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If you are using the Bitcoin Core wallet to store your Bitcoins locally on your computer you have probably noticed that the Blockchain data files have already passed the 40GB mark (about 40.8 GB at the moment). With the increasing number of transactions happening on the network the increase of the files will continue to grow constantly and this is another aspect that will cause issues for users. Apart from the serious file size there is another aspect, the time needed to synchronize the Blockchain data from scratch is quite big and it is not only dependent on the harddrive’s speed, but also on the CPU you’ve got to process all the data. If you are using the default data directory on your C drive you might be experiencing some free space issues, especially if you use a smaller SSD system drive. The solution for this would be to move the Blockchain data files to another drive and run the Bitcoin Core client with the datadir parameter pointing it to the drive an folder you have moved the data files.
Alternatively you can go for a lighter version of a wallet that does not need all of the Blockchain data stored locally such as MultiBit or Electrum. And then there is also an alternative in the form of an online Bitcoin wallet, there are multiple options available to choose from such as Coinbase, Xapo and many others. Another interesting alternative for long term investments is to use your Bitcoins, or at least some of them, to buy Gold or Silver for example from a trusted precious metals dealer accepting BTC. Then there are also many other ways to invest Bitcoins, but you should be careful as there are quite a lot of scams out there promising very high and very fast returns on your investment, so you should be extra careful with such offers.
Gold has been around for ages and is probably the most universal means of long term and reliable investment, but there is a new company that wants to change the way people think about Gold and use it. Sure you can buy Gold with Bitcoin or cash and have it delivered to you and you can then sell the Gold you own physically, but that is not so easy and convenient. This is exactly what BitGold is trying to change by offering an easy way to acquire Gold and to spend it for everyday payments or store it as an investment and you can also request to have it sent to you in a physical form. The company is providing users with a secure vault account to purchase and hold Gold, the ability to make and receive instant Gold payments, and a debit card for spending Gold at traditional points of sale. All of the Gold you own is also fully redeemable as 1kg Bullion Bars or 10g GoldCubes at any time, so you always have the traditional old way of long term investment.
The idea behind BitGold has a similar concept to that of Bitcoin and other digital currencies. The service however has nothing to do with Bitcoin directly, even though its name even includes Bit, there is no direct relation with Bitcoin, although you can already use Bitcoins to directly purchase Gold in the service and hopefully soon be able to also withdraw in BTC. This is just an example of how things like Bitcoin are already starting to affect the way things are and how new ideas that may not have anything to do with Bitcoin directly can turn out to be quite an interesting and attractive alternative choice for your digital payment needs. So if this sounds interesting to you, then you might want to check out the new service and turn some Bitcoins into Gold, you can quickly and easily register and it is free and not to mention that you will also get some bonus Gold deposited in your account after finishing the registration successfully.
– For more details about the new Gold-centered digital payments service BitGold…
- Published in: General Info
- Related tags: aquire Gold, BitGold, BitGold DebitCard, buy gold with Bitcoin, buy gold with BTC, gold as payment, Gold Debit Card, Gold payments, Gold-backed debit card, instant Gold payments, spend Gold
A few days ago we have started using an interesting new service – HaoBTC interest-bearing multi-function Bitcoin wallet that offers users of the service 8% annual interest rate on their BTC stored in the online wallet with interest added every hour. The best thing is that there is no minimum amount and you can deposit and withdraw coins at any time with all of the interest accumulated so far. Here is an example of what you can expect to get, if you deposit 0.01 BTC for example with 8% annual interest rate after a year you will have 0.0108 BTC and the hourly interest rate you will be getting added to your balance is 9 satoshi. If your deposit is for 0.1 BTC then in a year with 8% annual interest you will have 0.108 BTC and each hour the interest rate will result in 91 satoshi added to your balance. For 1 BTC deposited in the wallet and 8% annual interest you will end up with 1.08 BTC in 1 year and every hour 913 satoshi should be added to your balance. What the service does in order to pay its users the interest is to invest Bitcoin into their big mining farm that generates new BTC to pay back users. Up until recently the service was focused on the Asian market, but recently they started getting active for the rest of the world as well and they have provided photos as a proof of their mining operation.
Aside from the simpler 8% interest rate with no minimum amount or fixed period HaoBTC introduced a new more profitable Financing option. You can deposit Bitcoins for a fixed term and get higher interest rate than the standard 8% Banking option they offer, however there are some requirements here. The more profitable interest rate can go up to 15.58% for 1 year if you keep your coins there, with the minimum of 1 month that will get you 12% annual interest rate. This new option works pretty much the same way as a Bank deposit for a fixed period of time, but with a higher interest rate for your Bitcoins. In order to take advantage of this more profitable interest rate, a rate that can go almost double than the standard one, you will need have to at least 10 BTC in your account and the longer you keep them there, the higher the annual interest rate goes. You should still be able to withdraw the coins at any time, but you will loose the interest rate since the last successfully passed fixed period from the chart above. So if you withdraw them before the end of the first month you will not be getting any interest, but if you withdraw them after a month and a half your first month interest will be applied.
It is up to you and your BTC balance which of the two options is better for you, but you should be aware that the interest rate offered by the service is realistic and actually achievable. This is not some of the scam services that promise you 1-2-3-5-10% daily return on your investment that just want to steal your coins, such very high daily returns of investment sound like trouble, so stay away from them. On the other hand the 8% to ~16% yearly interest rate offered by this service is absolutely reasonable and possible to be achieved by using Bitcoin mining as a source for the income to pay for the interest. So go ahead and give the service a try with a small amount checking the standard option where you get 8% annual interest and the interest is being calculated and added to your balance every hour.
– To check out the HaoBTC online wallet service with 8%-15.58% annual Bitcoin interest rate…