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Difference between revisions of "Cryptocurrency"

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(added "Where You Can Buy", some more cryptos and changed a few words)
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'''NOTE: Begging for cryptocurrency is against the rules!  It's also annoying as fuck!'''
 
'''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.
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'''Cryptocurrencies''' or '''crypto''' refer to a number of protocols which can be used to store financial information over the internet without the need for a central arbitration or regulatory service such as a bank or government. This is possible using public/private key cryptography, P2P communication, and a public, distributed ledger called the blockchain. Current (March 2021) top cryptocurrencies include Bitcoin, Litecoin, Ethereum, Monero, Chainlink, and Ripple.
  
 
== How it works ==
 
== 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.  
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All cryptocurrencies work on a [[distributed]], P2P 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.  
  
 
Originally, 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.  
 
Originally, 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.  
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Afterwards, CPU and GPU-based rigs were deprecated by FPGAs and ultimately, ASICs.
 
Afterwards, CPU and GPU-based rigs were deprecated by FPGAs and ultimately, ASICs.
  
=== So how do I get an account with this? ===
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=== So how do I get some? ===
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 [https://coinbase.com Coinbase], which is one of many popular online banks.  
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Getting crypto is simple! You can either mine some (not recommended if it's bitcoin anyway), or you can use an online crypto exchange to buy some, such as [https://coinbase.com Coinbase], which is one of many popular online exchanges as seen below.
  
Now, after you create an account, you can recieve bitcoins through two methods. Your email address, or your Bitcoin number ID. An example of what a Bitcoin number ID looks like is as follows: <code>1H3gZJnZbraG6Nsg8QodB9CUBEPhjhrVUt</code>. This is what you need to make '''public'''. Through this number ID, it is possible to easily send and receive bitcoins.
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Now, after you create a wallet, you can receive bitcoins through two methods. Your email address, or your Bitcoin number ID. An example of what a Bitcoin number ID looks like is as follows: {{ic|1H3gZJnZbraG6Nsg8QodB9CUBEPhjhrVUt}}. This is what you need to make '''public'''. Through this number ID, 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 ANONYMOUS OR SOME OTHER SHIT.'''
 
'''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==
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*[https://bitcoin.org/en/ Bitcoin]
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==Where You Can Buy==
*[http://dogecoin.com/ Dogecoin]
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These days most of the exchanges where you buy crypto ask you for ID verification like your drivers license or passport so that the government can associate those coins with you and the exchange can check that you aren't underage b&, these are referred to as '''Know Your Customer exchanges (KYC)'''. There are still non-KYC exchanges available and there are alternative methods like [https://en.wikipedia.org/wiki/Bitcoin_ATM crypto ATMs] or you can buy crypto from someone in person with cash.
*[https://litecoin.org/ Litecoin]
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===KYC exchanges===
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* [https://www.binance.com/ Binance]
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* [https://www.bitfinex.com/ Bitfinex]
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* [https://coinbase.com/ Coinbase]
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* [https://www.kraken.com/ Kraken]
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===Non KYC Methods===
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* [https://bisq.network/ Bisq] Decentralized exchange that uses [[Tor]]
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* Crypto ATMs
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* https://localcryptos.com/
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* https://www.kucoin.com/
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Check https://kycnot.me/ for more
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==Notable Cryptocurrencies==
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*[https://bitcoin.org Bitcoin] (BTC)
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*[https://bitcoincash.org/ Bitcoin Cash] (BCH)
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*[https://chain.link/ Chainlink] (LINK) (/biz/ meme coin)
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*[https://ethereum.org Ethereum] (ETH)
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*[https://litecoin.org Litecoin] (LTC)
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*[https://ripple.com/ Ripple] (XRP)
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===Privacy-focused===
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*[https://www.getmonero.org Monero] (XMR) (What the media and normies think Bitcoin is)
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*[https://www.dash.org/ Dash] (DASH)
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*[https://z.cash/ Zcash] (ZEC)
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===Scam/Meme Coins===
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*BitConnect (BCC)
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*[https://dogecoin.com/ Dogecoin] (DOGE) ([https://www.cnn.com/2020/12/20/investing/elon-musk-bitcoin-dogecoin/index.html Elon Musk pump and dump])
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==Places you can spend it==
 
==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:
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Bitcoin is accepted at thousands of stores on the internet and in person and is increasingly gaining notoriety. Here are some of the most popular stores:
  
 
* http://www.overstock.com -- Tons of products in different categories
 
* http://www.overstock.com -- Tons of products in different categories
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* https://www.bitstamp.net/ -- World largest bitcoin exchange
 
* https://www.bitstamp.net/ -- World largest bitcoin exchange
 
* https://litecoin.info/Mining_hardware_comparison
 
* https://litecoin.info/Mining_hardware_comparison
* http://cryptmarketcap.com/
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* https://coinmarketcap.com/
  
 
[[Category:Software]]
 
[[Category:Software]]
 
[[Category:Culture]]
 
[[Category:Culture]]

Revision as of 00:36, 27 March 2021

NOTE: Begging for cryptocurrency is against the rules! It's also annoying as fuck!

Cryptocurrencies or crypto refer to a number of protocols which can be used to store financial information over the internet without the need for a central arbitration or regulatory service such as a bank or government. This is possible using public/private key cryptography, P2P communication, and a public, distributed ledger called the blockchain. Current (March 2021) top cryptocurrencies include Bitcoin, Litecoin, Ethereum, Monero, Chainlink, and Ripple.

How it works

All cryptocurrencies work on a distributed, P2P 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.

Originally, 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.

Afterwards, CPU and GPU-based rigs were deprecated by FPGAs and ultimately, ASICs.

So how do I get some?

Getting crypto is simple! You can either mine some (not recommended if it's bitcoin anyway), or you can use an online crypto exchange to buy some, such as Coinbase, which is one of many popular online exchanges as seen below.

Now, after you create a wallet, you can receive bitcoins through two methods. Your email address, or your Bitcoin number ID. An example of what a Bitcoin number ID looks like is as follows: 1H3gZJnZbraG6Nsg8QodB9CUBEPhjhrVUt. This is what you need to make public. Through this number ID, 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.


Where You Can Buy

These days most of the exchanges where you buy crypto ask you for ID verification like your drivers license or passport so that the government can associate those coins with you and the exchange can check that you aren't underage b&, these are referred to as Know Your Customer exchanges (KYC). There are still non-KYC exchanges available and there are alternative methods like crypto ATMs or you can buy crypto from someone in person with cash.

KYC exchanges

Non KYC Methods

Check https://kycnot.me/ for more


Notable Cryptocurrencies

Privacy-focused

  • Monero (XMR) (What the media and normies think Bitcoin is)
  • Dash (DASH)
  • Zcash (ZEC)

Scam/Meme Coins


Places you can spend it

Bitcoin is accepted at thousands of stores on the internet and in person and is increasingly gaining notoriety. Here are some of the most popular stores:

Other cryptocurrencies are accepted at much fewer stores.

Unsorted Links