What is Crypto Currency?
Cryptocurrencies are peer-to-peer, decentralized, digital currencies whose implementation relies on the principles of cryptography to validate the transactions and generation of the currency itself. Lets break down what that means.
-Peer-to-peer refers to each node on the network being able to connect to any other node and act as both a server and a client sharing updates to the blockchain (public ledger) without the need for a central server.
-Decentralized refers to the peer-to-peer architecture of the network. Because each node can act as both a server and a client, there is no need for a central server or centralized authority, thus effectively solving the double spending problem.
-Digital currency, among its various names, is electronic money that acts as alternative currency in the digital realm (though offline adoption is increasing as well). Currently, alternative digital currencies are not produced by government-endorsed central banks nor necessarily backed by national currency.
-Cryptography relies on public and private keys for security. With cryptocurrencies every transaction has to be signed by a private key for security. Due to the strong security and well understood principles of cryptography, counterfeiting digital currencies is virtually impossible.
Why use Crypto Currency?
By choosing to use Crypto Currencies we are choosing to nullify the debts and fake wealth that create systems of slavery and mass poverty. Fiat currencies(USD, EUR, Ect) are one of the central control mechanisms utilized by a small percentage of our population to create an world wide economic imbalance. More information about the challenge that is Centralized Banking can be found in the video below.
Are you ready to step higher into your Sovereignty by becoming part of the economic solution? Great. Lets get started.
First you need a wallet. There are a variety of services that provide wallets. We recommend; Coinbase; A simple method of purchasing bitcoin with a bank wire.
Xapo; A secure wallet and bitcoin purchasing service.
If you wish to purchase bitcoin with paypal we recommend Virwox.
Or you can get Crypto Currency for free.
Moonbit, Moonlite and Moondoge are bitcoin, litecoin, and dogecoin faucets that constantly acrue balance that can be withdrawn every 5 minutes, every 5 weeks, or any time length in between.
FarmSatoshi, and Wonderland are Faucet “games” that pay out more over time.
BitcoinClix, Bitvisitor and BtcVic are services that pay in bitcoin for watching advertisements.
Once you have Crypto, where can you spend it? Everywhere, almost.
BitNation Mastercard: Spend your bitcoin anywhere Mastercard is accepted.
Egift; An online store that instantly sells giftcards to over 500 branches worldwide.
Purse; An online store that sells all of Amazon’s products at a 15% discount for bitcoin.
Overstock; One of the worlds largest superstores.
Cheapair; A popular hotel, flight, and car booker.
Bitgold; Buy, sell and trade gold for bitcoin.
Coinmap; A global listing of locations that accept bitcoin and other encrypted currencies
Microsoft, Dell, and over 7000 physical locations worldwide also accept bitcoin and other cryptocurrencies.
Beyond Bitcoin; Second Generation Crypto Currencies
Bitcoin was the beginning of the Crypto Currency Revolution. Since then we have seen the Rise of a second generation of Online Currencies. These systems are far more advanced then their predecessor and offer much more then simple currency transactions. Of the thousand of alt coins available we recommend Etherium, NXT, Namecoin, Maidsafe and Ripple because of the unique services they offer.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
NXT sets itself apart with its plethora of innate services and 100% proof of stake model that rewards investors with a regular percentage return. These services include decentralized encrypted communication, asset exchange, voting system, escrow, and the ability to make your own currency with redeemable value.
Maidsafe is a SAFE (Secure Access For Everyone) Network that uses advanced peer-to-peer technology that joins together the spare computing capacity of all SAFE users, creating a global network. You can think of SAFE as a crowd-sourced Internet. It is on this network that everyone’s data and applications reside. Maidsafe pays you to utilize your spare storage, processing power and bandwidth.
Namecoin provides the infastructure for the worlds first decentralized DNS database. Offering .bit domains that cannot be censored by ICCAN at a fraction of the cost.
Ripple is on the leading edge because of its capacity to instantly convert and transfer any currency to any other currency at the lowest possible rate available in that moment. This incudes all Fiat and Crypto Currencies as well as points and gift cards. Ripple is still under development and is unavailable for consumers at this time.