Now you can receive compounded daily interest on any balance that you hold in your bitcoin account, just like that, without doing anything.
All you need to do is mantain a balance of at least 30,000 satoshi (0.0003 BTC) in your bitcoin faucet wallet.
There is no lock-in period to earn interest and your balance can be withdrawn any time you wish.
- How do you make money to pay us interest?
A bitcoin mining farm
- When is the daily interest credited?
- Is there a lock-in period or minimum investment period before I start earning interest?
- Will the interest rate be fixed forever or can it change?
It may change in the future.
Is it possible to live using only bitcoin instead of fiat money? Here is a map of countries where you can survive on bitcoin in 2017.
The good thing about Bitcoin cards is that they allow you to live without owning a single cent of fiat money. Yes, when you purchase something, your coins are converted into fiat. But you personally don’t own any dollars at all.
What is missing on the map? Definitely Australia. There are plenty of shops accepting bitcoin and there are debit card services/ATMs. You can do it in Japan as well! On the other hand, Bitcoin’s actually illegal in Ecuador.
Very much so possible in Mexico, Canada and Australia. Not easy, but possible. One of the most convenient bitcoin countries is Kenya, because it is very easy to fill up your M-PESA mobile account from bitcoins.
Pay taxes with BTC: http://www.coindesk.com/swiss-city-bitcoin-payments-government-services/
Buy groceries with BTC: https://www.edeka-lebensmittel.de/
Pay bills with BTC: https://cointelegraph.com/news/how-people-pay-bills-with-bitcoin-all-around-the-world
Where can I go to learn EVERYTHING about bitcoin? I want to learn more about bitcoins full potential and not just the money aspect of it.
- Andreas Antonopolous wrote a book called “Mastering Bitcoin”. It’s a great read for anyone who wants to know pretty much everything about Bitcoin and bitcoin.
- The Bitcoin Knowledge Podcast has interviews with CEOs from across the cryptocurrency space so you can learn about all the cool stuff they are working on at their companies.
- Bitcoin (with a capital B) is a distributed consensus system and payment rail. “Little b” bitcoin (BTC) is the mutual token of exchange for people who are using Bitcoin for payment and remittances.
- BTC is also the entry token to the distributed consensus system. For an example of an application of Bitcoin that uses Bitcoin as a distributed consensus system, check out Counterparty. In short, it uses Bitcoin like people play arcade games: insert token (BTC), but instead of playing a video game, do a stock trade, or bet on sports. Etc. It’s pretty much like a distributed E-trade brokerage built on Bitcoin, or InTrade that is censorship resistant.
- You might also learn something at www.muchbitcoin.org
Bitcoin can be divided into smaller amounts as follows:
- 1 BTC = 100,000,000 satoshis
- 1 BTC = 1,000,000 bits
- 1 bit = 100 satoshis
And in the future… 1 bit = 1$, right?
Bits fit into all existing financial software with two decimal points of precision such as EVERY other form of money. Easy to understand without having to get used to weird zero prefixes.
I think “bit” is a perfectly good way to describe the unit, in the same way people say “buck” for dollar. It’s not necessary to call it by some mathematically precise name, rather what’s easily adopted – which some wallets already have.