Bitcoin Integration and Consultancy

To quote from the Google CEO;

"Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value"
-Eric Schmidt, CEO of Google

Bitcoin can be thought of as electronic cash, that can be instantly sent to anyone in the world. The applications and possibilities that Bitcoin opens up are wide ranging and it really opens up a new era in world-wide commerce. Micro-transactions and international currency transfer are but a few, of the many possible benefits.

While we are still in the infancy of this new non-government backed, cryptographically secured e-currency, there are a lot of questions to answer and a lot of advice to give. As someone who has been using and researching Bitcoin since 2011, and with a Computer Science background, I can provide answers to some of the more complicated questions involving crypto-currencies. With a seemingly complex system such as Bitcoin, no question is a silly one.

Alt-currencies

Alternative currencies, or Alt-currencies are Bitcoin spin-offs that base themselves on the original Bitcoin code. Some have new features, some have new algorithms, trying to build on the existing benefits of Bitcoin. Others are for fun or are just plain copy-pastes in an attempt to get any kind of market cap.

  • Litecoin - Basically Bitcoin but requires less work per block
  • Peercoin - Basically Bitcoin but also requires no work per block, instead minting is by done by holding coins.
  • Reddcoin - has a new velocity algorithm that is a measure of how much the coins have changed hands
  • Dogecoin - An internet meme coin, took off with large market cap.
  • Darkcoin - Bitcoin but with transaction obfuscation.

Bitpay

A good way to get started as a merchant is using the Bitpay service. Bitpay allows you to get paid with bitcoins and will instantly convert a fraction or all of the bitcoin payment to your local currency. This eliminates the need for worrying about the current price of bitcoin.

Brave New Coin

Brave New Coin is a Cryptocurrency webservice that allows you to see a weighted average of the main Crypto-currencies price and volume over all the main online exchanges. It provides the information in a user friendly manor, they also have an excellent Mobile App out for Android devices.