Bitcoin has a lot of potential for growth in the world of online freelancers, and the largest place to pay freelancers for odd jobs with Bitcoin right now is Fiverr. Fiverr is one of the largest hubs for freelancers on the entire Internet, and it’s now the perfect spot to go when you want to pay someone to complete a small task for you for bitcoins. It’s pretty crazy what people will do for five dollars on this website, but the site also allows freelancers to charge larger amounts of money for more serious work.
The Bitcoin Embassy was founded on May 12, 2014 in Poland. Our user Wojciech Pietrzak interviews Maciej Ziółkowski, one of the co-founders of the Bitcoin Embassy.
Wojciech Pietrzak: Tell us about the foundation of the Bitcoin Embassy. How did you come up with this idea?
Maciej Ziółkowski: We came up with this idea when I noticed that Poland, a large country of thirty eight million people, does not have a setting where one could say “Good morning!” and ask about the Bitcoin.
Although Bitcoin has gone through quite a bit of growth since the days of MtGox and Silk Road, the fact of the matter is that there are still some issues facing this digital currency when it comes to mainstream adoption. One of the main points of failure right now seems to be security of Bitcoin wallets. Whether you’re talking about a centralized service that holds bitcoins for other people or a user holding their bitcoins on their own computer, there is simply too much that can go wrong when it comes to the security of one’s coins.
Since the creation of cryptocurrencies, there has been certain controversy around Bitcoin investment. Throughout 2014 a great deal of venture-capital investments have been made into businesses associated with Bitcoins. Simultaneously, with the price fluctuation of this digital currency Bitcoin investors have been imposed with little room in the event of fraud and theft, especially after the fall of the Bitcoin exchange Mt. Gox.
Nevertheless, according to numerous specialists from various Bitcoin investment funds, this virtual currency is the highest-risk, highest return investment out there.
Gradually Bitcoins and various altcoins are becoming more popular winning favourable attitude of millions around the world. However, this is only the beginning of the integration for cryptocurrencies in our daily life. The crypto community should take a number of steps in popularising this innovative peer-to-peer payment system. This will stimulate Bitcoin’s growth and solidify its position in the global financial sector.
In order to bring virtual currencies into masses we have to expend the crypto community and educate people about numerous benefits of using Bitcoins/altcoins whether as a payment method, a way of transferring money or investing.
The CEO of eBay made headlines in recent weeks by claiming that PayPal is eventually going to have to integrate digital currencies, such as Bitcoin, into their payment platform. While this should be huge news for anyone interested in mainstream adoption of Bitcoin, the reality is that many purists in the Bitcoin community are actually upset by this move. After all, one of the main tenants of Bitcoin is that we no longer need various third party payment providers, such as PayPal.
Overstock was able to make headlines a few months ago as the first major retailer to accept Bitcoin as a payment method, and now DISH is getting in on the action as well. DISH is nearly seventy-five times as large as Overstock, so this is a much bigger deal than acceptance at an online retailer. The DISH Network also has more than 14 million subscribers, so this could be an opportunity to spread the Bitcoin gospel to their customers.
While most of the general public was interested in the new operating system unveiled by Apple at the annual Worldwide Developers Conference, the Bitcoin community was excited about a different kind of release that was happening at the same time. Apple decided to make a few small changes to the kinds of apps that they will allow on the app store, and one of those changes was an embrace of virtual currencies, such as Bitcoin.
Rapid growth of GHash.IO mining pool, seen over the past few months, has been driven by our determination to offer innovative solutions within the Bitcoin ecosystem combined with significant investment in resource. Our investment, participation and highly motivated staff confirm it is our intention to help protect and grow the broad acceptance of Bitcoin and categorically in no way harm or damage it. We never have and never will participate in any 51% attack or double spend against Bitcoin.
X11 is a relatively new mining algorithm that has gained some notoriety in a time when ASICs are just now being released for scrypt-based cryptocurrencies. Scrypt was supposed to be a mining algorithm that made mining a more decentralized process, but it seems that it has failed in preventing the creation of hardware that can mine litecoins, dogecoins, and other scrypt coins in a rather quick manner. Understanding the differences between X11 and the other major mining algorithms can be used to help figure out what this new mining algorithm is all about.