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Creating and Using Bitcoin Wallet

Bitcoin, as any other real or digital currency, must have a place where it is kept. Since crypto-currency is a comparatively new thing, people sometimes feel uncertain about working with it. In reality, everything is easy and fast. Here is a short guide on how to create and use a wallet for your crypto-currency.

Creating a Bitcoin Wallet is a matter of few minutes: you just put in your e-mail address and password (try, for example). Every wallet has an identifier, which you send to anyone who is going to make a transaction on your wallet. That’s all about Bitcoin Wallet creation.

However, there are some nuances about its usage and protection. You have to think about your Bitcoin wallet safety by paying attention to the following points:

- choose thoughtfully the services providing Bitcoin wallets. It’s better to choose big and trusted platforms.

- remember that Bitcoin rate is quite changeable. So it is a good idea to keep small sums on your Bitcoin wallet and convert excess funds into the currency of your country. Don’t put all your eggs in one basket.

- make the copy of your wallet. It will help you to restore the wallet in case something happens to your PC or mobile. And encode the network reserve copies!

- don’t forget to update your Bitcoin software: it will guarantee the better safety for your money.

One more thing that you should remember: Bitcoin transactions are not anonymous. Bitcoin is the most transparent payment system in the world – all transactions are public and are saved in Bitcoin network. Every Bitcoin wallet has its own address, which is shown when the transaction is conducted, so all transactions from this address are connected. If you care about confidentiality, then use one address only once and don’t publish your wallet address on your website or network page. 

Testing Blockchain Technologies by R3 Consortium

The next few months the tempo of Ether cost has been steadily increasing. However, the last week bounce of the rate has advanced Ether to the highest league of crypto-currencies. That day (March, 3) the Ethereum capitalization increased about 26%, reaching $730 millions. It’s an impressive number, taking into account the fact that the number is bigger that the general capitalization of all other crypto-currencies, except Bitcoin. In addition, this is the tenth part of Bitcoin capitalization – no other currency has ever come so close to this number. It gives reasons to win the garland in blockchain technologies in future.

It is possible that such bounce rate was caused by the news that R3 consortium successfully led the parallel testing of five different blockchain technologies – Chain, Eris Industries, Ethereum, IBM, and Intel, drawing to process 40 banks. The innovations were highly evaluated by banks after introducing smart-contracts that should have simplified the secondary trading and purchase of securities (short-terms bonds with fixed income that are issued by corporations for additional funding). Every distributed ledger was substituted by similar smart-contract, which allowed banks to compare the difference between them. 

Vitalik Buterin, the Ethereum project founder, stated that in spite of Ethereum technology being a public blockchain, he appreciates corporate developments, based on the similar principles. It is great that there is a possibility to participate in such competitions, he added. The intellectual potential of smart-contracts, taking part in the competition, allows creating the new rules on the blockchain basis that will make possible any actions from simple distribution of assets to complex financial instruments.

Tim Grant, senior manager of R3 consortium is satisfied as well by the fact that they were able to unite eleven world financial institutions with the help of the distributed ledger on Ethereum basis. It showed how this new technology can be used for the solving of problems of real financial market processes, using smart-contracts for various actions with assets. In addition, it will give a great impulse to the development of the consortium itself and for the technology providers, he summed up.

Why Using Ad Blockers is Unethical

Many world network users consciously limit the demonstration of various advertising information by using the special programs known as “ad blockers”. We won’t review the different kinds of such programs and browsers where they work, since this article is not about it. In return, let’s discuss whether it is ethical to use such software.

Advertising has always existed, but it wasn’t such evident at first. At the first place these were oral recommendations to buy some goods, rumors and jungle telegraph, actual topics on various meetings, etc. But such way of goods advertising or information about services is ineffective and limited. With the development of informational society the art of advertising has passed to the whole new level.

Today, the advertising in the press, TV or marketplaces in the city is surrounding us everywhere. We go to work – and read the ads on the street, we rest at home – and watch the ad on TV while waiting for the news or favorite movie. However, we don’t close our eyes to miss this information flow. Mainly we sip the information and grin and bear. Still, the trademarks, that are buying the TV advertisement time, won’t go bankrupt if you close your eyes or ears during the ads demonstration. While with the Internet ads the situation can be diametrically opposite.

The big amount of websites exists just for the fees received for placing ads on their pages. It means that every user visiting the website brings a minimal profit to it. But only in the case when the user sees the ad! If the site’s visitor uses ad blockers, the website receives nothing from your visit. And this is meanly the only revenue. So how ethically right will be using the software limiting ads showing? The author assumes that this would be incorrect to use the ad blockers against people that are doing something useful. Let’s be honest – if you receive some useful information, then why not tolerate the ad on the resource you are visiting?

Micropayment Service for Bitcoin Faucets

Bitcoin is a digital currency created by a math genius Satoshi Nakamoto, the personality of whom still remains a mystery. Taking into account an accurately calculated and adjusted algorithm of crypto-currency functioning, one may assume that under his guidance the whole team of talented programmers was working, or even this is the collective pseudonym.

Created as an alternative to traditional fiat currencies, Bitcoin is a unique payment instrument, which is used with various goals: to pay for different transactions within the network, with the aim of accumulating or investment. 

When the first crypto-currency, overcoming the sceptics hesitations, started to develop and its rate began to grow, websites appeared that offered to get free Bitcoins after several simple actions and entering captcha (or without it) – these were the so called Bitcoin faucets. However, since payments are very small to be immediately withdrawn to the Bitcoin wallet, so for their withdrawal specific services for micropayments are used. Now, Faucetbox is used with this aim most frequently – it substituted Microwallet that started to fail in 2014.

Faucetbox is a system of crypto-currency micropayments. On this server small sums are transacted from the websites that give free Bitcoins, and from this server payments are calculated to the users’ Bitcoin wallets. The minimal sum for transaction is 1300 Satoshi (structural unit of Bitcoin), which is fulfilled automatically. However, this indicator can be set manually.

So you may ask a logical question – why you need this service if you can make payments independently. Momentary withdrawals of Bitcoin to Faucetbox allow miners to work more effectively, saving their time. To earn more or less sufficient sum, one Bitcoin faucet is not enough, you have to surf through several dozens and do it regularly. And now imagine how much time will take the manual withdrawal, if you sum up all transactions. In addition, the system of micropayments averts servers overloads and increases the speed of transactions.

One should pay attention to one more positive moment – all withdrawals that are fulfilled with the help of Faucetbox, are fee free, because they are provided within one resource. The majority of Bitcoin faucets works under the template of momentary withdrawal of Bitcoin into Faucetbox. The received money is transferred to the user’s account and are paid on the main wallet when the sum collected on it becomes equal to 1300 Satoshi (the sum can be changed in the settings).