So you've got yourself a bitcoin. Congratulations! Its value was hovering around $100 at press time. But what can you do with your newly acquired digital riches? Quite a lot, as it turns out—especially if you have a penchant for projects.
More and more vendors who cater to makers accept bitcoin, a digital currency that's created and maintained by its own extensive virtual network. Bitcoins add little or nothing to overhead because they carry no inherent processing fees and can't be traced. This translates to savings on tools and materials for projects.
CryptoPrinting.com, for example, will 3-D–print custom designs for prices the company claims are about 20 percent cheaper than its competitors'. Bitcoinstore.com offers a wide variety of electronic parts, such as Arduino microcontrollers, power supplies, and cameras. Go to Spendbitcoins.com for a list of other sites that take part in the blossoming mini economy, including virtual marketplaces like Coingig.com, where bitcoin owners can independently buy and sell items from one another.
Want a bit more coin? Success isn't easy, but all you need to mine the currency is a computer that's properly configured to help anonymously secure and verify others' bitcoin transactions (for a great guide on mining, see popsci.com/bcmining). If your computer miner pays for itself, then you can start saving up for all your geekiest workshop desires.
This article originally appeared in the September 2013 issue of Popular Science.
Nice misleading article. Let's point out some more facts about Bitcoins like, they are extremely traceable. That is, that if you spend your currency on something, it is recorded where you tranferred your money. In fact, the Bitcoin site even recommends a 3rd party browser that reroutes your IP through various servers to hide your tracks. You Bitcoin value can fluctuate wildly. You could buy a Bitcoin right now and tomorrow its value could be 1/2 of what you spent on it, in the blink of an eye. That being said, it could also go up. However, putting money into Bitcoin is like putting money into the Stock Market right now. Very uncertain.
In fact, read this, from Bitcoin, before making a decision:
"Do not try and bend the spoon. That is impossible. Only try and realize the truth - there is no spoon."
This Bitchcoin thing is imho foreplay to some Apple, Google and/or Facebook-coin money, the Dollar isn't worth anything anymore cause the depth is to big to cover it, the same goes for the Euro ... they just keep on printing it like there is no tomorrow. Don't think that there is anyone out there that can say what money actually is and what vallue it has. Also those big tech-companies have become such global players with all the smartest people that they can set up their own banking system and introduce their own rules.
Thanks for including us in your Bitcoin article!
It's worth mentioning that, in addition to offering custom tailored 3D prints for Bitcoin and Litecoin, we also offer 3D-printed NFC-enabled Bitcoin tokens!
Some possible fun uses for your Bitcoin tokens are:
*Loading a private key onto it for cold storage. (Or more than one private key!)
*Loading a public address onto it for NFC-enabled swipe and pay goodness (giving you an opportunity to explain how far ahead of the curve you are to everyone!)
*Loading a link to a (your?) website or a link to your account on the blockchain, which shows your account summary!
*Programing the NFC tag to load your favorite wallet app when you swipe it with your phone
*[Your awesome idea here!]
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