Bitcoin: The peer to peer currency.

Some people may of heard of a currency called Bitcoin, some people think bit coin is associated with a large amount of criminal, and some people know as the gold of the internet, one way or the other the trade in Bitcoin is only getting larger in popularity.

I am not going to go into the complicated ins and outs of Bitcoin, the simple idea of it is, there are miner with powerful computer putting in 'ticket' to win a 'block', as time goes on there is less and less rewards and blocks are harder to win, the cap is at 21m Bitcoins. Unlike any other currency, it is divided into eight decimal places.

This will show you the basics to getting Bitcoins, and getting involved in a good community along the way, first you will need to get a Bitcoin wallet, which is basically a peer-to-peer software, the two I recommend to start which is official bitcoin client and Multibit, a multiple wallet management application:

Bitcoin Qt

Mutlibit

Bitcoin Qt is takes a long time to update, as it downloads the whole data need and it is not simple when it comes to moving and restoring back up of wallets, but it has it own built in encryption. Information about that can be found on the bitcoin wiki pages.

Multi bit is a ready to roll out system, it is quick at updating, but it does not have a built in encryption, and requires encryption software, but wallet files are easy to define and move.

Wallets can be hacked and need to be encrypted, if the wallet file is not encrypted and the file is on a hackable computer, it can be hacked, and Bitcoins can be stolen if a wallet is stolen. also note, if a wallet is lost, the Bitcoin in that wallet will be lost forever also.

Now that you have your wallet, you would like to add some fund to them accounts, there are many website where you can buy and sell Bitcoins for your local currency, but the websites I will show you below give away free Bitcoins, mostly donated kindly and other threw advertisements, and some a bit of both.

Skude - This website is a good site to bookmark, it contains links to six website with timer to keep track of when you can go to the website again, three of the links can be done every hour and three can be done every day. It is best to sign up for all the websites visiting if you can to have control over over your payment options. Also look out for the free redeem code for PeerBet that appear every now and again on Daily Bitcoin.

CanIHasBitcoins - Get Bitcoins every half hour.

FaucetBTC - Get Bitcoins every half hour.

CoinVisitorChat - Get Bitcoins randomly while talking to people, this also a great place to get information from other Bitcoins user, there are quite few miner that also visit this chat room, so if you wish to find out more about mining this is the place to hang out. This chat room is run on donations from the community, if you own some Bitcoins, and want to share the love;

Bitcoin Donation Address:

1CANDWyajFmGfd5X56LKgWyFSUQVWjQoaZ

There is a lot more in the Bitcoin community as Bitcoin spreads faster as a solid digital commodity, there are more ways to earn Bitcoins, and things to spend it on, or you can simply sell it for money on one of the Bitcoin trading website.