A year ago, Bitcoin (BTC) was in pretty bad shape with its fees climbing to ridiculous levels due to some arbitrary network limitations. This caused a lot of problems in the marketplace with people not wanting to use their BTC to make purchases at local businesses around the Keene area who were accepting the world’s first decentralized cryptocurrency.
Thankfully, Portsmouth-based Anypay came along to save the day at retail with the launch of their Point-of-Sale crypto merchant payment processing system that added DASH as an alternative to BTC. With the ability to choose what to accept at their POS for the first time ever, local merchants eagerly jumped onboard with Anypay and got set up to accept DASH in addition to BTC. As a result, customers were able to avoid the BTC fees by paying with the sane, fast, affordable DASH.
However, only retail’s problems were fixed by Anypay. Cryptocurrency activists in the area were still hurting because the BTC fees had killed one of the most effective forms of direct outreach – printable Bitcoin tips! We had for many months been giving away printed Bitcoin (BTC) tips to local restaurant servers and others with whom we wanted to gift BTC. These tips were made possible by an innovative site called BCTip.org. Sadly, the insanely high Bitcoin fees at the time made using BCTip impossible to justify in late 2017. Since BCTip had at one time been an advertiser with Free Talk Live, my radio show, I reached out to the operator and asked if he were considering adding any other cryptos to the site and he said he was not but pointed out the site was open source.
Creating six $10 Cryptotips with Bitcoin Cash.
So, I teamed up with Michael Hampton of Ringing Liberty and he actually programmed a whole new site from scratch to do the same thing that BCTip did for Bitcoin (BTC), except do it for the alternative cryptocurrencies like DASH and Bitcoin Cash. We launched quietly with a public beta early this year with DASH as the only initial crypto available to print as tips. This month, I’m happy to announce we’ve now added Bitcoin Cash (BCH) to the site and it’s now the default option when creating new tips.
These printed, business card-sized tips are super-easy to use. Just visit Cryptotip.org and create a batch of tips in the US Dollar value of your choice (or international currencies including GBP, EUR, RUB, JPY). Choose which crypto you want to use to fund the tips, DASH or Bitcoin Cash, put in your refund address and print up the tips. Cut them out and then put your tips in your wallet so you can easily give them out wherever you go.
When your recipient visits the URL on their tip, they’ll be given a brief introduction to cryptocurrency and instructed on installing a wallet so they can redeem their tip into their crypto wallet. If they never redeem it, YOU GET YOUR CRYPTO BACK! When you create the tips, you choose the expiration time. THe default is one month. Once the tips expire, you get any unclaimed tips back in your wallet. Cryptotip is a killer app for crypto and a low-risk way to spread cryptocurrency to new people.
They make great stocking stuffers or other gifts as well. Maybe you can think of new, fun ways to give away your Cryptotips!
Don’t forget, a Cryptotip should only be given as a bonus on top of an already good cash tip. You want the server to take you seriously and look at the Cryptotip so be sure to be a good representative of crypto and leave your Cryptotip in addition to your cash. Visit Cryptotip.org to create and print as many tips as you’d like!
I still can’t believe it. I just watched this video by CNN about a New Hampshire man who is able to live his entire life on cryptocurrency. I’ve come close, but he’s got even me beat. Truly an impressive feat. To learn his secret, watch this video:
Ever since, I’ve been a supporter of the unique approach that Hundred Nights has taken to helping the homeless. Rather than give them a place to stay every day of the year, Hundred Nights opens for the hundred coldest nights. At 7am, all those staying overnight have to get their stuff and leave for the day. They aren’t completely out in the cold, as Hundred Nights also operates a drop-in center open year-round, where the homeless can work on finding jobs, putting together a resume, or just get warm.
Hundred Nights’ BTC Wallet QR Code is 13rPdujR7Gg2v8pGHEF1UwCAP9gVjb6j8v
Recently, the Monadnock Decentralized Currency Network (MDCN) donated 1% of a Bitcoin Core (BTC) to the auction that Hundred Nights put on in December. The MDCN also offered to match the dollar amount of the winning bid on the coin as a BTC donation to Hundred Nights, up to a maximum of one whole BTC (which at the time was worth about $15,000). Turns out, despite having the chance to bid, a room full of mostly older folks only resulted in one bid… of $25. It was a lady buying it for her son, who had been telling her about cryptocurrency.
Given that the bid was so low, it was decided that a matching 1% of a BTC (worth around $150 at the time) would also be donated to Hundred Nights, rather than just $25. I dropped in to the office of Hundred Nights’ Executive Director Mindy Cambiar and helped walk her through signing up with Coinbase. While I’m not a big fan of Coinbase as a company, they do make it easy for people with bank accounts to acquire cryptocurrency as well as convert it to USD if they need or want, so I still recommend them to newbies. Indeed, within a short time, Hundred Nights was ready to accept cryptocurrency donations and the addresses are up now on their website. Whether you live in the area or not, if you’re a cryptocurrency user, please send them a donation to thank them for embracing the future of money!
As of now, Keene’s independent homeless charity is now accepting cryptocurrency including Bitcoin Core (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH)! Here are the addresses to which you can contribute: (more…)
All Cryptocurrency’s Total Global Value Over $420 Billion!
What a ride! The total market cap of Bitcoin and all other cryptocurrencies combined passed $420 billion for the first time yesterday! For some perspective, keep in mind that the global market cap passed $100 billion for the first time in early June. It hit $200 billion five months later in early November, then about three weeks later hit $300 billion. It only took ten more days for the total market cap to pass $400 billion.
With some exceptions, overall, the rest of the cryptocurrency prices trend upward when Bitcoin Core (BTC) is going up. Bitcoin Core has been on a meteoric rise, with nearly a 2000% increase in its US dollar value in the last twelve months! Yesterday, BTC eclipsed over $16,000 according to BitcoinAverage.com. Two days prior to that, it was at $12,000.
When will these steady gains come to an end? Hard to say. Many fear a huge crash is coming, but then again cryptocurrency is uncharted territory. Just because there was a big crash in bitcoin in 2013 doesn’t mean anything for what’s happening now. The market was so small then by comparison to today. If you look at the market cap chart above, you can see that “big” crash at the end of 2013 – but it barely registers as a little speed bump, peaking then at around $13 billion, when compared to the monstrous $420 billion of value in all cryptos today.
Corner News’ owner Roberta Mastrogiovanni poses with her store’s brand new Bitcoin Vending Machine!
Obviously, rule number one of investing is don’t invest what you can’t afford to lose. If you’ve got money in cryptocurrency and you’re spooked and want to cash out, go ahead, just don’t cash it all out. Also, consider diversifying into other cryptocurrency besides BTC. That said, rule number one of bitcoin has always been to hold on for the ride. Don’t let the downs get to you. They will come at some point; the only question is how deep the price drop will be and for how long. It’s important to keep perspective – we’re still in the early days of this. Even though bitcoin is coming up on its ninth year of existence, it’s still young compared to all other forms of money that have been with us for centuries. This is new territory and anything can happen.
We’re all subject to our emotions and beliefs. I got spooked and sold some of the Shire Free Church‘s bitcoin for cash prior to the much-feared “Segwit2x” fork of Bitcoin that was supposed to happen in November, but never materialized. That bitcoin would now be worth three times as much USD had we held it. (more…)
Is the Bitcoin geek war finally over, or just getting started?
After months of buildup, fighting, and controversy, the potential forkers of Bitcoin have blinked. Thankfully, they’ve called off their plans to cause a potentially damaging and very contentious schism to the Bitcoin network. Today, several of the “Segwit2X” developers appear to have written an email canceling the much ballyhooed “upgrade” that was attempting to become the “real” bitcoin.
I wrote a very detailed article explaining what was happening with this potential fork and you can read that here to get caught up. Here’s a brief recap of how we got to where we are:
Bitcoin has been going through some ugly growing pains. Its network is full of transactions. Fees have been skyrocketing as a result. Bitcoin transactions that a few years ago were no more than a few cents are now regularly $3-5 dollars. This has killed Bitcoin’s usefulness for small transactions. After arguing online for years about how to solve the issue technically, a group of dozens of companies and mining pool operators came together in May to propose a compromise called “Segwit2X”. This would implement “Segregated Witness” and then three months later increase the block size to 2 MB from 1 MB. Both of these changes were supposed to increase capacity.
Do you take the road less traveled?
Segwit was implemented by late August via “soft fork”, which means that nodes on the network who don’t update their software are still okay, because soft forks are backwards-compatible. New features added in the fork still support all the old features in the previous software version. The fork that was coming next week and is now supposedly canceled was to be a “hard fork”, which means software prior to the fork would no longer be compatible with the changes made, in this case increasing the block size to two megabytes. In theory this should have doubled the headroom in the network, decreasing fees. However, the plans are now off, after multiple original signers of the “New York Agreement” have backed out. (more…)