blog: info about bitcoins

If you are interested in the world of bitcoins, I am putting here some info, making clear how to make the first steps into this workd, but beware the dangers because in een anonymous world, bandits can operate almost legit!

info about bitcoins

Bitcoin is an electronic currency, which you can do transactions with, like buying a host like my website. The bitcoin should be virtually "mined". Every day a certain amount will be released to people who dig the bitcoins (mining). This is done by using the power of computers, which costs a lot of electricity = money. These miners make also the transactions between accounts possible (they write the new bitcoin amount on the recipient and deduct that amount from the sender) so they ask a fee for doing these transactions.

4th November 2021 one bitcoin is worth more than 54 000 euro so they subdivide: 1 bitcoin = 1 millon bits and 1 bit = 100 satoshi
You will experience earning bitcoins is actually earning satoshi; else you would earn 0,00000250 bitcoin = 250 satoshi (8 digits after the comma)

There are forks of the bitcoin (some miners break up making a copy the bitcoin blockchain at that moment and going a seperate way under another name like bitcoin cash, bitcoin gold..) But nothing above the real original bitcoin!

you need a bitcoinadress or wallet

To receive and send satoshi you need a bitcoinadress. There are several sites where you can create one. There are app-wallets, cold-wallets. Exchanges also have wallets but you should be aware of the ownership: you need to have access to the private keys of the wallet (random 12 or 24 words).
Therefor I bought a ledger nano usb-stick (around 70 euro) where I hodl ( = holding long time ) my heavy coins. Coins I play with, i have on the exchange binance.

making money: faucets & autofaucets

Surf to a faucet, this is a website that sends you a small amount of satoshi for seeing their advertisements. There are sites that ask you to proove you are not a robot claiming/stealing this money without seeing the ads, by doing a captcha. Because faucets pay a small amount, you need to save (= risky to lose when sites disappears suddenly) until you reach a larger amount to get it on your bitcoinadress. Micropayeers like faucethub is the solution: the earnings from these faucets go straight to that micropayeer; the money is yours! And when you reach a threshold like 10 000 satoshi you can get a withraw to your own bitcoinadress.
There are also autofaucets: skip a few interstituals, let the webpage open and every timeperiod satoshi is going directly to your account.

autofaucets how a faucet works

my favorite faucetslist

my own faucets and game

I made a game of my own working: duckhunting where you can get a tiny payout (one euro or one dollar) also in cryptocurrency.

As I like also doing programming, I play creating new games on the duckhunting; it started with doing a quiz.

go to duckhunting

making money: trading

In the beginning I traded on, but actually it is margin-trading, with borrowed money where I lost over and over my money when markets fluctuated too heavily. Nowadays I trade, stack and earn on liquid swaps on the app binance. Not with margin (borrowed) but with spot (my own) coins. I explained on a few pages how it works: read them if you want.

check my info about binance

making money: blog

You can send an amount of bitcoins to a website, wait for a while to withraw and earn a higher percentage than you invested. This is a very dangerous business because most of these site are piramid sites: they pay the first investors with the money of other investors so after a while no one gets paid anymore. I used a website that monitors these websites, but despite this, it stayed risky! Invest only money you can lose (like the lottery)

I post also kind of a blog about my first scam-experience. I am not doing this anymore, but now I am trading with bitcoins on exchanges, hopefully with more luck.

check what I did and do

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