BITLANDERS: “ BitCoin Meets SocialMedia.” | Earn Bitcoins, Bitlanders, Free Bitcoins

You might not know about Bitcoin yet and the digital miracle currency that it is, Bitcoin is a peer-to-peer digital currency that allows users to purchase goods and services and cash out in liquid cash in the currency of their using by using bitcoin merchants like UrduBit (Urdubit)in Pakistan.

 

Bitlanders is the social media that pays!

 

BitCoin Mining is the way new bitcoins are produced but it is not the only way to get Bitcoins, a new and fun way of getting bitcoins is to join Bitlanders. This social media site that pays you in bitcoins by how and well efficiently you use the platform itself. Bitlanders lets you share new and create stuff similar to google plus and facebook. You can write blogs, post videos share youtube videos and also do daily tasks such as look at others videos and blogs to earn.

BitLanders pays you by calculating your social reach or following into a ‘BuzzScore’. The BuzzScore is a competitive scale of ranking starting from zero and ending on 100, which shows your skill to involve users in your content, posts , blogs, videos, pics or even by sharing outside content. It takes into consideration the amount of people that subscribe to your content, as well as ‘buzz’ your content (like Facebook like), as well as share their views on it or comment with their thoughts and ideas.

Your BuzzScore is calculated daily and by the end of it you are given a certain amount of BitCoin which reflects your BuzzScore and current BitCoin Price.

You can blog, post, share a picture or a video and upload a self made film and your earning starts!

 

Earning BitCoins with Bitlanders

With BitLanders, users get bitcoins just for doing stuff that they already do on other social networks like Facebook and Twitter. It’s a pretty simple process. Users who contribute and participate in the social platform are awarded regarding their posting activity performance.

Just by posting images, videos or writing posts, users will be able to earn some tips directly from the social media platform. It takes time for users to earn a good amount, but it can increase pretty fast if their content becomes very popular.

Spend all day Facebooking or tweeting? Why not join Bitlanders and get paid for the time you spent rather than spending it for free.

How to Join?

Its easy and simple. You can use your Facebook or Google Plus account to log in or Just visit Bitlanders and click on log in. And yes. It is done that easy.

User Oriented:

You can use BitLanders like facebook, wordpress, blogging, twitter and YouTube, making BitLanders a very versatile site and easy to use and whats more the content on BitLanders is not in chaos like in other social medias and the Bitlander team monitors it, ultimately allowing you have a unique experience with original and creative content,

Features:

BitLanders has its own unique ways, instead of having a profile pic, you get an avatar that you can edit according to your personality or your wishes on how you want yourself to appear digitally which in term symbolizes the digital currency, BitCoin. And makes the site more content oriented than celebrity worship like other social media sites AND IT PAYS!!.
The Idea behind bitlanders is not a get rich quick scheme but to make money while you do what you do daily on sites such as twitter, google plus or facebook.

 

Creativity meets People and make its digital community

In BitLanders, a community of great talent, creativity and ideas meet and they post a lot of great work from stop motion animation to Photography and sharing your personal thoughts and ideas. There is so much to find and and in great diversity. Its east to find film makers, photographers, graphic designers and and people from all walks of the world leading their arenas with their ideas and thoughts.

WHY JOIN BITLANDERS?

  1. Its for you to use and earn:

It allows all type of users to earn money with their work, So much talent and genius goes unnoticed in this world. Well not anymore. Join BitLanders and earn if you think you have the talent and the guts to show it.

Even if you are simply a viewer like the most and so many at Facebook, twitter, you still get paid for sharing content, posting a status, pic, a video and you will get paid by the amount of buzz you get and getting people to comment and even by inviting your friends to join BitLanders.

  1. Easy to Earn and Enjoy while earning.

You spend so much time on Facebook doing dozens of things in a day and using twitter its only fair to get your piece of the pie and why not? You contribute your precious time and moments of your life. So surf, get entertained, pass your time while earning at BitLanders.

People in Pakistan have now Facebook for a hobby and no earning to speak for it. So Pakistanis should shift to BitLanders to earn in Bitcoins and convert it into real cash by using services like UrduBit.

  1. Being a Leader and being followed.

If you believe you have the wisdom or the words and can create such content that can inspire people or get you followers , you can get quite a BuzzScore in BitLanders and get paid.

  1. Join BitCoin Bandwagon before its too late:

BitCoin being digital currency is the new cool and people are transforming it as a means of real money. There are now BitCoin Banks, BitCoin ATMS, BitCoin Merchants, and even some retailers are accepting it as a method of payment due to its awesome feature and no inflation rate. So its only logical to join it before its too late.

 

We spend so much time on social media sites and out so much energy into making our profiles attractive and work so hard at posting stuff to get the like or spread information while these companies makes profit from it and share your information for their advertising means. BitLanders is the only social platform that gives you your deserved piece of the profits and rewards you on your time and the content you share with the world. If we can do it for free we can certainly do it more better if we get paid for it, and enjoy it at the same time. Its about time we change and adapt and yes, GET PAID for it!

BitCoin! A new way to pay and get paid. | bitcoins, bitcoin, paypal, btc, xbt, nyxbt

What is Bitcoin?When people say “Bitcoin” they are referring to one of two things.

1.       A digital/crypto currency.
2.       A payment system used for sending and receiving money online.

Bitcoin as a Currency Bitcoin is a digital, decentralized, peer to peer, pseudonymous currency based on cryptography. If that sentence made no sense to you, don’t worry  – I’ll break it down for you.
·         Digital – Bitcoins exist only as code, they do not exist as anything physical. People can (and have) made physical representations of Bitcoin, but ultimately they are based in the digital world.
·         Decentralized – There is no central bank or institution that issues or controls Bitcoin. It is a group of individuals all over the world who run the program that keeps the monetary system running.
·         Peer to Peer – You control your own Bitcoin, and when you send Bitcoin to someone else, it goes directly to them. There are no banks or middlemen.
·         Pseudonymous – While all Bitcoin transactions are publicly view-able in an open ledger called the Blockchain (we’ll get to that later), the sender and receiver are only known as a string of numbers and letters. If you’re careful about your identity, using Bitcoins can be done anonymously.
·         Based on Cryptography – The strength of Bitcoin as a digital currency lies in the code, which uses strong cryptography to ensure that the coins cannot be accessed without proper permission. Bitcoin is the first digital currency that has these characteristics, and as a result it is the first digital currency to become widely adopted on the internet. As of June 2013, it is handling nearly 60,000 transactions each day, and this number is accelerating quickly.

 

Why Use Bitcoin in Pakistan:

Bitcoin is Big news for Internationale buyers and sellers. It is no secret to Bitcoin users that digital currency makes PayPal’s model of online transaction look somewhat archaic by comparison. While the method was the darling of the online community in years gone by, the rapid advance of Bitcoin in particular has caused PayPal to come increasingly under the spotlight recently.

10. Lower Fees

This is usually the first advantage of cryptocurrencies that you hear from Bitcoin enthusiasts and experts. And this is certainly true as PayPal has been notorious for imposing hefty transaction fees on users of about 3%.

9. Community Support

You can also think of Bitcoin like an app on the Bitcoin network. This means that the protocol, add-ons, and supporting infrastructure can always be further developed and improved to suit the needs of consumers and all users.

PayPal was not constructed with this in mind and has a considerably narrower potential field of operation. In other words, while PayPal can certainly afford to pay its own team of talented programmers, it still will not be able to innovate at the same rate as a decentralized network of developers spread across the entire world.

Truly Global

PayPal is not available in every country with notable exceptions being Iran, Afghanistan, North Korea, and Haiti.

Bitcoin on the other hand is the first true transnational currency because it is border-agnostic like the Internet. In other words, it can be controlled to an extent on a very local level but cannot be shut down globally unless electricity is shut off everywhere in the world.

Unlike PayPal, Bitcoin can offer citizens living under oppressive regime a way out. People using this border-less currency can circumvent state supported financial monopolies and establish their own local economies.

Less Friction



With Bitcoin, it doesn’t matter whether you send 1 cent or 1 billion’s worth, the transactions fee is the same (approx. US$0.02) or btc 0.0001. And since it’s actually your money, it is only logical that you should decide on the amount you want to send.

Decentralized

The decentralized nature of Bitcoin means that there is no single clearing house monitoring and controlling the network. This ‘trust-less’ payment system greatly increases the security of a network as there is no single point of failure such as from a DNS attack, for example.

Versatile

To use PayPal, you must be online and have a credit card. In contrast, Bitcoin can be sent offline via email or even SMS on a Nokia dumb-phone.

Privacy

While Bitcoin is not truly anonymous, it can still provide a certain level of anonymity or pseudo-anonymity for users if they know how to cover their tracks and manage their digital wallets – a process that is expected to become more user-friendly with time. Additionally when using bitcoin you can pay directly to the receiver without providing any data hence safe guarding you towards future hacks on the site that you are paying.

In contrast, this is impossible for PayPal users as they are required go through the burdensome process of filling out long forms to prove where the money came from and what it will be used for. This is particularly true for international users.

Freedom

This is the overall most important point that cannot be stressed enough. Bitcoin lowers the barriers for all to participate in global commerce.

While this may seem trivial at first, consider that almost 2.5 billion people on this planet do not have bank accounts and thus, cannot use PayPal. Bitcoin has the potential to finally bring almost half of the world that is unbanked into the global economy, which can then be truly called Global.

Indeed, with Bitcoin, a local farmer in Tanzania can receive bitcoins on his mobile phone with the nearest bank or western union location being a hundred miles away. He is also able to send payments and be an active participant in the global economy. The same holds true for Pakistan. The masses have seen the success in high cost money transmitters such as easypaisa, mobicash, ubl omni or upaisa etc. Bitcoin can be the source of a cheaper solution to all if accepted by masses.

Thus, Bitcoin enables true globalization that is inherently inclusive and egalitarian, although how this technology is implemented is ultimately up to us – the users.

Adsense, Ads, Marketing and advertising (Bitcoins, btc) | bitcoins, btc, ads, adsense, google adsense, urdu adsense, marketing, advertisement, bloggers, pakistani bloggers, bloggers pakistan

This article is to cover the use of marketing services similar to adsense. While I will cover these with information with retrospect to Pakistan they should hold true for most countries with a few exceptions. Currently there is high demand for adsense and its ads placements in Pakistan. From my recent interactions with bloggers and eCommerce websites its evident that a vast majority of Pakistanis are producing great content that is being ranked really high and driving in authentic traffic. Similarly I look at the other end from marketing stand point of view this is great not just for international searchers but also for local searchers. In regard to this I have also seen many new bloggers trying to get into this field and make money. While there is real competition I would like to highlight a method that might go hand in hand and help both the marketing company and the bloggers by using services similar to adsense.

Marketers & Advertisers :

Currently people in Pakistan resort to ubl wiz cards or prepaid cards because its just very difficult to understand how adsense works. Most people dont even know the keywords they want to search hence they tend to stay away from adsense and turn to facebook marketing. While facebook is good to get your products viral I personally believe that adsense is better marketing platform and should eventually generate more results then facebook advertising.  A similar platform by the name of a-ads. There are many other similar platforms available but I will pick this one due to its anonymous nature.

For a eCommerce or retailer or any new startup its quite difficult to have a high budget to market on high ranking websites so services such as adsense, a-ads or facebook present a low cost high turnover return reward possibility. Now the question that might comes to ones mind is why a-ads and not adsense? To answer that let me get into a bit of detail. Adsense requires high traffic websites inorder for them to be approved and get paid. While this makes sense for most people going through the entire setup for a businessman who is just looking to run a new or an old setup becomes quite confusing and hence he has to resort to either hiring someone and paying them to do this work for him. With this setup comes risks and rewards. People tend up putting their credit card numbers and details onto google server for their employees to use for marketing their products. This has its risks. Which in my opinion are very high. This reason and the fact that bitcoin is anonymous like a-ads is why I prefer putting an ad campaign which is much simpler doesnt require information and you can simply deposit funds in bitcoins so that your personal data is secured and not sitting on remote servers.

A-ads has been around since 2013 so its not a new website. I believe their fees of 20% is a bit high but for a small setup that is reasonable. If you accept bitcoins I think this is the best way to market your products since this will mostly please the btc community generally. If we look at
https://a-ads.com/catalog Link  we will see:

Selected category gives ~773551 impressions per day and includes 4503 ad units.
CPM: 0.00154157 Ƀ ($0.40), CPC: 0.00002542 Ƀ ($0.01)

This shows that displaying your ads on a-ads is relatively cheap against if you were to use facebook ads or adsense. This is the added advantage. To add to this its also known fact that most people dont generate sales in btc unless there is a discount involved. So even if you do accept btc doesnt mean you will generate too many sales. But you will be able to market your product to the world and very low costs with the same btc you are earning. Is this all worth it. Well it doesnt hurt trying.

Bloggers:

The question is why use this if you have adsense? Well for once it doesnt matter which type of blog you have as long as you generate some kind of traffic you will get paid. Lets be honest here I did a test and have integrated a-ads here and while I am not going to be earning much I am going to be making something. The setup is such that I hardly get around 20-40 people daily in total from http://bitcoin.com.pk and http://bitcoinpk.com and I am still able to generate small amounts of income. While this might not be big its better then nothing and ads out to atleast cover the cost of the domain and blogs after a year. This is based on my current earnings for around 2.5 days that I see this happening. Since I pay for my domains and hosting in bitcoins through namescheap it makes the cycle or well worth it. The one thing to note here is for people who would want to replace adsense with a-ads while it doesnt really make sense if you are earning higher amounts there is one advantage you will have over adsense, that is payment through bitcoin which can be cashed out at better rates from urdubit as opposed to using direct bank transfer and services such as western union.

Conclusion:
To wind up this I believe that a-ads is a good alternative to advertise and market your products anonymously and without much risks. Additionally marketers and advertisers have a cheaper solution to market their products on low budget websites and still be able to generate sales. Most ads dont get direct sales but do generate an effect in which the customer is reminded of your services and return once they need the product. I would like to suggest for everyone to give it a go.  Would like to invite Bloggersadvertisers and marketing experts to review a-ads and other such services to help freelancers grow.

With New Tax Proposition Bitcoin becomes more important in Pakistan. | Mr 0.6%, Isac Daar, Bank, tax on bank transactions, banking, bitcoin, litecoin, dogecoin, bitcoin in pakistan, pakistan, btc in pakistan, pakistan btc, bill payments, pay bills online,

With the problems and corruption in Pakistan going uncontrolled. The govt is trying to tax each and every bank transaction. There are alot of problems with current tax laws in Pakistan of which I am not going to get into much details. But bear in mind that each and every Pakistani is taxed through Cellphone home phones, electric bills, tv bills, gas bills etc. Most of this sector which is below the poverty line doesn’t even know that they are the ones that are suppose to receive a refunds. This in return causes the richer to get richer and divert taxes while the poor get poorer. With recommendations of the new tax law if implemented every banking transaction in Pakistan will be taxed hence causing more burden to existing taxpayers and causing double taxation. While this could be avoided if our systems worked properly then this wouldn’t be a problem but the returns are hardly paid and have to go through alot of problems before you actually receive the payments. This may even propel the use of Bitcoin In Pakistan.

As mentioned before btc or bitcoin is a peer to peer system that works like utorrent and hence is equivalent to digital cash. While the leading world countries are now starting to accept this crypto currency and realize its existence (now evident by the acceptance of big players such as Paypal, Microsoft, Expedia, Namescheap, Goldman Sachs and entities such as NYSE) Pakistan still remains far behind. But with the law as proposed by Mr Isaq Daar it may cause people to look for alternate ways to transact with one another in order to avoid this hefty tax. Bitcoin/btc/xbt maybe the answer here and propel people to actually start storing money in bitcoin. It is now clear that Pakistan is a growing economy in the bitcoin era as Urdubit trade volumes have reached 3 btc avg daily. Paybill which is still very new and still building has seen an increase in mobile topups. Paybill has been designed for payment of bills in Pakistan.

I do hope that this tax is not implemented, but at the same time this does show us how important a true p2p currency is. The fact that all the funds of any person in any country can be blocked or controlled by any sort of external force at will can just call shivers. I leave the readers of this blog to comment and share your thoughts on this.

What and Why? | Bitcoin Pakistan

I figured it was time to update and give some information on what excatly is bitcoin and blockchain to my fellow country men. This is my view of what it is and why it is. Please realize that bitcoin in my opinon was created to make money truly yours. Currently all financial systems work through centralized banking, anyone living in Pakistan already know the problem with the control the banks have right now on our accounts. The idea is what I believe was in the head of satoshi that led to the creation of the first true peer to peer (similary to torrent) type currency known as btc or bitcoin. He laid the foundationg of an opensource ledger(database) for the general public where every entry was single entry and could not be removed.  But all the ledger was synced with the other users running the software on the network. This software was known as a wallet which can be considered like a bank account of sort for the comman man. While you can have many wallat addresses in a single wallet it resides in public ledger. This is also why it is important to backup the wallet.dat file of your wallet if you have the full software running. There are now online wallets and paper wallets you can also store your bitcoins on online exchanges or bitcoin trading platforms. Do remember if you lose your wallet on your pc or paper wallet for any reason its gone forever. I believe that bitcoin is still in its infancey and has a long way to go, think about how internet came about:
There was Fax–> Bullitin Board Service or BBS–> email –>internet
It took it a long time, it wasent an overnight revolution. Similarly bitcoin is very new. While it has captured a huge market it still has a long way to go. There are benifits of the blockchain and bitcoin as both are being innovated upon. Some companies are working on blockchain(ledger, or database) such as voip (p2p) coins such as korecoin and viorcoin then there rare coins such as bay, blk etc that support smart contrants and p2p markets. Then there is the ripple gateway that is trying to replace the current swift system.

Then there are services that belive in bitcoin itself and are using its financial power to change the way we bank or use money today. Think about the fact that you own one currency that works throughout the world you dont have to worry about Pakistani ruppee price fluctuating aganist the USD (this is an example) as PKR is not accepted everywhere in the world. It is a true boarderless curreny that I believe is brining people closer together. The launch of https://www.coinpip.com is one such gateway which lets companies pay their developers anywhere in the world. Its a singaporian startup that is doing alot of work in this feild. They take the bitcoin out of picture but use bitcoin in the backend. Then there are exchanges and atms and user acceptance poping up everywhere around the world, such as microsoft, dell, paypal, namescheap, overstock etc. There are physicall vendors in Pakistan too. There is a shop in Gunjarawallla, a petrol pump/ gas station in Karachi, then http://www.paybill.io where you can pay your bills for Malaysia and Pakistan and also do mobile topups, or easy loads http://www.a2zlawn.com that are accepting bitcoins for payment,  you can also check http://www.coinmap.org for a few other locations that accept bitcoins.

I have also witnessed the power of bitcoin recently and how user to user interaction increases adoption.  I was contacted by a person who wanted to buy stuff from a vendor in another country wanted to learn about bitcoin and how it could benifit him. After consultations with us he wanted to give it a go. But his vendor was also fearfull of the price fluctions and how bitcoin could be risky as he believed it cant be real. The user here after consultation convinced his vendor that he would be taking this risk so there was no worries at his end. The first transation they did took all in all 15 mins and the cash was transfered in the vendors bank account while saving the payee money as compared to if he had used a credit card or wiretransfer. When the vendor saw this his response was: “This is really very easy, will you make more payments like this?” This is what I believe money should be, a truely boarderless medium with worldwide acceptance. The bad policies of some countries have left them in poverty, this doesnt mean that that the citizen of that country should not even have control over their funds/money and acceptablity etc. If the currency is truely boaderless he doesnt have to worry about local exchangers even.

I do believe this is only the begining of the future what the future holds, can only be witnessed in time. I do believe there is a need for one global international currency even the world powers such as china, russia and UN want this. There is an interesting article that was put out back in 2009 http://www.telegraph.co.uk/finance/currency/6152204/UN-wants-new-global-currency-to-replace-dollar.html and I think bitcoin is the answer for that.

 

Bitcoin Acceptance in Pakistan Moving Forward | Bitcoin Pakistan

Its been a great week with urdubit picking up trade volume. And now a new website a2zlawn opening its door to welcome bitcoin acceptance in Pakistan for designer and Replica stores. While the awareness about bitcoin is not up to par in Pakistan, we are seeing new users come onboard.

Pakistan I believe is a land of opportunities bound and held back due to lack of knowledge. New start-ups lack funding great ideas get shot down time and again. What people dont realize is that with bitcoin the world is now open to them. And in due time it will be the currency of choice. Sites like bitlancerr , onewallet are popping up everywhere and making it easier for Pakistanis to tender their services and get paid without boundaries. At present I am also in talks with http://www.sakamaonline.com to introduce bitcoin acceptance as they are very interested.

Going forward what we must all realize is that bitcoin is here to stay and will grow in due time. What I look forward to see is that people accepting bitcoins like they accept PKR.

Introduction of Bitcoin

Bitcoin may be a type of digital currency, created and control electronically. Nobody controls it. Bitcoins aren’t written, like bucks or euros; they’re made by many folks running computers all round the world, victimization computer code that solves mathematical issues. It’s the primary example of a growing class of cash referred to as cryptocurrency.

What are Bitcoin, and the way will it take issue to alternative kinds of Digital Cash?

Bitcoin may be accustomed get things electronically. Therein sense, it’s like typical bucks, euros, or yen, that are listed digitally.

But bitcoin’s most vital characteristic, and also the factor that creates it completely different to standard cash, is that it’s suburbanized. No single establishment controls the bitcoin network. This puts some folks relaxed, as a result of it means an outsized bank can’t management their cash.

Who created it?

A computer code developer referred to as Satoshi Nakamoto planned bitcoin, that was AN electronic payment system supported proof. The concept was to provide a currency freelance of any central authority, transferable electronically, a lot of or less instantly, with terribly low dealing fees.

But World Health Organization Prints it?

No one. This currency isn’t physically written within the shadows by a financial institution, unaccountable to the population, and creating its own rules. Those banks will merely turn out more cash to hide the debt, so devaluing the currency.

Instead, bitcoin is formed digitally, by a community of individuals that anyone may be a part of. Bitcoins are ‘mined‘, victimization computing power in an exceedingly distributed network. This network additionally processes transactions created with bitcoins, effectively creating bitcoin its own payment network.

Does that mean that you just can’t churn out Unlimited Bitcoins?

That’s right. The Bitcoin protocol – the principles that build bitcoin work – say that solely twenty one million bitcoins will ever be created by miners. However, these coins may be divided into smaller elements (the smallest separable quantity is 100 millionth of a bitcoin and is named a ‘Satoshi’, once the founding father of bitcoin).

What is it based mostly on?

Conventional currency accustomed be supported gold, or silver. in theory, you knew that if you handed over a dollar at the bank, you may get some gold back (although this didn’t really add practice). Bitcoin isn’t supported gold; it’s supported arithmetic.

Around the world, folks are victimization computer code programs that follow a mathematical formula to provide bitcoins. The mathematical formula is freely accessible, in order that anyone will check it. The computer code is additionally open supply, which means that anyone will inspect it to form certain that it will what it’s alleged to.

Is Bitcoin Legal? | Bitcoin Legal

Bitcoin is of interest to enforcement, tax authorities, and legal regulators, all of that are attempting to grasp however it fits into existing frameworks. The lawfulness of your bitcoin activities can rely upon United Nations agency you’re and what you’re doing with it.
Bitcoin has established to be a contentious issue for regulators and law enforcers, each of that have targeted the virtual currency in a shot to manage its use. we have a tendency to ar still timely within the game, and plenty of legal authorities ar still troubled to grasp the cryptocurrency, in addition to create laws around it. Amid all this uncertainty, one question stands out: is bitcoin legal?
The answer is affirmative, reckoning on what you’re doing with it. browse on for our guide to the advanced legal landscape close bitcoin. Most of the discussion issues the US, wherever several of the legal dramas ar presently enjoying out.
What ar the issues concerning Bitcoin?
Government agencies ar more and more disquieted concerning the implications of bitcoin, because it has the power to be used anonymously, and is so a possible instrument for concealment. specially, law enforcers appear to be troubled concerning the localized nature of the currency.
As early as April 2012, the Federal Bureau of Investigation printed document lightness its fears around bitcoin specifically, drawing a distinction between it and centralized digital currencies like eGold and WebMoney. It voiced issues that whereas US-based exchanges ar regulated, offshore services might not be, and will be a haven for criminals to use bitcoin for illicit activities while not being derived.
Bitcoin was the sole type of currency accepted on trade route, AN anonymous marketplace that was solely accessible over the TOR anonymous browsing network, and that was closed by the Federal Bureau of Investigation in Oct 2013. Trade route was unremarkably accustomed sell product that ar legal in several countries, as well as narcotics. This prompted US legislator Charles Schumer to involve the location to be stop working, expressly linking it to bitcoin, that he known as a “surrogate currency”. The US Drug social control Administration appropriated bitcoins from a US resident for buying a drug in Gregorian calendar month 2013.
Who regulates it?
Regulators can vary on a per-country basis, however you’ll be able to expect to check national money regulators fascinated by bitcoin and alternative virtual currencies, doubtless in conjunction with regional regulators at a sub-country level.
FinCEN
In the US, the money Crimes social control Network (FinCEN), that is workplace inside the US executive department, took the initiative. It printed pointers concerning the employment of virtual currencies. FinCEN’s March eighteen, 2013 steerage outlined the circumstances below that virtual currency users may well be classified as cash services businesses (also unremarkably called cash sending business or MTBs). MTBs should enforce Anti-Money washing (AML) and grasp Your shopper (KYC) measures, characteristic the those that they’re doing business with.
CFTC
The US artefact Futures mercantilism Commission (CTFC), that takes care of money derivatives, hasn’t declared regulation nonetheless, however has created it clear that it may if it needed to.
SEC
The US Securities and Exchange Commission (SEC) hasn’t issued solid laws on virtual currencies, however its workplace of capitalist Education ANd support printed an capitalist aware of warn folks concerning fallacious investment schemes involving bitcoin. specially, it warned of Ponzi schemes, once charging Lone-Star State resident Trendon T Shavers, aka ‘pirateat40’, founder and operator of Bitcoin Savings and Trust, with allegedly raising 700,000 bitcoins by promising investors up to seven-membered weekly interest.
Legislative Branch
The SEC case has forced the branch of state to think about bitcoin’s status. Shavers had claimed that he couldn’t be prosecuted for securities fraud, as bitcoin wasn’t cash. However, choose Amos Mazzant issued a note difference of opinion that bitcoin is used as cash.

In August 2013, the Senate wrote to many enforcement agencies, inquiring concerning the threats and risks regarding virtual currency. The letters enclosed this one to the Department Of Homeland Security, fretting concerning the dearth of a written record for regulators and social control agencies to follow for virtual currency transactions. It requested policies and steerage associated with the treatment of virtual currencies, and knowledge concerning any in progress strategic efforts within the space.

November saw responses from the assorted agencies. The Department of Homeland Security was the foremost disquieted concerning the criminal threat from illicit use of bitcoin, whereas the Department of Justice, the Fed and therefore the Department of Justice all acknowledged the legitimate uses of virtual currencies. The SEC argued that “any interests issued by entities owning virtual currencies or providing returns supported assets like virtual currencies” were thought-about securities and so fell below its remit.

US States

Each US state has their own money regulators and laws, and every approaches bitcoin otherwise. American state and ny are notably aggressive in their pursuit of bitcoin-related organizations, for instance, whereas others, like American state, South geographical region, and MT, don’t regulate cash sending businesses. there’s a listing of state approaches to cash transmitter laws here.

In could 2013, California’s state money regulator issued a letter to the Bitcoin Foundation, a noncommercial organization designed to push bitcoin, warning it that it should be a cash transmission business, and threatening folks there with potential fines and jail time.

Then, in August 2013, the ny Department of monetary Services issued subpoenas to twenty two bitcoin-related corporations, though these letters were a lot of conciliatory, inquiring for a dialogue to develop applicable regulative pointers for the digital currency trade. Since then, ny has planned issuance “BitLicenses” – licenses for bitcoin-based businesses – and can be holding hearings on the topic.

Private Sector corporations (Banks)

Several banks have stopped accounts owned by folks operational bitcoin exchanges. In a minimum of one case, this was as a result of the bank was sad that the corporate concerned failed to have a cash sending business (MTB) account.

The Senate self-addressed the difficulty of banking and federal regulation in an exceedingly set of hearings, command in Nov. The hearings were alpha in nature and should not result in legislation, however feedback from agencies enclosed acknowledgements that there have been legitimate uses for the coin.

What this suggests to You

The lawfulness of bitcoin depends on United Nations agency you’re, and what you’re doing with it. There ar 3 main classes of bitcoin neutral. somebody could represent quite one in all these classes, and every class has its own legal issues.

Users

These ar people that get bitcoins, and either hoard them or pay them. below the law enforcement agency steerage, users United Nations agency merely exchange bitcoins for product and services ar victimization it lawfully.

FinCEN: “A person who creates units of this convertible virtual currency and uses it to get real or virtual product and services could be a user of the convertible virtual currency and not subject to regulation as a cash transmitter.”

Miners

According to the law enforcement agency steerage, folks making bitcoins and exchanging them for edict currency don’t seem to be safe.

FinCEN: “By distinction, an individual that makes units of convertible virtual currency and sells those units to a different person for real currency or its equivalent is engaged in transmission to a different location and could be a cash transmitter.”

Miners appear to constitute this class, that may in theory create them chargeable for MTB classification. this can be a bone of rivalry for bitcoin miners, United Nations agency have asked for clarification. This issue has to not our data been tested in court.

Exchanges

Exchanges ar outlined as MTBs.

FinCEN: “In addition, an individual is AN money dealer and a cash transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to a different person as a part of the acceptance and transfer of currency, funds, or alternative worth that substitutes for currency.”

Taxation

In 2009, the US tax revenue Service (IRS) denote data concerning the tax applications of victimization virtual currencies within virtual economies, difference of opinion that taxpayers will receive financial gain from a virtual economy and will be needed to report it as nonexempt financial gain. However, it primarily based this mostly on steerage associated with bartering, gambling, business, and hobby financial gain.

However, the Internal Revenue Service has not nonetheless denote steerage on ‘open flow’ virtual currencies that may be used outside of virtual economies. in an exceedingly 27-page report [PDF] printed in could 2013, the US General Accounting workplace (GAO) involved a lot of steerage from the Internal Revenue Service on this issue.

The Internal Revenue Service responded that its steerage may currently be taken to hide virtual currencies as used outside of virtual economies. It added that it absolutely was conjointly observing the potential tax compliance risks display by anonymous electronic payment systems, and was operating with alternative federal agencies on the subject.

In Gregorian calendar month 2013, the director of AN Internal Revenue Service unit that investigates cyber threats conjointly told the money Times that the employment of “cyber-based currency and payment systems” to cover unreported financial gain from the Internal Revenue Service could be a threat that it absolutely was “vigorously responding to”. And at Senate hearings in Nov, law enforcement agency director Jennifer Shasky Calvery confirmed that the Internal Revenue Service would be emotional a lot of steerage on virtual currencies. In short, don’t expect to evade taxes by earning bitcoins rather than edict currency.
What is the trade Doing?

The trade has well-versed growing regulator issues in many ways that.

– many corporations created a committee to create a self-regulatory body known as knowledge, designed to encourage open oral communication with regulators.
– The Bitcoin Foundation shaped committees to supply legal steerage, steer policy, and talk terms with regulators.
– Exchanges are making an attempt to secure MTB licenses at the state and federal levels, and a few have avoided doing business with US customers till this can be resolved.

Other Countries

While no government has declared any express intention to forestall bitcoin use fully, round the finish of 2013 and begin of 2014 there have been a series of warnings and directives from central banks and regulators to varied degrees of severity. they vary from the straightforward “be careful, bitcoin is neither regulated nor formally a currency,” to blocks on money establishments and even raids on bitcoin businesses. several claim to be disquieted concerning the result that large-scale bitcoin adoption may need on the steadiness of the financial set-up, particularly if costs ar volatile.

Europe

European Union

The EU’s banking regulator, the ecu Banking Authority (EBA), issued a warning statement on thirteenth Dec 2013 warning of investment risk, however focusing principally on problems with fraud, nonpayment and alternative crime connected to ‘virtual’ currency use. The statement conjointly warned that if news of misuse continuing to emerge, it “could lead enforcement agencies to shut exchange platforms at short notice and stop customers from accessing or retrieving any funds that the platforms could also be holding for them.”

United Kingdom

Meetings with policymakers within the United Kingdom in Sept steered that bitcoin-based businesses wouldn’t ought to register with regulators, a minimum of for the present, whereas they think about their regulative position. the foremost recent message from the united kingdom suggests that bitcoins won’t be treated as cash, however can instead be classified as single-purpose vouchers, that may carry a VAT (sales tax) liability on any bitcoins that ar sold .

Germany

Germany is maybe the foremost advanced country once it involves control bitcoin and virtual currencies. though some problems stay unresolved, the German government has exempted bitcoin transactions command for over one year from twenty fifth capital gains tax. It conjointly classified bitcoin as a type of personal cash. In early Jan 2014 the Bundesbank recurrent a warning that bitcoin was “not an alternate to national currencies,” and values were “highly speculative.”

Belgium

The full service bank of Belgique has no intention of intervening in bitcoin business or control it, says the Belgique Bitcoin Association. On sixteenth Jan 2014, however, the financial organisation issued a joint warning with the Belgian money Services and Markets Authority (FSMA) that digital currencies don’t seem to be issued by any central authority, and intrinsically ar in danger of volatility, fraud, and business non-acceptance.

France

The French Senate command hearings into bitcoin and digital currencies in mid-January 2014 that were thought-about principally investigative and positive in tone. the main focus was principally on the opportunities given by the new technology and the way existing laws and organizations may well be accustomed catch wrongdoers. creating bitcoin ill-gotten wasn’t AN choice, in keeping with observers, and France required to catch up to neighboring countries in its approach.

Finland

Finland issued a regulative guide to bitcoin in Sept 2013, that obligatory capital gains tax on bitcoins, and taxes bitcoins made by mining as attained financial gain.

Sweden

Sweden’s Finansinspektionen money regulator currently considers bitcoin as a method of payment, following steerage issued last year. Exchanges should register with it and meet the wants two-faced by alternative money establishments.

Slovenia

Slovenia is one in all the a lot of permissive governments towards digital currency use, although regulators there issued a press release on twenty fourth Dec 2013 to cue those that bitcoin is taken into account neither a currency nor a money instrument. The country’s Tax Administration and Ministry of Finance conjointly aforesaid that bitcoin is subject to taxation like all alternative non-monetary financial gain, and would be calculated supported the bitcoin-Euro charge per unit at the time of dealing. marketing bitcoin wouldn’t be subjected to capital gains tax.

Asia and geographical region

Thailand

In Gregorian calendar month 2013, reports steered that Siam had prohibited bitcoin. In fact, as some steered, a number of the exchanges were still mercantilism, and therefore the Bank of Siam, that was the entity that was purported to have prohibited bitcoin, doesn’t have the power to try and do thus. As of August 2013, the Bank of Siam was merely considering whether or not to grant the exchange in question a license.

“Because they need not been granted a license this doesn’t mechanically mean that a private in Siam marketing or shopping for bitcoins with a bitcoin exchange in another country, e.g. Mt. Gox, is breaking the law,” aforesaid Bank of Siam Governor Prasarn Trairatvoraku.

China: People’s Republic of China

China’s authorities have had arguably the most important impact on bitcoin adoption and values within the past few months. In early Dec 2013, the People’s Bank of China (PBoC) issued a press release warning of bitcoin risks and forbiddance money establishments from partaking in bitcoin business themselves or transferring funds to/from bitcoin exchanges. Another statement simply days later conjointly blocked third-party payment processors from handling exchanges, and therefore the worth of bitcoin worldwide crashed from its record high of over $1200 by concerning five hundredth. The moves have had a dramatic result on the market share of enormous bitcoin exchanges within the country.

In mid-January A PBoC official claimed there’s no move to suppress or discriminate against bitcoin in China, and exchanges are allowed to stay open for business. There will appear to be a political candidate campaign to limit bitcoin trade to the fringes, however, and China’s state-owned business television channel broadcast a documentary identical week jam-packed with dire warnings concerning risks to investors from worth volatility.

China: city

Hong Kong’s Secretary for money Services and therefore the Treasury issued a warning concerning risks related to bitcoin on ninth Jan. The Special body Region (SAR) of China and money hub has remained otherwise inactive in its approach to bitcoin, spoken language it doesn’t cause a risk to the financial set-up if it’s not wide adopted.

China: Republic of China (Taiwan)

The money superordinate Commission of the Republic of China and therefore the financial organisation of the mythical creature issued a joint statement at the terribly starting of 2014 warning against bitcoin use in Taiwan. Regulators there have conjointly aforesaid they’ll block any decide to install Robocoin bitcoin ATMs.

Singapore

Singapore is another major international money services hub and seems to be one in all the world’s most permissive environments for bitcoin. The financial Authority of Singapore has expressed it “will not interfere” with bitcoin business, despite AN earlier warning in Sept 2013 of the risks. In mid-January 2014 Singapore’s taxation authority, the IR Authority of Singapore (IRAS) sent a press release to native brokerage Coin Republic with details on however bitcoin business would be taxed.

Bitcoin are going to be treated not as a currency however as either a decent or quality, said IRAS. As a decent it’d be subject to GST (VAT or excise tax) once listed to and from native currency by Singapore-resident businesses and product purchased with bitcoin would even be subject to sales tax. As AN investment quality, bitcoin wouldn’t be taxed as Singapore doesn’t have a capital gains tax.

Malaysia

Malaysia’s financial organisation, Bank Negara Malaya (BNM), issued one in all the shortest statements of its kind on fourth Jan, cautioning folks to use caution once finance in bitcoin however otherwise spoken language merely “The financial organisation doesn’t regulate the operations of bitcoin.”
Indonesia
Indonesia’s financial organisation, Bank Dutch East Indies, issued a warning on sixteenth Jan 2014 that bitcoin wasn’t thought to be a currency and acceptive it as payment may even break national currency laws. No future action against exchange businesses has been taken up to now, however.
India
India’s financial organisation is claimed to be “watching” bitcoin. in an exceedingly series of dramatic moves, the depository financial institution of Bharat (RBI) issued a warning concerning bitcoin in late Dec 2013 that was followed quickly by exchanges selecting to suspend operations. One exchange had its premises raided and another was paid a “friendly” visit by tax officers to analyze however digital currencies may well be managed and taxed. Some exchanges have since re-opened for business.
Israel
The Israeli Tax Authority is claimed to be considering a tax on bitcoin, however no statements are created at the time of writing. However, the Israel Bar Association considers the virtual currency AN applicable type of payment for attorneys.
Lebanon
Lebanon’s financial organisation, the Bank of Asian country, issued a warning statement on 2d Jan 2014 spoken language that bitcoin failed to supply client protections, had a volatile worth and was typically employed in criminal transactions. It suggested folks to not use digital currencies.
North America (Non-US)
Canada
Canada has declared that it’ll tax bitcoins in 2 ways that. Transactions created for product or services are going to be treated below its barter dealing rules, whereas its Transactions in Securities document says that profits created on artefact transactions may well be financial gain or capital. It confirmed these rules in Nov 2013.
Oceania
Australia and New island
Both the Governor and Assistant Governor at the depository financial institution of recent island (RBNZ) issued personal warnings in time period 2013, warning of risks related to volatility, however conjointly commenting that the technology was “interesting”. within the same week, the Governor of the depository financial institution of Australia created similar comments in an exceedingly newspaper interview and warned of “speculative excesses”. Neither country has created any moves to dam or otherwise regulate bitcoin businesses, and each home to variety of smaller exchanges.

Pakistan’s First Bitcoin Trade Platform Goes Live | Buy Sell Bitcoin Pakistan

Pakistan’s first trading platform has just gone Live. Here you can trade your btc to pkr or vice versa. While still in beta Urdubit is offering first 1000 users a balance of Rs100 to begin trading and learning the platform. It has just been published on Coindesk. This is great news for all Pakistanis. With the current trade deficit we always have to borrow interest bearing loans in USD. This also fills the need for Pakistan’s requirement for a payment processor. Now people can buy internationally by just using bitcoin and not have to worry about USD all together. Its a great initiative as many websites in Pakistan can now find customers abroad with secure payments. I hope to cover this story further and also cover a tutorial on new user signups and how you can trade on this website. This is currently the only known trading platform bitcoins in Pakistan.

What to expect

 

What to expect:
I plan to set this up as more of a help and tutorial to those new to bitcoin, litcoin, darkcoin. The posts to follow will be helpful for new miners on how to mine with cpu, gpu(graphic cards or video cards, amd based ones), asics and cloud mining. While I dont recommend mining with them but the idea is to teach people how to get started. Dont think of this as a get rich quick scheme. Mining takes a bit of effort, very powerfull hardware and some common sense. The idea here is to teach people what to expect.

 

Brief History:
Bitcoin as described by its maker (Satoshi Nakamoto) is a payment system based on open source standards that was presented to the world in 2008. Who is Satoshi Nakamoto no one knows there are many ideas who he might be but no one knows for sure who he/she is. Think of bitcoin as a torrent where bitcoin works peer to peer only. Meaning it can be transferred from me to third-party without any administrator with close to very little or no fees. To make this transaction possible different users have mining hardware running. This hardware can be in the form of a cpu, gpu, asic and cloudmining, heck there is even paper mining which you can do yourself it wont earn you anything but you will learn something(Will get into more details on each in later details). At this point I would like to inform you that there are only 21million bitcoins that can be mined from which about 61% have already been mined. At this point you can hop over to Bitcoin Wisdom to check out what current rates are for 1 bitcoin converted to usd. The idea presented by satoshi was to have a decentralized currency which can be termed as “Money without Boarders”. Today Paypal(For US Only), Dell, Expedia, Overstock are the big giants who have started accepting bitcoin, btc or xbt(xbt is being used by bloomberg as tracker on commodities market to give rates of bitcoin) other then these there are numerous other smaller companies accepting bitcoins. All mining hardware manufactures accept bitcoin, litecoin for payments. Bitcoin now works on a blockchain which is basically a public ledger of all transactions. The idea was to keep everything anonymous so a wallet and sha256 encryption was introduced. Hence when ever you talk about btc, xbtc and its mining it will be refereed to  as sha or sha256 hashing.

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The Wallet:
The wallet is basically where you store coins. Do remember if this wallet is stolen you have lost all your bitcoins permanently. Some people like online wallets some people like offline ones some like cold storage wallets which can be printed or engraved onto paper metal silver gold etc. You can pretty much google for different types of wallets for bitcoin and you will find alot. The best online and most trusted one is at blockchain. There are many android wallet available, you can just search blockchain or if you prefer another wallet search for bitcoin or bitcoin wallet on Google Play Store.

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How to Get bitcoins:
There are many websites that explain this. You can trade bitcoin for fiat(other printed currencies) through online exchanges such as Cryptsy or bittrex or btc-e just to name a few. Most of these sites support wiring money but if you prefer to use credit card which is an untrusted method since there can be chargebacks you can pay a little extra and use this blog to buy through credit card.

Other Sites to buy bitcoin from webbased atms:

Coinsafe
Bitcoinpk

 

Other interesting Coins:
The idea of bitcoins was really appreciated and it really took off around 2009 and 2013 respectively. There were many others who presented other ideas on coins which brought value. Coins like namecoin or nmc (a blockchain based domain of .bit and is not governed by any authority so you can host anything you want without any restrictions), primecoin or xpm(which uses its hashing power to produce prime numbers), korecoin, kore(a more recent coin with anonymous voip calling and later cheaper then skype calls), litcoin or ltc(A copy of bitcoin based on scrypt algorithm much faster transactions then btc, xbt ) and also darkcoin or drk (a truly untraceable coin also relatively new) based on x11 algorithm. Please take note there are about 400+ plus different types of coins some very unique some even arent open source I cant get into them all but these are the coins I personally like and therefore I have mentioned them here.

 

Going Forward:
This technology is still very immature at best there are things happening as we speak. Bloomberg has started carrying the symbol XBT to denote btc. Its being listed as a commodity in the US market. And should hit NASDAQ after December 2014. More and more companies as mentioned above in the brief history are starting to accept it. There are some negatives too like the Mt-Gox scandal, then a few hack attempts where people compromised pcs to mine for them. Bangladesh ban. Russian considering a Ban are at the center of btc and lets see where it takes us. but I for one believe that it is here to stay and it will be hard to ban people who you cant track and are dealing in this. My next post will get you started with mining we will proceed with cpu mining, followed by gpu, asic and round it up with cloud mining.