"sendo litoshi to bitcoin account"

Using some of my blog analytics I noticed someone found my blog using the phrase “sendo litoshi to bitcoin account”. I was quite baffled by this. What does sendo even mean ( By the way, litoshi is like a satoshi, but for bitcoin, in other words, its 0.00000001 of a litecoin)? So I decided to google it and attempt to find my blog. I didn’t find it, instead I found another blog on blogspot. So I clicked on that, perhaps creating or perpetuating some kind of cycle.

The blog is kind of similar to my own, except it's in Portuguese and it reads like one massive post.


Anyways, for a quick plug, I have updated my faucets page and support me page! Check them out, they have some nice ways to help me make money and ways for you to make some money as well.

Months late and a few dollars short.

You might think blogging about cryptocurrency is all fun and games. Well, that's not always the case. I have lost some money in the past, but I may have lost some more again.

One of my loans on btcpop may default.  It is now quite a few days late. I had one loan that was about 3 or 4 days late, but this one is now 5 days late and the borrower hasn’t been heard from in a few days. Fortunately, I never lend much money out to one person at one time. I diversify my loans over time and over people. This way, if one person defaults, which may be the case, it's not the end of the world. I have other loans that will probably be repaid and I will come out ok. I also diversify over time, I don't make many loans at once. This way, if the P2P bitcoin loans industry hits a problem, I don't lose all my money either.

In addition to being a few bucks short, I am behind the times on my cryptocurrency news. Ethereum is apparently the number two coin in terms of market cap ($ 971,423,765 as of the time of this article). I heard about it quite a while ago, but I didn’t think that it would really grow into what it became. I was wrong. It did become something big, and now I will probably have to report on it. Ethereum is quite different from bitcoin in a few ways. One, it is not merely a digital currency. Ethereum is primarily like a digital computer; it enables people to create contracts that execute code under certain conditions. Ethereum also differs technically from bitcoin. In addition, Ethereum had a substantial premine.

More information is available here. This is a bitcoin site I recently started to follow.

Not that kind of hash

A few weeks ago I saw an ad on freebitco.in for another ponzi scheme/ bitcoin multiplier, this one was called cryptotriplex. I wondered to myself, does anyone fall for these still? So I clicked it.

And that is what I saw. It looks like they ran off with everyone money.

This isn't uncommon. It also happened recently with a website called hash ocean. Immediately after reading the name, I thought of hash profit and thought it must be a similar scam. I was interested enough to study it for a bit. I attempted to go to the site but the website didn't load; it was offline. It looks like essentially the same scam happened again, just with a slightly different name. I thought it was interesting that the site did advertise an actual physical location in San Francisco. However now that I think about it, San Francisco isn't an ideal place for a bitcoin mine.  Everything is way to expensive particularly space. It is funny, I visited the city just a day before reading about this, maybe I could have gone to the abandoned location if I knew.  Anyways, I would say don't trust any cloud miners without a lot of due diligence, and may not even then. But I would especially avoid anything with hash in the name. Based on the smells in San Fran, there is a lot of it there. And it almost goes without saying, stay away from money multipliers.

Bitcoin hits $700! (I actually spent some of my bitcoin!)

The price of bitcoin has been going crazy. Bitcoin is now at a 2-year high. I speculate some of this has to do the the upcoming halving.  You can read some of my thoughts on a old article I wrote for Coinbuzz. I might talk about about this and some of my experience writing for Coinbuzz in another post.

Anyway, with this huge upward price movement. I may have made a mistake. I didn’t anticipate the price of bitcoin to continue to rise so much, Earlier this week I made my first purchase with bitcoin ever! I used egift to buy an Amazon gift card, (I love shopping on Amazon!). I have a video on how to do it yourself at the bottom of the post.

Performing the transaction I experienced:

Fees	0.0007 BTC

Which was  ( at the time) about 40 cents of fees. This fee might seem high to you, but it is the result of receiving bitcoin in many small transactions.  A Lot of the bitcoin I have received is from faucets, and when you finally spend it, the transactions fees can be a bit high. Each source of btc counts as an input, which is one of the factors used in determining transactions fees. If you are interested, I talk about this more here.

As I continued and finished the transaction I noticed, it looks like Coinbase provides this service for egifter, so I don’t know if egifter even holds on to any of the bitcoin. Initially, I recommended spending some of your bitcoins right now if you have any, but I am no longer certain what the future holds for the price of bitcoin.

Big Tuna

I have just hit 10,000 views!  I mentioned this to my mother and she was astounded. But really it's not that big of an accomplishment.

In other news, it looks like the price of bitcoin has increased dramatically over the past few days. In my memory it has been awhile since bitcoin has broken $500. Let's see what happens, but it might be time to spend some of those bitcoin now! And I just learned a great way to do this...

Some of my friends when I talk to them about bitcoin are convinced bitcoin is used exclusively to buy drugs or other illicit things. “It’s just for buying pot” one friend would say. I would joke, no lol, that is what potcoin is for.  And I would elaborate that bitcoin isn’t just for drugs. You can buy anything with bitcoin. Anything. Like literally you can by tuna online with bitcoin, here is the link. Isn’t that something.

Faucets in trouble?

Recently my favorite faucets have been changing their payment amounts and not just in the normal pegged to a USD value type of way. During the past two weeks, https://freebitco.in and https://freedoge.co.in were giving out the smallest earnings I have ever seen. In the recent past, the smallest payout has been equal to the highest payout divided by 100,000 times 2. Prior to this, the smallest payout was equal to the highest payout divided by 100,000. But during these past two weeks, the smallest payout is the highest payout divided by 142,875. The highest payout is pegged to a USD value, which is $200 for both sites.

https://freebitco.in  has just returned to normal payouts (twice at base level) and   https://freedoge.co.in  is giving 100,000th of the highest payout.

Another blogger has given some analysis on why his own faucet is struggling.

The article discussed how google adsense is no longer allowing faucets to have ads on them. Perhaps some of these faucets are feeling the pressure. In fact, I speculate this is why

http://bitcoinzebra.com is for sale now.

Still, here is a faucet tip:

Bookmark all your faucets with the same interval for redemption into one folder on chrome or firefox. Then right click that folder and open them all at once.  For example, all of my one hour faucets are in a one hour folder. I also have a moon folder for my variable time faucets. You can see my faucet list here.

Happy Belated Birthday Liberland

Liberland recently had its one year anniversary. My Editor decided to go on strike, so I am just releasing the post on it now.

Liberland is located on an unclaimed area in between Serbia and Croatia. As you may know, Serbia and Croatia disagree on the border between their two countries. Border disputes are quite common when a river is used as a boundary. Rivers have a tendency to move over time, often resulting in one country preferring the new boundary with the other claiming the old boundary (This is particularly common as winding rivers become more straight, resulting in oxbow lakes and areas of land that were once on the opposite side of the river). The border between Serbia and Croatia is no different with the windy Danube river dividing them.

Liberland has plans to release its own cryptocurrency, which will be called the merit. The merits will be awarded to those who perform services for the country, hence the name. The nation seems quite aligned with libertarian values. Its citizenship is quite expensive; it will cost 10,000 merits, which is to be initially pegged to the USD 1:1. Liberland seems reminiscent of REPUBLIC VENETA  which I wrote about in a past post.