Sunday, September 03, 2017



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 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