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Showing posts from August, 2017

Bitcoin / Cryptocurrency – what is it and how can I benefit

What is it I started investigating Bitcoin when it was worth just over $1000 a bitcoin. I was interested in what it was and how it worked. A lot of people are saying we missed the boat, but I believe that everyone should at least try put a little money in now, or at least use a faucet (see below) to make a little micro-currency.

You can read a Wiki article about bitcoin and its history etc. But what you need to know is that it is a currency, that is independent of country. No one really knows who invented the concept of a cryptocurrency since the person who published the paper used a nom de plume.

All new cryptocurrencies work more or less the same way as Bitcoin. So as I explain below I interchange these terms. Bitcoin is the original cryptocurrency.
How Bitcoin works The currency releases a coin based on a mathematical formula. There will never be more than 21 million bitcoins (other cryptocurrencies do not work like this). Each bitcoin can have divided into one hundred millionth…