Bitcoin
Bitcoin, also known as BTC, is a digital currency released in 2009 by a group of men known as Satoshi Nakamato.
Bitcoins can be traded instantly* by anyone to anyone. The only requirement for using bitcoins is having an address to a wallet. You can acquire such an address through the softare provided by the bitcoin maintainer, other third party wallet software, or multiple online wallet services.
Bitcoins can be acquired through mining with your CPU or GPU (video card), or purchased from dealers and bitcoin exchanges.
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Getting started
The first thing you will have to do in order to enter into the bitcoin world is to get a wallet and bitcoin address. This can be done using an online wallet service or by downloading the official client from the link below.
The official client currently (2013-03-28) requires 8GB of hard disk space to start with, and that space will grow with time. The reason for this is that the block chain which holds all of the transactions is downloaded and stored locally. The block chain holds the required information for all transactions made on the network. You can use the block chain to verify that transactions are real, and to verify if payments have been sent or received.
Using an online wallet can help avoid storing 8GB+ of data on your local disk drive, but you are also entrusting all of your bitcoins with the online wallet service. For some people, the benefits, such as access to the wallet from anywhere you can get online, might outweight the risks of having to trust the provider and their security.
The following links are the beginners essentials. You can download the official client from the site linked below:
- Download the official Bitcoin wallet, Bitcoin-Qt
- The official Bitcoin website
- We Use Coins - learn about bitcoins; basic information
- The Bitcoin Wiki - a lot of information
- Bitcoin Charts - realtime quotes from the major sites
- Bitcoin Block Explorer - stats from the bitcoin network
Online wallets
Bellow is a selection of online wallets. In some cases, such as with Coinbase, the account also has other services, such as buying coins for a fee.
- Coinbase Bitcoin Wallet
- Instawallet - instant wallets provided on the fly by unique URL
- BlockChain Bitcoin Wallet
Free Bitcoins / Bitcoin Faucets
The following websites either distribute free coins or offer coins as payment for various services such as viewing websites or completing "offers".
| Site | Description |
|---|---|
| BitHits | Three "tickets" daily. |
| Bitcoin Addict | Once per day. |
| Bitcoin Faucet | Twice per day but takes a minimum of 0.01 BTC accumulated to withdraw. |
| Bitcoiner | Once per day. |
| Bitcoins 4 me | One request every hour. |
| BitCrate | Pretty good payout when it actually has coins; follow its twitter. |
| Bunny Run | Daily requests, from 0.04 mBTC to 0.1 mBTC. |
| CoinAd | Hourly requests if you register, otherwise only once per day. It has a chat page where you can potentially earn 0.01 mBTC with every message - again, only if you register. |
| Coin Reaper | 0.02 mBTC available daily, plus it can provide you a simple way to keep track of other faucets. |
| Cointicket | A news post says it will pay out "later." |
| Daily Bitcoins | 0.01 mBTC is available every hour. It sometimes gives Peerbet vouchers/bonuses. |
| NetLookup | Daily request for coins. |
| TenDrawBTC Daily Scratchcard | Daily request. May be out of funds when you try. |
Paid to view
These sites pay you to view a page. The length of time to leave the page open can range from 10 seconds to 5 minutes. You don't need to be present for the timer to ffinish for most of them.
| Site | Description |
|---|---|
| BitBucks | I haven't used the site myself, so I can't comment on if it pays out or works. |
| Bitcoin4you | This is another excellent site with high payouts but it's not as popular and so has less advertisers to view. |
| Bitvisitor | The best site I've used so far and it pays out hourly. High payouts, but more importantly, lots of advertisers. |
| CoinVisitor | You need to solve a simple captcha at the end. The page display time is usually 10 seconds. |
| EasyBitcoin / bitcoins easy | Very low payouts to view sites or other offers. |
| CoinTube | Get paid to view videos. |
| Earn Free Bitcoins | When this site actually has advetisers for you, it pays out pretty well. |
| I want free Bitcoins | This site is pretty broken and I'm not even sure if it actually has any offers or will ever pay out. |
| BitcoinGet | Another site to view videos for BTC. It might be a scam in that it rarely or never says that you viewed the video. |
Bitcoin gambling
After you've acquired some coins, you might want to gamble with them for a chance to make some easy profits. The only thing that needs to happen here is sending your bet to one of the addresses below (at least 0.5 BTC). If you win, you get money sent back to the wallet you sent from. Make sure you use an address you can receive funds to, like an address from the official wallet.
| Odds/payouts | Address to send bet to |
|---|---|
| 25% win odds, 3.839x payout | 1zKD7P2PgEALbaExNjsEmGzuov6KCuaTT |
| 45% win odds, 2.133x payout | 136HiTXjxmmnMChBA7ktgwGrk5de8zgrbi |
| 50% win odds, 1.92x payout | 1AAdPfRsTRhymwCupwecK4HyW9do2gRWF3 |
| 55% win odds, 1.746x payout | 1CvX67tGF6hGQzQjDCKGjLTyc7hssYwfvo |
| 75% win odds, 1.28x payout | 1D3nq8D65hNcvufCXm6pHXM8FUyzhD1CmY |
| 95% win odds, 1.011x payout | 1S4YobS4tH4tUCVPrE5eifrz4Puyxbrey |
Other gambling related sites:
