HEALTH A-Z & MARIJUANA NEWS

Why Bitcoin has become the preferred currency for buying and selling marijuana, how to get Bitcoin and use it, all in one lesson

WHY YOU WANT TO BUY MARIJUANA WITH BITCOIN    

http://animalnewyork.com/wp-content/uploads/bitcoin-weed-washington.jpg

 

Your Bitcoin operation takes only a few minutes to setup, but best your read this article in it's entirety.first.

 

Questions answered:

 

  • Why Bitcoin is exploding in value?

  • Why ii is the best way to purchase many products and especially marijuana?

  • How to get Bitcoin setup - in 10 minutes


 

Why Bitcoin?

 

Using Bitcoin to buy marijuana (or anything else) is now a convenient, safe and  easy and accessible option.  People are turning to cryptocurrencies, in mass and especially Bitcoin for a variety of very good reasons; the same reasons why humans invented currency in the first place.  

 

Currency was originally not invented for the purposes of fraud, manipulation and control of the populace.  As time went on money gradually evolved from barter to materials that represented goods, like gold, salt, to notes backed with gold, to fiat currencies created out of thin air. Bitcoin is created out of thin air too, but there are a great number of reasons why it is becoming widely preferred.

 

The story of Bitcoin is amazing.  A genius, we think from Japan, invented Bitcoin combining the most advanced techniques from think tanks in computer science, cryptography and web systems.  Yep, its real rocket science that makes the Federal Reserve bunch look like kindergarten tots.

 

The Bitcoin system uses cleaver programs on millions of computers connected on the web to expedite all Bitcoin activities.  Without getting into the awesome and very technical details, the basic facts about Bitcoin are:

 

  • Bitcoin's value is created by demand by users

  • Bitcoin is increasingly stable, directly related to total $billions in transactions

  • Bitcoin can be used in privacy or a complete audit trail can be created

  • No one has been able to counterfeit it

  • No one is in charge, no one can create Bitcoin

  • Bitcoin is created and given to anyone that joins the system (called mining) and lends their computer online to compute for Bitcoin  

  • Bitcoin is limited to 24 million coins, with more than half already created.

  • No one has broken into a Bitcoin wallet, cracked the password. (passwords were stolen however)


 

Fees for Bitcoin transactions - $ zero

 

While the US banking system makes $250 billion per year in various fees, the cost of doing transactions is near zero, as in less than one cent.  The time it takes for a transfer is much much faster.  Your transactions are anonymous.  Marijuana businesses dealing in Bitcoin can operate their business in a large part by paying for their expenses in Bitcoin.  

 

"Bitcoin in a way is old school, just press a button and the money goes into the vendors hand, its like trading a bag of carrots for a dozen eggs, no middle man to take a cut and delay the process."


 

Put This in Your Pipe and Smoke it

 

Example of the game change in Web Commerce: With Bitcoin, people can charge to view videos at $0.01 per hour or 0.00001 cents per second.  This means that in a total evening of viewing would cost a couple of cents.  You can't do this with credit cards because the minimum charge is $2.00 or so, and the process is more complicated.  This means that independent content creator with 10,000 viewers per hour on their channel will make $100 per hour.  

 

And this also means that creators don't have to bother their audience with commercials and horribly distracting advertising which is a blight of mankind.  It also means that people that comment can be paid in Bitcoin for contributing.  

 

While Bitcoin is backed with nothing, over the past 8 years of its existence, the international web community has increasingly trusted in it, and it's value, while volatile, is increasing from a few dollars in 2010 to nearly $10,000 in 2017.  Big banks are already taking Bitcoin.  It's being used in place of national currency of third world countries, because it is more stable.  There are even Bitcoin ATM machines in places like Peru.


You only need to download a tiny Bitcoin app to your PC, of mobile device to create a Bitcoin account , or we should say wallet as it's commonly referred to.  A Bitcoin wallet works somewhat an email account; there is a digital address which is secured with a password (key), and it holds all your Bitcoin, records of transaction, but nothing about you personally if you don't want it to.   


 

Create a Wallet - A Bitcoin Account


If you have a Bitcoin wallet, you can spend or receive Bitcoin.  You can create a Bitcoin wallet with your mobile or computer, just download an app and in a few minutes, you'll  be able to make online payments using Bitcoin anywhere on the net or on the street, that accepts Bitcoin. Just download an app and click add wallet: Desktop - Hardware - Mobile.

 

"A Bitcoin wallet is as simple as a single pairing of a Bitcoin address (letters and numbers) with its corresponding Bitcoin private key."

 

"1H7wYXUrSfUKxAYmA5MFUFyUsXGY4CEDLC is an example of a Bitcoin account number posted by a youtube content creator::.  that's all you need to send him Bitcoin.  And that's all he might need to make a living."

 

People with Bitcoin can send Bitcoin with "1H7wYXUrSfUKxAYmA5MFUFyUsXGY4CEDLC" only.  The owner has a key that keeps his account secure,.  Bitcoin wallets have never been hacked into ever, but vulnerable computers and devices containing the key information have been stolen.  Therefore, you want to have proper security on your computer.  With that said, your regular online bank account can be hacked into as well.

 

"To safeguard a wallet, you must print or otherwise record the Bitcoin address and private key. It is important to make a backup copy of the private key and store it in a safe location."


 

Create a Bitcoin Wallet in 3 minutes  - (below - your public account key)


 

Get Bitcoin
 

Start small and buy a few hundred dollars worth.  You can get Bitcoin by accepting it as a payment for goods and service or buy it online. Just provide your wallet ID to the person you want to receive Bitcoin from.  

 

"Add funds to your wallet by instructing others to send Bitcoins to your Bitcoin address. Check your balance by going to blockchain.info or blockexplorer.com and entering your Bitcoin address."

 

See further reading about buying Bitcoin.

 

Spend Bitcoin
 

Go on the net and source out a supplier of marijuana which accepts Bitcoin and buy a few grams as a low risk test.  There is a growing number of services and merchants accepting Bitcoin all over the world. You can use Bitcoin to pay them and rate your experience to help honest businesses to gain more visibility.

 

Risks with Bitcoin

 

Don't lose your Bitcoin wallet - If you lose your key to your wallet, you are shit out of luck.  It is the same thing as losing your purse, gold or what have you.  The upside is, you can hide your key anywhere, which is easier than keeping track of actual supply of gold, in this way Bitcoin might be safer than a stack of cash of gold bar.  

 

In fact, certificates for gold can be faked, and the gold that is supposedly in the vault - does not necessarly exist or can actually be gold coated tungsten, going undetected for decades.  Also the world's currencies are not backed with anything except a promise to pay by the debtors, which is based on confidence.  Basically, countries that have strong currencies have a strong hold of their debtors and can force trade to take place in national currencies.  Bitcoin on the other hand has greater integrity, its creation is not subject to the manipulation of bankers and power groups because they have nothing to do with its creation and supply.

 

Volatile Price - The price of Bitcoin could go down.  It's gone down considerably for a short period, however, its rebounded and appreciated to much greater heights.  Right now, demand for Bitcoin is accelerating, it continues to appreciate rapidly (end of 2017).  This is new territory, and many people have made a fortune from Bitcoin.  Still what goes up, probably comes down.  Then again, other currencies, like the US dollar have consistently lost most of their value over the years, in this case 97% over the past 100 years. For example, back in 1917, standard US wages were 50 cents to a dollar per day.  

 

Hackers - In this regard, Bitcoin is probably the most secure choice due to its superior encryption.  All bank transactions are threatened by hackers online, they can guess your password or get into your computer and steal your account information.  So if you keep a file on your computer with the Key, someone could hack in and steal it, but no one has ever cracked Bitcoin wallet key.




 

NOTES ABOUT Bitcoin

 

You can use Bitcoin without knowing any of the following, but most people like to know these ins and outs.

 

  • Icon Bitcoin payments are irreversible after complete, but if you know who the recipient is, you can ask the for the money back in a separate transaction.

 

  • Confirmation takes between a few seconds and 90 minutes, with 10 minutes being the average . If the transaction pays too low a fee or is otherwise atypical, getting the first confirmation can take much longer.

 

  • Bitcoin transactions are are often accounted for as income by suppliers, and pay tax accordingly.

 

  • Your ID can be completely anonymous, but the regular form of transactions could be tracked back to you, but this is a very difficult process

 

  • Neither the Bitcoin spender nor vendor is obliged to keep transaction records to complete, however, they might be obligated by their country to report revenue and spending, for taxation and governmental whatnot.

 

  • Some businesses control of the Bitcoin payment requests they are displaying to their customers.

 

  • Bitcoin can detect typos and usually won't let allow transactions with an invalid address by mistake.

 

  • All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address.

 

  • The identity of the user behind an Bitcoin wallet address remains unknown unless information is revealed during a purchase or in other circumstances.

 



FURTHER READING

 

Bitcoin vs. Political Power: The Cryptocurrency Revolution - Stefan Molyneux at TNW Conference

 

Historically, politicians have always fought for the power to create money out of thin air, so they can increase their spending without having to directly increase taxes. The staggering growth of political power throughout the twentieth century - the century of war - was largely made possible by replacing money limited by gold with paper currencies, which can be printed at will by government-controlled banks.

Cryptocurrencies are the first self-limiting monetary systems in the history of mankind, and could be our greatest chance to check the growth of political power since the Magna Carta. Join Stefan Molyneux, the host of Freedomain Radio - the most popular philosophy show in the world - as he reveals the hidden political and military power of government currencies, and shows how cryptocurrencies could be the greatest revolution in human history, and the foundation of a truly free and prosperous planet.


 

Bitcoin For Beginners - Learn How To Mine Bitcoin ! - Part 1

 

What is Bitcoin mining? What is Bitcoin? and How do you mine it? Well, this video will go over Bitcoin mining and show you how to set up Bitcoin Mining Software on your computer.  Bitcoin is a digital currency, which is supported by a P2P network of computers across the internet that act as servers to process the financial transactions of this currency. Some believe Bitcoin is a Scam, or Ponzi scheme, but once one understands the concept of Bitcoin, it is clear that it is not. While the uses for Bitcoin are virtually infinite (paying for goods, services, or money laundering, gambling and drug smuggling) it's structure remains concrete and open source.


 

GENERATE A Bitcoin ADDRESS

 


 

Spend your Bitcoins by going to blockchain.info and sweep the full balance of your private key into your account at their website. You can also spend your funds by downloading one of the popular Bitcoin p2p clients and importing your private key to the p2p client wallet.

 

Keep in mind when you import your single key to a Bitcoin p2p client and spend funds your key will be bundled with other private keys in the p2p client wallet. When you perform a transaction, your change will be sent to another Bitcoin address within the p2p client wallet. You must then backup the p2p client wallet and keep it safe as your remaining Bitcoins will be stored there. Satoshi advised that one should never delete a wallet.



 

What is a Bitcoin Wallet | 99 Bitcoins

 

Let’s talk about Bitcoins Wallets. To make it simple, we’ll compare it to email. If you want to receive Bitcoins you’ll need a unique personal address, just like an email. Let’s call this address your Bitcoin address, and just like your email address anyone can see it and anyone can send Bitcoins to it.
 

Now you decide that you want to access your Bitcoin address to see how many Bitcoins you own. Well, if this were your email you’d first go to your email program – like Gmail or Outlook. The same program exists for Bitcoin and it’s called a “Bitcoin Client”.
 

So you’ve opened up your Bitcoin Client, and now you need to log in. For email you’d enter your email address and password. When accessing your Bitcoin program you will need to enter your Bitcoin Address and “private key”.
 

It’s important to know that every Bitcoin address has only 1 matching private key. But each private key can be used for multiple addresses. Just think about it this way, each email address has only 1 password that opens it. But you can use the same password for multiple email addresses.
 

It’s crucial that you keep the combination of your Bitcoin address and private key safe. Exactly like you’d guard your combination of email address and password. Some people write it down on a piece of paper and hide it away, others store it in an encrypted file on their computer, there are also dedicated websites that hold your private and public keys for you. Any place that these 2 pieces of information are stored at is called a Bitcoin Wallet.

 

Even if you decide to memorize your Bitcoin address and private key by heart, it will mean that your brain is your Bitcoin wallet.
 

Today, most programs act as a Bitcoin client and a Bitcoin wallet together. For example, Blockchain.info will store you public and private keys and also allow you to send out Bitcoins. That’s it! You now know what a Bitcoin wallet is.

 

Bitcoin videos on youtube; start here.

 

420EvaluationsOnline Notes:  To purchase marijuana in California, a medical doctor's recommendation is required.  We provide 100% online - Cannabis ID Cards, Physician recommendations for marijuana, cultivation permits and consultations.  The process takes only a few minutes and patients don't pay unless they are approved.  Your documents are used at cannabis clinics, dispensaries, cannabis clubs, delivery services in California and some areas of Nevada.  

Labels: bitcoin

Related Posts

Interesting Posts