Faq

Faq about Cryptocurrencies


How do you get Bitcoin?

1. mining your own was the first way
2. work hard for them

3. trade something for them

4. casino

5. make an offer for them

6. use many faucets

7. boost your trading skills on the market!



Who has the most bitcoins?-

uncle sam

Tony Gallapi

Satosh Nakamato

Tim Draper

Charlie Shrem



How long does it take to mine bitcoins?- to mine a measly thirteen bitcoins back when it was new it could take up to 20 minutes depending on the hash power now for the same amount of bitcoins you can do it in half the time with the newer more modern mining computers


How does Blockchain work?- the blockchain is a system designed to use nodes agreement to make transaction orders and prevent fraud as described above. the bitcoin network orders transaction's by putting them together in groups called blocks.

How long does it take for Blockchain to confirm?- On average it takes about 10 minutes to find each block. The average block takes can be longer and it can also be shorter depending on if the total hash power of the network is growing or shrinking.

How does Bitcoin use Blockchain?- a transaction is a transfer of value between bitcoin wallets that gets included in the blockchain. Bitcoin wallets keep a secret piece of data called a private key or it is also known as a seed which is more or less used to provide a crypto signature on transactions, providing proof they came from the owner of the wallet.

How do I buy Bitcoins on Blockchain?- Create a wallet (blockchain wallet). all you need is an email address to get started! Set up an exchange account, once that is completed navigate to buy the bitcoin tab and set up an account with an exchange partner.


Is it legal to buy bitcoins- Bitcoin is of interest to law enforcement agencies and is under the microscope so to speak including that of, tax authorities, and major legal regulators, all of which are trying to understand how the cryptocurrency fits into existing frameworks. The legality of your coin activities will depend on who you are, where you live, and what you are doing with it.








Comments

Post a Comment

Popular posts from this blog

Time to quit Bitcoin and work at macdonalds

Time to quit Bitcoin and work at MacDonald's Well with all of the bad news I cant seem to get away from when it comes to bitcoin I'm almost thinking we should let it all fall apart pull our money out and take over MacDonald's together and eat those salty crunchy fries. I keep trying to find some good news for you guys but no kidding its only negative stuff. I wouldn't plan on making too many outrageous moves until things start to level out, unless you sell and buy the macdonalds, If your looking for a sales person when you do buy it feel free to give me a call and I can cultivate new business for you lol! So how has everyones day been trading so far? how many successes have there been today and what did you do? Id love to know what your story is and how you did it so we can all have some positive moitivating content to look at and get us obsessed again. Ill tell you all that I made enough money to quit my job and get myself a nice F.350 and grab a house an...
Read more

Cryptocurrency breakouts and breakdowns-general knoweledge

cryptocurrency investment terms we should know A re you new to the investor world and wonder what some of these crazy terms mean or think you know but just want to brush up on some general knowledge well here we go. Breakouts and breakdowns These terms refer to a stock or crypto that breaks through previous resistance to the upside or support on the downside. If a stock or crypto's 200 day moving average was 3.00 a share or the 1 year high was 3.00 a share and it just hit 3.25 a share it is experiencing a breakout! Resistance Occurs when a stocks or cryptos price  settles in an area where sellers usually emerge, preventing any further price increase. If a stock or crypto is trading at lets say 10.00 per share, resistance at the 12.00 a share price point occur by a lot of sellers wanting to sell their shares around 12.00 in a short period of time, its considered a breakout as it broke through the resistance! Support is the same kind of thing except its...
Read more

Bitcoin pump and dump

Image
Bitcoin pump and dump A pump and dump in cryptocurrency and standard fiat currencies is something to watch for and beware of. How do we spot them and how should we execute a well thought out plan on what to do when we see them. Pump And Dump Definition- Denoting the fraudulent practice of encouraging investors to buy shares in a particular stock or crypto in order to inflate the price artificially, and then selling one's shares while the price is high. typically leaving a beginner wondering what happened and why they lost their funds! 1. Can we make money off of the? the short answer is yes 2. Can we loose money on the? yes. if your not sure what to watch for then yes the chances of loosing money is very high and for a newer inexperienced investor in which ever currency you prefer whether its crypto or not the same things apply! BE AWARE. 3. Is a pump and dump a scheme? yes it is, it can be started in different ways however the most common are a small group of wealthy...
Read more