New Bitcoin and Ethereum Wallet ATMs in our Inn

Ethereum, ethereum wallet you can find at this site; these are crucial tools for Ethereum mining. For they are part of the revolution that is taking place in the online sphere. Yup, this is pretty much what I do in my free time. 😉 I’ve compiled a bunch of details for you guys who don’t know anything about cryptos.

At our Inn, you’ll be happy to hear we now have Bitcoin ATMs. It’s a trial and hopefully it goes well. If you want to purchase Bitcoin or ethereum, just head over to Stand Up Inn!

How familiar are you with Cryptos?
How familiar are you with Cryptos?

In the recent years, we’ve seen the advent of cryptocurrencies with Bitcoin leading the pack. This is a form of currency that is based on what is called blockchain technology. The idea behind Bitcoin was improved, and thus the birth of Ethereum and thus terms like ether and ethereum wallet in 2015. Before we delve into the mining of Ethereum, let’s take a look at what it is in particular.

What is Ethereum?

Ethereum, in technical jargon, is a peer-to-peer connection of virtual machines, which are in turn used to run distributed applications (Dapps). The applications can be about anything. The whole network is then optimized in a way that it sees to it that all the rules are carried out; rules that execute mechanically when conditions stated in a contract are met. Like Bitcoin, Ethereum also has a public blockchain of its own which is decentralized and cryptographically stores, executes and protects all the contracts in the blockchain.
For all this to be successful, every computer in the network has to have a small virtual machine, so as to be in sync with the Ethereum blockchain. Once it is synchronizes with the blockchain, it then remains available to execute contracts. With the distributed network, there is provision of security, reliability as well as the required computing power; all which are necessary in the carrying out of the designed arrangement.

How to mine Ethereum

On the Ethereum blockchain, ether is the digital currency and with time, it has grown to be the second largest cryptocurrency. While there is the option to buy ether in the open market, other people opt to ‘mine’ it, by use of their computer power, in validating and confirming the transactions executed in the Ethereum blockchain, in what is called proof-of-work (PoW). These ‘miners’ in turn receive blocks of ether. A block is usually expected to be found in every 12 seconds.

Mining for Ether indirectly

This is the easiest way to mine for ether through various cloud mining services. In this, individuals are given the option of buying contracts to enable them mine virtually. When mining, they use the resources of a company such as Genesis Mining. The profitability in mining ether, usually fluctuates, depending on the market price and the difficulty in mining, that is the aggregate mining power that is online.

Mining for Ether directly

One, you have to have an Ethereum wallet. This can be found online in sites such as Ethereum Wallet. The ethereum wallet acts as your virtual ether account and holds all your digital currency. Once you earn, you can send the coins to the ethereum wallet as well as any mining rewards.

Graphics Cards for Mining
Graphics Cards for Mining

Once you set up an ethereum wallet, the next step is to download a program called Geth, which enables your computer to talk with other computers in the Ethereum network. The program also receives info when a block is mined by another computer and also brings your copy of the blockchain up-to-date. The program is usually in command line.
With your ethereum wallet and Geth program, the next step is to download Ethminer, a program that will initiate the mining activity as well as process it. The program is also in command line.

Benefits of Ethereum

Smart contracts
A smart contract is simply a program that is written in the high-level programming languages available in Ethereum such as Serpent or Solidity. Once a program is written, it is then enlisted into a special transaction, alongside a small amount of transaction fee. If the transaction goes through or is executed, the program gets stored in the blockchain. A smart contract in an Ethereum wallet blockchain is securely protected by the system. It is also shielded from being taken down by third parties such as monitoring bodies. In fact, it is impossible to do so due to the fact that the system is decentralized, and each transaction has to be verified by every computer in the network.

Decentralized application (Dapp)

Decentralized applications diagram, related to Ether.
Decentralized applications diagram, related to Ether.

In a bid to rule out the involvement of a third party, these apps are responsible for facilitating interactions between users. Anything that happens between users is left among them. These applications are thus responsible for making Ethereum not only more efficient, but also do away any danger to privacy. At Ethereum Wallet, you can start mining for ether by setting up an online ethereum wallet. Pretty useful for a D’App, right? Be sure to grab some Btc and Eth from our ATMs in our Inn!

Best Bitcoin Wallet for Hotel Bookings Accepted

Big travel sites like Expedia have started accepting Bitcoin for bookings. It’s no wonder why, considering how much growth Bitcoin’s price has experienced in the past year. The Wall Street Journal reported that Expedia is the first to accept the online digital currency, Bitcoin, for its hotels. There’s a huge market for these companies to do business with users who are on the Best bitcoin wallet as they provide the greatest profits to companies. If it is easy to send and receive money, people will naturally use it.

How the User Pays

If you want to try booking a hotel with Bitcoin, look no further! It’s extremely easy to setup the best bitcoin wallet through here as they allow anyone to get a wallet easily. From there, just buy some Bitcoin from your friends or an online exchange. Make sure to transfer your BTC to the wallet, as exchanges are not meant to be used for fast transactions.

Will it fare well?

With much success, startups have received crowdfunding for Bitcoin projects with tens of millions of dollars. But will the average consumer use Bitcoin to pay? It’s very likely that adoption will take longer with the average person, since they have less foresight than the average rich investor. Of course, it’s a sign that Bitcoin is still in its development stage and will grow to become a dominant currency in the world, just like the dollar or euro.

The best battle: Bitcoin Wallet takes on the Dollar
The best battle: Bitcoin Wallet takes on the Dollar

Companies who accept Bitcoins from bitcoin wallets can expect to receive a lot of good press from the Bitcoin community, who is very rich and powerful. This is certainly a good thing for these companies, as it provides mutual benefit to both investors and companies who operate with Bitcoin in their markets.

What Other Companies Accept Bitcoin?

A hotel in Europe accepts Bitcoin through their ATM.
A hotel in Europe accepts Bitcoin through their ATM.

The number of companies and individuals who have started integrating Bitcoin into their business has been staggering. From JPMorgan, to Tim Draper, to the average investor, everyone has had a taste of the Bitcoin world. Tim Draper’s bitcoin wallet has $20 million worth of Bitcoin, and he is reportedly still buying! The good news is that BTC is also up 200% since this year, from $200 to $700. It’s really incredible how quickly the price is rising and how fast companies are integrating this technology.

What’s next for Bitcoin Wallets?

Since the creation of Bitcoin, its services have also been improving since day one. The most notable service is the Bitcoin wallet. The best bitcoin wallet will obviously have the fastest interface and the largest number of features. Multi-signature wallets have been implemented recently. The next big idea for wallets is the smart contract feature. Some startups have already receive funding from the community to work on smart contracts for Bitcoin, in order to compete and prevent Ethereum from overtaking BTC’s market. Sitting at $1B market cap, Ethereum truly seems threatening to Bitcoin’s dominance in the past few years. With Segwit, we hope to see more growth in the blocksize to allow a greater number of transactions per second. This is how BTC will scale into the future.

Hotels, Pizzas, buy anything with your Bitcoin wallet!

For BTC to grow, we have to spend it. And accumulate it. And tell people about digital currency. As word continues to spread, we’ll have a greater amount of market capitalization in the industry. This means the coins in the best bitcoin wallet you have will grow due to deflation. In fact, Bitcoin’s supply is limited to 21 million coins. This means you don’t lose value when BTC stops being produced by miners! In fact, investing in Bitcoin is the best way to generate an income. The mining market is dominated by huge whales with large amounts of hardware experience. It’s fruitless to mine, while it’s an breeze to buy Bitcoin.

Ethereum Wallet or Bitcoin Wallet?

Recently I picked up my own ethereum wallet. Let’s make thing clear though. We’re excited about Blockchain technology. Heck, we’ve been excited about Bitcoin for years. Sitting at $10 billion dollars of market cap right now, Bitcoin is the leader in cryptocurrencies. But will it stay that way forever?

The Case for Ethereum

  • Smart Contract Codes in Ethereum
    A smart contract is a piece of code, written in the high-level programming languages available in Ethereu. Namely, they would be Serpent or Solidity. The program’s code is inputted into a specific transaction on the chain, along with a fee of course. After the execution of the transaction, the code is finally stored in the blockchain. It is now securely protected by the Ethereum ecosystem.
  • Decentralized Applications
    These applications make it possible for users to directly communicate and transact directly and securely. This eliminates a need for centralized companies. This of course, is handled by Ethereum’s code. Efficiency is highly increased as a result of this. Users no longer need to wait for random strangers to setup websites to store their coins in. They no longer need to risk their precious Ether in third party exchanges. In addition, all their information is protected from others.
  • Faster Transaction Confirmations. However, this does not translate to secure confirmations. It’s a very good point for marketing their product.

The Case for Bitcoin

Bitcoin is still leading heavily in the cryptocurrency realm. It has not only stood the test of time, but was the most innovative product since the invention of the internet. That deserves a degree of respect.

Bitcoin can do everything Ethereum can. It’s just harder.

In case you didn’t know, Bitcoin and Ethereum are similar. They both operate on a public blockchain. You can get a Bitcoin wallets, and an Ethereum wallet. It’s just that Ethereum was designed with more features in mind, presenting real advantages over Bitcoin. It begs the question: is Ethereum simply all hype? Users won’t switch to Ethereum if they can already do everything they want to on Bitcoin. With that in mind, there are some real challenges to any coin competing against the top dog.

Bitcoin is immutable (ahem)

The Ethereum community recently decided to hard fork and take away coins from a hacker on the chain. The user took about 12% of the Ethereum currency on the market from dao contracts, and ethereum wallets, making many investors feel outraged. So what did they do? The Ethereum developers decided that it was a good idea to hard fork. In case you don’t know what that means, it’s basically reversing time and invalidating the hacker’s transactions. While this seems beneficial, it goes against the whole idea of decentralization. How can a coin be decentralized if the developers can take coins from one person and hand it to another?

The Unclear Winner

My personal bias says Bitcoin will stand for another few years. Ethereum’s features just aren’t competitive enough. The infastructure and community behind Ethereum doesn’t seem to be all that great. They both have gambling sites. They both have Bitcoin wallet or Ethereum wallet websites. Bitcoin has had many years to develop their community and will likely force Ethereum down as cryptocurrencies get more popular.

How to code effectively

Coding is really hard.

Yes, coding is hard, but only if you don’t do it effectively.

You may have heard this kind of thing from people who aren’t all that into technology and building things. The way we see it, coding is about building the product, not the coding experience itself. I mean, who loves fixing bugs all day and building a piece of software for only about 10% of the time? Bugs are everywhere all the time.

You just have to push through those hardships to experience the best part of actually seeing what you’ve built. Now, this process may take days or even weeks (hopefully not 20 years!) to do. But if you start off small, and do it in bite sized pieces, you can build projects very quickly and effectively. Finally, let’s end on a really good quote.

Work hard, dream big.
Just a reminder to everyone that it’s truly worth it.