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Do you ever wonder where you can get free bitcoins from? Let’s make this clear, you cannot become rich overnight, everything requires dedication and hard work.

Here is how you can earn bitcoins in 8 different ways:

  1. Accepting them as a means of payment
  2. By completing tasks on websites
  3. From interest payments
  4. By mining
  5. By receiving tips
  6. Through trading
  7. A regular source of income
  8. Gambling

Earn Bitcoins by Accepting Them as a Payment:

It is so easy and quick to earn bitcoins by selling goods and services. All you have to do is enlist your shop or business and let the bitcoins roll in as buyers start appearing. Just follow these simple steps:

  • Get a free online Bitcoin wallet from Coinbase. Be sure to keep an eye on your bitcoins frequently to avoid any hacking issues.
  • QR code should be displayed with your bitcoin wallet address next to your cash register.
  • The entrance of shop should display the “Bitcoin accepted here” logo.

Earn Free Bitcoins By Completing Tasks on Websites:

Another way to get bitcoins is visiting bitcoin-related sites and carrying out small tasks on the web. These tasks include watching a video or an ad, playing a game or taking a survey. Here is a list of some of the sites that offer bitcoins for free:

  • BitVisitor: Requires you to log onto websites and watch videos. Each page appears for five minutes and then you proceed to the next. Fortunately, the payment procedure completes within an hour and you don’t even need to create a user account, just your Bitcoin address. Though, the number of bitcoins you earn may vary.
  • CoinWorker: Let’s you earn bitcoins by completing tasks. You must create an account here. Also, payouts are usually higher on here than most sites.
  • Bitfortip: Answer questions on forums and earn bitcoins. This service is a benefit for both newbie and experienced users of Bitcoin as it brings people together. Newbies can ask their questions and the experienced can answer them while receiving rewards in Bitcoin.

These are not methods to make you rich in a day, but ways to make you more familiar with the currency.

Earn Bitcoins From Interest Payments:

You can earn bitcoins through interest payments by lending your Bitcoin assets. It is a good way to make bitcoins from what you already have.

  • Lending directly: This when you lend out your bitcoins to someone you personally know and have assessed. You get to decide whether the borrower is trustworthy or not.
  • Peer-to-peer bitcoin lending websites: Sites such as Bitbond have listings of borrowers publishing funding requests to which you can contribute to their loan. The concept behind this is the same as for fiat currency loans. The borrower gets a certain amount over a specific period of time and repays the amount with interest. However, make sure that both the site and borrower are trustworthy.
  • Bitcoin banking: Place your bitcoins as a deposit with a site that pays you a fixed interest rate on these deposits. The good thing is you don’t need to diversify your bitcoins over many borrowers. In this banking model, you just need to trust one single browser, which is the bank.

Remember, always lend through sites you trust, because even fraudulent sites comply with the usual requirements that are present on legit sites.

Earn Bitcoins by Mining:

Mining is a process which generates new bitcoins. During mining, your computer adds new confirmed transactions to the blockchain and searches for new blocks. A block is a file that has the most recent Bitcoin transactions recorded in it when a new block is discovered, you receive a certain number of bitcoins. However, if you want to earn bitcoin by mining, know that it’s a time-consuming and costly process.

Earn Bitcoins by Receiving Tips:

One of the best ways to earn Bitcoin fast. It is pretty much like accepting Bitcoin as a means of payment. All you need is a wallet, a QR-code with your Bitcoin address on it and the people who can give you a tip. A simpler option for this would be your own shop. Simply display the QR-code and check each day what came in. Another cool way to get online tips is using Bitfortip which we have already mentioned above. This service allows you to get tipped in bitcoin as the name already says.

Earn Bitcoins Through Trading:

Arbitrage is the safest and most convenient way to make money with trading. Basically, this means that you buy an asset for a certain price and sell it immediately for a much higher price at another destination. Price differences between exchanges often occur for certain reasons.

The other way to earn Bitcoins from trading is simple speculation. In this case, you would buy bitcoins, wait until the price increases, then sell it for a fiat currency. When the price drops again, you buy more bitcoins and start all over again.

Earn Bitcoins as a Regular Income:

There aren’t many organizations that would be ready to pay you in bitcoins, but there are some and maybe there will be more acceptance towards this in the future. Apart from being employed by some company, you have the option of working from home for others as well. Here are some sites offering jobs and where you can post a job yourself. It is a very convenient way of working and many jobs can be completed from home.

  • Bitcointalk Forum Services Section-  Offers job listings that are paid in Bitcoins.
  • Jobs 4 Bitcoins- Has a focus on job offers for programmers on reddit.
  • BitGigs- Online job board with a variety of job offers. Do give it a look.
  • Coinality- Has a different approach, it locates the jobs around you by displaying them on a map. It comes in very handy if you are interested in locating a job somewhere near you.
  • XBTFreelancer- Another job site for gigs that are mostly software based. If you have programming or other IT related skills it is the place for you to earn Bitcoins with your expertise.
  • bitWAGE- Lets you find jobs that pay in bitcoin. It also lets you invoice your USA, EU, or UK employer or client in different currencies including bitcoin. This means that you can earn bitcoins from your regular job.

Earn Bitcoins From Gambling:

Online bitcoin gambling can come in a variety of forms. Casino games with live dealers and video slots, dice sites, sports betting, and poker are the most popular forms of bitcoin gambling currently available. Many casinos offer welcome bonuses for new and existing players, usually doubling your first bitcoin deposit on their site.

There are many sites available for bitcoin gambling, each with their own games, bonuses, jackpots, and prizes such as Bitcoin Casinos, Bitcoin Poker, Bitcoin Dice etc.

As you can see, cryptocurrencies are now demanded by everyone. While you do have to invest a certain amount of time to get rewarded, it is still a learning experience for those new to the digital currency community.

Those who want to just skip all these steps, simply want to buy Bitcoin and are wondering where to buy bitcoin, CoinBase, CoinMama, and CoinPanda are some of the most reliable exchanges to buy Bitcoin. Good luck with the purchase!

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Bitcoin Mining – An Italian Bank’s Server Was Hijacked

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That was the time when you had the option to snip your company’s server power and mine bitcoin for yourself.

British cyber security

During last week presentation, British cyber security professionals had some discussion to tell about the sneaky and illegal mining of the bitcoins. In January 2015, Darktrace considers a possible interference in Italian bank’s system.

The firm exposes that the data is diffuse from one of the bank’s server to the European crime association. Director of the Darktrace Dave Palmer declares in Al summit, “It was a fairly well known European criminal botnet.” He says “The data was not customer data; it turned out to be a fairly buggy implementation of bitcoin mining software.”

The hijacked Italian bank was revealed speedily. It was inactivated within half an hour of it beginning to mine bitcoin. Palmer says, “I don’t think they made very much money out of it.”

2014 was the prime time for the criminal bitcoin mining activities. Palmer says, “It was super fashionable to have coin mining going on alongside sending spam from botnets.” According to the Palmer, bank server case was rare in the history, because these activities’ victims are laptops or desktops mostly.

Darktrace didn’t have the complete data of the mining malware. But Palmer says, “felt like it was a daily occurrence.” In that case, the company perceived 24 such cases in last six months across 24,000 monitoring sites. He says, “It has really dropped off.”

 

Palmer’s Experience

Although, mature cyber criminals steal computing power for mining in that days. It was common among the employees calmly mining from corporate laptops. Palmer says, “We’ve seen normal employees running these services on their workstations overnight.” Accordingly, “No surprise; people do all sorts of things like peer-to-peer file sharing and hosting Tor nodes [infrastructure for the anonymized network that’s part of the dark web], so I bet there is a load of coin mining stories all over the place.”

In addition, Few employees took their digital currency passion a step too far. Darktrace has found the same server covered by company’s staff in data center mining bitcoin non-stop. The severs advantage from superior cooling systems and consistent power supply at data center. Palmer says, “We found employees had procured some servers, [and] had hidden them under the data center false flooring.” And, “They were ‘off-the-record’ servers that no one recognized, mining coins 24/7.”

Those days of secret Bitcoin mining is now over. In addition, too much computing power is needed to mine bitcoin. Now, thousands of the servers are stored in huge warehouses. In addition, processing power increased by 770-fold since 2014, leaving the little chance for cyber criminals. Palmer says, “I think we have seen the last of successful coin mining.”

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Bitcoin Explained

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Bitcoin

Following the uncertainty of the current world and its unstable economy where currencies face great flux every day, a new economy was introduced under the alias Satoshi Nakamoto. Under the worlds infinite disarray, Bitcoin emerged as a decentralized and a digital cash system with regulated by almost no one.

This peer-to-peer networking system runs through electronic signatures and crypto graphics to generate currency- Bitcoins. Bitcoins are not only a form of currency but also a form of investment for some investors who keep these coins in hopes of an increase in their value and enjoy the opportunity cost.

Mining

Just like normal everyday cash, this currency doesn’t have to be printed and issued by the federals or the central banks. Bitcoins are generated through a process called ‘mining’. These coins are mined out of the system by giving complex and advanced mathematical problems for your computer to solve. The target is to generate a 64-digit number as an answer to that puzzle. When a system solves the given complex algorithm, it obtains a specific fraction of Bitcoins every time.

The bitcoin network automatically sets the difficulty level of the mine to be mine next. On average, there are around 25 Bitcoins mined every 10 minutes. During the process, only a set number of Bitcoins can be mined during a certain period. After every four years, this reward is halved. Currently, it is up to 12.5 Bitcoins for every mathematical problem solved.

Limited Supply

Fiat currencies have an unlimited supply and their value can be easily manipulated anytime by the regulatory bodies. Given its independent nature, Bitcoin has tightly restricted supply controlled by the underlying algorithm of the system. There is a set number of coins that can ever be mined ever. A total number of 21 million bitcoins exist in the system.

Bitcoin at its peak has managed to engage the market by over 2 million dollars. The lowest has been $2. Today the value roughly swifts around $9,000.

No economy supports the sudden fluctuations in the system. Too much too fast will result in the dropping of the value of the currency. Too much too slow will cause the economy to halt. Due to these reasons, Bitcoin has a self-stabilizing system to regulate the economy at the most favorable grounds.

Exchangers allow the holders to transfer and buy or sell these Bitcoin crypto coins among other users. One of the famous platforms is Bitstamp. This allows users to buy Bitcoins in fiat currency and also enables them to sell them to other potential users. Bitstamp enables users to store the coins too as e-wallets. But beware of the hackers, as they can dangerously destabilize these digital economies.

With the gradual growing influence of these cryptocurrencies in the world today, a lot of applications and platforms have shown loyalty to the Bitcoin. Platforms like WikiLeaks and WordPress have started accepting bitcoins as means of their payments and transaction currency.

MintChip

Inspired by the Bitcoin, the Canadian government has launched a similar cryptocurrency named, MintChip. This electronic currency is backed by the government, unlike the Bitcoin.

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What is cryptocurrency trading

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Foreign exchange of the digital currencies is known as the crypto-trading. its means you are free to trade different crypto-coins for USD and BTC. Basically, trading is another to entered in crypto-world. It doesn’t need any investment, mining hardware or extra fees.

Why do we need to trade bitcoin and not forex?

To start earning money by trading, you need half an hour. In addition, scroll down and open your account with forex. It will take few weeks until they send you to sign up form and access code as well. It will take some time until you transfer your fund from bank account to forex negotiator.

Similarly, it is quite easy to leave crypto-trading. you just need to transfer bitcoin through an exchange

and its done.

Smaller spreads

One enormous advantage of the bitcoin is low spreads. In addition, the spread is a term which defines the difference between ask and bid price of the market marker.

Smaller spreads mean, when you exchange, you have ended approximately no loss. On the conflicting forex (btw. Other than Eur/USD have even advanced spreads), after your exchange, you made a loss of 0.018%, which isn’t irrelevant. So, do not be unable to remember to check your transactions at your exchange.

Crypto-exchange margin

The concept of leverage and margin trading is possible on forex as on crypto-exchange.

Margin trading allows you to borrow buying/selling power from peer to peer funding providers, but you need to allocate some funds first. Which won’t be reachable until you return the loaning fund.

Leverage at crypto-exchange

A possibility to trade an amount which you don’t have at your clearance. Usually, exchange offers a leverage of 1:10. It means you get 10 dollars buying power. In short, higher risk provides you the possibilities of higher profit.

Getting started trading cryptocurrencies

First, you need a wallet, you will able to buy cryptocurrencies like bitcoin or ethereum and protect them. A number of Crypto-exchange has free wallets with trade ability. But a suggestion is, don’t put your all bitcoin at single place. In this way, you will minimize the hacked or scammed risk. And, one more thing, not forgets to activate your 2FA authentication.

Contact for difference

Bitcoin and ethereum’s CFDs offers to trade without any coin. Basically, CFDs is a contract between purchasers and vendor.  Where seller will pay the amount of crypto asset and the price at the end of the contract to the consumer. These certificates are mostly used on goods.

Pros and cons of using CFDs

Two benefits of using CFDs are;

Trust

CFD platforms have been funded for many years ago. They are actually controlled by the governments.

Simplicity

You are trading with the cryptocurrency or with fiat currency the entire process is same and simple.

 

 

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Bitcoin Mining Energy Consumption: Generating Bitcoin Requires A Lot of Energy!

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As you already know that bitcoin is purely digital, so there’s no physical digging in it. And in a world of virtual currency, such creation is known as mining. However, the computer power needs a lot of electricity to create digital tokens.

According to Alex de Vries (an economist who tracks energy use in the industry), each digital token consumes energy, equivalent to an average American household burns in two years.

If we talk about the total number of computers that are plugged into bitcoin network, then the energy consumed by the network is equivalent to the energy of a medium-size country. The network that supports the second most valuable virtual currency, Ethereum, also consumes energy in a hefty amount.

Bitcoin and Ethereum are consuming so much energy that now it has become a part of a debate among some people. Since the energy consumption of these systems has risen, the prices of these virtual currencies have also gotten very high.

Vitalik Buterin (the creator of Ethereum), is trying to find out ways so the tokens can be created without requiring that much energy. He said that he’d feel unhappy if his main contribution to the world was adding Cyprus’s worth of electricity consumption to the global warming.

According to Peter Van Valkenburgh (director of research at Coin Centre), such electricity usage is really important. This argument has its essentials in the complex systems that create tokens like Bitcoin and Ether, the currency on the Ethereum network, and other new virtual currencies.

The enticement of new bitcoins is encouraging people to use fast computers and lots of electricity in order to find the right answer and to unlock new bitcoins that are distributed every 10 minutes. The process was well-defined by the original Bitcoin software, which was released in 2009.

Bitcoin Mining Energy Consumption

At this time, the 12.5 bitcoins that are being distributed every 10 minutes are worth about $145,000 and people are willing to invest in it, which shows why there are huge server farms around the world that are devoted to bitcoin mining.

This process is essential for Bitcoin’s existence, as all the computers are serving as accountants for the Bitcoin network. No one can fudge the records and dominate the accounting as the mining race is meant to be really hard. According to Satoshi Nakamoto (the creator of virtual currency), the system was designed to thwart greedy attackers who might try to change the records.

Because of mining and accounting rules, the attackers have been kept away and the network is still safely going on. However, there’s been a disagreement over the original value of bitcoin and the network that supports it.

Marc Bevand (a miner and analyst) wrote in his blog that “labelling bitcoin mining as a waste is a failure to look at the bigger picture”. Although some people who are interested in all that innovation are anxious about the massive use of electricity. The concern about the use of electricity has become a subject of debate among many, however, other virtual currencies like Stellar and Ripple that were created after the Bitcoin don’t require much electricity.

The new mining process has been proposed by Mr Buterin for Ethereum. This process has been already used by some other smaller cryptocurrencies. New coins are distributed to only those people who are able to prove their ownership of existing coins. The current method totally relies on computational power and it just needs lots of computers which can play an important part in the computational race.

According to Mr Van Valkenburgh from the Coin Centre, if you want strong security at the moment, then you need proof of work.

Photo Credit : Mashable

 

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US Officials Commend Blockchain Surrounded by ICO Distress

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On Wednesday, a message was broadcasted by U.S. government officials at the DC Blockchain Summit in Washington-even as securities officials cautioned exchanges who offer ICO tokens trading. James Sullivan (Deputy Assistant Secretary of services at the Commerce Department’s International Trade Administration) remarked during his address;

“We cannot make policy in the abstract” and concluded by saying;

“I would welcome all of you in the audience to reach out … and to hear your recommendations”

There’s no doubt that Sullivan showed support for the use of blockchain inside the trade finance chain, especially for smaller companies with hardly any resources, as he stated;

Blockchain

“The companies that are usually hit hardest by that gap of trade finance are small- and medium-sized businesses”

Attendees who talked to CoinDesk, turned out to be more divergent on the question of blockchain’s use in government and also on the the subject of cryptocurrency regulation, which was the greatest concern at the event as well. Scepticism was also expressed by one of the employees of a major blockchain startup that the U.S. officials would seriously obligate to utilize this tech, conflicting that agencies might be served a lot better, seeing at the advances of tokenization.

Chief data architect of OPM (Office of Personnel Management), Marcel Jemio, alongside Mark Fisk, who’s an IBM Public Service Blockchain partner stated that blockchain could be utilized in order to aggregate government employee information in a more efficient and well-organized way.

Fisk stated;

“I think blockchain in a lot of cases is going to be an enabler of solving the problem, but not necessarily with solving the problem only with blockchain”

Jihan Wu, co-founder of Bitmain also revealed that the bitcoin mining hardware giant wants to invest in startups and looking forward  to make a “private central banks” that utilize cryptocurrencies. Wu thinks that tokens on the market today will eventually come to be viewed as securities under traditional meanings.

CoinDesk was told by conference attendees that they’d definitely appreciate regulation, specifically relating to ICOs, whereas others asserted that these emerging regulations at this time would probably lodge businesses into inflexible models ill-suited for such a quick moving situation. Attendees also showed their concern about the unreliable treatment of cryptocurrencies by the U.S. government, specified that the IRS considers bitcoin as property and the CFTC views it as a commodity.

But at the same time, two members from a cryptocurrency services company said that they believed such dissonance could eventually profit the industry, with the lack of agreement by the SEC, the CFTC and the IRS, eventually imposing further discussion on the finest way onward.  Brian Quintenz, a commissioner for the CFTC, was also seen at the event, firmly encouraging more self-regulation in the cryptocurrency space. Quintenz even told the audience that cryptocurrency platforms should come forward and self-regulate.

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