There is a new revolution going on. Since its birth, Bitcoin has been growing not only in value but also in popularity. Over the past 3-4 years I have seen a spike in the acceptance of Bitcoin and Altcoins. Many people at first thought it was a fad that would soon burn out like all others. I too was a skeptic about the whole Cryptocurrency idea. I didn’t think any government would allow any currency that can’t be controlled or regulated to continue to exist.
However had you started accumulating Bitcoin only 5 years ago you probably would be able to afford to retire by now. You might be saying to yourself “well it’s too late by now I’ve surely missed out on that opportunity”. You shouldn’t be so quick to give up on the idea. Sure Bitcoin is on an ever upward climb but few think about rising tides. Just because Bitcoin is harder to accumulate doesn’t mean you can’t focus on another for of cryptocurrency. There a several out there that have risen in value as Bitcoin climbs higher. Etherum, Dash, Dodge, Litecoin and more.
What do you do with them once you accumulated them? Using this guide I have increased my Bitcoin and Altcoin wallet values and I have diversified my coins to continue to grow and work for me. This is an awesome guide to help you get started in the new Gold rush. Join the Bitcoin Revolution today!
Imagine what your life would be like now had you invested your time and money into Bitcoin when it was first introduced. Would you still be working? Would you be able to travel the world? Would you be retired living the way you want with no boss or alarm clock? There might still be a chance for you to live the life you want.
Have you ever heard of Pizza Day? That was the day years ago when a man paid 10,000 bitcoins for a pizza. Using the current price of Bitcoin today he paid over $22,000 for one pizza! Of course Bitcoin valuation was only pennies back then but just imagine if you had 10,000 or more Bitcoins in your wallet. Just one Bitcoin today is worth over $2,000. What if you had started accumulating Bitcoin years ago and you had over 10,000 coins? How awesome would that be?
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It is still unclear what is causing this major transaction delay right now, though. Bitcoin network congestion has almost become a weekly trend as of late. Not too long ago, around 160,000 transactions were awaiting confirmation. It appears that issue has not been entirely resolved since then. In fact, there are close to 200,000 transactions in the mempool right now. All of this goes to show something will need to change for Bitcoin. It is nowhere near mainstream-ready by now, that much is evident.
More Mempool Concerns For Bitcoin Users
A growing mempool is rather troublesome for the Bitcoin ecosystem. While it is good to see more transactions take place, it also causes problems. More transactions without space to cram them in results in unnecessary delays. Additionally, it increases the average transaction fee for all other users. One Reddit user mentioned how his Trezor transaction fee spiked to US$247.87 when sending 1 Bitcoin.
Although such high fees are rather uncommon, it highlights a bigger problem. Right now, there are over 196,000 unconfirmed transactions in the mempool. Without a scaling solution, this situation will only get worse. It is unclear if these issues affect the Bitcoin Dominance Index as well, although it is possible. More specifically, Bitcoin’s dominance has dipped below 50% for the first time in history.
Transacting in Bitcoin has become a very real problem as of late.With transaction fees mounting, things are not looking all that great for Bitcoin right now. This does not mean the popular cryptocurrency will drop in value anytime soon, though. However, it also proves this cryptocurrency ecosystem is not ready for mainstream adoption by any means. The average user can’t send Bitcoin in a proper manner right now.
It is still unclear what is causing this major transaction delay right now, though. This backlog has been present for quite some time now. There does not appear to be any transaction spam taking place right now either. If this problem remains present for a few more weeks, things could escalate quickly. This is not positive news for the Bitcoin ecosystem by any means. Solving the problem may prove to be more difficult than most people think, though.
Since the inception of Bitcoin the value has increased thousand fold. There have been many new coins that have popped up and disappeared just as quick. Over time the true winners will eventually separate themselves from the rest. With the value of Bitcoin around $1700 for one BTC, I believe that now is the time to start accumulating Bitcoin and Altcoins if you haven’t already. My friends have asked me a few times where I get my Bitcoin and what I am doing with them.
So I decided to write this post to explain how I gain Bitcoins and what sites I use on a daily basis to increase my earnings. A few of these sites I have spent some of my accumulated BTC to buy hashing power but more on that later. All of these sites are free to join and start earning BTC. I have joined a lot of BTC related sites and have found out the hard way which were scams and which were not. That’s not to say that one of these sites may eventually disappear but these are the sites that I have found that are still up and running and paying. Using a growing collection of sites like these I will be generating Bitcoins and Altcoins practically for free for years to come.
First off I want to explain a few terms you will be seeing so should you decide to start building your portfolio of Crypto coins you will feel confident enough to move forward with your BTC venture.
- Hash Power or Hash Rate – A hash, in it’s most basic form, is the output of a hash function (computer process) and, as it relates to Crypto coin, the Hash Rate is the speed at which a computer completes an operation to confirm a transaction in the Bitcoin blockchain code. A higher hash rate is better when mining as it increases your opportunity of finding the next block and receiving the reward.There are several levels of hash rates that you should be aware of. The smallest you might see is KH/s which means Kilohashes per second or 1,000 hashes. MH/s would mean 1,000,000 hashes per second, GH/s would be 1,000,000,000 hashes per second and TH/s is called Terahash which is a trillion hashes per second. Believe it or not there are 4 more left but to get that kind of computing power would be very expensive but for education sake and to be complete I’ll finish the list. PH/s is called a Petahash which equals a Quadrillion, EH/s, or Exahash equals a Quintillion, ZH/s is called a Zetahash and is equal to a Sextillion and finally a Yottahash, YH/s, is equal to a Septillion! That’s a 1 followed by 24 zeros!
- Blockchain – The Blockchain is the public record of every Bitcoin transaction, collected into blocks, since the very first one, the Genesis Block. If you wanted to find a particular transaction you could go to Blockchain.info and do a search using a wallet address.
- Wallet – A wallet is simply a place you keep your coins. Some sites offer the ability to store your Altcoins as well but most are Bitcoin based. There are dozens of sites out there but the main ones that I found to be better was Blockchain for one and Coinbase. If you don’t want to use an online source you can download a piece of software that will allow you to store your coins locally on your home computer. This is one of the attractive features of Crypto coins being that they are a virtual form of currency that has real value and can be held offline or “Cold Storage” for safe keeping.
So, now that were up to speed, let’s light this candle! This list is in no particular order other than the sites I started using first and recommend highly will be closer to the top. Keep checking back too, I might have added more sites since your last visit.
The first site on my list is Hashflare. This was my first venture into mining for coins. When I first joined you could only buy SHA-256 or Scrypt hashing power. Now they also offer ETH and X-11 to use for mining Ethereum and other Altcoins. Taking a leap of faith I bought .25 TH/s of SHA-256 hashing power for $27 just to see what it was about and because the SHA-256 contracts don’t expire where the other hash rates do.
The payouts were small with such little hashing power but it was there. I used my account balance the first couple times to buy more power and as I watched my BTC accumulate in my account I decided to buy more power. So for the next couple months I let my BTC accumulate and then I would purchase more power. To date I only have .7 TH/s of power but that’s because I withdrew my BTC a few times, 8 times to be exact, for a total of $116 and change. Each time I requested a withdraw it was automatic and only took an hour or two to confirm. I like the thought that purchasing something like a hashing contract can continue to pay me back for years or until mining for coins becomes too expensive. I highly recommend Hashflare and this is one site I will continue to work with and continue increasing my hash rate.
The next site is Eobot. This is a simple site that offers a lot as far as mining capabilities. They offer 19 different coins to mine as well as earning USD or mining for gold. When I first joined I used their faucet to earn Dodge. I then exchanged those Dodge for more power. Eobot offers hash power in GH/s so using the faucet you can slowly accumulate coins to exchange for more power for free. Each time you purchase more power your contract is good for 5 years. meaning you can still be mining for Bitcoin 5 years from now just by doing a little today.
Now the next few sites are faucets and If you’ve been online looking into Bitcoin then you must have heard of a faucet. These are sites where you enter a captcha code and you earn free BTC just for visiting the site. These sites rely heavily on advertisements to be able to payout and they are wildly popular sources of free BTC. There are hundreds of faucet sites and some are a waste of time however there are a few that stand out.
The first one is Free Bitcoin Win
The next one is Free Dodge Coin.
Last but definitely not least is Free Bitcoin.
Using these 3 sites you can accumulate some easy BTC to add to your wallet. The best part is you can do it every hour.