A Bitcoin Honeypot

So this week, I’ve been collecting some links on cryptocurrencies, well BitCoin in particular. They’re an interesting collection, especially if you’re after learning something new. Check them out:

Some fantastic reading there. Check them out!

Speak to your clients

I had a great customer experience today. Yesterday, while playing with different Bitcoin websites I signed up for BTCJam, a P2P lending platform which uses Bitcoin as it’s main currency. It’s a pretty interesting site, where you can grow your Bitcoin investment with up to 19.3% APR, and borrow Bitcoin with rates as low as 6.7%. In case you’re wondering, the spread on those rates is based on the risk of your investment but it’s always great to see these platforms develop.

Anyway, back to my post. I signed up for the site yesterday and had already almost forgotten about it; when today, 24 hours after signing up, I get an email thanking me for signing up and asking how things were going. Granted, it was an automated email, but it prompted me to go back to the site, it impinged itself upon my consciousness and gave me the warm fuzzies needed to gel the memory of the site.

It reinforced how important it is to speak to our clients. I don’t think I’ve ever had a site check on me after I sign up. Definitely a technique I will keep in mind for the future!

My Ants are up and running #bitcoin

So, a few weeks ago I decided to get a couple of devices to experience Bitcoin mining and learn all about it. I decided on the Antminer S3 boxes which seem really power-efficient and powerful enough to mine at a decent rate. Here’s what they look like:

2014-08-05 13.14.47

They’re powered by a pair of 500W Corsair PSUs and are currently mining at around 450GH/s each, which I thought was pretty cool. Setting them up was relatively simple, all I needed was a couple of paperclips. There’s a full run-down on how to do it here: Antminer S3 Setup guide.

Setting up these machines has come quite a way since they came on the market, and this took around 5 minutes in total. I guess there’s a certain commoditization happening as there’s more and more demand to enter the business easily. I can’t help but thinking that the real winners here are the people selling kit. After all, it’s no great secret that in a gold rush the people selling shovels are usually the best off …