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How To Get Free Bitcoin
Most people do ask this question on how to get free bitcoin Few things in life are as attractive as free money. For that reason, few things trigger as many alarms as the promise of free money! After all, if something sounds too good to be true, it probably is … Right?
We usually do not post such messages, but in this case, the free money offer has been tested by our team to be genuine and safe! The quantities that are offered are also worth your time, assuming you have a good amount of bitcoins.
With Method 1 (Byteball), you can make for about $ 50 for each complete bitcoin you own. With Method 2 (Clams), you can make about $ 32 for each active Bitcoin, Litecoin or Dogecoin address that you owned before May 13, 2014.
Note: The amounts mentioned above depend on the current value of Byteball ($ 800) and Clams ($ 6.90), so your exact reward will vary over time … In either case, you can keep your altcoins for free or convert them instantly to Bitcoin , Other altcoin, or fiat.
Does this still sound too good to be true? Well, there are a couple of minor strings attached:
1) Some manageable risk of isolation, we will show you how to mitigate, and
2) Perform a pair of moderately advanced wallet functions, which will guide you in detail.
Why do projects offer free money?
Because bootstrapping is the most difficult part of launching any new cryptoconversion, successful coin distribution to new users is critical. If no one is using a new currency, then it does not matter if you have a surprisingly innovative technology, expert developers, or a passionate community.
Metcalfe’s law states that the value of a (telecommunications) network is proportional to the square of its users, and this law is equally applicable to cryptography.
It is clear in the diagram above that the busiest network is the most useful, therefore, the most valuable and most likely to attract more and more users in a positive feedback loop. As the altcoin market is beyond saturated – 756 and counting – the competition for users is incredibly fierce …
Hopefully it’s beginning to make sense why certain coins are just given away – and their “too good to be true” alarm is fading!
As a distribution method, giving quantities of a new currency to Bitcoin holders – individuals with a proven interest in cryptocurrence – is perhaps the safest way to build an initial user base. If the new currency also offers (in terms of technology, economy, interest and so on), you have a great opportunity to get the initial traction needed to outperform your competitors.
How to get free Bitcoin with Byteball
Byteball (GBYTE) was launched in September 2016 and is notable for not using a locked chain to sort transactions, but rather a Directed Acyclic Diagram (DAG). If you have ever extracted Ethereum you may be familiar with this term. In fact, Byteball is sometimes touted as the Ethereum-killer, as it offers lightweight peer-to-peer smart contracts. These contracts allow for conditional payments, prediction markets, insurance, betting, and various robot-operated markets within the standard client. Byteball also provides an invisible coin asset, known as Blackbytes.
Method # 1 – Byteball Offer
Each full moon, you will get free bytes and black bytes for each complete bitcoin on which you can test the property – fractions do not count. The next fall will occur around 4:07 AM (UTC) on July 9, 2017. Each bitcoin will earn you 0.0625 bytes (currently worth around $ 50) and 0.132 bytes black (currently worth around $ 2.50).
These Byte drops will continue until 2017 and perhaps until 2018, until all GBYTE is awarded. Approximately 25% has been distributed so far, so this is a medium term, repeat opportunity!
Mind you below is one of the methods on how to get free bitcoin.
How to claim your bytes
Step 1 – Installing Wallet
Download and install the correct Byteball wallet for your system. All major platforms, including mobile, are supported. Choose the light / fast portfolio if requested. If you run on a 32-bit version of Windows, you can try this 32-bit trial version of the Byteball client software.
Step 2 – Initialize the Bot
After installation, open the wallet and click on this link on the Byteball Portfolio page:
This will add the “Transition Bot” to your Byteball wallet. This bot handles assigning new bytes and black bytes to your portfolio, based on your bitcoin properties (as well as any existing bytes or blackbyte properties – we’ll cover this later).
Step 3 – Talk to the Bot
An initial address is Automatically created by your portfolio. Now it’s time to talk to the bot! Step 4 – Link the Bot with your receive address Now an interaction with the bot starts. The first step, as the bot explains, is to give the robot its Byteball address. This address was automatically generated and named by your portfolio previously. Click on the bubble from the ellipses next to the text entry bar and then select “Insert my address …” Step 5 – Prepare to sign for your addresses BitcoinThe robot then requests a small payment from Bitcoin to a Bitcoin address Controlled by Byteball.
Step 4 – Link the Bot with your receive address
An interaction with the bot is now initiated. The first step, as the bot explains, is to give the robot its Byteball address. This address was automatically generated and named by your portfolio previously. Click the bubble from the ellipses next to the text input bar and then select “Insert my address …”
Step 5 – Prepare to sign for your Bitcoin addresses
The robot requests a small payment from Bitcoin to a Bitcoin address controlled by the Byteball team. While this is a viable method to test property, there is another method that is faster and free of signature messages.
At this point, familiarity with the functions and features of your Bitcoin portfolio will be extremely helpful. As there are many Bitcoin wallets available, it is impossible for this guide to cover all of them. We demonstrate how to sign for an address using the complete Bitcoin Core portfolio and the Electrum light portfolio. If you use a different Bitcoin wallet, consult your documentation for help on the next 3 steps …
Step 6 – Show address balances
In order to know which directions to give the bot and sign, it is necessary to examine all the addresses contained in their Bitcoin wallet addresses. Please note that so-called change addresses can not be displayed by default in your wallet.
Unless all of Bitcoin’s payments have been received by a single address (which is not recommended for privacy reasons), your portfolio balance will consist of amounts held in multiple directions under the control of your portfolio.
It is necessary to inform the Transition bot of all addresses containing a significant amount of Bitcoin. These amounts will be added by the bot to determine how many black bytes and bytes are eligible to receive.
You can display all kernel addresses that have value by opening the console and entering the listunspent command:
Core will display non-empty addresses and their values. Note the addresses that contain funds (copying and pasting the information into a text file is the easiest way). This list is especially useful for finding change addresses that are not automatically listed in the main folder in step 8.
You can now see all the addresses that contain your bitcoins, not just the receiving addresses that your wallet regularly displays. We are under the hood of your Bitcoin wallet here; Understanding how address change works will help you improve your privacy in the future.
Step 7 (Optional) – Consolidating Multiple Bitcoin Addresses
Combining multiple addresses in a single address can save a lot of time, depending on the number of addresses you want to sign. It takes about a minute to complete the signing process for each address, so decide accordingly.
To consolidate your addresses, simply send all your bitcoins to an address under your control. This must be a new or existing receiving address within a portfolio you own.
Caution: Perform this step well in advance of the next drop in bytes – at least a week before to be on the safe side. If your consolidation transaction is not confirmed at the time of the fall, the opportunity will be lost. Expect a quiet period in Bitcoin network activity – these usually happen on weekends – and check out our guide for information on how to set an appropriate rate.
Step 8: Sign text messages with your Bitcoin wallet
The same private key used to authorize payments from a Bitcoin address can also be used to create a non-forgeable cryptographic test that links that text to that particular address. This process is known as signature and is completely secure. See the next section, “A Note on Signing Security Concerns.”
Unfortunately, some personal portfolios and most exchange portfolios do not have signature functionality. If your wallet does not support signing, you will need to send the suggested micropayment to the Bitcoin wallet of the Transition Bot or transfer your bitcoins to a wallet that supports the signature.
This message in the BitcoinTalk forum, although somewhat dated, provides a lot of useful information about which folders support the signature, as well as how to sign with them. Here’s how the process works, in 3 easy steps:
1) This first step requires a bit of copying and pasting addresses between your Bitcoin bytes and wallets.
The Byteball bot asks for a Bitcoin address. Give him one containing BTC. The robot will ask you to sign your automatically generated Byteball address, using the Bitcoin address provided.
2) Here’s how to sign your address
Byteball using your address (es) Bitcoin: Bitcoin Core: Select the “File” menu and then the “Sign Message …” tool. For Part 1, click the left button to select from a list (Listunspent reveals that they contain funds). When you click the right button it will paste any change direction that you have copied from. The listunspent command is executed in the portfolio console (step 6) .Electrum: Select the menu “Tools” and then the “Sign / Verify message” option. Retrieve the relevant address.
Step 9 – Give the bot your signed message
Get the signed message and paste it into the Byteball Transition Bot. If all goes well, the bot will let you know:
If you were using a consolidated Bitcoin address, the process is now complete! If not, repeat steps 6 through 9 until you have signed your Byteball address with all Bitcoin addresses that contain the value.
Step 10 – Check Your Total Byteball Pitch and Blackball
Visit this website and paste your Byteball address into the field provided. Within minutes of completing the signing procedure, it will display the total number of black bytes and bytes that you can expect to receive in your Byteball portfolio when the drop occurs.
Multiply your number of complete bitcoins by the expected byte reward and compare the result by the total displayed by the website. If the website shows less than expected, it can only mean that you have forgotten to sign for one or more addresses. Note that there is no benefit to include the amount of address that will not bring your total over (whole) BTC.
I have the coins! Should I sell or should I wait?
Once you have your GBYTE free, you must decide whether to keep it or sell it. Below are some points that can help you decide!
Reasons to keep
The pattern so far has been that Byte price drops in the fall as a percentage of newly awarded coins are sold instantly, but then recovers shortly thereafter. This implies that the price will continue to rise, at least until the final coins are awarded.
The GBYTE withholding on your linked portfolio makes you eligible for a 20% bonus on the amount you will receive (based on your linked bitcoins) in the next round of distribution. A similar bonus also applies to any blackbytes you have.
Byteball has not yet been included in the main altcoin exchange, Poloniex. A price spike can be anticipated when (or if) it appears there, or in any other large exchange.
Byteball’s DAG technology is promising … Smooth scaling, easy smart contracts and fast transactions are implicit. Check the website and white paper for more details.
The Byteball distribution method and the relative lack of promotional advertising suggest a serious project oriented towards long-term success, rather than short-term success. This would represent something like a welcome exception in the altcoin space.
Reasons to Sell
If you really need bitcoins or fiat in a hurry, then it is better to sell bytes of a kidney!
The Byteball code has not been subject to any intensive peer review. It could contain bugs or secret exploits that damage the system.
The concept of DAG, supported by the nodes of Witness, has also been revised and challenged by cryptoconversion experts. There is the possibility of a misaligned incentive structure or unknown attacks that could damage or even break Byteball’s security model.
The real-world resilience of Byteball to a persistent bifurcation – or even multiple simultaneous bifurcations – has yet to be established.
It is up to the person to weigh the above points and come to a decision. Good luck!
A note about safety concerns
It occurred to this author that, if the Byteball portfolio was a particularly malicious piece of malware, it could trick users into providing signatures that could be used to authorize transactions of Bitcoin portfolios of users. However, this concern can safely be ruled out for the following reasons:
1) Six-byte distributions have been completed so far, with no reports of such malicious activity.
2) The Byteball portfolio generates the text to be signed (specifically, your Byteball address) before requesting any signature from your Bitcoin portfolio. There would have to be very sophisticated software to know which of the
3) The following conversation with the developer of Bitcoin Core, Gregory Maxwell, confirming that the preventions against this signature attack have been implemented in Bitcoin:
HeySteve: Is it possible to construct a message to be signed by a bitcoin address, such that the signed message could also be a signature used to authorize a transaction?
Gmaxwell: If by “signed by a bitcoin address” refers to standard signmessage functionality, then the answer is No because we have constructed very carefully signmessage so it could never be possible.
What transactions are signing is sha2 (sha2 (masked transaction)) and which sign is sha2 (‘Bitcoin signed message:’ || message)
(I may be slightly wrong about the exact chain.)
A note about privacy concerns
If you follow the above procedure, the Byteball developer and any person with whom you share the information (willingly or otherwise) may associate your IP address with all Bitcoin addresses for which you signed. In addition, it would be possible for other addresses of your property to associate with your linked addresses.
You can mitigate these problems immediately after the fall occurs the anonymity of your bitcoins.
Method # 2 – Offering CLAMs
Clams / Clamcoin (CLAM) is a Stake Probability Crypt launched in May 2014. Through the process known as “digging”, CLAMs are freely distributed to the historic owners of Bitcoin, Litecoin and Dogecoin. All addresses of significant value, created before May 12, 2014, are eligible for excavation.
In other words, you can only claim free CLAMs if:
You have a BTC, LTC or DOGE (backup) portfolio as of May 2014 or earlier, and
The address contained value (s) above “dust”, or the standard transaction rate at that time.
You will receive 4.6 CLAM for each appropriate address! As the value of the clams has varied between $ 5 and $ 7 in the afternoon, this can add up to a considerable unexpected gain! Unfortunately, it is difficult to calculate your expected CLAM reward in advance. However, if you were an active user of Bitcoin in mid-2014 and were familiar with wallet management procedures, then digging for clams will probably prove useful!
Mind you below is one of the methods on how to get free bitcoin.
How to claim your clams
Step 1 – Installing Wallet
Visit the Clams Client website to download and install the appropriate graphics client for your system.
Step 2 (Optional) – Download Blockchain Bootstrap File
Synchronizing your Clam wallet with the current version of the block string can take a long time, especially if you have a slow Internet connection. To speed up the process, download this 1.5 GB block bootstrap as a file or torrent. Place this file in the same folder as your Clams wallet.dat file – use the search function of your operating system to locate this folder or view this wiki page (replace “Bitcoin” with “Clam”).
This optional step allows the Clam client to synchronize primarily with your hard drive, rather than the Internet. More details on this process can be seen here.
Step 3 – Prepare your Bitcoin, Litecoin or Dogecoin wallet to dig
Unlike the Byteball process described above, clams do not accept address signatures – it requires their sacred private keys! As sharing the private key with an address allows spending of the funds contained in it, it is highly recommended that all funds be transferred to a new portfolio before performing this process.
Although the founder of Clam, dooglus, has been a respected member of the Bitcoin community since at least January 2011 and there have been no reports so far of any misconduct by Clams’ wallets … However, sharing the keys (Even with Satoshi Nakomoto) It is the most dangerous action that any cryptoconversion user can perform, similar to sharing login details of your online bank account.
That is why we strongly recommend first transferring each and every one of the funds within the “excavation portfolio” to a new portfolio. This would be a great excuse to invest in the security of your crypto-cunning assets by purchasing a hardware portfolio if you have not already received one. Hardware portfolios require the generation of a new portfolio in order to securely store your funds.
If you have been delaying the purchase of a hardware portfolio due to its cost, consider clams as a way to get one with a discount – or even free!
There is no time limit on the distribution of Clams, so you have enough time to research the best choice of a new portfolio. If you prefer your existing portfolio, you can create an additional portfolio within the same software – Electrum offers this functionality, for example.
Whatever your decision, whether by getting a hardware portfolio or by creating another software portfolio, make sure your new portfolio is properly set up and protected before importing all the funds from the old push portfolio. Remember to make a backup of your new wallet.dat file or cryptographic seeds, in addition to setting and backing up a password.
Once your old wallet is empty – and remember to redirect outstanding payments to an address inside your new wallet! – it is safe to proceed with the next step.
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