Tag Archives: bitcoin

A New Cryptocurrency – BitcoinPoS – Bitcoin Proof of Stake

Chicago, IL, 2020-Jun-1 — /REAL TIME PRESS RELEASE/ — Investing in Bitcoin (BTC) is now expensive, and getting your own through mining is nearly impossible for the average person. However, a new opportunity can be found in Bitcoin Proof of Stake.

BitcoinPoS: The Best of Bitcoin and PoS
Bitcoin Proof of Stake (BTP) was created by a team of developers that recognized the capabilities of the Bitcoin code and sought to improve them. They did this by replacing Bitcoin’s Proof of Work consensus protocol with Proof of Stake, resulting in a new and improved coin called BTP.

Proof of Work has proven that it is a less efficient protocol when compared to PoS, as it moves slower, cannot be easily scaled, and can favor centralization.

To improve upon the unique features of the Bitcoin code, the developers introduced Proof of Stake, thus creating a new coin, BTP, which challenges the boundaries of crypto functionality. If the Bitcoin core goes through an update, then BitcoinPoS will be immediately updated to include the new alterations.

The BitcoinPoS network can create no more than 21 million BTP. The new coins are generated not by mining, but through staking. The supply of BTP is managed from its protocol, which cuts the block reward once every 4 years by 25% every 700k blocks. BTC decreases with 50% of the reward every 4 years.

BitcoinPoS and Its Advantages

Pro-Decentralization Design
Mining is an energy-intensive process, as miners compete to be the first to solve the complex mathematical equations in order to get the block reward. In a Proof of Stake network, the stakers, or validators, can get new coins by keeping a number of BTP in an active wallet.

Due to its design, staking does not demand energy in high quantities, like in PoW systems. Most Bitcoin mining operations are now controlled by big companies, as only they have the capital to invest in many performant mining rigs. This leaves out regular people who cannot afford mining hardware, and thus the hashrate of the network becomes centralized, limited to only a few big mining farms. But with BTP, all users can stake coins, therefore, encouraging participation from more people and distribution of power throughout the network.

Resilience Against 51% Attacks
Centralization in PoW-based coins is an issue, as it leaves the network susceptible to a 51% attack, where one entity takes hold of 51% of the network hashrate. This person then has absolute power over the network and can manipulate transactions and block creation.

BitcoinPoS is resistant to 51% attacks, as the PoS protocol was designed to promote decentralization. BTP also uses a variation of the Proof of Stake model known as Mutualized Proof of Stake consensus, which is almost impossible to breach by an attacker, as it requires a lot of resources.

99% Reduction in Power Consumption
A PoS system does not need users to solve complex algorithms that are energy-consuming. This allows staking to be a more economical process of generating new BTP, using 99% less than Bitcoin mining.

Friendly to the Environment
All PoW mining operations are taxing on the environment because of its high energy consumption. Bitcoin PoS can function and issue new coins without the need for mining farms, and thus it is more eco-friendly.

Universally Accessible to Users
Setting up and managing a mining rig to mine Bitcoin is a big investment that not many people can afford. BTPs can be easily staked by all people, as a laptop or a personal computer is powerful enough to be used in staking.

Bitcoin Proof of Stake (BTP) allows all types of users to easily invest in a more efficient version of Bitcoin that carries with it all the perks of a PoS model.

Logo:

BitcoinPoS logo

First Ever Bitcoin For Kids Book Series Launched With Bitcoin Giveaway Contest

Ponn Sabra and her three daughters release a four-book “Bitcoin for Kids” book series about the digital currency and giving away 0.25* Bitcoin (approx. $87). By making Bitcoin easy and fun to use, they hope to motivate kids and moms to try it out, further pushing Bitcoin to the mainstream.

Los Angeles, CA, November 15, 2013 – Best-selling authors and bloggers Ponn, JuJu (13), GiGi (12) and JoJo (10) Sabra today announce the “Bitcoin for Kids” Series to motivate moms and kids to use Bitcoin. Bitcoin is ideal for kids. The digital currency can be sent by anyone of any age, in any amount, to anywhere in the world, anytime of the day or night. Using Bitcoin is as easy as sending an email or SMS/text message.

Bitcoin has been maligned and celebrated in recent news. The story of a man from Norway who bought $27 in Bitcoin four years ago that is worth over $850,000 today captured a lot of positive attention. The Sabra’s hope stories like this and those in their books will help build more awareness and interest in Bitcoin. “We want to help make Bitcoin more mainstream by showing families how easy and fun it is to use,” said Ponn Sabra.

The Sabra’s created the website bitkidz.com, the first to teach Kids about Bitcoin. “We created the first Bitcoin-for-kids website, the only Bitcoin forum for kids, and our book series will be used to teach kids in the classroom and online,” said Ponn Sabra. The Introductory book features the first published case study of kids using Bitcoin.

The Bitcoin for Kids book series includes:

* Bitcoin for Kids Primer: Kids Making Money Online – 12 Inspirational Stories That Will Motivate You To Action!

* Bitcoin for Kids Book 1: Putting Money In Kids’ Hands Today For A Better Tomorrow – No Need For Virtual Worlds and Make-Believe Money

* Bitcoin for Kids Book 2: How To Earn, Save, Spend and Share Bitcoin – Easy, Fast and Fun Step-by-Step Tutorials

* Bitcoin for Kids Book 3: Wise Words From the World’s Best Bitcoiners – Bitcoin Breaks The Boundaries Of Age And Much More

The books can be purchased with Bitcoin (or with fiat currency through Amazon) and a link for the FREE Primer can be found at bitkidz.com/bitcoinforkids

In the process of educating kids, they also hope to counter common myths about Bitcoin. “People stay away from Bitcoin because they either believe it’s too volatile, attracts criminals, or, they think Bitcoin is so high-tech that the average person won’t be able to understand it.” said Sabra. “While there’s some truth to those extreme statements, by writing a book series by kids for kids we’re demonstrating that if kids understand Bitcoin, so can others!”

Bitcoin* Giveaway Contest

The Sabra’s are hosting a Bitcoin Giveaway Contest during the first week of the book series release, November 13 – 19, 2013. The Grand Prize will be 0.25* BTC and a digital copy of The “Bitcoin For Kids Trilogy” ($7.97 value). To encourage families to have fun watching the Bitcoin market value, the *Grand Prize will be based on November 19th’s average rate to be no less than $70 or the full amount of 0.25 BTC transferred to the winner’s Bitcoin wallet. Current rate: $87. Enter to Win at bitkidz.com/bitcoingiveaway

Generous bitcoiners are welcomed to donate to increase the 0.25* BTC Grand Prize at Bitcoin address: 18FU644xiZ7TAEhVGKPDEhmuYvgnmNiPge

Second Prize: $50 gift card from Gyft.com

Why use Bitcoin? The Sabra’s say because it is digital, practical, cheaper, safer, more secure and global. “Kids and moms need to learn how to use it now! The sooner the better, and the more lucrative because the value keeps climbing. There is opportunity in being an early adopter.”

Even if Bitcoin drops in value, the Sabra’s think there are lessons. “The math behind it is amazing! Bitcoin helps kids learn economics, international finance, money markets (watching values go up and down), budgeting, spending versus saving, computers, technology, the Internet and much more. These crucial life lessons are often not taught in school or home today. My girls’ lives have forever changed since Bitcoin was introduced to us, and we want to impart this excitement to other families as well.”

The Bitcoin for Kids series was recently selected as curriculum at The Bitcoin Academy and the Bitcoin Bootcamp after school program. The Sabra’s, currently traveling overseas, conducted months of research and interviewed kids already using Bitcoin for the Primer. In their research, they found kids who have made significant returns using Bitcoin. The most interesting point shared by each kid was that Bitcoin has changed their lives.

The Sabra’s are available for interviews via Skype, Google-Hangout, or email.

10% of proceeds from BitKidz.com and the “Bitcion for Kids” book series will be donated to SeansOutpost.com (5%) and TheBitcoinAcademy.com (5%). An additional 5% during the month of November 2013 will to donated to the Philippines Typhoon victims via World Food Program.

About Ponn Sabra and the Sabra Sisters

“Bitcoin for Kids” was written by bestselling authors Ponn Sabra and The Sabra Sisters SabraSisters.com – JuJu (b. 2000), GiGi (b. 2001), and JoJo (b. 2003). The Sabra Sisters are three bestselling tween authors making learning fun through books and blogs. As world-traveling homeschoolers who love to learn, they started blogging in 2008 to improve their writing skills by publishing tips and tutorials. Since 2010, they’ve been making money online as professional bloggers, website designers, and infoproduct developers. Presently, they are bestselling authors to ten kid kindle ebooks, own eight blogs, and now avid Bitcoiners at BitKidz.com and http://BitMomz.com

Contact:
Ponn Sabra
Ponn International
Los Angeles, CA
203-599-0305
ponn@makinghistoryfun.com
http://makinghistoryfun.com

Varsity Tutors Partners with Coinbase to Accept Bitcoin for Tutoring Services

New Currency Allows More Convenience, Fewer Fees for International Students & Their Families

St. Louis, MO, April 25, 2013 – Varsity Tutors, a premier private academic tutoring and test prep provider, today announced that it is now accepting Bitcoin as a form of payment for its in-person and live-online tutoring services. While all clients will be able to pay using Bitcoin, the company anticipates that the greatest demand will be from students located abroad who purchase Skype-tutoring. Previously, international students seeking Varsity Tutors’ services, most often for language tutoring or SAT, GMAT, LSAT and MCAT test prep, could only process payment by credit card or bank transfer which assess foreign transaction fees. The addition of Bitcoin to its payment options will allow those who have adopted the digital currency to avoid traditional currency conversion costs.

“At Varsity Tutors, we’re constantly seeking out ways to better serve our clients, so if digital currency can make it easier for international students to access our tutoring services, it seems only natural to embrace it,” said Chuck Cohn, founder and CEO of Varsity Tutors. “Logistically, the process of integrating Bitcoin into our payment structure was very easy, and any simple change that can improve the client experience is a no-brainer.”

Varsity Tutors is accepting Bitcoin payment through Coinbase. A believer in the currency and technology, Cohn actually began investing in Bitcoin and the payment service last year. “As an entrepreneur, I’m a strong supporter of efficient and innovative technologies, so I’m very interested in the potential of digital currency not only in my business, but in the larger marketplace,” said Cohn.

Varsity Tutors provides in-home academic tutoring and test prep services in 19 major U.S. metro areas, as well as online via Skype. Students are expertly matched with a private tutor who delivers personalized, one-on-one instruction in any subject from STEM to the humanities, as well as preparation for standardized exams at all levels of education from K-12 to graduate school.

For more information about Varsity Tutors and its services, visit www.varsitytutors.com.

About Varsity Tutors
Varsity Tutors is a premier private academic tutoring and test prep provider designed to help students at all levels of education achieve academic excellence. Varsity Tutors delivers in-home, personalized, one-on-one instruction in any subject from STEM to the humanities and customized preparation for all standardized exams, including ISEE, SSAT, SAT, ACT and graduate exams such as the GRE, LSAT, MCAT and GMAT. Students from elementary to graduate school are expertly matched with an exceptional tutor who is best able to address their unique needs and goals. To ensure satisfaction and safety, only the highest caliber tutors are selected to join Varsity Tutors following a rigorous screening process. Varsity Tutors currently serves 19 major metro areas nationwide and offers a variety of tutoring packages. Students and their families interested in learning more about Varsity Tutors should visit www.varsitytutors.com. 

Contact:
Lindsey (Mikal) Read
CSG PR
3225 East 2nd Avenue
Denver, CO 80206
937 408 9321
lread@csg-pr.com
http://www.csg-pr.com