RocketShips

The price of Doge has gone to the moon! 

At Least for me! Recently I bought more Doge with bitcoin at 50 satoshi a dogecoin. It’s now around 80! This didn’t happen overnight though; the price dropped all the way down to 38 satashi a one point. The moral is good things happen to those who wait. In fact, if I had more Bitcoin, the best course of action would be to buy even more Doge at the 38 Satoshi Price. Emotion might give me the opposite response. From an emotional standpoint I might be tempted to sell my Doge to get out of it.


Now I have said my Doge has made me money, but that is not entirely true as I have not realized the earnings from it. And to be honest, I’m not sure how. In theory I could use an exchange to turn my Doge into USD to spend. But that would require lots of ID and a lot of personal information that I do not want to give. Another option is to buy things directly with Dogecoin, but I am not sure what I want right now. A third option is that I can trade my Doge for bitcoin and trade that for what I want to buy.

I wanted to emphasis my key point here: Trading, and life frankly, can be risky. But even if things don't look good, don't give up. Sometimes it takes time for a market to turn around.  Sometimes it may look like you have made a terrible mistake. And perhaps you have! But, if you have patience, you will be rewarded. Best of luck!

How to: Export & Import Private Keys

Possibly one of the more difficult cryptocurrency related tasks is importing a wallet with a private key. This video will show you how! Enjoy!

Feeless to some, the shortcoming of bitcoin for small transactions

Bitcoin is praised for having low transaction fees. But what if I told you that isn't always true? Well that is in fact the case; bitcoin can have quite large transaction fees!

I learned this much to my dismay when I sent BTC to my first exchange. I sent 4 dollars of BTC, from many faucet payouts, to the exchange. I incurred nearly 40 cents of fees!!

For example, most of my BTC comes from faucets, each  payment increases the number of inputs when I send my bitcoins. In two satoshi, my most read article, I said:

Just for fun I think this is how transaction fees work :

148*I + 34*O + 10

This answer is in bytes. “I” is the number of inputs and “O” is the number of outputs. There is also a one byte variation for addresses that start with 0x80

The transaction fee is for each KByte of the transaction, and 0.0001 BTC per KByte is the fee. Naturally the transaction size is rounded up to the next Kbyte.

Let's try the math! In my wallet I have about 70 inputs that make up about $3.96. 148*70+10+34*1= 10404 Bytes, which rounds to 11kb. 0.0001 btc *11kb =.0011 or about $.25

This calculation was done with current exchange rates so it is off a little bit. Also, since there is some change ( that is, the amount I sent doesn't add up perfectly to the amount I have received) I am also an input on the transaction

But fear not! Because, BTC can also have fee-less transactions! The transaction must consist of at least .01 BTC and can have no more that 50 inputs. Currently, there is not a program that will send you bitcoins in the most efficient way possible. I think this is a major flaw, not in the coin itself, but in the the infrastructure surrounding it.

Dogecoin on the other hand does not have this issue currently. A dogecoin transaction will generally cost 1 doge. The coins' coding to calculate the cost is the same. This being said, all of the transactions in doge I have personally dealt with have had a one doge transaction fee. So, for small transactions, doge has worked much better for me.

The best bitcoin explanation video

Getting a wallet!

Perhaps I have put the cart in front of the horse. Or maybe more accurately in this case I have put the glass over the faucet. But before you can use a faucet, you need to have a wallet!.

Not that kind of wallet silly! I mean a cryptocurrency wallet. Well how do you get one? It is easy! But before you dive in, you may want to consider a few things. First, there are different types of wallets for different purposes. The least space consuming is a light wallet, like these (http://multidoge.org/ , https://multibit.org/ ). This wallet simply skims the blockchain, rather that downloading the whole thing. As a result, it is faster to download and updates more quickly. I recommend this wallet for most users. It does have some drawbacks. For instance, if you are going to mine, you can not use this wallet. It will not be able to keep up with the number of transactions. Instead you should use a QT wallet. 

Such Wallet

A QT wallet downloads the whole block chain (http://dogecoin.com/ ,https://litecoin.org/ ). Many smaller coins only have QT wallets. This wallet is great for recieving tons of transactions. However, it is also growing all the time. As more transactions are processed, the blockchain grows. Each growth needs to be downloaded onto your local wallet. So, the wallet will take up more space. It also takes longer for it to sync to the network ( in other words, to download all the blocks since it was last updated).

Ode to Satoshi (the best Bitcoin song : )

I am not a fan of country music. But, this is perhaps the best bitcoin song I have heard. Enjoy!

The best way to get free bitcoin, dogecoin, litecoin, and earthcoin.

Before, I did some articles on various sites I use to get free cryptocurrency. Today, I'm going to put that list together to show my routine.

Up to once an hour, or whenever I feel like it, I use ( they pay about 15 doge/ 800-1000 Satoshi):

About once every two hours if I really want Doge, I use http://www.dogefaucet.com /. Its payout isn't nearly as good though.

If I really want earthcoin, I sometimes use this site. It has annoying pop ups, and it really doesn't pay much.

Every few days, I will use these sites:




Other sites of note:

Linkslap
Get 5 doge for each caption you approve or disapprove!

There is also  a bunch of labor sites on reddit! I might discuss them more later, but for now:

http://www.reddit.com/r/DoItForTheCoin/
http://www.reddit.com/r/dogeservice/
http://www.reddit.com/r/Jobs4Bitcoins/
http://www.reddit.com/r/jobs4dogecoins/