Category Archives: E-Currencies

The Bitcoin Sun – The First Bitcoin Newspaper

bitcoin logo

Hello dear reader.

It looks like the bitcoin community is continuing to grow. I just found out that someone published the very first newspaper dedicated to bitcoin and the bitcoin community. Pretty cool! This newspaper is called “The Bitcoin Sun.”

Link to download the first edition of The Bitcoin Sun:

http://www.bitcoinservice.co.uk/files/866

I thought I’d share a link to where you can download a copy for yourself. I’d say it’s worth a read. It is a bit rough as is to be expected for the first issue of something new, but it does contain some intersting articles. The one that I’d say any bitcoin newbie must read is the one entitled “From Alice to Bob: A not so simple introduction to bitcoin’s inner workings” Do not get intimidated by that title. The article is not _THAT_ complex so if you flex your brain a bit you no doubt will be able to get it. Bitcoin is complex in a sense, but it is an ingenious one (my opinion – if you disagree leave a comment) and once you begin to understand its inner workings more and more I am pretty sure you tooo will agree with me. What can I say, I wish I’d have thought of it myself!

OK folks, that does it for this post. Stay tuned her for more bitcoin related posts. I am also thinking of maybe starting an entire blog dedicated to bitcoin. Not sure at this moment if I have enough time to update yet another blog, but I shall at least give it a try.

By the way, I invite you to join me and others on the bitcoin forum:

http://www.bitcoin.org/smf/index.php

Cheers,

Alan

Bitcoin: An Innovative Alternative Digital Currency

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Hi everyone.

If you’ve been paying attention to my previous posts you probably already know that I’m into this new e-currency called Bitcoin, and that I made several posts about it (here, here , here and here). There is quite a lot of useful reading material about bitcoin out there, and I just came across some new reading material that I’d like to share with you. It is a paper written by a Yale Law School student. While this paper is still a preliminary draft I would still recommend it to new bitcoin users.

There is one thing that I’d like to mention. In the paper the author refers to bitcoin as a fiat digital currency. This is not true in the strictest sense of the word “fiat.” Bitcoin is not fiat because fiat money only has value due to government regulation or law. No government controls bitcoin so its value is not based on the fact that some government decreed that bitcoins are “legal tender.” Bitcoins are instead free-market money because PEOPLE choose to value them and to make use of them as a medium of exchange.

Anyways, technical details aside (I did say that the author’s paper is preliminary didn’t I?) here is the link where you can download a copy of this paper (PDF format):

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1817857

Enjoy!

Cheers,

Alan

Lets clear up common Bitcoin misconceptions

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My interest in Bitcoin having been rekindled I find myself in a rather interesting situation. When I tell people about Bitcoin and how it works  I sometimes run into a brick wall of misconceptions and biases, so to clear these misconceptions I send them to the Bitcoin Wiki. They have a nice section called “Myths” where they attempt to “clear up common Bitcoin misconceptions” and I personally think they’re done a good job. If you’ve just gotten into Bitcoin and you’re not quite “getting it” and think that Bitcoin is still just another e-currency doomed to failure, have a look at this link please:

https://en.bitcoin.it/wiki/Myths

Stay tuned to this blog as I have some big plans for Bitcoin. I am working on launching quite a few online services that will work solely with Bitcoins thus hopefully I will be doing my share to make the bitcoin economy grow and add extra value to it as well.

Cheers!

Alan

Bitcoin, the new digital currency explained

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Hi everyone. I’ve got another bitcoin related video to share. Like the other videos I’ve posted this one also tries to explain how the bitcoin currency works but it goes into more detail regarding some of the technical details behind the system – ie it is a far more geeky video. However if you really wish to wrap your mind around the brilliance of bitcoin I would strongly suggest you visit the official bitcoin website and read the available documentation.

OK, so here goes the video. I hope you enjoy it.

Cheers,
Alan

Bitcoin – Rise of a New Currency

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Hi there. In the previous post I introduced you to the wonderful world of bitcoin – the newfangled and in my opinion revolutionary digital currency system. Today I’m going to share with you another video relevant to bitcoin. It’s rather short and has an air of conspiracy theory to it but I still think it would make a great video to show to someone who has never heard of bitcoin. Check it out here:

That’s it for now.

Alan out.

What is Bitcoin?

bitcoin logo

Hi everyone. It has been quite a long time since I blogged about the e-currency industry, so I figured I’d get back into it and write a brief introduction to a new and innovative e-currency called Bitcoin.

I came across a video on YouTube which explains what Bitcoin is so I though I’d best start this blog posting by sharing this video with you:

I for one believe Bitcoin is a really neat e-currency system! Checkout some of the numerous features of the Bitcoin system.

Decentralized:

Bitcoin is the first digital currency that is completely distributed. The network is made up of users like yourself so no bank or payment processor is required between you and whoever you’re trading with. This decentralization is the basis for Bitcoin’s security and freedom.

Very low fees:

Currently you can send Bitcoin transactions for free. However, a fee on the order of 1 bitcent will eventually be necessary for your transaction to be processed more quickly. Miners compete on fees, which ensures that they will always stay low in the long run. More on transaction fees

Worldwide:

Your Bitcoins can be accessed from anywhere with an Internet connection. Anybody can start mining, buying, selling or accepting Bitcoins regardless of their location.

No “smal print”:

If you have Bitcoins, you can send them to anyone else with a Bitcoin address. There are no limits, no special rules to follow or forms to fill out.

More complex types of transactions can be built on top of Bitcoin as well, but sometimes you just want to send money from A to B without worrying about limits and policies.

Own your money! :

You don’t have to be a criminal to wake up one day and find your account has been frozen. Rules vary from place to place, but in most jurisdictions accounts may be frozen by credit card collection agencies, by a spouse filing for divorce, by mistake or for terms of service violations.

In contrast, Bitcoins are like cash – seizing them requires access to your private keys, which could be placed on a USB stick, thereby enjoying the full legal and practical protections of physical property.

Features text taken from weusecoins

Where can I get some bitcoins?

You can see the bitcoin website for a list of various bitcoin exchangers.

Me and a buddy of mine have put together a site where you can buy/sell bitcoins for PayPal, so if that’s what you’re after I suggest you check out the link below:

http://www.bitcoinexpress.com/

The site is still in development but it pretty much works as it should. If you run into any problems please don’t hesitate to give me a shout.

I hope you found this brief introduction to the world of Bitcoin useful.

Cheers,

Alan