I just received my very first Bitcoin into my wallet.
Given the current price of bitcoin you most likely are now thinking, "THOSE SUCKERS COST AROUND $4,000.00 USD APIECE!"
And you would be 100% correct.
Back in early August I installed a full BitCoin Node on a test machine someone let me use: A desktop-tower 16-Gb Intel Multi-Core-i5 running at 3-Ghz with a 1-Tb Hard drive.
So it is plenty big enough to host the entire block-chain and keep up with it. The initial update took a couple of days though. Now when I crank it up it only takes an hour or two to 'catch-up' with the block chain. Which by the way uses around 145-Gb of disk space.
So, you may ask; "Just where do find $4,000.00 laying around to purchase a Bitcoin."
And the answer is: "I do NOT have that kind of money just to play around with!"
Here is the punch line: When you install the full node from bitcoin.org you ALSO get installed the same app but configured to work with a block-chain called "testnet" which is exactly like the normal bitcoin block-chain except it is for development and test use and the coins in the block-chain have zero value.
And if anyone on the planet is ever seen trying to sell a bitcoin from that block chain the entire block chain is reset and all the bitcoins are GONE!. Also the blocks look like random strings when you attempt to send/receive testnet Bitcoin to a wallet that is connected to the real block-chain.
So the next step is to send all/part of it to another wallet.
And the next question you may ask is: "And just where do you get free bitcoins?"
Well the answer is: "You turn on 'The Faucet' and a bitcoin just comes right out! Duh!"
Well sort of: You have to find a faucet first and if that faucet is connected to testnet then 1.8 Bitcoin comes out.
And if that faucet is connected to the real block-chain then about 0.000001 Bitcoin comes out.
(I may not have enough zeros there but you would need a gazillion of those to come up with one penny in USD.)
See the screenshot below:
|This is what a BitCoin Looks Like|