Generating Bit Coin

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What is Bit Coin.

Bitcoin is a world wide crypto currency and digital payment system.

It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a block chain.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies,[products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Bitcoin can also be held as an investment.
According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a crypto currency wallet, most of them using bitcoin.
General use
According to research produced by Cambridge University there were between 2.9 million and 5.8 million unique users using a crypto currency wallet, as of 2017, most of them using bitcoin. The number of users has grown significantly since 2013, when there were 300,000 to 1.3 million users.
Ponzi scheme concerns
Various journalists, economists, and the central bank of Estonia have voiced concerns that bitcoin is a Ponzi scheme. Eric Posner, a law professor at the University of Chicago, stated in 2013 that "a real Ponzi scheme takes fraud; bitcoin, by contrast, seems more like a collective delusion."
In 2014 reports by both the World Bank and the Swiss Federal Council examined the concerns and came to the conclusion that bitcoin is not a Ponzi scheme.
BE CAREFUL AS SITES ARE POPPING UP LIKE FLIES ONLINE THAT ARE OUTRIGHT SCAMS.

This is why I decided to do the research and set up our OWN Bit Coin Crowd fundraising Programs.
REMEMBER! you need to read to succeed with any business on line.

Bit Coin Wallets.  REMEMBER  wiki and the links it contains can be edited by anyone.
Always verify that the URL to the site you are visiting is correct.
Before trusting or sending your bitcoins to any website you should always search on additional community resources to see what other users are saying about the service First..


WHAT IS A WALLET>
A wallet stores the information necessary to transact bitcoins.
While wallets are often described as a place to hold or store bitcoins.
Due to the nature of the system, bitcoins are inseparable from the blockchain transaction ledger.
A better way to describe a wallet is something that "stores the digital credentials for your bitcoin holdings" and allows one to access (and spend) them.
Bitcoin uses public-key cryptography, in which two cryptographic keys, one public and one private, are generated.
At its most basic, a wallet is a collection of these keys.
The user must have complete trust in the wallet provider.
A malicious provider or a breach in server security may cause entrusted bitcoins to be stolen. So Select Wisely...
I recommend Block Chain or Payza.
If you decide to use a different wallet provider ALWAYS do a GOOGLE SEARCH Before Using.


Block chain
http://www.blockchain.com


Sign up and take note of YOUR BIT COIN PAYMENT WALLET ADDRESS.
Click at the left settings to find your Information.
Wallet ID is your unique identifier.

It is completely individual to you, and it is what you will use to log in and access your wallet.
It is not an address for sending or receiving. Do not share your Wallet ID with others.


Click Preference and set up security.  I change Local Currency to US dollars.
The block chain is a public ledger that records bitcoin transactions.
The maintenance of the block chain is performed by a network of communicating nodes running bitcoin software. Transactions of the form payer X sends Y bitcoins to payee Z are broadcast to this network using readily available software applications.
Network nodes can validate transactions, add them to their copy of the ledger, and then broadcast these ledger additions to other nodes.
The block chain is a distributed database - to achieve independent verification of the chain of ownership of any and every bitcoin amount, each network node stores its own copy of the block chain.

Approximately six times per hour, a new group of accepted transactions, a block, is created, added to the blockchain, and quickly published to all nodes.
This allows bitcoin software to determine when a particular bitcoin amount has been spent, which is necessary in order to prevent double-spending in an environment without central oversight.

Whereas a conventional ledger records the transfers of actual bills or promissory notes that exist apart from it, the block chain is the only place that bitcoins can be said to exist in the form of unspent outputs of transactions. 

To view balances in individual wallets.. EX click Bitcoin at the top right it will show US Value.

Work your way through the list you see at the left when logging into Block Chain.

BITCOIN

Click then read information...  TO find Wallet Link CLICK ABOVE  The Request Button.
ETHER
Click then read information...  TO find Wallet Link CLICK ABOVE  The Request Button.

BITCOIN CASH
Click then read information...  TO find Wallet Link CLICK ABOVE  The Request Button.

Exchange
Click Here is where you exchange from one wallet to the other..
Example Bit Coin to Ether or Ether to Bit Coin Cash.
Where it reads   Exchange   Receive  ( I will use the example of sending Ether to My BitCoin Cash Wallet.
Exchange...   Select from the drop down Box Ether
RECEIVE ...    Select from the drop down box Bit Coin Cash.
Where it reads Enter Amount
I enter the value  Example $100
Now it reads.
0.14542493  Ether          0.05122726 BCCash
$100                                    $98.4
I did two transfers.
CLICK NEXT THEN it will read Confirm Exchange Order
Ether to Deposit  0.14542493 ETH
Transaction Fee
0.000441 ETH
Total Ether leaving the wallet0.14586593 ETH
Exchange Rate
1 ETH = 0.35185503 BCH
Network Transaction Fee
0 BCH
Bitcoin Cash to be Received0.05116849 BCH
TICK THE BOX TO AGREE... I agree to ShapeShift's terms and conditions.
Tick the blue box confirm
Follow the same process for all transactions.


Security Center
Click and take your time setting up.. MOST Important set up All Level One Steps.
Email verification is a must... They will send you an email when unusual activity is alerted.
Level 2!  Prevent unauthorized access to your wallet!  Link your Mobile Phone to receive access codes.
Settings
YOU will see individual links at the left.
Remember Wallet ID is your Personal log in wallet Id.. View at the right.
Preferences! CLICK
Mobile Number Verified       YOU will see number at the right.. Click the Blue Button to change.  SAME for Email Verified.
Wallet Language I select english from the drop down box.
Select your local currency.  I select US $$ from the drop down box.
Notifications
I tick at the right receive by email.
Security
View the list.. Wallet Password  YOU can click the blue button at the right to change.
FAQ  READ..


Now Supporting Bitcoin Cash!
We're excited to announce that your Blockchain wallet is now offering full support for Bitcoin Cash!
You can get started sending, requesting, and exchanging today.
What is Bitcoin Cash?
Bitcoin Cash is a form of peer-to-peer electronic cash that was created after a fork of the Bitcoin block chain in August 2017.
Bitcoin Cash has since grown to be one of the top cryptocurrencies, along with bitcoin and ether.
How Do I Get Bitcoin Cash?
If you had bitcoin in your Block chain wallet before the fork in August, you already have Bitcoin Cash.
If you're new to Blockchain, you can get started with Bitcoin Cash by exchanging bitcoin or ether.
Please note:
For now, Bitcoin Cash will only be supported in your web wallet. Support in your mobile wallet is coming soon!
Your Transactions
Transactions occur when you receive and send Bitcoin Cash.
REMEMBER you will already have Bit Coin CASH and ETHER  Wallets Set up within your Block Chain Network.


JOIN PAYZA HERE
https://secure.payza.com/?YQF%2fz%2fZ5EDf8stZbW8RuIQ%3d%3d


Newbies find video and training on how to send Commissions at Payza to your Bit Coin Wallet.
https://dollarwiseblog.com/bitcoinpayza/
https://youtu.be/7YCivUPZCsI


Q. What is Bitcoin?
A. Bitcoin is a peer-to-peer currency. Peer-to-peer means that no central authority issues new money or tracks transactions. These tasks are managed collectively by the network.


Q. How does Bitcoin work?
A. Bitcoin uses public-key cryptography, peer-to-peer networking, and proof-of-work to process and verify payments. Bitcoins are sent (or signed over) from one address to another with each user potentially having many, many addresses. Each payment transaction is broadcast to the network and included in the blockchain so that the included bitcoins cannot be spent twice. After an hour or two, each transaction is locked in time by the massive amount of processing power that continues to extend the blockchain. Using these techniques, Bitcoin provides a fast and extremely reliable payment network that anyone can use History
Bitcoin's public ledger (the "block chain")
Was started on January 3rd, 2009 at 18:15 UTC presumably by Satoshi Nakamoto.
The first block is known as the genesis block. The first transaction recorded in the first block was a single transaction paying the reward of 50 new bitcoins to its creator.
Bitcoins:   Cannot be printed or debased. Only 21 million bitcoins will ever exist.
Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions (and a "mining rig" is a colloquial metaphor for a single computer system that performs the necessary computations for "mining").
This ledger of past transactions is called the block chain as it is a chain of blocks.
The block chain serves to confirm transactions to the rest of the network as having taken place.
Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady.
Individual blocks must contain a proof of work to be considered valid.
This proof of work is verified by other Bitcoin nodes each time they receive a block.
Bitcoin uses the hashcash proof-of-work function.
The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus.
Mining is also the mechanism used to introduce Bitcoins into the system:
Miners are paid any transaction fees as well as a "subsidy" of newly created coins.
This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.
Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.
Pools
As more and more miners competed for the limited supply of blocks, individuals found that they were working for months without finding a block and receiving any reward for their mining efforts.
This made mining something of a gamble.
To address the variance in their income miners started organizing themselves into pools so that they could share rewards more evenly.
The Pay-per-Share approach
The Pay-per-Share (PPS) approach, first described by BitPenny, is to offer an instant flat payout for each share that is solved. The payout is offered from the pool's existing balance and can therefore be withdrawn immediately, without waiting for a block to be solved or confirmed. The possibility of cheating the miners by the pool operator and by timing attacks is thus completely eliminated.
This method results in the least possible variance for miners while transferring all risk to the pool operator.

The resulting possibility of loss for the server is offset by setting a payout lower than the full expected value.

 

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Interesting to see the Bitcoin Value was $4914.20 when I launched our Club in September 2017..
In October it has already jumped to $6289.00.
Now in Dec it is worth over 16,000..
I made the wise decision to start sending some of my Bitcoin Over to my Ethereum Wallet in November 2017 provided by Block Chain FREE.
The value when I started with Ethereum was $240
By Dec it had climbed already to $614.55.

When Block Chain Introduced Bit Coin Cash I sent over $200 from my Ether Wallet.

BCC Value was =  $1,887.67 Dec 15th 2017.