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How to Start Lending on Bitconnect – Easy tutorial shows you how // Instructions explained

How to Start Lending on Bitconnect – Easy tutorial shows you how // bitcoin lend lending program proof review instructions explained withdrawal capital release reinvest scam ponzi calculator calc money david moadel welcome to looking at the markets with David Modell I wanted to give you a really quick and simple guide to how to transfer money to bit connect so you can start lending money and earning profits in the bit Connect lending program alright so first you have to log into your bit Connect account on bit connect Co alright and if you want to join bit connect by the way there's a link I'm gonna provide you with a link and it's below this video in the description of the video so you can click on the link and join bit connect and you can be on my bit connect team for the lending alright and I can be your guide or your mentor if you want and if you have questions if you joined bit connect and you want to put some money into the bit connect lending program so you can start earning profits every single day you can email me at any time my email address is David Modell at gmailcom but first you need to sign up under my affiliate link for bit connect and be part of my team so check the description and click on the link below this video alright so if you're ready to start lending money for the program start earning profits you would go and go to your bit connect account sign in log in with your password and then click on dashboard which is right here dashboard ok and that'll take you to the main page the dashboard now you need to get some bitcoin okay either on coin base or somewhere else and then transfer it from coin base or wherever wherever you have your Bitcoin wherever you bought it you want transfer it from there to your Bitcoin wallet it's right here okay on the dashboard on the bit connect website after you log in the Bitcoin wallet is right here okay you can see how much you have in there right now I have nothing but so you need to get your Bitcoin into the Bitcoin wallet here in order to do that you need know what your address is your Bitcoin wallet address on bit connect okay on the bit connect website so how do you find out what your Bitcoin wallet addresses on bit connect well you can click on the left side of the screen you can click on a little wallet thing here or you can also go to the little menu thing and you can click on wallet here either way both of them will take you to your wallet there's your wallet alright and then we're see where it says receive bitcoin BTC alright you would click on that green button here and that that way you can get the address to accept Bitcoin payments alright because you're going to need to send your Bitcoin from coinbase or wherever to to your bit connect Bitcoin wallet alright and so you need to find out your bit connect Bitcoin wallet address and so you'll click that green button and then you can copy that a Bitcoin address make sure you copy it exactly you don't want to send a Bitcoin from coinbase or wherever to a wrong address that would not be good okay so you want to copy it exactly you can right click copy whatever it is alright and then you go to a coin base or you know wherever and then let's say it's coinbase that's you know one of the more popular ones and then you click on accounts after you log in a coin base alright and then you go to your account so you go to your Bitcoin wallet which mine doesn't have any Bitcoin in it right now but if you did have some Bitcoin in there you can click on send and then you can paste in that address the which you copied from here from the green button on the bit connect website ok so you go to coinbase or wherever you know whatever you have the Bitcoin and you send it to that address that you've got from this this green button here from the wallet you know again you go to the wallet part of the wallet icon on the menu here ok so and that's gonna take a little bit of time alright so now you have to wait you have to keep checking back keep checking back to see if it's here if your Bitcoin is and the Bitcoin wallet then you're in good shape okay then the next step is to click on exchange because now you need to transfer or exchange from the Bitcoin here to your bit connect wallet here you need to get the funds from here to here alright in other words you're exchanging your Bitcoin to bit connect tokens and putting it here alright so how do you do that well once you see the Bitcoin in here you click on exchange which is right here and you give it a few seconds all right and it'll take you to the exchange alright and there you go and by the way another way to get to the exchange you can click on the menu thing here alright and you can go to be BCC exchange it's right here that'll also take you to the same page or you could just click on this little icon right here on the menu here ok so now you're gonna go down go down go down and there you see by cell BCC okay so you're gonna buy BCC you're gonna buy some bit connect tokens using your Bitcoin okay in other words to get your you know your money from the Bitcoin wallet to your bit connect wallet you have to go down here and you have to purchase it alright so how do you do that well it's the default settings are fine you just you see that blue button that's first of all you go to the buy BCC not to sell BCC you go to the buy seized by BCC that means buy bit connect tokens with your Bitcoin all right from your Bitcoin wallet here now you click on all the blue all button ok assuming that you want to invest all of the Bitcoin you don't have to do all you could just put some of it if you want to but if you want to do all of it all of the Bitcoin that you transferred if you want to lend all of it or invest all of it in the bit connect lending program then you'll you would have to you know change all of it into bit connect tokens because that's what you'll be led basically all right so you can click all if you want to do all of it and then you see where it says last you could just leave it there leave it on last okay and then click on so you know leave that blue button last and then click on the green button by bit connect coin all right and it may take a few seconds may take a few minutes but eventually should be able to purchase the the bit connect coin with your with your Bitcoin okay and if it doesn't go through if the price keeps jumping around you may have to change this number okay you may have to lower it or raise it you'll probably have to raise it okay yeah in other words you might have to spend a little bit more okay so you may have to adjust the number hopefully you'll get it the first time hopefully you'll be able to buy it on the exchange the very in the very first attempt if not try raising you know adding a little bit to this number add a little bit more add a little bit more you don't want to add too much you don't want to you know get ripped off you don't want to overspend all right you don't wanna just give away your money like that you want to get the lowest price possible but you also want to make the purchase you don't want to be left out all right so try it raise the price if you have to a little bit keep trying again eventually you should get it you should be able to make that purchase all right and you can scroll down a little bit and see all the orders all the buy orders sell orders more importantly you can see your open orders and if it's not filled then keep waiting and then try again if you have to all right and hopefully it'll change from an or from an open order to a filled order in your my order history okay so if it goes from here open orders to my order history that means you know that it went through your order was filled and you made the purchase of the bit connect token all right and you could always come back to this page to check that the funds should be you know should be out of your Bitcoin wallet and now into your bit connect wallet you should have some funds there okay should have some bit connect okay and that's where you're going to lend alright and you need to have at least $100 worth to start in the lending program all right 100 US dollars we're talking about okay finally yeah you're almost there okay then you go back to the dashboard which you could either do through the menu here or just by clicking on this icon here alright so you'll have some funds hopefully by now and your bit Kinect wallet okay and now you would click on see that blue button here lend bit connect all right you would click on that and I don't have enough you know I don't have anything and right now in my bit Kinect wallet here but if I did then I would certainly want to lend it especially if I had at least $100 worth okay and so what you would do is you put in here you type it in how much you want to lend it could be $100 could be whatever it is a thousand five thousand you know whatever you want to be depending on you know how much you want to earn okay and how quickly you want to get your initial investment released back to you and that's called capital release alright the more you invest the more you earn as you can see and the quicker the capital release will be okay so if you want to put in let's say a lot of no a thousand and ten dollars so you can get to this level here or whatever okay now do not invest more than you can afford to you know to lose or to put at risk yeah I don't want you to I do not want you to invest any money that you will need tomorrow or next week or next month okay this is money that you're willing to put at risk but you know as far as I'm concerned I'm willing to take the risk I feel very confident about the bit Connect lending program alright so you put in how much you want to lend and put in the lending program so you can start earning daily interest payments okay and then it'll tell you how much that isn't bit connect all right and then you click a check the box you read the Terms of Use you're making a decision to participate alright with a full understanding of the rules and regulations and then you click on the blue button pay from bit connect wallet alright and then you're in then you're you're in the program and check back every 24 hours and you should start to see your interest payments and they should start to add up and when you have at least ten dollars in your lending wallet to reinvest okay what you know you'll see the interest payments start to add up here and then when it's at least ten dollars you can click on this blue button here reinvest right now I because I keep on reinvesting I don't have ten dollars right now I only have two dollars and 46 cents but if this was at least ten dollars you could reinvest that ten dollars okay which is what I'm doing you don't have to you can withdraw it but personally I like to keep reinvesting it that way I can get even bigger interest payments through the magic and through the power of compound interest alright so that is a quick and simple hopefully a tutorial on how to start investing in bit connect after you've signed up okay and you can see my affiliate link here and again it is in the description of this video and if you've signed up to be part of my team if you've signed up through my affiliate link and you're ready to start depositing funds you can re-watch this video as many times as you want and you can also email me at David Modell at gmail

com and I can help you through the process if you know because this this is a multi-step process it might be complicated for you that's okay if you're on my team then I can be your coach or mentor in helping you to invest money correctly into the bit connect lending program and also to reinvest it when you're ready to do that you don't have to reinvest but that's what I do I've been doing it every single time alright so thanks a lot I really appreciate it I hope this is a resource for you if you're ready to invest money into the bit connect lending program all right how I hope that you will give this video a thumbs up on YouTube I hope that you will leave a comment and subscribe to my youtube channel alright thank you so much I appreciate it and I'll talk to you again soon

Source: Youtube

The Bitcoin and Blockchain Technology Explained | Magnus Prep Explains

Cryptocurrency and Blockchain Bitcoin was recently in the news yet again for reaching new value heights From being worth a couple of cents in 2008, it was worth more than $12000 in the first week of december Bitcoin is a kind of cryptocurrency that uses blockchain technology for its exchange and distribution

This technology in turn, is one of the biggest disruptors in the world of finance today And as soon as you try to understand what it is all about, you are bombarded with a host of terms such as Blockchain, Hashing, Distributed Ledger and whatnot So in this edition of Magnus Prep Explains…let’s decode Cryptocurrency and Blockchain For the sake of simplicity let us assume that transaction here would mean only monetary transactions Blockchain: Data today is a power tool which can be used to do wonders

But if this data is stored in a centralised place, it is vulnerable to attacks and thefts Blockchain offers analternative to this Blockchain technology enters the records of your transactions at multiple digital entities Each of these entities become a part of a decentralised ledgerThis is similar to the ledger that your bank has for your credit card transactions, but here the ledger is not held with a central authority (i

e your bank), but thousands of copies of this ledger are distributed all over the network Each and every part of the network ie a human acting through a computer can verify the transaction

Hence the term ‘decentralised ledger’ is used to refer to such ledgers This blockchain is Fault Tolerant Which means that if one of the computers that are a part of the network is not able to verify the transaction due to some error, the transaction can still be verified by the other computers of the network So when A sends some money to B using the blockchain network, a new entry is created which needs to be agreed upon by every person who is a part of the blockchain It is just like A and B having some hundreds of friends around them, who watch A send the money to B and then verify whether the details of the transaction such as the amount of money transferred is correct or not Every such transaction remains a part of the ledger forever, which means an entry to the ledger cannot be removed

It remains there till perpetuityThus there is no central authority involved No bank, no government, no notary In short, no middlemen through which the transaction needs to be routed through So what if we have a rogue in the blockchain who tries to tamper with the records and tries to modify or change the entries of the distributed ledger Well, the nature of the blockchain makes it impossible for our troublemaker to do so as this modification would be rejected by all the other computers that verified the transaction Hence, a blockchain lacks a central point of vulnerability

Instead of having to breach just one server or computer, our rogue guy can cause trouble if only a majority of the network is compromised So the Blockchain does not have a single point of failure Here is something interesting to note When all the other people on the network verify the transaction, they actually verify the parties involved in the transaction through an encrypted key Every party who is a part of the transaction has a unique key (which is generated by a different algorithm)

Hence while a transaction can be verified, the true identity of the parties involved cannot Bitcoin: Bitcoin is a cryptocurrency or digital money which can be used as a currency while making a transaction using blockchain It is not a physical coin One can own multiple coins or even one-thousands of a Bitcoin Bitcoin is not the only cryptocurrency that are available to trade in There are other cryptocurrencies as well

Some popular examples are: 1) LiteCoin(MAKE THESE APPEAR AS I SPEAK) 2) Zcash 3) Ripple 4) Ethereum But another question arises now If there is no bank, where is all the digital money stored? All the money is stored in digital walletsEach digital wallet has a wallet address which is similar to your bank account number Thus a member of the blockchain can make a transaction from his own wallet address to the other party’s wallet address But he has no control over what happens once the money is deposited in the other party’s wallet Blockchain security measures use a unique encryption technology rooted in the so-called Public and Private Keys: a) A public key (a long, randomly-generated string of numbers) is a users’ address on the blockchain

Bitcoins sent across the network gets recorded as belonging to that address b) The ‘private key’ is like a password that gives its owner access to their bitcoin or other digital assets Background: As esoteric as the whole idea of Blockchain and Bitcoin might seems, let us add a new element of mystery to it No one knows who created the Blockchain and bitcoin Well, we do have a name though Satoshi Nakamoto is the name used by the unknown person or people who designed bitcoin and created its original reference implementation

As part of the implementation, they also devised the first blockchain database No one knows who Satoshi Nakamoto is or where he or they reside At this point in time, you might think about what is so incredible about a group of people known only by their unique keys verifying and enabling digital transactions? Put a little more thought into it While the whole idea of anonymous transaction might seem shady, it brings with it a whole new level of transparency like no other It is almost like an oxymoron, but a very helpful one in our case

Let us show you some examples where the blockchain technology might bring about a revolution This can be used to make a transaction of almost anything digital Think about it, blockchain technology can be used almost anywhere where digital multiplicity or digital copying has to be avoided Some real-life examples of blockchain usage are: Our Democracy in the Future(the image ‘democracy’ will take up the whole screen in zoom in position):A company called Horizon State has built a blockchain technology which can be used for votingInstead of transacting bitcoins, this blockchain technology can be used for voting

Every vote cast remains a part of a digital ballot box which cannot be hacked or altered Duplication of votes can also be prevented and voter identity is protected(the image ‘horizon state’ will appear in the background) Forbes has called this technology a global gamechanger which will soon be adopted by political parties Our Energy in the future:(the image ‘future energy’ will appear on the full screen in zoom out position) Last year a group of households in Australia traded excess solar energy that each of them generated with their neighbours using blockchain The amount of energy shared could be verified by the other members of the neighbourhood and part of the blockchain

Here energy was the commodity being traded instead of a cryptocurrency Amazing ain’t it? Now let us look at some frequently asked questions which would help you in your interviews and GD process as well? Is Bitcoin or Cryptocurrency trading legal in India Well let’s say, it is not illegal While it is not banned in India, it is in a grey area The RBI does not stop it but asks the public to be careful while dealing in it What about the rest of the world There are a few countries such as Nepal, Bangladesh, Bolivia, which have banned bitcoins

While there are a number of countries that actively support bitcoin trading Canada, on the other hand, tries to regulate Bitcoins It recently opened a BitCoin ATM Brazil too seems to be accepting it with open arms It passed a law specifically for Electronic Currency in 2013

In most countries, Bitcoin is in the grey area where there is either ambiguity or ambivalence regarding it What are ICOs? ICOs stand for Initial Coin Offerings They are similar to an IPO (Initial Public Offering) of a company An unregulated means by which funds are raised for a new cryptocurrency venture An Initial Coin Offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks

In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin What is Bitcoin Mining? Bitcoin mining is the process of earning bitcoin using the computational powers of your computer to solve mathematical problems Can Bitcoins be converted into INR or USD? Yes There are a number of bitcoin exchanges that convert your bitcoin and give you the equivalent amount of the currency of your choice What are the benefits of Bitcoins? Bitcoins come with the sense of liberty in the transactions that you make using them

There is no authoritative oversight Also, bitcoin can be traded in exchange markets just like shares of a company What are the drawbacks of Bitcoins? Bitcoins can be used for illegal activities as well These activities could threaten the law and order situation of a country It could give non-state actors a means to send or receive money without fearing that the transactions could be traced back to them

Smart contracts – Simply Explained

Smart contracts (also called distributed apps) are very popular nowadays But what are they and what problems do they solve? The term “smart contract” was first used by Nick Szabo in 1997, long before Bitcoin was created

He is a computer scientist, law scholar and cryptographer so I’ll spare you his exact words But in simple terms: he wanted to use a distributed ledger to store contracts Now, smart contracts are just like contracts in the real world The only difference is that they are completely digital In fact a smart contract is actually a tiny computer program that is stored inside a blockchain

Let’s take a look at an example to understand how smart contracts work You probably are familiar with Kickstarter, the large fundraising platform Product teams can go to Kickstarter, create a project, set a funding goal and start collecting money from others who believe in the idea Kickstarter is essentially a third party that sits between product teams and supporters This means that both of them need to trust Kickstarter to handle their money correctly

If the project gets successfully funded, the project team expects Kickstarter to give them the money On the other hand, supporters want their money to go to the project if it was funded or to get a refund when it hasn’t reached its goals Both the product team and its supports have to trust Kickstarter But with smart contracts we can build a similar system that doesn’t require a third-party like Kickstarter So let’s create a smart contract for this! We can program the smart contract so that it holds all the received funds until a certain goal is reached

The supporters of a project can now transfer their money to the smart contract If the project gets fully funded, the contract automatically passes the money to the creator of the project And if the project fails to meet the goal, the money automatically goes back to the supporters Pretty awesome right? And because smart contracts are stored on a blockchain, everything is completely distributed With this technique, no one is in control of the money

But wait a minute! Why should we trust a smart contract? Well because smart contracts are stored on a blockchain, they inherit some interesting properties They are immutable and they are distributed Being immutable means that once a smart contract is created, it can never be changed again So no one can go behind your back and tamper with the code of your contract And being distributed means that the output of your contract is validated by everyone on the network

So a single person cannot force the contract to release the funds because other people on the network will spot this attempt and mark it as invalid Tampering with smart contracts becomes almost impossible Smart contracts can be applied to many different things, not just on crowdfunding Banks could use it to issue loans or to offer automatic payments Insurance companies could use it to process certain claims

Postal companies could use it for payment on delivery, and so on and so on… So, now you might wonder where and how you can use smart contracts Right now there are a handful of blockchains who support smart contracts, but the biggest one is Ethereum It was was specifically created and designed to support smart contracts They can be programmed in a special programming language called Solidity This language was specifically created for Ethereum and uses a syntax that resembles Javascript

Its worth noting that Bitcoin also has support for smart contracts although it’s a lot more limited compared to Ethereum So now you know what smart contracts are and what problem they solve I hope you enjoyed this video and if you did, hit the like button and get subscribed And as always: thank you very much for watching! #youtube/simply-explained

How does a blockchain work – Simply Explained

Blockchains are incredibly popular nowadays But what is a blockchain? How do they work, what problems do they solve and how can they be used? Like the name indicates, a blockchain is a chain of blocks that contains information

This technique was originally described in 1991 by a group of researchers and was originally intended to timestamp digital documents so that it’s not possible to backdate them or to tamper with them Almost like a notary However it went by mostly unused until it was adapted by Satoshi Nakamoto in 2009 to create the digital cryptocurrency Bitcoin A blockchain is a distributed ledger that is completely open to anyone They have an interesting property: once some data has been recorded inside a blockchain, it becomes very difficult to change it

So how does that work? Well, let’s take a closer look at a block Each block contains some data, the hash of the block and the hash of the previous block The data that is stored inside a block depends on the type of blockchain The Bitcoin blockchain for example stores the details about a transaction in here, such as the sender, receiver and amount of coins A block also has a hash

You can compare a hash to a fingerprint It identifies a block and all of its contents and it's always unique, just as a fingerprint Once a block is created, it’s hash is being calculated Changing something inside the block will cause the hash to change So in other words: hashes are very useful when you want to detect changes to blocks

If the fingerprint of a block changes, it no longer is the same block The third element inside each block is the hash of the previous block This effectively creates a chain of blocks and it’s this technique that makes a blockchain so secure Let's take an example Here we have a chain of 3 blocks

As you can see, each block has a hash and the hash of the previous block So block number 3 points to block number 2 and number 2 points to number 1 Now the first block is a bit special, it cannot point to previous blocks because it's the first one We call this the genesis block Now let's say that you tamper with the second block

This causes the hash of the block to change as well In turn that will make block 3 and all following blocks invalid because they no longer store a valid hash of the previous block So changing a single block will make all following blocks invalid But using hashes is not enough to prevent tampering Computers these days are very fast and can calculate hundreds of thousands of hashes per second

You could effectively tamper with a block and recalculate all the hashes of other blocks to make your blockchain valid again So to mitigate this, blockchains have something called proof-of-work It's a mechanism that slows down the creation of new blocks In Bitcoins case: it takes about 10 minutes to calculate the required proof-of-work and add a new block to the chain This mechanism makes it very hard to tamper with the blocks, because if you tamper with 1 block, you'll need to recalculate the proof-of-work for all the following blocks

So the security of a blockchain comes from its creative use of hashing and the proof-of-work mechanism But there is one more way that blockchains secure themselves and that's by being distributed Instead of using a central entity to manage the chain, blockchains use a peer-to-peer network and anyone is allowed to join When someone joins this network, he gets the full copy of the blockchain The node can use this to verify that everything is still in order

Now let's see what happens when someone creates a new block That new block is send to everyone on the network Each node then verifies the block to make sure that it hasn't been tampered with If everything checks out, each node adds this block to their own blockchain All the nodes in this network create consensus

They agree about what blocks are valid and which aren't Blocks that are tampered with will be rejected by other nodes in the network So to successfully tamper with a blockchain you'll need to tamper with all blocks on the chain, redo the proof-of-work for each block and take control of more than 50% of the peer-to-peer network Only then will your tampered block become accepted by everyone else This is almost impossible to do! Blockchains are also constantly evolving

One of the more recent developments is the creation of smart contracts These contracts are simple programs that are stored on the blockchain and can be used to automatically exchange coins based on certain conditions More on smart contracts in a later video The creation of blockchain technology peaked a lot of people’s interest Soon, others realized that the technology could be used for other things like storing medical records, creating a digital notary or even collecting taxes

So now you know what a blockchain is, how it works on basic level and what problems it solves Want to learn how you can implement a simple blockchain with Javascript? Then checkout this video here And as always: thank you very much for watching