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Difference between revisions of "Cryptocurrency"
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| − | '''NOTE: | + | '''NOTE: Begging for cryptocurrency is against the rules! It's also annoying as fuck!''' |
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'''Cryptocurrencies''' refer to a number of protocols which can be used to store and transfer digital money tokens over the internet without the need for an intermediary such as a bank. This is achieved using public key cryptography, P2P communication and a public, distributed ledger called the "blockchain". The most popular cryptocurrency is called Bitcoin, at the time of writing one bitcoin is worth around $550, but the value tend to fluctuate a lot as it is purely based on supply and demand at exchanges. | '''Cryptocurrencies''' refer to a number of protocols which can be used to store and transfer digital money tokens over the internet without the need for an intermediary such as a bank. This is achieved using public key cryptography, P2P communication and a public, distributed ledger called the "blockchain". The most popular cryptocurrency is called Bitcoin, at the time of writing one bitcoin is worth around $550, but the value tend to fluctuate a lot as it is purely based on supply and demand at exchanges. | ||
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Now, after you create an account, you can recieve bitcoins through to methods. Your email address, or your Bitcoin number. An example of what a Bitcoin ID looks like is as follows: <code>1H3gZJnZbraG6Nsg8QodB9CUBEPhjhrVUt</code>. This is what you need to make '''public'''. Through this number, it is possible to easily send and receive bitcoins. | Now, after you create an account, you can recieve bitcoins through to methods. Your email address, or your Bitcoin number. An example of what a Bitcoin ID looks like is as follows: <code>1H3gZJnZbraG6Nsg8QodB9CUBEPhjhrVUt</code>. This is what you need to make '''public'''. Through this number, it is possible to easily send and receive bitcoins. | ||
| − | '''NOTE: WHILE IT IS COMMONLY PERCEIVED AS SUCH, BITCOIN AND RELATED CRYPTO-CURRENCIES ARE NOT MEANT TO BE ANONYMOUS. THEY ARE ONLY CALLED THAT BY IDIOT JOURNALISTS BECAUSE ANONYMOUS SITES LIKE SILK ROAD THAT OPERATE OVER [[Tor|TOR]] USE THEM. DO NOT USE BITCOINS IF YOU ARE PLANNING TO DO SOMETHING THAT IS REQUIRED TO BE | + | '''NOTE: WHILE IT IS COMMONLY PERCEIVED AS SUCH, BITCOIN AND RELATED CRYPTO-CURRENCIES ARE NOT MEANT TO BE ANONYMOUS. THEY ARE ONLY CALLED THAT BY IDIOT JOURNALISTS BECAUSE ANONYMOUS SITES LIKE SILK ROAD THAT OPERATE OVER [[Tor|TOR]] USE THEM. DO NOT USE BITCOINS IF YOU ARE PLANNING TO DO SOMETHING THAT IS REQUIRED TO BE ANONYMOUS OR SOME OTHER SHIT.''' |
==Popular cryptocurrencies== | ==Popular cryptocurrencies== | ||
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* https://litecoin.info/Mining_hardware_comparison | * https://litecoin.info/Mining_hardware_comparison | ||
* http://cryptmarketcap.com/ | * http://cryptmarketcap.com/ | ||
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[[Category:Software]] | [[Category:Software]] | ||
[[Category:Culture]] | [[Category:Culture]] | ||
Revision as of 23:32, 12 December 2015
This dongle is a NOTE: Begging for cryptocurrency is against the rules! It's also annoying as fuck!
Cryptocurrencies refer to a number of protocols which can be used to store and transfer digital money tokens over the internet without the need for an intermediary such as a bank. This is achieved using public key cryptography, P2P communication and a public, distributed ledger called the "blockchain". The most popular cryptocurrency is called Bitcoin, at the time of writing one bitcoin is worth around $550, but the value tend to fluctuate a lot as it is purely based on supply and demand at exchanges.
Contents
How it works
All cryptocurrencies work on a distributed, peer to peer network. Each person on the network acts as a sort of teller. Their computers that they give to the network process a fraction of all transactions. For doing this, many cryptocurrencies reward users with some of the currency. Bitcoin gave 20 bitcoins to all users who ran the network on each successful transfer. This number dropped to 15 due to the progression of time and is expected to drop again in 2020.
Origionally, people would use CPUs in their Laptops and Desktop computers to complete a transaction render. Soon after, it was discovered that using a GPU was much more efficent. This led to entire bitcoin mining rigs being made out of GPU chips.
So how do I get an account with this?
Getting an account is simple! You can either have your entire computer as your "bitcoin wallet" (not recommended), or you can use an online bitcoin bank, such as Coinbase, which is one of many popular online banks.
Now, after you create an account, you can recieve bitcoins through to methods. Your email address, or your Bitcoin number. An example of what a Bitcoin ID looks like is as follows: 1H3gZJnZbraG6Nsg8QodB9CUBEPhjhrVUt. This is what you need to make public. Through this number, it is possible to easily send and receive bitcoins.
NOTE: WHILE IT IS COMMONLY PERCEIVED AS SUCH, BITCOIN AND RELATED CRYPTO-CURRENCIES ARE NOT MEANT TO BE ANONYMOUS. THEY ARE ONLY CALLED THAT BY IDIOT JOURNALISTS BECAUSE ANONYMOUS SITES LIKE SILK ROAD THAT OPERATE OVER TOR USE THEM. DO NOT USE BITCOINS IF YOU ARE PLANNING TO DO SOMETHING THAT IS REQUIRED TO BE ANONYMOUS OR SOME OTHER SHIT.
Popular cryptocurrencies
Places you can spend it
Bitcoin is accepted at thousands of stores on the internet and in person. Here are some of the most popular stores:
- http://www.overstock.com -- Tons of products in different categories
- http://www.tigerdirect.com/ -- Computer hardware and electronics
- https://www.humblebundle.com/ -- Cheap games
- https://www.namecheap.com/ -- Domain names and hosting
Other cryptocurrencies are accepted at much fewer stores.
Unsorted Links
- https://www.bitstamp.net/ -- World largest bitcoin exchange
- https://litecoin.info/Mining_hardware_comparison
- http://cryptmarketcap.com/
