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Showing posts from November, 2017

Organizing your funds in Blockchain Wallet

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Organizing your funds in Blockchain Wallet: Here is the step by step guide in organizing your funds in Blockchain Wallet. Read also: Requesting Bitcoin in your blockchain wallet When you click on Addresses within Settings, you can view and change how your wallet is organized. If you're exploring this section for the first time, you should see a default category called My Bitcoin Wallet.

Directly below this, you can click on Add + to create a new one.
Your new category needs a name! You can get as creative as you want, but some common examples include Savings, Spending, and Business Expenses.

You can create as many of these as you need.

Before you begin receiving payments to your wallet, make sure you've completed the Wallet Recovery Phrase process. Your wallet recovery phrase is your backup plan - literally.

It's a backup of your private keys that you can use to recover your funds if you ever lose access to your wallet.

Balances from imported addresses are not included in the rec…

Requesting Bitcoin in your blockchain wallet

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How to request bitcoin in your blockchain Wallet: Looking for how you can request bitcoin in your blockchain wallet? If yes, we'll be showing you in this post the step by step guide you must follow to request bitcoin in your Blockchain Wallet with ease.
The Blockchain wallet will generate a unique bitcoin address each time you want to receive funds. This enhances the privacy of your wallet balance, and transaction history.

Read also: Why is my bitcoin address changing in my blockchain wallet?

To quickly generate and copy a bitcoin address to your clipboard simply click on the clipboard to the right of Request. You can find imported addresses via Settings -> Addresses -> Imported Addresses.
Request To request a bitcoin address for receiving funds simply press Request at the top of your wallet. The following will be displayed: If you only need to share the bitcoin address with another user then simply press Copy to the right of the bitcoin address displayed, and this address will…

Why is my bitcoin address changing in my blockchain wallet?

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Why is my bitcoin address changing? Looking for the reason why your bitcoin address is changing? Here, we shall be sharing with you in this post the reason why you're experiencing that on your blockchain wallet.
Blockchain wallet is built on an HD (or hierarchical deterministic) framework, which has a different method for address generation and management.  Each public address your wallet generates stems from your wallet's xPub (or Extended Public Key). Once your public address receives an incoming payment, a new address will automatically be generated and display when you click on receive. 
Read also: How to make a wallet backup on blockchain wallet
If you use the same address each time you receive funds, it becomes easy for anyone to track your entire payment history. This method of address generation improves privacy by automatically presenting you with a new address when you’re expecting payment.

How to make a wallet backup on blockchain wallet

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How do I make a wallet backup? Hey there. Looking for a guide on how to do wallet backup? We'll be showing you in this post how you can go about this. The procedure is very simple and with what we shall be sharing with you here, you shall be able to get this task done with ease. So, endeavour to read this post with a keen attention. 
Blockchain Security Center Guide covers the backup process in more detail with step-by-step screenshots. For a less detailed explanation, keep following below.  To make a wallet backup, log on to www.blockchain.info and then go to Settings -> Security, and Backup Phrase at the right. You can choose to print the recovery sheet template Blockchain team created, or use your own template. 
Read also: Blockchain Wallet: What to do if you forgot your password
Go to Next Step to begin writing down the phrase. Each step will show you 4 words at a time. Ensure you write them exactly as they appear, and in the proper order. 
Click Next 4 Words to continue until y…

Blockchain Wallet: What to do if you forgot your password

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I forgot my password. What can you do to help? Have you forgotten your blockchain Wallet account password?

Unfortunately, blockchain team are unable to help you regain access to your wallet if you've lost or forgotten your password.
Read also: Can my transaction be canceled or reversed on BlockChain Wallet?
This is because they don't have access to your wallet or your wallet password. If you find yourself in this situation, blockchain team recommends trying the steps below:  1. Try to log in using every possible password combination you may have used. 
2. Your 12 word Wallet Recovery Phrase can be used if you forget your password. 
Enter the phrase using this form to create a new wallet that contains all the bitcoin addresses and balances contained in your previous wallet.

Bear in mind that this process does NOT include funds stored in any Imported Addresses.

Can my transaction be canceled or reversed on BlockChain Wallet?

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Blockchain Wallet: Can my transaction be cancelled or reversed? So many persons wish to know if they can cancel the initial transactions they've made on blockchain via their wallets. 
To proffer solution to this, we decided to do a little or a mini-research on this subject. In the course of that research, we came up with this answer which what triggered this post.
So, if you're the category of persons that wish to know if their transaction can be cancelled or reversed in their blockchain wallets, then this post is for you and your friends. Read it with a keen attention and comply with all instructions.
Read also: Blockchain Wallet: Why hasn't my transaction confirmed yet?
No, Blockchain team are unable to cancel or reverse your bitcoin transaction. Even many advanced bitcoin users can recall an incident when they failed to double-check their transaction details and they accidentally sent bitcoin to the wrong recipient or sent the wrong amount. 
As unfortunate as it is, transact…

Blockchain Wallet: Why hasn't my transaction confirmed yet?

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Blockchain Wallet: Why hasn't my transaction confirmed yet? Have you made any Bitcoin transaction on Blockchain and is yet to be confirmed? If yes, then see what we've to tell you here.
Every bitcoin transaction that's sent flows into what's called the mempool (short for memory pool) before it can be confirmed by miners.  When there's a dramatic spike in transaction activity, the mempool can become congested because so many transactions are waiting to be included in the next block. 
Read also: Do Bitcoin Mining Energy Costs Influence Its Price?
Bitcoin users across the network may notice their transactions sit as unconfirmed or pending for a longer period of time, and we understand this can cause users to be concerned about the status of their funds. In most cases, your transactions will eventually confirm. It may just take longer than usual to do so. 
Bear in mind that the Blockchain Wallet has an Advanced Send option that allows users to specify a custom fee and this …

What Happens to Bitcoin After All 21 Million are Mined?

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What Happens to Bitcoin After All 21 Million are Mined? Bitcoin is like gold in many ways. Like gold, Bitcoin cannot simply be created arbitrarily. Gold must be mined out of the ground, and Bitcoin must be mined via digital means. Linked with this process is the stipulation set forth by the founders of Bitcoin that, like gold, it have a limited and finite supply. In fact, there are only 21 million Bitcoins that can be mined in total. 
Once miners have unlocked this many Bitcoins, the planet's supply will essentially be tapped out, unless Bitcoin's protocol is changed to allow for a larger supply.  Supporters of Bitcoin say that, like gold, the fixed supply of the currency means that banks are kept in check and not allowed to arbitrarily issue fiduciary media. But what will happen when the global supply of Bitcoin reaches its limit?  Effects on Bitcoin Miners  It may seem that the group of individuals most directly effected by the limit of the Bitcoin supply will be the Bitcoin min…

Risks & Rewards Of Investing In Bitcoin

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Risks & Rewards Of Investing: In Bitcoin: Bitcoin, it seems, is everywhere. It’s in the news. It’s on phones. It’s even available at ATMs across the globe. Its fast rate of growth and adoption are attracting a lot of attention. 
And like any interesting, fast-growing business, it is attracting the interest of investors. All of which leads to the question, since Bitcoin is not a company and therefore does not have a publicly traded stock, how can you invest in it? 
Buy Some  Perhaps the easiest way to invest in Bitcoin is to simply buy some. This strategy paid off handsomely for early adopters of the digital currency. In July of 2010 you could have bought a single Bitcoin for about $0.06.  In December of 2013 you could have sold it for about $979.45, locking in a handsome profit. On the other hand, if you bought in December 2013, your nearly $1,000 investment would have been worth less than $240 by May 2015. If you are gambling person, you can bet that the price will rise again. If you…

What Is Bitcoin Unlimited?

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What Is Bitcoin Unlimited? There is always so much happening around digital currencies, especially bitcoin. A new term, ‘Bitcoin Unlimited’, has been floating around for some time now. So what exactly is Bitcoin Unlimited? Will it result in a hard fork (forced splitting off of the currency)? 
The issue revolves around the size of the blocks which are added to its blockchain. Blocks are files where data pertaining to the bitcoin network is permanently recorded. A block records some or all of the most recent bitcoin transactions that have not yet entered any prior blocks.  Thus a block is like a page of a ledger or record book. Each time a block is ‘completed’, it gives way to the next block in the blockchain. A block is thus a permanent store of records which, once written, cannot be altered or removed. 
Read also: What is Bitcoin Mining?
Bitcoin blocks have a limited ‘storage’ capacity of 1MB since the beginning and under the current popular system of Bitcoin Core. However, Bitcoin Unlimi…

What is Bitcoin Mining?

What is Bitcoin Mining? Hey there. Welcome to Bitcoinometrics. Today, we wish to take a closer look at what we titled ''what is bitcoin mining?'' The reason is that a lot of persons are still puzzled about the existence of bitcoin. Do you wish to read or know how bitcoin works, if your answer is yes, then you can click here to see how. 
Okay, I don't know if you've ever wondered where Bitcoin comes from and how it goes into circulation. 
If you've ever wondered where Bitcoin comes from and how it goes into circulation the answer is that it gets "mined" into existence.

Bitcoin mining serves to both add transactions to the blockchain and to release new Bitcoin. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.

Read also: How Bitcoin Works | How does Bitcoin work?

The first participant who solves the puzzle gets to place the next block on the blockchain and claim the rewards. The …

How Bitcoin Works | How does Bitcoin work?

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How Bitcoin Works: How exactly to interpret bitcoin is a matter of controversy - as a currency, a store of value, a payment network, an asset class? Fortunately, leaving the economic debates aside, it's pretty easy to answer what bitcoin actually is - software. Don't be fooled by stock images of shiny coins bearing modified Thai baht symbols. Bitcoin is a purely digital phenomenon, a set of protocols and processes. It is the most successful of hundreds of attempts to create virtual money through the use of cryptography – the science of making and breaking codes – though competition is heating up.

The Blockchain  Bitcoin is a network that runs on a protocol known as the blockchain. A 2008 paper by a person or people calling themselves Satoshi Nakamoto first described both the blockchain and bitcoin, and for a while the two terms were all but synonymous. 
The blockchain has since been conceptually divorced from its first application, and thousands of blockchains have been created us…

How Does Bitcoin Mining Work?

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How Does Bitcoin Mining Work? Looking for how bitcoin mining works? If yes, we'll be showing you in this post how bitcoin mining works. Just follow me as a take you through the process. 
Cryptocurrency mining is painstaking, expensive, and only sporadically rewarding. Nonetheless, mining has a magnetic draw for many investors interested in cryptocurrency
This may be because entrepreneurial types see mining as pennies from heaven, like California gold prospectors in 1848.
And if you are technologically inclined, why not do it? 
Well, before you invest the time and equipment, read this explainer to see whether mining is really for you. We will focus primarily on Bitcoin.

Why should I mine? 
By mining, you can earn cryptocurrency without having to put down money for it. That said, you certainly don't have to be a miner to own crypto.

You can also buy crypto using fiat currency (USD, EUR, JPY, etc); you can trade it on an exchange like Bitstamp using other cryptos (example: Using Ether…

Do Bitcoin Mining Energy Costs Influence Its Price?

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Do BitcoinMining Energy Costs Influence Its Price? Several recent reports have drawn attention to the massive amounts of energy used for bitcoin mining operations. The statistics are staggering. According to the Digiconomist website, a bitcoin country would rank 64th in the world for overall energy usage. 
Bitcoin’s annual energy consumption is estimated to be 30 TWh. (Wikipedia defines one terawatt hour as being equal to a sustained power of 114 megawatts for a period of one year). On a more granular level, approximately 10 U.S. households can be powered for a single day using electricity required for a single bitcoin transaction.
Energy accounts for between 90% to 95% of bitcoin mining costs and plays an extremely critical role in determining profitability for the cryptocurrency’s miners. In turn, profitability is important to attract more miners and grow the bitcoin mining ecosystem as demand for bitcoin spirals.

The Relationship Between Mining Energy Costs And Bitcoin Price 
Energy us…

Bitcoin Price Sets Another Record High By Crossing $9,000 Mark

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Bitcoin Price Sets Another Record High By Crossing $9,000 Mark: Bitcoin investors have much to be thankful for. 
At the start of the long weekend, the price for one bitcoin was $8,224.78. At 07:14 UTC today, it registered a new high of $9,043.19, the first time that it has crossed the $9,000 mark.

By 13:57 UTC, it was down to $8,990.26, still up 2.58% in the last 24 hours. Bitcoin’s latest price movement sets it within sight of billionaire Michael Novogratz’s $10,000 price target by the end of this year.  It is also a reversal of sorts from the digital currency’s moves at the beginning of last week, when its price rose or declined in small quantities. 
The price for Ethereum and Bitcoin Cash, which both set record highs in the last couple of days, mostly stayed constant. The swell in bitcoin’s price helped the overall market capitalization for cryptocurrencies rise up to $285.4 billion.

The velocity of bitcoin’s upward trajectory has surged in recent times. It covered the distance between …

How to Buy Bitcoin | Step by step

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How to Buy Bitcoin: Recently, a friend asked me to brief him on how he could buy bitcoin online. In the long run, I also discovered that a lot of people just like my friend are in dire need of the step by step guide on how they could also buy Bitcoin. 
Well, if you're looking for the step by step guide on how you can buy Bitcoin, we'll be showing you in this article the complete guide on how you can buy Bitcoin online without stress at the comfort of your smartphone or personal computer, PC.

Here, we shall be brief as we could so that everyone who wishes to undertake this task can follow along and get it done with ease.

Okay, let's get started.
You can buy Bitcoin easily, in a process as simple as signing up for any mobile app. The procedure is very simple and easy. Just follow the step by step guide below to do so.
To buy Bitcoin, first, Sign Up for a Bitcoin Wallet Before you buy Bitcoin, you need to download a Bitcoin wallet by going to a site like Blockchain.info, or to a mo…