Tag Archives: bitcoinexpress

Bitcoins valued at over $30 per bitcoin now!

Wow. That’s pretty much all I can say. The recent growth of bitcoin has been nothing short of astronomical! I never would’ve guessed that back when I first found out about it this little “hobby e-currency” (what I thought of it at the time) would grow in value and popularity so fast. Now that I think about it some more I wish I bought more! Is now still a good time to buy some bitcoins? I think so but please don’t take this as investment advice – do your own research. However if this catches on even more it’s going to BIG, and I mean really big. My gut feeling tells me that I’ll see an exchange rate of $100 USD per bitcoin. Only 21 million bitcoins will ever be minted (by a process called mining – research it at the bitcoin wiki) so even if several million people start to use it you know it’s going to HAVE to go up in value.

Speaking of the bitcoin value, I found a really cool website that displays real time bitcoin market data. It allows you to see every trade that passes through the Mt. Gox exchange (currently the most popular and most established bitcoin trading market). Here is the link to the site:

http://bitcoin.clarkmoody.com/time-sales/

If you’ve got some spare bitcoin please consider donating a few bitcents to the author of that page – it’s extremely useful and nifty in my opinion.

Hope you found it useful. If there are any bitcoiners in the house please feel free to leave a comment.

Cheers,
Alan

Lets clear up common Bitcoin misconceptions

bitcoin logo

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

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