as I explore my first exchange!

To the Moon!

Welcome aboard the rocket ship because we are going to the moon!

of faucets!

I discovered some new faucets  worthy of note!

Naturally doge coin is a perfect candidate for moon-bound adventures, after all  the shibes do say, "To the Moon!"




The next one is less expected, but still common, a moon bitcoin faucet.



This last site was an surprise to me. I have not seen basically any litecoin faucets prior to this, and now I might use it for the first time.





So I am quite a bit late to the party, but I may look into litecoins for the first time. Certainly I followed them before price wise. But now I might own some. Click my clicks and make an account if you would like! You will feed a poor hungry student. It also is a nice faucet as you can just sign up and leave it, forget it for a while, and then claim all at once and get a pretty good claim as far as faucets go.


Also here is a video for fun. It is much like bitcoin, so this might be a review.

Nyan explosion

I have found an amazing cryptocurrency. As I mentioned before in prior posts I enjoy having dogecoin, but is there a coin out there for cat lovers? Well the answer is yes! Nyancoin!

(Here is Nyan Cat just for reference)

Everyone loves Nyan cat! Although, perhaps it is not quite as quotable as doge ( when I try to quote Nyan cat it normally ends in just an incomprehensible series of meows, which attempt to follow the pattern of the video), nyancoin seems as fun-loving as dogecoin. The reddit for it is here, and has been stirring lately in activity. Much thanks to one user in particular, coinaday.

The technical specs for the coin are as follows (source):

SPECS:

Algorithm: Scrypt

337 000 000 Coins

337 coins per block

1% premine for bounties, giveaways & dev support (not 10%!)

1 Minute Blocks

Subsidy halves in 500k blocks

Difficulty Retarget Time: 3 hours

RPC port 33700

P2P port 33701

Note, it does have a small premine, which I feel isn't a huge deal it is the price of active developers. That is to say, nyancoin does have an active development team! This is something not all coins can claim.

Edit: Coinaday offered some clarification on the premine, "the 1% premine was spent in faucets long ago from what I heard from a random comment in this sub. I know nothing about it. I've spent almost 1% myself by now in giveaways. The premine doesn't pay for current development."

Bitcoin Bill?

Marc K. Roberts of the Utah House of Representatives may be a bitcoin advocate!

I noticed on the internet that in Mr. Roberts has proposed a bill on… bitcoins! Wow! I may have implied in my first post that Utah, where I now live) perhaps isn’t the most interesting place in the world, but this this seems to disprove that! ( at least to a certain extent).

As I began to read the bill I noticed while it was written in English, it seems to use words and phrases differently than one might expect. I looked further online to see that there is certain wordage used for effective resolution making. The site I used asserts this as governance 101. I will reference this site again as it gives clarification.

One on the reasons cited for the adoption of bitcoin as a form of payment is that “... the state could be a key player in promoting the use of bitcoin.” Here below is that statement with more context:

NOW, THEREFORE, BE IT RESOLVED that the Legislature of the state of Utah, and

43     the Governor concurring therein, recognizes the potential benefits that could come from the

44     expanded use of bitcoin in the state and recognizes that the state could be a key player in

45     promoting the use of bitcoin.

(Emphasis added)

To clarify, the all capital letters preceding some sentences are identifiers. The previously mentioned site explains The THEREFORE BE IT RESOLVED statement:

• This is the punchline. It is the action being taken. You should state EXACTLY what is to be voted upon….

THEREFORE, it would seem that Mr. Roberts is saying that one of the two primary reasons the state should adopt bitcoin is to further its acceptance. I also found some of his reasoning interesting, mainly his statements “ the state must remain open to new technologies” and “bitcoin is based on the principles of free-market capitalism and is not  centrally regulated.”

While this is a very interesting position, I think there are also some huge ramifications from this decision, and should it be excepted, I think there may be some constitutional issues, but that is an article for another day, stay tuned!

Also if you want to read the bill.

Earth revisited

The earthcoin subreddit has been buzzing! (relatively speaking that is)

One of the posts is this article.This article by no means is new, but it has been reposted, and I thought in light of current events the perspective of this article needs to be updated. In the article, hazzard asserts that earthcoin should be avoided due to its 2% premine and because its cyclical variations in block rewards allowed it to be instamined as well. The earthcoin development team,however, has abandoned the coin, either first selling their coins or allowing them to simply sit idle. Thus, it is likely those pre and instamined coins impact has already been felt and will not impact the coin further. I would assert, either way it doesn't matter all that much, with earthcoin trading at $0.000011 USD  that premine comes out to  a whooping $2970, so all things considered, it is not much. Maybe that is why the development team left :P.Perhaps if the coin drastically increased in price it could theoretically be a concern.

Also around the same time a link to a earthcoin “game” was posted. This however was not a game at all, but rather a ponzi scheme. I reported the post and I don’t see it up anymore.

I don’t think I gave eathcoin specs last time, but here are some ( from http://getearthcoin.com/technical-specifications):

Other Specifications:

• 60 seconds block target
• Diff retargets each block
• Total coins will be 13.5 billion coins
• 5 confirmations for transaction
• 50 confirmations for minted blocks
• Support transaction message
• Normal block on average 10000 coins per block, varies seasonly
• The block payout will be halved every year, minimum payout 1 coin per block
• The default ports are 15677 (Connect) and 15678 (RPC)

Note: Earthcoin uses a Scrypt mining algorithm

Thanks for reading, and remember, To the Earth!

Bill Gates Loves Dogecoin (but not really)

So I ran into this video on Reddit and I thought it was worth sharing:
 

Sometimes I think some shibes are a little eager to have dogecoin be in the spotlight :P. Here is the real video though.