Day 1, 14-JAN-2015: This thing called Bitcoin!

Day 1, 14-JAN-2015: This thing called Bitcoin!


                                                                                                                                                                   Wednesday, January 14th 2015.   22:07 HRS

Today I discovered something new, something very interesting. I came back from work by 17:20 hrs, did a few personal chores then switched on the desktop PC and waited a couple of minutes for the hdd to stabilize. I went online and started searching stuff, something that I do almost everyday by now.

Today's searches however, centered mostly on "how to get paid online". For a while I have been trying to find online freelance jobs, particularly translation jobs as a means to boost my income. I am already signed up with a translation jobs platform and regularly I receive job offerings, all of which I am not able to engage simply because I do not have access to payment gateways.

You see, I am a native of a third world country, and online payment gateways are still non-existent / non-accessible, even for those with access to computers, internet and bank accounts. Only last year have I been able to successfully pay online with PayPal, through a VISA card from my local bank, however my PayPal account cannot receive funds, I can only spend. I have tried joining few other online gateway platforms but my efforts have been in vain as I still cannot receive payments at all, for reasons related to politics, governments, bank regulations, and mostly related to my "third world citizen" status.

Then, I came across this thing called Bitcoin. They say it's a decentralized peer-to-peer payment protocols for the internet related to something called blockchain technology and its been around a since 2009. I understand it to be some form of digital internet money that can be sent from one person to another, using a software that you install on your PC, called a wallet.

I became very psyched with this discovery, and immediately googled for "Bitcoin wallet". I found an app called Bitcoin Core and went on to download and install it. When it opened I noticed that the so called wallet looks similar to a cash book/accounrting app. This became even more interesting as it is exactly what I have always wished and dreamed to have access to. I don't see any transactions (as I have not sent or received anything yet), I also cant see the balance as the Bitcoin Core (i found out that its called a 'client' also) is syncing blocks from the network. So far it has synced 1% and estimates to complete syncing in a number days.

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I have began to think that my "how to get paid online" problems may be over now. The freelancing translator site is not supporting Bitcoin as a payment option, regardless I think that still my recent discovery may have other income potentials. Apparently there is also this other thing called "mining", I have understood that people have to keep the network online and secure by simply allocating their computer's computing power across the internet. For this, the individuals who participate get paid in Bitcoin for every successful block hashed.

I checked on google, one bitcoin is worth $ 198! I will certainly be learning more about this Bitcoin thing, it sounds like exactly the sort of thing I need right now.

Till tomorrow, 

Goodnight.    

This post is the first part of a series in which I recall my journey with Bitcoin since first knowing about it in 2015. Please leave a LIKE and Follow the blog as I take you through my personal experience with Crypto. Thank you.


Cryptonsula
Cryptonsula

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