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Do you consider yourself to be a Bitcoin “idiot”? Then you are going to love the latest offering in the literary market for the currency.

Gustaf van Wyk, an Australian who is obviously very enthusiastic about the possibilities Bitcoin has to offer, puts his best foot forward to illuminate those who need a little extra help with The Idiot’s Guide to Bitcoin, which is available primarily through his own website.

The guide is quite comprehensive when it comes to introducing Bitcoin to the beginner, and the timing couldn’t be better, as it has burst into mainstream acceptance and been the subject of much in the way of media coverage. There are a lot of people making their move in Bitcoin, including the Winklevoss twins, who are trying to start an exchange-traded fund in an attempt to catapult this currency to a new level.

This is not a book about that kind of thing, however; it is necessarily aimed at people who are considering speculative investments in Bitcoin, or those who are looking to launch a start-up dedicated to the virtual currency. It is more for the consumer, who will use it as a medium of exchange, because the author feels that is the best way for the Bitcoin economy to grow.

According to van Wyk, “…we can take a significant stand against the fight that Bitcoin will have to inevitably endure before it can truly change the world.” That’s some very high-minded stuff.

There are some very difficult parts of the whole Bitcoin process that van Wyk has to cover, and in that way it requires some artful simplification of the technology that surrounds the protocol, from mining to establishing a wallet to obtaining Bitcoin through other means to making purchases with it online.

The author reports that he has received quite a few favorable reviews. And why wouldn’t he? This has been a very strong educational tool, and we all know that this subject can be a very difficult one to explain to the layman, creating a need for a book of this nature.
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Bitcoin Foundation

There has been something of a change at the top of the foremost advocacy group for Bitcoin.

Jon Matonis has recently been named executive director for the Bitcoin Foundation. Is that a big step forward? Well, Peter Vessenes, who is the outgoing director, feels as though Matonis’ “work experience and passion for Bitcoin will combine into something awesome” for the organization’s efforts.

Vessenes says that he is going to concentrate on what he thinks is more suited to him, which is “strategizing, building relationships, fundraising and speaking.”

Matonis describes himself as being “focused on expanding the circulation of nonpolitical digital currencies.” He has been a financial executive for a number of companies, and has also been on the Board of Directors for the Bitcoin Foundation from its inception. He is also a tech contributor to Forbes magazine and is one the board of Tradehill, founded by Jared Kenna, which was the first established U.S. Bitcoin exchange platform.

He also had an eight-year tenure as the Managing Director for the Lydia Group, which involves itself with consultation in a number of different areas, including digital currency, bitcoin brokerage, casinos and betting, payment processing and more.

Matonis will dedicate some of his focus to making Bitcoin something with more of a worldwide reach, and wants to move quickly as he is looking to be strong.

Toward that end, he is intent on being inclusive of what he calls “the various constituencies within the global bitcoin community.” And he realizes that since the majority of the organization’s membership is based outside of the United States, the focus and activities of the B.F. need to reflect that. For example, he intends to hold major Bitcoin conferences outside of the country, although with meetings that have taken place recently in London and Buenos Aires, it appears that kind of thing is already starting to happen.

He concedes that there are “institutional forces opposed to unfettered Bitcoin growth.” And he will continue the organization’s aggressive stance when it comes to legal defense of bitcoin usage. Specific committees have already been set up at the Bitcoin Foundation to address some of the more pertinent issues facing the protocol / currency.
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Bitcoin Miners

Folks like to mine bitcoins for a number of reasons, and regardless of what their specific reason is, no one can really blame them. Obviously, anyone who has gone out and purchased special equipment for the purposes of mining is desirous of bringing about a result. That result is to solve blocks and put bitcoins into their wallet, from where they might be sold. Profit is the goal for the most serious miners, and they are confident that they are dealing in a currency that has a very bright future, because they are expecting that their value, relative to other currencies, is not only going to hold, but also go up.

However, beyond those financial motivations, there are other reasons why people get involved to the extent they do. It is conceivable to say that their interest is altruistic in a sense. There is a certain attitude of cooperation that pervades the entire bitcoin experience. And we say that even though the pursuit of bitcoins itself is individualistic, capitalist, independent, competitive – even opportunistic. They can put all of that aside for the greater good. You see, they realize that the stronger the network, the greater the value in the overall product. And when there is more value in the product, then everybody who deals in bitcoin is better off. And, we might add, a residual, though not inconsequential, effect of this is that the bitcoins are going to be worth more money.

It makes all the sense in the world, of course, and it is a ruling principle of all economies. Remember always that bitcoin is an economy unto itself. You can visit exchange sites and you will see the value of one unit of bitcoin measured against units of other currencies such as the United States or Canadian dollar, the Japanese Yen, the British Pound, the Euro, South African Rand and other currencies. Because it can be exchanged, there is an inherent value, and that means something to all the people who have it.

Those who have bitcoins are very hopeful that they will be able to retain some real value, and in fact, hope to see an appreciation in that value, as time progresses, especially since there is going to be a limited amount available. That differs from the U.S. dollar, which has seen massive infusions at will in the past, thus creating inflation. Bitcoins have a better chance at maintaining some value.
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Bitcoin Mining Brings Technology to the Fore

Are you a fan of technology? Then you may like the idea of bitcoin mining very much. Not only does it involve cutting edge computer action, including putting together an ensemble of equipment that is second to none, but there are constant innovations in terms of the hardware that is Whatsminer M30s++
required, and that is something that is always going to be extremely exciting.

There are a lot of technological innovations that are working at once when you look into this world. There is a tremendous demand for database, of course, and the kind of activity that must be undertaken during the process is something that obviously demands a tremendous amount of computing power; so much so that it is not unusual at all for teams of people to get together and combine their resources, all working toward the common goal, which is bitcoin mining, of course.

When people are fully engrossed in this whole process, it is absolutely imperative that they stay on top of everything that represents a technological advancement. The reason for this is that when folks aspire to do bitcoin mining successfully, and at a high level, they know they are competing with others to “get there first.”

Loads of people enjoy it, however. There is something very different about bitcoin mining, because at the end there is discovery, somewhat like a gold strike, that will ultimately reward those who succeed at it. As the hardware has now accelerated into the ASIC stage, it is literally flying like a jet to the stratosphere.
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Author's Bio: 

I am Mike Thomson from Karachi Pakistan, Iam a digital marketer, my agency name is sohbadigitalmarketing.com