BITCOIN MILLIONAIRE! · Bitcoin Millionaire Report 5 With all that being said….it all revolves down to one thing…why should you care? Well, it’s all about the money, and there’s

BITCOIN MILLIONAIRE!

1 Bitcoin Millionaire Report

CONTENTS

• Let’s Begin

• What is Bitcoin?

• How does the Bitcoin work?

• What are Cryptocurrencies?

• The History of Bitcoins— How it all began?

• And They became Rich with Bitcoins

• Making money with Bitcoins

• How to earn Bitcoins • A look at the different investment strategies • What the Future Holds • Getting started with Bitcoins: a quick look • Important Resources

©2014 BitCoin-Millionaire.com

2 BitCoins-Millionaire.com

Let’s Begin… Did you know that Bitcoins are deemed the Future of Currency? And that it is one of the most profitable ways to make money in the virtual or shall we say online world at the moment? It is a form of Electronic money. However, what exactly is Bitcoin? If you are new to this field or have just heard the term, then you must be curious as to what is this all about?

Or, even if you have some idea or are a veteran in this Bitcoin game, it won’t be bad to brush up your knowledge again. That’s what this e-book is here for. It presents to you a comprehensive outline of what crypto currencies and more specifically Bitcoins are and how you can start cashing out on this megatrend that is happening right before our very eyes today.

More importantly, you will come to know and understand how to make money, and more money, by hopping on board this Bitcoin trend.

So, enjoy reading and gear up to become rich, or shall I say richer!

The Big Question: What is Bitcoin? There are a large number of people, even those with a financial background or who deal with monetary transactions, who do not clearly understand what exactly Bitcoin is.

This virtual currency, has become the center of attention of numerous tax collectors, bankers, economists and businesses at large, why?

©2014 BitCoinRush


Because since 2013 we have witnessed a massive growth in the value of bitcoin, from $13 to as high as $1000. That’s right! That kind of growth is unheard of! So is it possible to become a millionaire with Bitcoins... oh yes it is. Take a quick look at this screenshot here.

I am sure if you zoom in a little and you can see some of the richest Bitcoin holders at the time of writing. Some of these people are holding wallets with the Bitcoin worth of 20+ million dollars of real money. Do we have your attention?, I Bet you are very eager now to find out more. Let us continue.



Now, let’s be more specific (for deeper understanding). Bitcoins are in fact a kind of electronic money, the first cryptocurrency that started circulating in 2009 and over which the traditional banking protocols have no hold.

It is in fact one of the most popular of the plethora of digital currencies that are in operation. The transaction of Bitcoins is conducted, monitored and regulated by a network of computers which has the capacity of solving critical mathematical problems. Each and every Bitcoin transaction is recorded by these computers.

We all know that in case of traditional currencies, the decision regarding the amount to be printed depends upon factors such as inflation, and is governed and regulated by a central bank.

Contrary to this, there is no central authority to regulate Bitcoin supply and transactions. As is the case for other currencies and communities, people’s confidence in this foreign currency decides its value.

©2014 BitCoinRush


With all that being said….it all revolves down to one thing…why should you care?

Well, it’s all about the money, and there’s where the caring part comes.

You can use Bitcoins to purchase things from people who accept these electronic currencies. Moreover, since these coins are digital, they can even be transferred over the internet through the proper software, thereby leading to successful online transactions.

In short, you can say that they are like cards that can be used for peer to peer barter. Obviously the peers should have the readiness to part with their services or goods in exchange of Bitcoins, with the confidence that the same currencies can be transacted to acquire products or services from other suppliers.

All the exclusive features make Bitcoins a quite attractive proposition if you are looking forward to the settlement of international transactions, but hate being plagued by exchange rates or bank charges.



Interestingly, you might be pleased to know that certain internet services like online gambling or web hosting can be availed through the transaction of these electronic currencies.

How does the Bitcoin work? This is exactly the question that you should ask now. Going a bit technical, it can be said that Bitcoins imply the same technology that is leveraged in digital signatures, initiated by the cryptographers Martin Hellman and Whitfield Diffie in the year 1970.

In 2007, some anonymous developer or group possessing the pseudonym Satoshi Nakamoto got hold of this technology and devised the software for the generation of digital currency. That is how the first cryptocurrencies started functioning.

The complex mathematics verifies that a person spending 10 units owns them and cannot reuse the same 10 units again. Every time a Bitcoin is spent, the person involved makes use of a secret key for authorizing a broadcast message across a network of computers, which is a kind of declaration that the Bitcoin has been passed on to another person.

Upon validation of the message and its sender, the software transfers the ownership to the payee, who can in turn pass it on to someone else in the same manner. In this way a transaction chain is created.

©2014 BitCoinRush


(Refer: http://preev.com/, http://coinmill.com/BTC_calculator.html for BTC Currency Calculator)

As already discussed, Bitcoin is the first cryptocurrency. So, it is good to take a look at the concept of cryptocurrencies and understand how the broad operation takes place.

What are Cryptocurrencies?

Cryptocurrencies are a kind of digital currency based on cryptography, and are thus secure and quite hard to counterfeit.

Private or public keys are leveraged for transfer of the ownership of the currencies from one person to another; which indicates that they need to be cryptographically signed. All cryptocurrencies are free from government interference or manipulation.


http://preev.com/

http://coinmill.com/BTC_calculator.html


Bitcoin is the first and most popular cryptocurrency, whose value is determined by the market demand and supply. Going by behavioral aspects, the currency is very similar to precious metals such as gold.

The success of Bitcoin has inspired the launch of a number of other competing cryptocurrencies like PPCoin, Freicoin, Litecoin, and so on. Let us discuss them in brief:

• Litecoin or LTC was launched in 2011, and, with a market capitalization worth $61.9 million is the most popular alternative to Bitcoin. It works more or less on the same principle and is often used as a complementary currency to Bitcoin.

• Launched in 2012, Peer to Peer Coin or PPCoin is an improvised version of Bitcoin that makes stealing and counterfeiting the cryptocurrency all the more difficult.

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• Freicoin, launched in 2012, comes with the interesting concept of demurrage fee. The term demurrage refers to the price that one has to pay for holding back something for a long period of time. Although this is not generally associated with money, the concept has been introduced for the cryptocurrency Freicoin. As a result, merchants or consumers holding Freicoins are prompted to invest or spend them, with haste, thereby boosting the GDP.

Apart from the above-mentioned ones, there is a host of other cryptocurrencies that have seen the light of the day for a very short period of time, only to become obsolete soon. Some of these are Geistgeld, Fairbrix, BBQCoin and SolidCoin.

On a different note, there are some other currencies, which are still working and are considered legitimate, having active support communities. These include currencies like Feathercoin, Terracoin and Namecoin, etc. You can go to https://www.cryptsy.com/ for a long list of tradable and active coins that are available today.

The History of Bitcoins— How it all began? Ok... I know... you you don’t want a history lesson, but bear with me, it’s essential for you to understand bits and parts of the history for you to take Bitcoin seriously (it is the future after all... and after this section, you will know why!)

Now that you have understood why Bitcoin is so important and interesting, you will definitely need to know how this milestone in the


https://www.cryptsy.com/


history of money came to existence. Let us go through the step by step evolution of the Bitcoin and see how it gradually flourished with the passage of time.

• It was in 2007 when Satoshi Nakamoto began working on this concept. There is an interesting crux here. We still do not know whether Nakamoto is a single person based in Japan or a collective pseudonym for a team.

• On August 18, 2008, the domain Bitcoin.org was born through registration at anonymousspeech.com, a site that enables domain names to be registered anonymously. Incidentally, the site is one of those that presently accept Bitcoins.

https://bitcoin.org/en/

• Then comes the day of the white paper, October 31, 2008, when a design paper is published by Nakamoto through a cryptography mailing list throwing light upon the Bitcoin currency. The issue of double spending was solved thereby preventing copying of the currency.

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https://bitcoin.org/en/


• November 9, 2008 witnessed the registration of the Bitcoin project over SourceForge.net. The site promotes community collaboration and focuses on the development of open source software along with its distribution.

• In 2009, the Bitcoin concept rapidly gathered impetus with the mining of the Genesis Block on 3rd January followed by the release of its Version 0.1 on 9th January. The version incorporates a Bitcoin generation system capable of generating around 21 million Bitcoins by 2040.

• The first Bitcoin transaction was conducted on January 12, 2009, in block 170, and the participants were Satoshi and Hal Finney, a cryptographic activist and a developer. In the same year on 5th October, an exchange rate is published for this electronic currency by New Liberty Standard, establishing the currency’s value against US dollars at 1309.03 BTC per dollar.

• A chain of other events followed in 2009, out of which the release of Version 0.2 on 16th December, is a notable one. The beginning of 2010 experienced one of the most significant events in the birth of



the Bitcoin currency exchange on February 6 followed by the publication of the encryption patent on February 18.

• Bitcoin spent on Pizza! Perhaps one of the most significant events of 2010! Well, lets expand on this fact a little, because this is a crucial step in the evolution of the currency. This was the first real transaction, it took place when Laszlo Hanyecz offered 10,000 Bitcoins over the Bitcoin forum in order to buy pizza. The existing exchange rate made the pizza worth US$25.

• Version 0.3 was released on July 7, 2010. The volume touched US$1 million on June 11, 2010 and the first escrow transaction took place on 16th October, 2010.

• A series of events took place in 2011, including significant ones like Bitcoin becoming on par with the US Dollar, an offer to sell a vehicle against this exchange currency, opening of exchange markets with respect to the British pound Sterling and Brazilian Real, and so on.

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• At the end of 2011 and 2012, Bitcoin conferences were held in New York, Prague and London, which eventually led to the establishment of the Bitcoin Foundation on 27th September, 2012.

• On March 21, 2013, the market capitalization of Bitcoin rose to $1 Billion and in April 2013, the value went beyond $100 across MtGox as well as other exchanges.

• From pizza to space travel? Yes, from November 22, 2013 onwards space travel can be conducted in exchange of Bitcoins. The first to accept bitcoin is Virgin Galactic, belonging to Richard Branson.



So, you can see that Bitcoin has a really rich and eventful history. It’s clear to see the astonishing rise of Bitcoin and why it is being viewed as the currency of the future. Talking about the word rich, it would not be bad to take a sneak peek into Bitcoin’s trends of creating millionaires overnight. Yes, millionaires! You’ve heard it right!

Want proof? Here are 3 people who succeeded making millions through Bitcoins. Have a look! (This is by no means the only people who struck it rich with Bitcoins and cryptocurrencies... there are tons of others as well.)

And they became Rich with Bitcoins

• Charlie Shrem: A mere 23 years old lad, and the CEO of BitInstant, which is in the service of transferring cash to Bitcoins, Shrem came to know about Bitcoins during his Brooklyn College days in 2011.

• He did not mine for coins, but instead bought these electronic currencies over a digital currency exchange called Tradehill. Initially, he bought 500 Bitcoins at $3 to $4 per coin, and then lots more as the value soared to $20.

©2014 BitCoinRush

http://en.wikipedia.org/wiki/Charlie_Shrem


• Jered Kenna: This 30 year old happens to be the CEO of Tradehill Bitcoin exchange. The story goes that by accident, while wiping his computer clean, he deleted 800 Bitcoins in 2010. Well, that might seem scary, but, believe it or not, it was not a very big deal for him (although the commodity lost is worth around ten thousands of dollars)!

• In fact, he was one of the initial investors of Bitcoin, purchasing his first lot of 5,000 coins at 20 cents per coin. Today, he is recognized amongst the foremost global authorities across the globe. According to Jered, the investment trend in Bitcoin has shifted from people spending around $500 to people dishing out amounts as high as $1 million.



• Roger Ver: Aged 34, Roger Ver, is a former politician and an investor. Soon after the launch of Bitcoin, Ver became interested in and started to gain ample knowledge about this cryptocurrency.

• He is sort of an angel investor in a number of Bitcoin startups. He has the peculiar habit of giving away coins for free, and is therefore aptly called “Bitcoin Jesus” by Charlie Shrem.

©2014 BitCoinRush


Yes, becoming rich with Bitcoin is the current trend! The valuation of this digital coin is soaring, with an increasing number of businesses gathering some real bucks from it.

For instance, Bitpay and Coinbase have adopted the unique way of charging a certain fee as they are empowering traders and merchants who accept this online cryptocurrency.

While this is some good innovative thinking, others are dealing with money-minting machines. These are in fact machines dishing out digital currency. The buzz has been so much that people have even started designing specific chips that follow the Bitcoin protocol for more effective mining.

The JUICY Part: Making money with Bitcoins Alright so much for the background and history here comes the good bits, how to make money through Bitcoins as well as other cryptocurrencie. Let us explore the different ways take you can use to make real money. Note: You do not need to use every method here to earn from Bitcoin. IN Fact, it is recommended for you to choose just one method and move on from there.

Method #1: Mining of Bitcoins Mining!!! Very known term in case of the gold industry, but why over here? Because, this type of mining is a computing procedure which helps in dealing with Bitcoins, keeps the digital currency in a protected


http://budurl.com/bitcoinbase


system and coordinates with everyone involved in that procedure to offer you a reward.

This process is open for dealers from anywhere across the globe, but not applicable for a particular individual as such.

First and foremost, you are required to dig a mine to accumulate money, but not with any hammer or chisel. This is a kind of dealing with Bitcoin through a combination of software and hardware which keeps the records of present and past transactions, which are known as ‘blocks’ and ‘block chain’ respectively.

This deal occurs within peers or acquainted groups through proper channels. When a user makes a transaction, miners charge their fees. According to the procedure of new registration, the miner’s name is required to be incorporated within a block before which a number of calculations take place within a very short span of time.

So, what are you thinking??? Come on, only a computer is required to count your penny! Isn’t that great? And yes, this computer or laptop is known as ‘mining rig’.

©2014 BitCoinRush


In fact, ‘mining rig’ is a combination of hardware and software. Before we set up a mining rig we have to enhance our area of knowledge regarding the hardware and software. The hardware is chosen mainly on the basis of two aspects:

1. Hash rate: It is used to perform plenty of mathematical calculations within a second. The units of measurement of hash rate are terahashes, gigahashes and megahashes per second. This hardware helps to resolve issues occurring within a transaction block.

2. Energy Consumption: This is indeed a big concern of today’s everyday life. A good quality of hardware consumes less energy and saves money. The unit is watt/second.



So, after knowing these two aspects we can move on to gather more knowledge regarding the hardware part. The hardware part is divided into three main categories. They are as follows:

1. Graphical Processing Unit (GPU): This hardware device increases the hash rate of Bitcoin. The GPU is characterized by the graphic card. This card is made with such customization that it can solve all complex mathematical problems and calculate polygons which are used in video games. Transaction block problems are solved with the help of SHA hashing which get support from the exclusive feature of graphic cards.

©2014 BitCoinRush


The card comes with a high value and provides valuable benefits. This hardware gives the opportunity to use options which are found openly. This system can also be used for other cryptocurrencies. For instance, the algorithm for Bitcoin, known as ‘scrypt’, can be used for Litcoin also.

Due to increase in the complexity of Bitcoin mining, ASIC mining system is used today as the GPU mining system is gradually becoming outdated.

2. ASIC Bitcoin miners: It is very much applicable in the current scenario with respect to Bitcoin mining and can be leveraged in place of the GPU. This system runs at high speed and consumes less electricity. The weak point is that it charges a high cost and consumes a considerable amount of time. The speed varies from 5-500 Gigahashes/second at the time of writing.



3. Field Programmable Gate Array (FPGA): This is a kind of circuit which is designed once the hardware is completed. To use this system a miner needs to buy a lot of chips and design the same in a customized manner for mining before installing them in the system. The system performs at a higher speed than the GPU. In case of a single chip FPGA, the operation occurs at 750 Megahashes/second.

Till now only the hardware part is discussed. It’s time to begin with the intangible part of Bitcoin mining, that is, the software component.

1. Bitcoin mining software: This part totally depends on the operating system of the computer like Mac OS, Windows, etc. This part directs the hardware to solve the mathematical problems to

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register the transaction in a specific block. The software is required for every kind of hardware part, even for the updated hardware ASIC.

(Refer: https://bitminter.com/ )

2. Become a part of a Pool: A pool is a team of miners, where you have to join to earn Bitcoins. This can be done by solving the easy problems of algorithm which joins with other miners’ small algorithms to solve a big algorithm, thereby increasing the chances to earn more Bitcoins.

(Visit https://deepbit.net/ for pool mining)


https://bitminter.com/

https://deepbit.net/


Facing problem to enter into a pool? Here is a guide to enter into the pool easily and quickly.

A. BTC Guild Account: The first step to enter into a pool is to create an account. The process is done through a pool’s website. This is similar to creating an email on a website where you only have to provide a username and password.

B. Worker Creation: The second step deals with the creation of worker account. Every computer gets involved with mining through its own logging system. The username gives the opportunity to mine through several computers with the same name.

3. Bit Coin Client: This is the network software which helps to keep in touch with the clients. This software assists in various ways with respect to advance dealing, tracing of block chain and so on.

©2014 BitCoinRush


Let us follow the steps to dig a Bitcoin mining rig:

• Step One: You require a safe place to keep the coins, which is known as a ‘Bitcoin Wallet’. It comes with two distinct kinds of keys, public key and private key. The public key is responsible for the inward transfer of Bitcoin and the private key is responsible for sending Bitcoin to others. Both these keys worked simultaneously at the time of dealing with cryptocurrencies. Four different types of Bitcoin wallets are found, they are as follows:

1. Hardware wallets: They are found very rarely. Herein, private keys are included electronically in order to make payments seamless. Some examples of hardware wallets are Trezor and the Nymi Sports wristband presented by Boinym.

2. Mobile Wallets: These wallets are not exactly full Bitcoin

clients. They generally constitute an SPV or simplified payment verification system, downloading a tiny segment of the block chain. Moreover, these mobile clients rely on various trusted nodes available within the Bitcoin network for incorporating the appropriate information. Some



instances of mobile wallets are the Kipochi, Mycelium and Blockchain. Kipochi has the innovative feature of allowing people to utilize the phone number as the Bitcoin address.

3. Desktop Wallets: Bitcoin-Qt, which is the original Bitcoin client, is in fact a desktop wallet. Apart from relaying network transactions, this software also allows the creation of a Bitcoin address for receipt and sending of the digital currency as well as for private key storage. Some of the other desktop wallets are Hiveis, Multibit and Dark Wallet, which is still in the developmental phase. Some of these wallets are customized to ensure security, Armory being one of them.

©2014 BitCoinRush


4. Online Wallet: These are in fact web-based wallets which offer online storage for the private keys, over a computer that has an internet connection and is under the control of someone else. A majority of these online wallets are connected to desktop or mobile wallets and possess the capability of address replication across different devices. These wallets come with the flexibility of online accessibility, irrespective of the place you are in or the device you are using. Blockchain and Coinbase have their own web-based wallets.



Coin base

Now, the next question that will come to your mind is regarding the level of safety that the Bitcoin wallets offer. Remember that the private keys you are storing in your wallet are the only means for accessing the stored transaction data. So, never lose these keys. Here are some ways to ensure more security for your Bitcoin address.

1. Encryption: One of the best means to offer protection to the wallet is through encryption with a powerful password.

2. Backing up: If you are using a single wallet for storage of private keys, there is the possibility that you will lose it in the event of the wallet getting corrupt or mislaid. Through backing up, you can create a copy of the private keys, and it is also important for you to generate a backup for the entire wallet.

3. Taking offline: If digital storage is giving you nightmares, then you can opt for cold storage within cold storage wallets. They offer storage of private keys offline, hence ensure that these keys cannot be hacked or stolen via the

©2014 BitCoinRush



internet. In fact, it is a great option to leverage cold storage for the major portion of your Bitcoins, and transferring a small portion to a wallet that is connected to the internet. In this way, spending becomes convenient and hassle-free. Alternatively, you can just utilize paper in order to go for offline storage, technically known as paper wallet. This can be obtained from a number of sites. Ok... now that you have a wallet... time to build a mining rig.

• Step Two: Build your mining rig. (Do a quick search on Google for

more intensive and detailed mining guides. There are many types of mining rigs and comprehensive guides to build one can be easily found online.)

The best way to build a mining rig is to follow the instructions here: http://www.cryptobadger.com/build-your-own-litecoin-mining-rig/ Always remember to calculate the cost of mining and it’s profits first before deciding on mining for Bitcoins/crypto coins or if you should be trading instead. Here’s a note to remember: Mining = Get coins by paying for electricity and mining rig. So be sure that you calculate how long it is before you actually profit. For example, at the time of writing and estimated cost in my country, the Cost of a mining rig (with 2 GPU cards – R9 280x) is around $900 (give or take). So if the electricity bill is $40 per month... and getting about 0.015 Bitcoins a day from (middlecoin.com), one would be getting around 0.45 BTC per month.


http://www.cryptobadger.com/build-your-own-litecoin-mining-rig/

http://www.cryptobadger.com/build-your-own-litecoin-mining-rig/


So if price of BTC is $650, 0.45BTC = $292.5 per month. Minus the electricity bill, you get $252.5 per month. At a cost of $900, it will take you roughly 3 and a half month to break even with your cost, and then after that, it’ll be estimated $252 profits per month. Note that the calculation above may vary in different country and different mining rig build and the cost of hardware available in your country. Of course if you want to earn more, the general way to do this is to Build MORE rigs with more Mining power (more mega hashes). But for starters, it is recommended for you to start with a lesser cost at first. The above examples are based on a GPU mining rig. For ASIC miners, you may pay more for the ASIC hardware but the good thing is, it produces less heat and noise and possibly consumes much lesser power as well. Again do your calculations before you choose the right mining rig that you want to invest in. WARNING: Always take into the calculation on the saturation of the coin that you are mining and the ever increasing difficulties that are associated with mining for best accuracies.

• Step Three: Connect your Mining Rig to a client such as CGMiner.

You can download CGMiner here for free at

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https://github.com/ckolivas/cgminer or do a search on Google for other miners.

• Step Four: Configure your mining rig. Note: you can choose to mine Bitcoins or Cryptocurrencies. For Bitcoin mining, it is recommended to join Bitcoin mining pools to maximize your mining efforts. For cryptocurrencies, you can connect your miner to services such as http://www.middlecoin.com/ for automated mining and payments in Bitcoin).

• End step: Start mining!

Calculation of Profit: The real part of enjoyment comes here. Genesis block helps to calculate the profitability and this is an important and mandatory criterion for the client prior to investing in Bitcoin mining.

The profit and respective time is dependent on various considerations like power consumption, hash rate, cost of your mining rig or equipment used and the actual Bitcoin price.

This largely depends on accessibility of network. The difficulty level of the network is established by the unit metric which decides solutions Note: The general rule is to mine if the prices of the coins that you mine are more than your costs which are your electricity cost and the cost of your mining rig. Also,


https://github.com/ckolivas/cgminer

http://www.middlecoin.com/


go to btc-e.com (or any other Bitcoin sites with the price) to take a look at the current Bitcoin price.

Note: The price at the time of screenshot shows USD624. That’s how much one bitcoin is worth at the moment of writing. The price fluctuates because many people are trading it... which is a strategy that we will now take a look at.

Trading the Cryptocurrencies It’s indeed fun to trade cryptocurrencies like Bitcoins and gain some good number of bucks in the process. Before learning how you can trade with Bitcoins and other cryptocurrencies, first it would be great to know how you can get these electronic coins. There are two ways,

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either you mine, or you buy. We are already done with mining. Now let’s take a peek into the buying part.

The process might at first seem a bit confusing but do not worry. Rest assured, it is as easy as buying something from the neighborhood market with physical money. Here is a step by step guideline.

(Visit https://cryptotrader.org/)

The first step: Creating a Bitcoin wallet

Of course, by now you know that it’s not the wallet that you regularly carry in your pocket! A Bitcoin wallet is in fact a program or a website which enables you to store Bitcoins and then go for transactions. The wallet service offered by the website comes free of cost, and it takes only a few seconds to sign up with the help of a password. You need to click a button at the top of the page prompting you to start a new wallet. You may also go for the official tool of Bitcoin.org desktop client, which will take some time to set up.

The second step: Tracing your Bitcoin address

Once the Bitcoin wallet is created, you need to login and then click on a button that says ‘receive money’ or ‘receive coins’. The page that


https://cryptotrader.org/


appears will display a ‘Bitcoin address’ which begins with 1 and is roughly around 34 to 36 characters in length. This address is in fact everything that you will require in order to receive payments.

The third step: Buying with cash

There are many popular websites which come with a search box wherein you can enter your Bitcoin address. Once you have done this, you will be directed to the page that will reveal every transaction that has taken place, either to or from your new address. If you are a beginner, then this address will definitely be new and hence there will be nothing to display.

Try out these great ways to buy as well as trade Bitcoins--- and you are bound to succeed! Remember that the most convenient means to get any cryptocurrency is to initially purchase Bitcoin and then trade through the same.

• Try out Coinbase.com for buying Bitcoin in America: Do not be distressed if you only have a bank account. Bitcoin can be bought from Coinbase, and that too quite fast and easily. This electronic currency can be instantaneously verified through Chase bank, hence if you are in possession of a few bank accounts, it is the most advisable choice. Interestingly, if you do not have the means to purchase a full Bitcoin (which is somewhere around $1000), there is the opportunity to go for portions. For a small sum of $10, you can get a little portion of a Bitcoin through Coinbase, something around .01.

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https://coinbase.com/

• Use Bitstamp.net for purchase of Bitcoin as well as Ripple: Bitstamp works on the same principle as Coinbase, but the latter is a bit faster so far as the set-up is concerned. Bitstamp works even when you are outside of America, and if you are interested in dealing with Ripple, you can also go for that.

Visit https://www.bitstamp.net/

• Through BTC-E.com, trade or day trade Bitcoin against Feathercoin, Novacoin, Primecoin, Terracoin, Namecoin, Peercoin and Litecoin: For all those who are game for trading, Bitcoin can be traded against all these other mentioned cryptocurrencies, at BTC-e, the most acclaimed and well-known Bitcoin trading exchange. It is one of the most convenient and effective ways for daily trading or day trading of cryptocurrencies. BTC-e works with a lot of speed and has high volume. This is perhaps the only place which makes day trading possible.




https://www.bitstamp.net/


Visit https://btc-e.com/

• Trade Bitcoin against any cryptocurrency through Cryptsy.com: Although Cryptsy does not make room for quick trading, it has for sale a few of the smaller and more obscure cryptocurrencies.

Visit https://www.cryptsy.com/

©2014 BitCoinRush

https://btc-e.com/

https://www.cryptsy.com/


• Trade a range of cryptocurrencies with low volume but considerable speed through BTer.com: In BTer, you can find an exhaustive list of cryptocurrencies, although if you are looking for day trading, it does not have sufficient volume. It is somewhat faster than Cryptsy, and enables trading in popular markets of BTC or LTC.

Visit http://bter.com/

Some simple guidelines for convenient trading

There are certain tips and tricks through which you can get the best out of trading cryptocurrencies. Go through these guidelines and you will definitely shine in your every trading transaction:

• Do not go for biased sources: If you opt for biased sources, there are high chances of things going severely wrong. Remember that many people are posting on websites just to lure cryptocurrency traders, so as an investor you should better avoid them. It is always advisable to seek advice from unbiased and trusted sources, and then decide on investment accordingly.

• Know your means and then invest: This might seem a casual statement but it is very important, for both newbies and veterans. Do not make the blunder of putting everything into the world of


http://bter.com/


digital currency. This holds true for every investment venture that you undertake and you must investment according to your capacity. If you make a wise investment plan, then definitely you will flourish.

• Do not set goals that are not achievable: Digital currency can indeed make you rich, but you must understand the fact that it is not a scheme that you should leverage for getting rich overnight. In case you are a millionaire you can always take risks, or else it is always good to make a realistic calculation regarding your return on investment, whatever the percentage may be. You must adhere to the goals that you have set for yourself on a long-term basis, so that you can emerge as a winner even when the market is chaotic.

• Never get into the panic mode: Take some time and carefully study how the market situation is taking shape. You may even solicit the advice of an expert regarding this. But never panic or make hasty decisions.

• Guesswork might not be reliable: Alternative currency markets may behave erratically sometimes, but if you can exploit them properly, these markets can be immensely profitable. Even if you are an experienced investor, do not go for the anticipation game, but instead make a careful study of the ongoing trends and act accordingly.

• To err in human: Yes, believe in this old and time-tested maxim. If any mistake happens in trading, do not waste in repenting, but learn from that mistake, pick yourself up and become ready for the next game.

• Chart out your course of action: For any investment or trading, it always pays to follow, read as well as interpret the happenings of the marketplace. Always go for real-time tracking and indulge in buying or selling based on long-term data.

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• Be educated: To succeed in any game, you must know the rules of that game. Learn about these digital currencies and apply your knowledge during buying or trading. The more you gain knowledge, the more sure you become in this world of high volatility.

• Enjoy what you are doing: Love the digital world that you are in and do not always look at the ups and downs. Instead have fun in the investment itself and enjoy the best digital currency experience. Note: We will take a closer look at different trading strategies later on (Buy and Hold Strategy and Arbitrage Strategy).

List of ways to earn with Bitcoins and cryptocurrencies.

Now that you have learnt how to mine and trade in Bitcoins and cryptocurrencies, here comes a big blockbuster for you. Next we are going to give an overview (or you can say, a synopsis) of some of the different methods by which you can earn Bitcoins. It also includes mining and trading; no repetition meant, it’s always good to have a recap!



1. Accept Bitcoins as a mode of payment

This is perhaps the most convenient means to earn Bitcoins. In case you are the owner of a small business, the integration occurs seamlessly and quickly, irrespective of whether you own an online business or a brick and mortar shop. Completion of the following steps will simply do the thing for you:

• You need to get a free Bitcoin wallet (by now, you already know what a Bitcoin wallet is) from sites like Blockchain.info.

• Following the creation of the wallet, you are required to display a QR-code along with the Bitcoin address just by your cash register. Any of these two methods can be adopted in this case.

Once the Blockchain.info (as mentioned earlier, you can go for other sites as well) account is established, go for ‘Receive Money’. From the drop-down menu ‘Actions’, choose ‘QR-code’.

Herein the image needs to be printed out together with the QR-code and placed by the cash register. Your clients would most probably possess a smartphone in which the Bitcoin app is installed, so that they are capable of entering the purchase value in EUR or USD.

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Automatic calculation of the equivalent Bitcoin value will be done by the app, wherein the existing exchange rate is taken into consideration. Once this is done, the confirmation of the incoming payment will be confirmed in the account.

For using the other option too, you need to start off with ‘Receive Money’ and then click on ‘Create Payment Request’ from the ‘Actions’ drop-down.

Now, the Bitcoin amount that should be paid by the client has to be entered and once this is done, the QR-code corresponding to it would be displayed. This becomes easy for the customer, because he is not required to enter any amount.

To follow this methodology, compute the Bitcoin amount against the corresponding USD or EUR price prior to entering it for generation of the QR-code.

• It would indeed be cool to exhibit your unique payment integration mode for people to see as they enter your shop. At the entrance, stick a prominent ‘Bitcoin accepted here’ icon to catch the attention of your customers.

• The logo’s printable version is easily available across the internet. Now that you are completely prepared, start earning those exclusive digital currencies by simply selling your services and goods.



2. Complete tasks on websites and add free Bitcoins to your kitty

There are a number of websites which come with the proposition for earning free Bitcoins. Many of these sites work on the principle that helps you to earn a little amount of Bitcoins just by going through the site. It is something like watching a number of ads one after the other and getting what you want (may be music clips or a film), somewhere in between.

While opting for such sites, remember that the return on investment that you are getting might be very little. Here, you are investing your precious time to go through these advertising sites. Given this, there are indeed certain interesting portals which are worth trying:

• BitVisitor: Here you get to earn coins simply by watching videos or websites. Every page appears for a period of five minutes, following which you can click on the ‘Next’ button and move over to the subsequent page.

The payouts will take about an hour to come to you, which is a major competitive edge of this site in comparison to others. All you need to do is enter the Bitcoin address, a user account is also not required.

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For every five minutes of your online stay here, you are paid around µBTC 100 (which is roughly equivalent to BTC 0.00001 or 100 microcoins). Going by this calculation, the hourly payment amounts to the amount of BTC 0.00012. However, there may be variations in payments of this per five minute basis. (http://www.bitvisitor.com/)

• Freedigitalmoney.com: This site enables you to obtain rewards in the form of Bitcoins for making purchases with these digital currencies. Here also, a user account is not required, but you are simply required to enter the Bitcoin address for getting started. (http://www.freedigitalmoney.com/en/Home)

• Coin Worker: This site offers Bitcoins in exchange for completion of analytical tasks. Here you need to possess a user account and the good news is that the payouts are a bit on the higher side. (https://coinworker.com/)

• BitcoinPlus: In order to earn Bitcoins, all you need to do is provide computing potential to a mining pool. One very nice thing about being on this site is that you are not required to invest your precious time in this activity.

You can engage yourself in other stuff and simultaneously, your computer operates in the background. The consumption of electricity may be on the higher side due to the CPU usage.

Hence, while you are operating on this site, ensure to reach an equilibrium taking into consideration the parameters of electricity cost, hardware consumption and the existing Bitcoin value with respect to your account. If you can turn it into a profitable activity, the rewards are indeed great! (http://www.bitcoinplus.com/)

• Rugatu: You can earn Bitcoins here through delivering answers to forum questions. This is great for community and network building as it builds people with similar interests (that is, interest


http://www.bitvisitor.com/

http://www.freedigitalmoney.com/en/Home

https://coinworker.com/

http://www.bitcoinplus.com/


in Bitcoins and other cryptocurrencies) close together and offers rewards for answering the questions.

Indeed, this would never have been a possibility without a digital currency such as Bitcoin, which makes room for instant real time transfers at low transaction fees. (http://www.rugatu.com/)

• FaucetBTC: A simple visit to the site and a look at the ads will make you earn Bitcoins. Many sites are available such as this. For getting started, follow the step by step procedure of entry of the Bitcoin address followed by filling out of the CAPTCHA. This process can be repeated once in every half an hour.

The pay per visit amounts to around BTC 0.0000025 and is subject to change with the rise in Bitcoin exchange rate. Once the visit is over, the reward gets delivered to CoinBox.me.

This tends to accumulate small bits of payments, and then combine them to offer a bigger lump sum. You may opt for simultaneous visits of many sites like this, which will offer you the opportunity to earn as well as keep yourself engaged for a considerable period of time. (http://faucetbtc.com/)

Although the income is not huge, completing website tasks is a great and enjoyable option, and it will indeed help you generate some amount of Bitcoins. In the process, you will also be well-versed with seamless money transfers and the types of services that the process enables.

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http://www.rugatu.com/

http://faucetbtc.com/


3. Mining for earning

We have already discussed the process of mining, but it won’t be bad to have a quick recap here. As you know, through the process of mining, new Bitcoins are born.

As you indulge in the mining activity, the computer being used accumulates new transactions for building up the block chain (this is in fact the public ledger which stores every Bitcoin transaction) along with finding out new blocks.

The block is the file where you can locate the most recent transactions. As your computer comes across a new block, you get a certain amount of Bitcoins. As per the existing norms, presently one block has BTC 25. The number varies with time and can get reduced by a factor of 0.5.

It is always advisable to go for an analysis of the cost against the benefit obtained before you indulge in mining. The profitability of Bitcoin mining is controlled by factors like electricity costs, hardware prices and the currency value. If the process of mining interests you, go for your first calculations over the Mining Dashboard.

4. Accumulate Bitcoins through interest payments

This is a process wherein you earn by working on the Bitcoins that you already possess. You simply lend the currencies and earn them through interest payments. Various options are involved in this.



• Direct lending to someone you are acquainted with: This makes room for personal assessments with regards to the trustworthiness of the borrower.

Both of you need to reach an agreement with respect to certain terms such as interest rate, duration and such other things. Chances are high that there won’t be many acquaintances matching your interest rate, duration or amount, but even if you get a couple of them, it is a good option.

• Websites promoting peer to peer lending: These websites, having listings from a number of borrowers, are a good option, a great example being Bitbond.net. In these cases, publication of funding requests is done by borrowers and you can make your contribution to their loan.

Thinking about the risk?

Well, in order to diversify the default risk, the wisest option is to fund little portions of a number of loans. The operating principle is somewhat similar to fiat currency loans.

As the loan is funded, the borrower receives a certain amount, which he has to repay over a stipulated time period, along with the interest accrued.

Remember, that for peer to peer lending both the borrower and the dealing website need to be trustworthy. When the assessment as to the creditworthiness of the applicants is done by the site, the information that you obtain regarding the borrowers can indeed be more credible. (http://bitbond.net/)

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http://bitbond.net/


• Bitcoin banking: This is an earning model wherein the Bitcoins are

deposited with the concerned bank which then pays a fixed interest rate to the depositor.

Here the advantage is that diversification across many borrowers is not done, but you place your deposit in the Bitcoin bank and earn these currencies steadily as a source of income from interest. Since you are relying on a single borrower, that is the bank, just make sure that the bank is efficient enough to keep your funds safe.

After obtaining deposits from your end, the bank invests them in assets, generally in the form of loans. So if the bank is doing a good job, your interest payment will flow in smoothly. Remember, there is no deposit insurance, so far as the world of Bitcoins is concerned.

On the whole, Bitcoin lending is a great option to earn some extra bucks in the form of these digital currencies. The only thing that you need to be cautious about is the trustworthiness of the source or site in question. These sites will have their own terms and conditions along



with contact details and incorporation status. Go through them carefully and do additional research if it is so required.

5. Accept tips and earn Bitcoins

This procedure of earning Bitcoins through getting tipped is very much similar to obtaining Bitcoins as a payment mode. Here also, you require a wallet along with a QR-code having the Bitcoin address.

Again the people from whom there is the possibility of getting a tip need to be aware of the same. A number of places are available wherein you can obtain handsome tips in the form of these cryptocurrencies.

• If you possess a shop, that is the first place to initiate the process. The procedure is all the more convenient simply because, since people give tips voluntarily, you do not require keeping a track of the incoming payment or the exact amount that you are earning. All you need to do is check every day’s earnings by displaying the QR-code.

• There is also this advantage with getting tips- you do not even need a shop. It is more than enough to operate through any website or blog. Simply display the QR-code or the Bitcoin

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address at any position within the page and rest leave it to people as to how much tip they would like to give you.

• There is still another innovative way. Suppose you are running a bar or a restaurant and would like your customers to tip you. In this case there are websites like ‘bctip’ which offers the opportunity to take print outs of tiny paper vouchers, each of which exhibit a particular Bitcoin balance. Once your customer is in possession of any one of these vouchers, they may simply hand it over to you or your staff, which can then be redeemed just like a coupon.

6. Get a regular income from Bitcoins Have you ever considered receiving your monthly paycheck in the form of Bitcoins? Sounds a bit weird and funny, right?

Well, this is one of the steadiest ways you can adopt to earn Bitcoins. Although most organizations would not opt for paying through Bitcoins, there are few who would prefer to. In the near future, it is hoped that with the increase in the popularity of Bitcoins and other cryptocurrencies, the number of such organizations would definitely increase. You would love to know the fact that Gavin Andresen, the prime Bitcoin developer associated with the Bitcoin Foundation, gets paid himself in the form of these cryptocurrencies. Just check out whether your employer accepts Bitcoins; in that case they would definitely be eager to pay you through the same means.



On a different note, self-employed people can also get paid in Bitcoins. Here is a look at some of the sites which pay in Bitcoins and where you can look for job offers and also post jobs, if you like. The mode is a seamless one, because many jobs here involve completion of the work from home.

• ‘WorkForBitcoin’ offer you the opportunity to search job listings as well as post them. Programming related jobs constitute a majority. Work in other fields is also available, so you can always find something that you are good at and that interests you. (http://bittask.com/)

• ‘Bitcointalk’ Forum Services Section is another viable place to search for jobs that help you earn Bitcoins. Many of the jobs here can be done within a short span of time and hence you can earn your digital currencies swiftly. (https://bitcointalk.org/)

• ‘Jobs 4 Bitcoins on reddit’ concentrates on dishing out job listings mainly for programmers. But here also, you are capable of searching jobs in other fields as well. (http://www.reddit.com/r/Jobs4bitcoins)

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http://bittask.com/

https://bitcointalk.org/

http://www.reddit.com/r/Jobs4bitcoins


• Another online job board which comes with a range of job offers is ‘BitGigs’. Check out the variety of jobs available- it is sure to hold you spell bound! (http://bitgigs.com/)

• ‘Coinality’ is another job site that deals in cryptocurrencies. However, unlike other such portals, it follows the innovative approach of listing the jobs as well as displaying them over a map. The benefit- you can definitely realize that, more so when you are on the lookout for a local job. (https://coinality.com/)

If you are not game for these methods, how about starting your very own Bitcoin based business? In order to earn these cryptocurrencies, you can either go for a full-fledged business dealing in services or goods, or you may simply operate a website and incorporate ads. There are many resources which gives you the proper knowledge on integration of Bitcoin payments with your business.

7. Make MORE Bitcoins by indulging in trading. Arbitrage Strategy We have already discussed the possibilities and procedures of trading in Bitcoins, but here, let us discuss the safest way in which you can trade, which is arbitrage (buy high sell low or buy other cryptocurrencies and convert them to Bitcoins at the right time).

The simple meaning is that once you come across an opportunity for purchasing an asset in a particular place at a particular price, you immediately sell it off at a different place, in exchange of a higher price. Remember this is not gambling, here it is vital for you to know that the asset can be immediately sold at a certain price.


http://bitgigs.com/

https://coinality.com/


In the world of Bitcoins, arbitrage opportunities are plenty. But you might often come across price variations amongst exchanges caused as a result of access restrictions or swiftness of fiat money transfers.

However, by carefully going through the price variations existing between exchanges, you can indeed locate solid opportunities for yourself.

Simple speculation can also help you earn Bitcoins through trading. Herein, you purchase the digital currencies, keep your patience till the price soars and then sell off the same in exchange for fiat currencies. Once the price comes down, you may also purchase more Bitcoins. For this, you need to be an expert at identifying patterns through interpretation of price charts, which will definitely come with practice.

IMPORTANT NOTE: Always try to keep yourself up to date with the latest news of Bitcoins and its fellow cryptocurrencies. This is because the market price usually moves according to news and fundamental factors. For example: If a country announces their acceptance to Bitcoin, then the price will shoot up and vice versa. Arbitrage strategies are usually very short term. That means, you buy when the price is low (usually this occurs at certain times of a day –

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monitor the trend), and sell immediately when the price is high (once you reach a comfortable profit zone). One must be much disciplined and make sure not to give in to greed. At BTC-E, you can monitor the trends easily, and you can even use the automated system there to set your buy and sell price. This automation makes it very easy for most people to effectively implement their arbitrage strategies without having to constantly stay in front of their monitor.



The Buy and Hold Strategy In order to understand the buy and hold strategies related to Bitcoins and other cryptocurrencies, first and foremost, you need to know what the buy and hold strategy generally means.

It is in fact a passive investment scheme wherein the investor purchases the stocks and holds these for quite a long period of time, irrespective of the fluctuations that the market is experiencing.

Anyone who employs this strategy goes for an active selection of stocks, but takes little interest in technical indicators or price movements taking place on a short term basis.

It has been seen that my investing experts that when the time period is a long one, equities offer a higher return in comparison with other asset categories like bonds.

However, there is a long and never ending debate as to whether the buy and hold strategy is more effective in comparison to the active investing one. The arguments have not yet reached a conclusion, but before we move into our topic of buying and holding Bitcoins, it can well be said that this strategy generates tax benefits, since lower tax rates are imposed upon long term investments as compared to short term ones.

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So, how feasible is the buy and hold strategy for Bitcoins and cryptocurrencies in general?

Although things are gearing up, considering the present market, very few retailers accept cryptocurrencies as payment, the major three being Bitcoins, Peercoins and Litecoins.

Interestingly, positive fluctuations in Bitcoins have enhanced investor faith in the cryptocurrency category as such. With the passage of time since the official launch of Bitcoin in the year 2009, the world has witnessed a mammoth rise in the price of this currency, from $1 to more than $1000.

Although the primary purpose of cryptocurrencies is to purchase goods, alternative investment strategies are also being thought of. The buy and hold strategy has become a popular proposition as presently, investors are more keen to hold cryptocurrencies in the form of a speculative asset instead of as an actual currency.

Now the question is, exactly why the buy and hold strategy become so popular with respect to Bitcoins and other cryptocurrencies?

We know that investors, who are making Bitcoin an integrated part of their portfolio management strategy, are indeed looking for a plethora of trading options.

However, the most profitable among them has been the buy and hold strategy. In fact, in the year 2013, the return on investment on Bitcoins with this scheme was 6338%.

The number rose from 13$/btc to 824$/btc. The reason behind this value enhancement is the increased use of this cryptocurrency in combination with the enhanced popularity across the globe.

Again, because of the comparative difficulty in mining, Bitcoin users have shifted their attention more towards direct investment in place of creation methodologies. In spite of the huge market volatility, this



strategy is a time-tested one, with respect to Bitcoins. The general rule of thumb here is this, if you believe in the future of Bitcoins and Crypto currencies, and that you know that the price in the future will be 10x or 50x more... then the smartest thing to do is buy as much as you can NOW, while the price is still low, and sell them off and take a HUGE ROI when the price shoots up again... in the NEXT wave. The risk is there, but the return will be phenomenal! Other Investment Strategies: Seeding This investment strategy, prevalent majorly in the private equity sector, involves the investment of small amounts of capital by venture capitalists on manifold start-ups which are in their initial phase of development.

The main goal of such a strategy rests on incurring high returns on investment in the event that any of these start-ups is a success. This strategy is effectively applicable to alternative currencies such as Bitcoins and other cryptocurrencies such as Litecoin.

Speculators looking forward to huge profits have a lot of confidence on these alternative digital currencies, and hope to derive huge benefits by exploiting the first comer advantage.

Basket Trading The basket trading strategy is considered to bear lesser amount of risk than the seeding strategy. Here also the traders get the first comer advantage. This is in fact a procedure where comparatively older digital currencies are traded for a basted of the newly created currencies. The

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assumption is that the upside potential of the latest ones is lesser compared to the new digital ones.

What the Future holds

With all these mining, purchasing, selling and trading around, the thought must have struck in your mind as to what lies in the future. Although by now, you must have comprehended the future of Bitcoin, it won’t be wrong to speculate a little more. Here is a brief discussion.

The present scenario Let us consider one by one. The biggest and the most popular cryptocurrency no doubt is Bitcoin, with a market capitalization of USD 10 Billion, a merchant support of around 100,000 locations across the globe, an amazingly effective computing infrastructure and an increased acceptance by millions worldwide in exchange of product or services.

Litecoin comes second in size and in comparison with Bitcoin; it is 5% in size. Peercoin finishes third with 1%, with a lot others following.

There is a different strategy with respect to each coin and exhaustive testing has been done for all versions of distribution, funding and operation. Moreover, second generation digital currencies such as emunie and NXT are coming up with enhanced features.

Given this, and all the activities that are taking place across the world, cryptocurrencies are indeed promising. Compared to previous money forms, these are resistant to friction and also possess the exclusive features of security, speed, anonymity, low fees along with safety against theft. The only crucial thing is that one has to gain considerable



knowledge about the process, which is different from the conventional practices that are applicable to government money.

A look at 2014-15

In the current scenario, NFC enables credit cards offer a more convenient payment method in comparison to Bitcoin wallets, but if speculations and predictions are to be held true, there is little time left for the gap to close.

Maybe it will take only a year for Bitcoin to create an ecosystem that is more effective and convenient in comparison to conventional financial services. The great combination of cryptocurrency enables hardware devices and our mobile phones will make room for safer and quicker payments across the internet.

If the projections of the experts go right, the world will see hardware cold storage wallets in about a year. These will trigger safe and easy cash transfer between cash and savings wallets. In the near future insurances and backups against theft and loss will also undergo automation.

Experts are foreseeing stabilization in the price of Bitcoin somewhere within 1000 to 10,000 within a couple of years, as there will be complete penetration of Bitcoin amongst those looking forward to investment diversification.

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It has been seen that on an average, a person spends around 100-300 US dollars in order to receive the paycheck via wire transfer, that too, after waiting for a period of around 2 to 4 weeks.

There will expectedly be a shift in this phenomenon as employers and employers will increasingly consider salary payments through Bitcoin on a regular basis in case of local currencies.

This will help in the reduction of fees along with enhancement of safety and speed. We will definitely see the rise of Bitcoin acceptance amongst freelancers.

In another year or so, it is expected that 1 in every 20 persons will be a regular user of Bitcoin in the developed world; enjoying the positive effects along with the savings benefits on every payment form.



With the increased possession of Bitcoins, there will also be a rise in acceptance of Bitcoins by small merchants.

In this way they will be saving a small percentage on the fees, which in turn can indicate double profit, since many operate on small margins. So, you can definitely expect a number of small merchants to accept these digital currencies in a few months.

Soon we will witness the large scale uses of Bitcoins as escrow companies enable two parties to trade with a lump sum of these digital currencies, thereby cutting down on the fees, and making Bitcoin more preferable than the other currencies.

However, in the immediate future, you might not see Bitcoin hitting the mainstream, as government currencies will still dominate. For Bitcoin to enter the mainstream, you have to wait for some time more. However, in the meantime, there will be governments or financial institutions making an attempt to put conventional currencies over a Bitcoin regulating system such as Blockchain.

In this way, they would be taking advantage of the cryptocurrencies.

And there’s more! The second generation of crypto coins has already started growing, and will probably grow up to 1-5% of Bitcoin very soon, offering not only monetary benefit, but also other services as well. To mention a few of these accessory services, we will have file sharing, messaging, trading, contracts, along with other features which were not available earlier in such an accessible as well as simple way.

The future as seen from 2015-2025 By this period we will definitely see some newer approaches to cryptocurrencies. Bitcoin along with other counterparts will be transacted through certain transparent, open systems, which would

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come up with a frictionless and standard methodology for management of decentralized, government and privately issued cryptocurrencies within a single application.

Such a system will do away with the advantages and risks across various systems, thereby creating hale and hearty competition amongst economic models that different coins represent. This means that money will be functionally optimized in real time.

It will be common for a number of people and organizations to hold thousands of digital currencies, through the new system, which will conceal every complexity coming in the way of mass adoption of these cryptocurrencies.

We will also be frictionless, automated trading among the currencies through the creation of intelligent wallets that will help in shuffling the currencies depending upon the risk level which the user can tolerate.

Again, personal values together with cultural preferences will also influence the ratio in which a person is holding different types of currencies. It will expectedly be unique for every person and will also alter with the changing trends, something like musical preferences or fashion statements. Interestingly, we might also witness mobile or web apps matching single people on the basis of the cryptocurrencies held. Cool, isn’t it?

In order to receive or send payments organizations or people in general will be empowered to select the ratio and mix of different currencies which they want to send or accept. The conversion amongst these currencies will be automated and will also maintain transparency so far as users are concerned.

Non-crypto currencies might be on the verge of becoming obsolete due to the comparatively poorer utility, but they will still occupy a certain position because of the government’s hold on financial matters. Government currencies will be purchased for paying taxes and the merchant not accepting crypto coins will also be using the same.



In the future year spanning from 2015 to 2025, you will definitely find banks offering a range of services revolving around cryptocurrencies. Moreover, the future might bring in good news for the world at large by lifting the living standard of the poor residing in the developing nations through the circulation of Bitcoins.

Taking a glance at the long term future- looking through 2025 to 2050 It’s indeed a projection taking into consideration the long future. By 2025 or beyond, technological advancements will definitely reach a sufficiently elevated level, relieving a majority of the population from indulging in any kind of hard labor.

With so high an automation combined with elevated living standards of the rich as well as the poor, all activities calling for validation of authenticity, will most probably be governed by a multidimensional and highly optimized blockchain. We will witness cloud wallets running on quantum computers, which offer storage facility for everything.

Strikingly, the role of money will diminish, and the upcoming version of Bitcoin will determine the social status, as it becomes a convenient mode for availing goods as well as a range of other services or facilities.

Some great things again, if the projections hold true! People across the globe would be increasingly using a common currency known as time coin. The interesting part is that human life seconds will in a way determine the time coin’s value in certain basic physical way. People contributing to the welfare of others will be able to earn coins, and will be empowered to buy more life time through a range of life extension facilities. A whole new world, isn’t it?

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Getting started with Bitcoins: a quick look

Using Bitcoins

1. Understand the potential of Bitcoins and pick a method first that suits you.

2. Select the type of wallet that would suit your needs and download it. SECURTIY NOTE: Make sure you do not forget or share your wallet’s password around. Use a very good password and make sure that you have a backup copy of your wallet at all times.

3. Earn Bitcoins using the method of your choice.

4. Spend Bitcoins to avail goods and services or hold your Bitcoins and sell them off for cash at a very good price (many people believes that Bitcoin’s price is just on the baby stage at the moment and it will hike to a very high price in the future).

The future of currencies is here, it is up to you now whether or not you will be a part of this mega money maker and make a great amount of money from this trend... or if you will miss out on this modern gold RUSH! Start gathering your Bitcoins today and when the price shoots up again, you could be the next Bitcoin millionaire.

If this report has wheeted your appetite then we have an exclusive offer for you why not join our Private members only

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Documents

BITCOIN MILLIONAIRE! · Bitcoin Millionaire Report 5 With all that being said….it all revolves down to one thing…why should you care? Well, it’s all about the money, and there’s