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Coinbase.com : Bitcoin wallet

Posted by Asep Sulaeman Thursday, September 19, 2013 3 comments
Coinbase is an international digital wallet that allows you to securely buy, use, and accept bitcoin currenc. Coinbase is based in San Francisco, CA.


Life At Coinbase

 

Interested in helping build the future of currency and payments? Do you regularly run though brick walls on your way to success? Are you passionate about digital currency? If so, you've found the right place.

We're a community of builders - engineers, designers, and entrepreneurs - who love what we do.


Benefits

 

  • Meaningful equity at an early stage company
  • Own your own projects from conception to launch
  • Excellent health insurance
  • Free food (lunch and dinners)
  • A new MacBook computer
  • The option of getting paid in Bitcoin
  • Work whenever you work best (flexible hours)
  • Flexible vacation - take time off when you need it
  • Free gym membership
  • Work in the heart of San Francisco's SoMA neighborhood (with easy access to the Caltrain)
  • Work on a big idea that is changing the world

 

Growth

 

We're currently experiencing rapid growth in transaction volume and revenue due to the public exposure to bitcoin. We're a small team that is aggressively looking to grow. Drop us a line!

Need Bitcoin wallet ? Just Visit : coinbase.com

Is Bitcoin Legal ?

Posted by Asep Sulaeman Wednesday, September 18, 2013 1 comment
Bitcoin is of interest to law enforcement, tax authorities, and legal regulators, all of which are trying to understand how it fits into existing frameworks. The legality of your bitcoin activities will depend on who you are and what you are doing with it.

Bitcoin has proven to be a contentious issue for regulators and law enforcers, both of which have targeted the virtual currency in an attempt to control its use. We are still early on in the game, and many legal authorities are still struggling to understand the cryptocurrency, let alone make laws around it. Amid all this uncertainty, one question stands out: is bitcoin legal?

The answer is yes, depending on what you’re doing with it. Read on for our guide to the complex legal landscape surrounding bitcoin. Most of the discussion concerns the US, where many of the legal dramas are currently playing out.

What are the concerns about bitcoin?

 

Government agencies are increasingly worried about the implications of bitcoin, as it has the ability to be used anonymously, and is therefore a potential instrument for money laundering. In particular, law enforcers seem to be concerned about the decentralized nature of the currency.

As early as April 2012, the FBI published a document highlighting its fears around bitcoin specifically, drawing a distinction between it and centralized digital currencies such as eGold and WebMoney. It voiced concerns that while US-based exchanges are regulated, offshore services may not be, and could be a haven for criminals to use bitcoin for illicit activities without being traced.

Bitcoin has been commonly used as a form of currency when trading on Silk Road, an anonymous marketplace that can only be accessed over the TOR anonymous browsing network. Silk Road is commonly used to sell goods that are legal in many countries, including narcotics. This prompted US Senator Charles Schumer to call for the site to be shut down, explicitly linking it to bitcoin, which he called a “surrogate currency”. And the US Drug Enforcement Administration seized bitcoins from a US resident for purchasing a controlled substance in June 2013.

Who regulates it?

 

Regulators will vary on a per-country basis, but you can expect to see national financial regulators interested in bitcoin and other virtual currencies, potentially along with regional regulators at a sub-country level.

FinCEN

 

In the US, the Financial Crimes Enforcement Network (FinCEN), which is an agency within the US Treasury Department, took the initiative. It published guidelines about the use of virtual currencies. FinCEN’s March 18, 2013 guidance defined the circumstances under which virtual currency users could be categorized as money services businesses (also commonly known as money transmitting business or MTBs). MTBs must enforce Anti-Money Laundering (AML) and Know Your Client (KYC) measures, identifying the people that they’re doing business with.

CFTC

 

The US Commodity Futures Trading Commission (CTFC), which looks after financial derivatives, hasn’t announced regulation yet, but has made it clear that it could if it wanted to.

SEC

 

The US Securities and Exchange Commission (SEC) hasn’t issued solid regulations on virtual currencies, but its Office of Investor Education and Advocacy published an investor alert to warn people about fraudulent investment schemes involving bitcoin. In particular, it warned of Ponzi schemes, after charging Texas resident Trendon T Shavers, aka ‘pirateat40’, founder and operator of Bitcoin Savings and Trust, with allegedly raising 700,000 bitcoins by promising investors up to 7% weekly interest.

Legislative branch

 

The SEC case has forced the legislative branch of government to consider bitcoin’s legal status. Shavers had claimed that he could not be prosecuted for securities fraud, as bitcoin wasn’t money. However, Judge Amos Mazzant issued a memorandum arguing that bitcoin can be used as money.
In August 2013, the US Senate wrote to several law enforcement agencies, inquiring about the threats and risks relating to virtual currency. The letters included this one to the Department Of Homeland Security, fretting about the lack of a paper trail for regulators and enforcement agencies to follow for virtual currency transactions. It requested policies and guidance related to the treatment of virtual currencies, and information about any ongoing strategic efforts in the area.

US states

 


Each US state has their own financial regulators and laws, and each approaches bitcoin differently. California and New York have been particularly aggressive in their pursuit of bitcoin-related organizations, for example, while others, such as New Mexico, South Carolina, and Montana, don’t regulate money transmitting businesses. There is a list of state approaches to money transmitter laws here.

In May 2013, California’s state financial regulator issued a letter to the Bitcoin Foundation, a nonprofit organization designed to promote bitcoin, warning it that it may be a money transmission business, and threatening people there with potential fines and jail time.

Then, in August 2013, the New York Department of Financial Services issued subpoenas to 22 bitcoin-related companies, although these letters were more conciliatory, asking for a dialogue to develop appropriate regulatory guidelines for the digital currency industry.

Private sector companies (banks)

 

Several banks have stopped accounts owned by people operating bitcoin exchanges. In at least one case, this was because the bank was unhappy that the company involved did not have a money transmitting business (MTB) account.

What this means to you

 

The legality of bitcoin depends on who you are, and what you’re doing with it. There are three main categories of bitcoin stakeholder. Someone may fall under more than one of these categories, and each category has its own legal considerations.

Users

 

These are individuals that obtain bitcoins, and either hoard them or spend them. Under the FinCEN guidance, users who simply exchange bitcoins for goods and services are using it legally.
FinCEN: “A person that creates units of this convertible virtual currency and uses it to purchase real or virtual goods and services is a user of the convertible virtual currency and not subject to regulation as a money transmitter.”

Miners

 

According to the FinCEN guidance, people creating bitcoins and exchanging them for fiat currency are not safe.
FinCEN: “By contrast, a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter.”
Miners seem to fall into this category, which could theoretically make them liable for MTB classification. This is a bone of contention for bitcoin miners, who have asked for clarification. This issue has not to our knowledge been tested in court.

Exchanges

 

Exchanges are defined as MTBs.
FinCEN: “In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency.”

Taxation

 

In 2009, the US Internal Revenue Service (IRS) posted information about the tax applications of using virtual currencies inside virtual economies, arguing that taxpayers can receive income from a virtual economy and could be required to report it as taxable income. However, it based this largely on guidance related to bartering, gambling, business, and hobby income.
However, the IRS has not yet posted guidance on ‘open flow’ virtual currencies that can be used outside of virtual economies. In a 27-page report [PDF] published in May 2013, the US General Accounting Office (GAO) called for more guidance from the IRS on this issue.
The IRS responded that its guidance could now be taken to cover virtual currencies as used outside of virtual economies. It added that it was also looking at the potential tax compliance risks posed by anonymous electronic payment systems, and was working with other federal agencies on the topic.
In June 2013, the director of an IRS unit that investigates cyber threats also told the Financial Times that the use of “cyber-based currency and payment systems” to hide unreported income from the IRS is a threat that it was “vigorously responding to”. In short, don’t expect to evade taxes by earning bitcoins instead of fiat currency.

What is the industry doing?

 

The industry has responded to growing regulator concerns in several ways.
  • Several companies created a committee to form a self-regulatory body called DATA, designed to encourage open conversation with regulators.
  • The Bitcoin Foundation formed committees to offer legal guidance, steer policy, and liaise with regulators.
  • Exchanges have been attempting to secure MTB licenses at the state and federal levels, and some have avoided doing business with US customers until this is resolved.

Why Use Bitcoin ?

Posted by Asep Sulaeman 2 comments
Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, but many people still don’t understand why they should make the effort to use it. Here are ten good reasons why it’s worth taking the time to get involved in this virtual currency.

It’s fast

 

When you pay a cheque from another bank into your bank, the bank will often hold that money for several days, because it can’t trust that the funds are really there. Similarly, international wire transfers can take a relatively long time.

why use bitcoin

Bitcoin transactions are generally far faster. Transactions can be instantaneous if they are “zero-confirmation” transactions, meaning that the merchant takes on the risk of accepting a transaction that hasn’t yet been confirmed by the block chain. Or, they can take around ten minutes if a merchant requires the transaction to be confirmed. That’s far faster than any inter-bank transfer.

It’s cheap

 

What’s that you say? Your credit card transactions are instantaneous too? Well, that’s true. But your merchant (and possibly you) pay for that privilege. Some merchants will charge a fee for debit card transactions too, as they have to pay a ‘swipe fee’ for fulfilling them. Bitcoin transaction fees are minimal, or in many cases, free.

Central governments can’t take it away

 

Remember what happened in Cyprus in March 2013? The Central Bank decided to take back uninsured deposits larger than $100,000 to help recapitalize itself, causing huge unrest in the local population. It originally wanted to take a percentage of deposits below that figure, eating directly into family savings.
That can’t happen with bitcoins. Because the currency is decentralized, you own it. No central authority has control, and so a bank can’t take it away from you. For those who find their trust in the traditional banking system eroding, that’s a big benefit.

There are no chargebacks

 

Once bitcoins have been sent, they’re gone. A person who has sent bitcoins cannot try to retrieve them without the recipient’s consent. This makes it difficult to commit the kind of fraud that we often see with credit cards, in which people make a purchase and then contact the credit card company to make a chargeback, effectively reversing the transaction.

People can’t steal your important information from merchants

 

credit cards


This is a big one. Most online purchases today are made via credit cards, but in the twenties and thirties, when the first precursors to credit cards appeared, the Internet hadn’t been conceived. Credit cards were never supposed to be used online. They are insecure. Online forms require you to enter all your secret information (the credit card number, expiry date, and CSV number) into a web form. It would be more difficult to think of a less secure way to do business. This is why credit card numbers keep being stolen.
Bitcoin transactions don’t require you to give up any secret information. Instead, they use two keys: a public key, and a private one. Anyone can see the public key (which is actually your bitcoin address) but your private key is secret. When you send a bitcoin, you ‘sign’ the transaction by combining your public and private keys together, and applying a mathematical function to them. This creates a certificate that proves the transaction came from you. As long as you don’t do anything silly like publishing your private key for everyone to see, you’re safe.

It isn’t inflationary

 

The problem with regular fiat currency is that governments can print as much of it as they like, and they frequently do. If there are not enough US dollars to pay off the national debt, then the Federal Reserve can simply print more. This causes the value of a currency to decrease. If you suddenly double the number of dollars in circulation, then that means there are two dollars where before there was only one. Someone who had been selling a chocolate bar for a dollar will have to double the price to make it worth the same as it was before, because a dollar suddenly has only half its value.
This is called inflation, and it causes the price of goods and services to increase. Inflation can be difficult to control, and can decrease people’s buying power.
Bitcoin was designed to have a maximum number of coins. Only 21 million will ever be created under the original specification. This means that after that, the number of bitcoins won’t grow, so inflation won’t be a problem. In fact, deflation – where the price of goods and services falls – is more of a problem for bitcoin than inflation.

It’s as private as you want it to be

 

Sometimes, we don’t want people knowing what we have purchased. Bitcoin is a relatively private currency. On the one hand, it is transparent; everyone knows how much a particular bitcoin address holds in transactions. They know where those transactions came from, and where they’re sent.
On the other hand, unlike conventional bank accounts, no one knows who holds a particular bitcoin address. It’s like having a clear plastic wallet with no visible owner. Everyone can look inside it, but no one knows whose it is.

You don’t need to trust anyone else

 

In a conventional banking system, you have to trust people to handle your money properly along the way. You have to trust the bank, for example. You might have to trust a third-party payment processor. You’ll often have to trust the merchant, too. These organizations demand important, sensitive pieces of information from you.
Because bitcoin is entirely decentralized, you need trust no one when using it. When you send a transaction, it is digitally signed, and secure. An unknown miner will verify it, and then the transaction is completed. The merchant need not even know who you are, unless you’ve arranged to tell them.

You own it

 

There is no other electronic cash system in which your account isn’t owned by someone else. Take PayPal, for example: if the company decides for some reason that your account has been misused, it has the power to freeze all of the assets held in the account, without consulting you. It is then up to you to jump through whatever hoops necessary to get it cleared so that you can access your funds. With bitcoin, you own the private key and the corresponding public key that makes up a bitcoin address. No one can take that away from you (unless you lose it yourself).

You can make bitcoins yourself

 

In spite of the amazing advances in home office colour printing technology, most national governments take a fairly dim view of you producing your own money. With bitcoin, however, it is encouraged. You can certainly buy bitcoins on the open market, but you can also mine your own if you have enough computing power. After covering your initial investment in equipment and electricity, mining bitcoins is akin to producing money out of thin air. And who wouldn’t like their computer to earn them money while they sleep?

Source : coindesk.com

Coinurl.com : Best Advertising Network

Posted by Asep Sulaeman Tuesday, September 17, 2013 2 comments
          
   

    For Publisher


Turn any content you create into cash: websites, blogs, tweets, forum posts, torrents, images, etc. We offer competitive rates and pay out the largest part of the funds paid by advertisers! 

Contextual banner ads

Non-intrusive, high-efficient text and image contextual advertising for your website! Based on the pay per click system.

Interstitial ads
 
Shorten URLs and earn on each click made on your link! Low cost advertising based on the pay per impression system. 

Tools 
 
Automate shortening with our browser extensions. There is absolutely no need to shorten links on your website. Just place the script on all your pages. 

Custom

Adjust settings for those who will click your link: filter out unwanted ads, limit maximum interstitial wait time, enable auto-redirect, etc. 

Privacy

We respect your privacy and make all payments anonymously using the virtual currency Bitcoin, which can easily be exchanged for real cash. 

Visit : coinurl.com

Blockchain.info : Bitcoin Wallet

Posted by Asep Sulaeman 2 comments


Blockchain.info is Bitcoin's most popular bitcoin wallet and block explorer. As of January 2013 the site has over 110,000 registered users.

Security 

 

Our security policy is to hold as little data as possible that in the event of a security breach could affect our users. Using our My Wallet service we do not hold or intercept any passwords or personally identifying information wallet data is only stored in encrypted form. Blockchain.info runs on privately owned dedicated hardware which can only be accessed by the site administrator. We perform regular security reviews of both our code and servers including scanning our site using nmap to detect possible vulnerabilities early. The site can be access securely using https:// verified by GoDaddy.

Availability

 

We aim for 99.5% up time however this service is provided on a best effort basis. If scheduled maintenance is planned we will notify users by email.

Bitads.net : Bitcoin Advertising network

Posted by Asep Sulaeman 2 comments

We believe advertisers and publishers should have more control over the way they handle ads.
We are currently in open beta. Try bitads today!

Advertisers

 

Target your ad only to the websites you pick. Don't waste money advertising to the wrong crowd. With bitads you are in complete control over where you ad is shown. And best of all, we use a Cost-per-day method instead of Cost-per-click.

Publishers

 

Set up an adspace on your website and let advertisers bid for a share of the airtime. All done automatically by bitads while you sleep! You can also enable ad approvals so that you don't get any unwanted ads on your site.

100% Bitcoin

 

All transactions through bitads.net is done with Bitcoins! Bitcoin is the first decentralized digital currency that you can send via the internet without going through a bank.

 Visit : bitads.net

Bitvisitor.com - Earn Free Bitcoin

Posted by Asep Sulaeman 1 comment

The biggest problem facing online startups today is finding new users. Bitvisitor solves this problem by allowing companies to compensate users directly for trying out their website.

Companies can use Bitvisitor to drive influential early adopters to their website. The added bonus for Bitcoin enabled websites is that every user of Bitvisitor is an active Bitcoin user with a valid wallet filled with Bitcoins to spend!

Bitvisitor represents a fundamental shift in the online advertising model that could only be made possible by the success of Bitcoin micropayments. 

Bitvisitor.com pays users to visit websites. Our visitors are unique in that they are highly influential, early adopters with valid Bitcoin wallets. All visitors are CAPTCHA verified. 

Get paid every Hour!


  • Biggest Payouts
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Earn Free Bitcoin Now Bitvisitor.com

Starting Bitcoin Mining

Posted by Asep Sulaeman 1 comment

 

Getting Started

 

Before you start mining Bitcoin, it is fundamental to have a basic understanding of the evolution of mining and the terms used to describe the different processes. The most important term to know is what "hashing" is and how it impacts your ability to mine coins.
The term "hashing" means how quickly your hardware is processing data from the Blockchain and solving the complex mathematical equations that are required to earn bitcoins. There is a direct correlation between how fast your hardware can hash and how many Bitcoins you will receive. Simply put, the faster you can hash data, the faster you will gain Bitcoins.

1. Buy Hardware

 

To begin mining, you must use either a GPU card, FPGA, or ASIC machine. We recommend that you purchase an ASIC miner if you are just starting out because eventually the GPU and FPGA miners will be too slow and consume too much power to be profitable over time. Butterfly Labs has a great ASIC miner for those just starting out which runs at 5 GH/s and is the most affordable entry into the ASIC generation, costing a mere $274. In contrast, previous GPU cards and FPGA's cost nearly the same amount, but usually hash at a rate that is around 800 MH/s, making them cost prohibitive at that price level.

2. Download Free Software

 

Once you have decided on the machine you wish to purchase and receive it, you will need to download a special program that is used for mining, such as BFGMiner or CGMiner for example. There are many other programs out there that can be used for Bitcoin mining, but these are just two of the more popular programs released.

3. Set Up Wallet

 

The next step to mining is to set up a Bitcoin wallet or use your existing Bitcoin wallet to transfer the Bitcoins you mine and keep them safely in storage. A Bitcoin wallet is like a traditional wallet and can be software, mobile, or web-based. Bitcoins can be sent to your wallet by using a unique address that only belongs to you. The most important step in setting up your wallet is securing it from potential threats by enabling two-factor authentication or keeping it on an offline computer that does not have access to the Internet. Wallets can be obtained by downloading a software client to your computer such as Armory and Bitcoin-qt, downloading an app to your phone, or using a web-based solution such as Blockchain.info. Wallets that are on devices connected to the Internet or mobile devices are much less secure than offline wallets, therefore we recommend using an offline wallet for the utmost security.

4. Join a Mining Pool 

 

Once your Bitcoin wallet is created, we recommend joining a mining pool. Mining pools are defined as groups of miners working together to solve a block and sharing the rewards of that block. At this time, when a block is solved there is a reward of 25 Bitcoins that all the miners who contributed hashing power to that block will receive as a payout proportionate to how much hashing power they shared. While it is possible to mine alone, we do not recommend that at this time as blocks are solved faster by miners in pools.

Souce: bitcoinmining.com

Bitcoin Mining Pool

Posted by Asep Sulaeman 1 comment

Mining pools are a way for miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block. A "share" is awarded to members of the mining pool who present a valid proof of work that their miner solved. Mining in pools began when the difficulty for mining increased to the point where it could take years for slower miners to generate a block and by pooling their resources together, miners were able to generate blocks quicker and receive a portion of the block reward on a regular basis, rather than once every few years.
While there are many mining pools out there, some use different calculations to pay out Bitcoin rewards. Here are the different types:
PPS: The Pay-per-Share (PPS) approach offers an instant, guaranteed payout for each share that is solved by a miner. Miners are paid out from the pools existing balance and can withdraw their payout immediately. This model allows for the least possible variance in payment for miners while also transferring much of the risk to the pool's operator.
PROP: The Proportional approach offers a proportional distribution of the reward when a block is found amongst all workers, based off of the number of shares they have each found.
PPLNS: The Pay Per Last N Shares (PPLN) approach is similar to the proportional method, but instead of counting the number of shares in the round, it instead looks at the last N shares, no matter the boundaries of the round.
DGM: The Double Geometric Method (DGM) is a hybrid approach that enables the operator to absorb some of the risk. The operator receives a portion of payouts during short rounds and returns it during longer rounds to normalize payments.
SMPPS: The Shared Maximum Pay Per Share (SMPPS) uses a similar approach to PPS but never pays more than the pool has earned.
ESMPPS: The Equalized Shared Maximum Pay Per Share (ESMPPS) is similar to SMPPS, but distributes payments equally among all miners in the pool.
RSMPPS: The Recent Shared Maximum Pay Per Share (RSMPPS) is also similar to SMPPS, but the system prioritizes the most recent miners first.
CPPSRB: The Capped Pay Per Share with Recent Backpay uses a Maximum Pay Per Share (MPPS) reward system that will pay miners as much as possible using the income from finding blocks, but will never go bankrupt.
BPM: Bitcoin Pooled mining (BPM), also known as "slush's pool", uses a system where older shares from the beginning of a block round are given less weight than more recent shares. This reduces the ability to cheat the mining pool system by switching pools during a round.
POT: The Pay on Target (POT) approach is a high variance PPS that pays out in accordance with the difficulty of work returned to the pool by a miner, rather than the difficulty of work done by the pool itself.
SCORE: The SCORE based approach uses a system whereby a proportional reward is distributed and weighed by the time the work was submitted. This process makes later shares worth more than earlier shares and scored by time, thus rewards are calculated in proportion to the scores and not shares submitted.
ELIGIUS: Eligius was designed by Luke Jr., creator of BFGMiner, to incorporate the strengths of PPS and BPM pools, as miners submit proofs-of-work to earn shares and the pool pays out immediately. When the block rewards are distributed, they are divided equally among all shares since the last valid block and the shares contributed to stale blocks are cycled into the next block's shares. Rewards are only paid out if a miner earns at least .67108864 and if the amount owed is less than that it will be rolled over to the next block until the limit is achieved. However, if a miner does not submit a share for over a period of a week, then the pool will send any remaining balance, regardless of its size.
Triplemining: Triplemining brings together medium-sized pools with no fees and redistributes 1% of every block found, which allows your share to grow faster than any other pool approach. The administrators of these pools use some of the Bitcoins generated when a block is found to add to a jackpot that is triggered and paid out to the member of the pool who found the block. In this way, everyone in the pool has a better chance to make additional Bitcoins, regardless of their processing power.

Source : Bitcoinmining.com

Bitcoin Mining Hardware

Posted by Asep Sulaeman 0 comments

The process of mining Bitcoins has evolved dramatically since their inception in 2009.

 


At first, miners could only use their central processing unit (CPU) to mine, but this was not very power efficient and bogged down the system resources of the host computer. Miners then moved on to using the graphical processing unit (GPU) in computer graphics cards as they were able to hash data much faster than CPU's, around 50x to 100x, and this required less power. Eventually, the Bitcoin mining industry recognized the need for special equipment and this led to the development of field-programmable gate arrays (FPGA's). These FPGA's were specialized machines that repurposed existing technology and attached to computers using a USB connection while using much less power during mining than GPU's and helped to free up system resources on their host computers.

Today, application-specific integrated circuit (ASIC) miners are the new wave in the evolution of mining Bitcoin. These ASIC machines mine at unprecedented speeds, from 5GH/s to 1,500 GH/s, while consuming much less power than FPGA or GPU mining rigs, but are only available from a few manufacturers such as Butterfly Labs and Avalon at this time.

Butterfly Labs produces the most cost-efficient and power-efficient mining hardware in the industry available for both entry-level miners and experienced miners alike. Their smallest model, the Bitforce ASIC SC 5GH/s model is priced at $274 and is a great choice for those just getting started mining Bitcoin because they offer greater speed and reduced power consumption as opposed to GPU and FPGA mining. Additionally, Butterfly Labs offers a vast array of ASIC miners that include a 25GH/s, 50GH/s, and an unprecedented 1,500 GH/s model.
For more information go to: www.butterflylabs.com.

Avalon also produces ASIC miners that run at speeds greater than 65 GH/s and use a modular case system that allows users to add another 20 GH/s at a later time. However, they release their machines in batches and their machines use more power than the Butterfly Labs machines running at similar speeds. At this time, all ASIC miners produced by Avalon have been reserved and there is no announcement on future availability.
For more information go to: http://launch.avalon-asics.com/#home

 Source : Bitcoinmining.com

Bitcoin Mining Software

Posted by Asep Sulaeman 3 comments

While the actual process of mining is handled by the mining hardware itself, special software is needed to connect your miners to the blockchain and your mining pool as well, if you are part of a mining pool. The software delivers the work to the miners and receives the completed work from the miners and relays that information back to the blockchain and your mining pool. The software can run on almost any operating system, such as OSX, Windows, Linux, and has even been ported to work on a Raspberry Pi with some modifications for drivers depending on your mining setup.
Not only does the software relay the input and output of your miners to the blockchain, but it also monitors them and displays general statistics such as the temperature, hashrate, fan speed, and average speed of the miner.
There are a few different types of mining software out there and each have their own advantages and disadvantages, so be sure to read up on the various mining software out there.

A few examples of mining software:

  1. BFGMINER: A modular ASIC, FPGA, GPU and CPU miner written in C, cross platform for Linux, Mac, and Windows including support for OpenWrt-capable routers.
    Download: https://github.com/luke-jr/bfgminer
  2. CGMINER: This is a multi-threaded multi-pool GPU, FPGA and ASIC miner with ATI GPU monitoring, (over)clocking and fanspeed support for bitcoin and derivative coins.
    Download: https://github.com/ckolivas/cgminer
If you want to get a better idea of mining without installing any software, try Bitcoin Plus, a browser-based CPU Bitcoin miner. As a CPU miner it's not cost-efficient for serious mining, but it helps illustrate the process of pool mining.

Source : bitcoinmining.com

Bitcoin Wallet And Payment Network

Posted by Asep Sulaeman 1 comment

Bitcoin wallets and addresses

A user can have one or more bitcoin addresses from which bitcoins are sent or received using either a website or downloaded software often called a "wallet" like a digital wallet. Users can obtain new bitcoin addresses as needed. Many bitcoin services provide addresses tied to a user's individual account to hold funds on the user's behalf.
Specifically, a bitcoin address is a cryptographic public key—human-readable strings of numbers and letters around 33 characters in length, beginning with the digit 1 or 3, as in the example of 175tWpb8K1S7NmH4Zx6rewF9WQrcZv245W. 

The matching private key is often stored in a digital wallet or mobile device and protected by a password or other means of authentication. Each bitcoin transaction is signed by the private key of the user initiating the transaction.
Various vendors offer banknotes and coins denominated in bitcoins; what is sold is really a bitcoin private key as part of the coin or banknote. Usually, a seal has to be broken to access the key, while the receiving address remains visible on the outside so that the balance can be verified.

Payment network and mining


The Bitcoin network protocol operates to provide solutions to the problems associated with creating a decentralized currency and a peer-to-peer payment network. Key among them is the use of a blockchain to achieve consensus and to solve the double-spending problem.
A bitcoin is defined by a chain of digitally-signed transactions that began with its creation as a block reward through bitcoin mining. Each owner transfers bitcoins to the next by digitally signing them over to the next owner in a Bitcoin transaction. A payee can then verify each previous transaction to verify the chain of ownership.
The network timestamps transactions by including them in blocks that form an ongoing chain called the blockchain. Such blocks cannot be changed without redoing the work that was required to create each block since the modified block. The longest chain serves not only as proof of the sequence of events but also records that this sequence of events was verified by a majority of the Bitcoin network's computing power. As long as a majority of computing power is controlled by nodes that are not cooperating to attack the network, they will generate the longest chain of records and outpace attackers.
The network itself requires minimal structure to share transactions. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will. Upon reconnection, a node will download and verify new blocks from other nodes to complete its local copy of the blockchain.

Source : Wikipedia

What is Bitcoin ?

Posted by Asep Sulaeman 0 comments

Bitcoin is a cryptocurrency where the creation and transfer of bitcoins is based on an open-source cryptographic protocol that is independent of any central authority.Bitcoins can be transferred through a computer or smartphone without an intermediate financial institution.The concept was introduced in a 2008 paper by a pseudonymous developer known only as "Satoshi Nakamoto", who called it a peer-to-peer, electronic cash system.

The processing of Bitcoin transactions is secured by servers called bitcoin miners. These servers communicate over an internet-based network and confirm transactions by adding them to a ledger which is updated and archived periodically using peer-to-peer filesharing technology.In addition to archiving transactions, each new ledger update creates some newly minted bitcoins. The number of new bitcoins created in each update is halved every 4 years until the year 2140 when this number will round down to zero. At that time no more bitcoins will be added into circulation and the total number of bitcoins will have reached a maximum of 21 million bitcoins.To accommodate this limit, each bitcoin is subdivided down to eight decimal places; forming 100 million smaller units called satoshis.

In August 2013 Germany's Finance Ministry subsumed Bitcoins under the term "unit of account"—a financial instrument—though not as e-money or a functional currency.Although bitcoin is promoted as a digital currency, many commentators have criticized bitcoin's volatile exchange rate, relatively inflexible supply, high risk of loss, and minimal use in trade.

Source : Wikipedia

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