Everyone wants to know about Bitcoin these days. It continues to defy the odds and the pundits to keep climbing ever higher. Do you feel you’re missing out? Well, it might too late to get in on the ground floor with Bitcoin, but it’s not too late to start understanding how to buy it and how to hold onto it. There are many more cryptocurrencies out there as well. In this short ten-minute podcast, I talk about how to buy bitcoins, and the difference between wallets and exchanges.
To listen to the podcast, visit my Blubrry page here.
Check out my professional blog posts dealing with Bitcoin, cryptocurrencies (I hate that term!) and blockchain technologies at the investment and wealth website ValueWalk.com.
Choose a Wallet by checking out the selection at Bitcoin.org.
Check out some useful exchanges for buying and holding Bitcoin and other currencies. Be sure to do your homework first, to ensure the rates and terms of any exchange match your requirements.
Bitcoin and crypto investment is risky and volatile, and really requires your daily attention. Don’t forget I am always available to speak to your group or association on how to understand cryptocurrencies and blockchain technology. Check out my speaker page for more details.
I write for the finance and investment website ValueWalk. My post entitled I See a Black Moon Rising is now online. Here is an excerpt:
When companies launch their ICO, they issue crypto tokens in exchange for investment cash. The tokens are built on top of the blockchain platform, and their owners can trade them as they wish.
Sergey Vasin, Chief Investment Officer of Blackmoon points out, “Tokenized funds are more cost-efficient thanks to lower infrastructure and setup costs…This economy is transmitted to investors in the form of higher net return. For the cherry on top, fund tokens are also immediately tradable.”
This new economy gives rise to two major opportunities. First, the token-based investment process should be more transparent and auditable due to its blockchain roots. Secondly, this improved “open book” approach offers the potential to expand the market beyond cryptocurrencies and incorporate fiat currency into the portfolio.
I write for the finance and investment website ValueWalk. My post entitled Bitcoin And The Future Of Futures is now online. Here is an excerpt:
Some retailers around the world already accept Bitcoin, but they do so on a spot market basis, exchanging the bitcoins for their own currency within seconds of acceptance. Some might say that demotes the status of Bitcoin to a mere novelty version of money, since it cannot stand on its own. Others will say the transaction is on par with any other foreign currencies that retailers might accept at the day’s exchange rate.
Volatility is the problem that leads to the question, “Why can’t Bitcoin be purchased on a futures market like oil?” Oil also has an issue with volatility, as can be seen every time a major refinery catches fire, or an oil producing nation decides to turn the taps off. But with oil and other commodities, futures are based on a delivery of tangible product, like an actual barrel of oil or bushel of wheat. With Bitcoin, there are no actual coins, there is simply the value of those coins, agreed upon by its users and miners, and based on faith paired with scarcity.
I write for the finance and investment website ValueWalk. My post entitled WannaCry, Mixers, And Bitcoin Wallets is now online. Here is an excerpt:
Amid the furor of the August 1 Bitcoin Fork, another interesting thing happened. The individual(s) behind the WannaCry ransomware attack started to empty their bitcoin wallets. The $140,000 worth of bitcoin they originally collected gained about 20% more in value during the split, and it was around that time that the virtual money started to move.
The activity was detected by Keith Collins of Quartz, who used a bot to watch for movement in the accounts. The bot observed the initial withdrawal of $70,000, which was then followed by additional amounts from other bitcoin wallets until all the money was gone.
I write for the finance and investment website ValueWalk and I posted my commentary entitled What Is Ethereum And How To Buy It? there today. Here is an excerpt:
Let’s start by getting the terminology straight. Ethereum is an open source code designed primarily to govern smart contracts on the blockchain. A smart contract is any contract between parties, especially those that lack a level of trust or credit rating. An example may be the sale of fair trade coffee. How would a wholesale purchaser know the coffee is fair trade? They would feel much more confident if the entire coffee production and preparation process was verified and incorporated into a smart contract that itself is sealed immutably inside a block on the blockchain. Ethereum allows developers to build their own apps on its open platform.
Part of the Ethereum code is Ether, described as the fuel that makes the contracts work. It can also be seen as a currency of sorts, and may emerge as a competitor to, or even replacement for Bitcoin, depending on how the lava flows. Ether is presented in coins, and can also be referred to as an Ethereum coin.
I write for the finance and investment website ValueWalk. My post entitled How To Buy Bitcoin: A Guide For Beginners is now online. Here is an excerpt:
First, the Wallet
You’ll need a wallet. Not a nice leather billfold, because Bitcoins are not physical. There are no coins and no paper bills involved. It is all virtual. The Bitcoin wallet is an app that you can download to your phone, and your computer. It contains two 16-digit passwords: one is called a public key, and the other is a private key.
Quite simply, when you buy Bitcoin, your wallet sends your public key information to the vendor, the same way you would enter a credit card number into an online form. The public key tells the vendor’s app where to send the Bitcoin amount. The private key is the password you employ to confirm the transaction from your end. This one-time code is reviewed by the computers on the blockchain, who then approve the transaction unanimously as representing your receipt of a certain amount of Bitcoin. Once the code has been accepted by the computers on the blockchain, your wallet’s information will say it has some Bitcoin in it, and then the code is sealed permanently into the next block on the chain.
This blog post, written for HP’sBusiness Value Exchange, entitled The ‘Centerless’ Economy is available for review atCloudTweaks.com. The post proposes that the engine behind BitCoin, called the BlockChain, will have a huge impact on every area of life that involves transactions and records – which means pretty much everything. Click here to read.
In addition to my own posts, I also write forCloudTweaks, an authority on cloud computing. Cloudtweaks is currently working with Cisco, who have released and exciting new thought leadership platform calledInnovateThink. I have been asked to contribute some material to this project, and it is an honor to do so.
My fifth article focuses on money, or at least virtual money, which is not only representative of the Internet of Everything, it also promises also to play a major role in the way things are bought and paid for.
Here is an excerpt:
In terms of the Internet of Everything, virtual currencies such as BitCoin allow for a wider range of actions that traditional banks find too costly to touch, and who make too expensive to use, such as micro-transactions. These small purchases may be the equivalent of a couple of cents, and would allow consumers, or their IoE-enabled possessions, to pay a small fee for to access a single news story on a news website, for example, removing the need for banner ads and other old-school monetization techniques, and allowing a greater sense of pay-as-you-go-only-for-what-you-need.
BitCoin is not the only virtual currency out there. In fact there are many dozens, if not hundreds of virtual currencies vying for market attention. BitCoin is only the most famous of the bunch – for now. But together they represent change, and a significant move toward decentralization and virtualization, just as cloud technologies are doing with big data.
In addition to my own posts, I also write for CloudTweaks, an authority on cloud computing. My most recent post focuses on the rise of Bitcoin and what it might mean in an age of virtualization and decentralization.
Here is an excerpt:
If you find yourself in Allentown, Pennsylvania around lunchtime, feeling a little hungry but without any cash in your pocket, take heart: the Subway franchise on Hamilton Boulevard takes BitCoin. If you have the app on your phone, your sandwich will only cost you 0.006 BTC, or thereabouts.
BitCoin, the fabled virtual currency, developed in part by the Winklevoss twins, themselves famous for their early involvement with FaceBook, has upped its status in recent months, from being the currency most favoured by gun and drug runners on the Silk Road website, to receiving cautious endorsement from Fed Chairman Ben Bernanke…