Introduction To Bitcoins

Over the last couple of weeks, everybody has been weighing in about Bitcoin, the digital currency that might be the money of the future, or a bubble bursting right in front of us. After being worth only $30 in March, on Wednesday, Bitcoin reached an all time high of $266, then plummeting to just over $100 in a few hours, and now stabilizing around $120. When Bitcoin’s price started to increase unexpectedly, it became the one thing everybody in Silicon Valley was talking about. (For those who don’t know what Bitcoin is, this video explains it perfectly in 3 minutes).

Bitcoin Evolution App Mining – Bitcoin is soon turning into a popular open source, peer-to-peer currency that is an undetectable and safe way to make money online. The unique thing about this method of make money online is that you can continue to dedicate the CPU cycles of your PC to a Bitcoin client. Encryption problems are assigned to your computer which it needs to solve. On solving every problem you will receive 50 Bitcoins. Each Bitcoin is equivalent to $8.60 which makes it a decent income for each problem solved.

Other details released on Wednesday show that the Fed’s expansion of the monetary supply is not having their desired effect of increasing prices at a rate of 2 percent per year, with their latest projections predicting increases of 1.2-1.3 percent for 2013, 1.5-1.7 percent for 2014, 1.7-2.0 percent for 2015, and 1.9-2.0 percent for 2016. The projected annual growth in gross domestic product (GDP) for 2013 and 2014 was revised downward from the June projection, with the 2013 projection dropping to 2.0-2.3 percent from 2.3-2.6 percent, and the 2014 projection dropping to 2.9-3.1 percent from 3.0-3.5 percent.

There will be a page that shows you how many bitcoin are currently in your wallet. Keep in mind that bitcoins can be broken up into smaller pieces, so you may see a decimal with a lot of zeros after it. (Interesting note, 0.00000001 is one Satoshi, named after the pseudonymous creator of bitcoin).

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I hope this helps anyone that finds themself in the same situation we did. When you’re hungry and have money you can’t access quickly, it’s frustrating to say the least. Enjoy your pizza!

12/5: The feature guest this week on the Two Plus Two PokerCast is high stakes Pot-Limit Omaha specialist Ben ‘Ben86’ Tollerene. Also featured on the program is Kristin Wilson, Owner and founder of Poker Refugees, a company which helps players relocate to online poker friendly countries. Later in the program the guys check in with regular contributor to the show Nolan Dalla to get his insight on the passing of poker pro and author Lou Krieger. Mike and Adam also provide some WPT coverage. [Visit Website] [Download MP3].

Bitcoins are a true 21st century currency. If you want to see how currencies of the future will be like download the Bitcoin client and start mining and trading today.