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⚡ Lightning Network Megathread ⚡
Lastupdated2018-01-29 This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information. There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!
Lightning Network White Paper - The protocol has changed since this original paper, but covers the mid-level mechanics of the Lightning Network with an emphasis on the smart contracts that make it trustless
If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily, Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above. All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-) For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user. Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
how to shibecoin v rich in minutes much instruct so simple any doge can do
UPDATE 1/21/14: I'm not updating this guide anymore. Most of the steps should still work though. See the wiki or check the sidebar for updated instructions. Before you do anything else, you need to get a wallet. Until there's a secure online wallet, this means you need to download the dogecoin client. Now open the client you just downloaded. You'll be given a default address automatically, and it should connect to peers and start downloading the dogechain (aka blockchain in formal speak). You'll know because there will be a progress bar at the bottom and at the lower right there should be a signal strength icon (TODO: add screenshots). If you've waited 2 or 3 minutes and nothing is happening, copy this:
And paste it into a new text file called dogecoin.conf, which you then place into the dogecoin app directory.
On Windows this is C:\Users\[YOUR_USER]\AppData\Roaming\DogeCoin
On Macs it's ~/Library/Application Support/DogeCoin
Now restart your qt client and the blockchain should start downloading in about 1-2 minutes. Once it finished downloading, you're ready to send and receive Dogecoins!
Decide how you want to get Dogecoin. Your options are:
I'll go into detail about each of these. I'm currently writing this out. I'll make edits as I add sections. Suggestions are welcome.
Mining is how new dogecoins are created. If you're new to crypto currencies, read this. To mine (also called "digging"), a computer with a decent GPU (graphics card) is recommended. You can also mine with your CPU, but it's not as efficient.
These instructions cover only Windows for now. To mine, you'll need to figure out what GPU you have. It'll be either AMD/ATI or Nvidia. The setup for both is approximately the same.
Step One: Choose a pool
There's a list of pools on the wiki. For now it doesn't really matter which one you choose. You can easily switch later. NOTE: Youcanmineintwoways.Solominingiswhereyouminebyyourself.Whenyoufindablockyougetallthereward.Poolminingiswhenyouteamupwithotherminerstoworkonthesameblocktogether.Thismakesitmorelikelythatyou'llfindablock,butyouwon'tgetallofit,you'llhavetosplititupwithothersaccordingtoyourshareofthework.Poolminingisrecommendedbecauseitgivesyoufrequentpayouts,becauseyoufindmoreblocks.Thelargerthepoolyoujoin,themorefrequentthepayouts,butthesmallertherewardyouget. Overalongperiodoftimethedifferencebetweenpoolandsolomininggoesaway,butifyousolomineitmightbemonthsbeforeyougetanycoins.
Step two: Set up pool account
The pool you chose should have a getting started page. Read it and follow the instructions. Instructions vary but the general idea is:
Create an account
Create a worker under the account
Grab the mining URL (usually on the getting started page)
Setup your cash out options in your account settings by entering one of your wallet's receiving addresses
When you're done with this, you'll need to know:
Your account, worker name, and worker password
The mining (stratum) URL (usually the pool's URL followed by a port)
Step three: Download mining software
For best performance you'll need the right mining software.
Create a text file in the same folder as your miner application. Inside, put the command you'll be running (remove brackets). For AMD it's cgminer.exe --scrypt -o stratum+tcp://: -u -p For Nvidia it's cudaminer.exe -o stratum+tcp://: -O : Substitute the right stuff in for the placeholders. Then on the next line of the text file type pause. This will let you see any errors that you get. Then save the file with any name you want, as long as the file extension is .bat. For example mine_serverName.bat.
Step five: Launch your miner
Just open the .bat file and a command line window should pop up, letting you know that the miner is starting. Once it starts, it should print out your hash rate. If you now go to the pool website, the dashboard should start showing your hashrate. At first it'll be lower than what it says in the miner, but that's because the dashboard is taking a 5 minute average. It'll catch up soon enough. NOTE: Anormalhashrateisbetween50Kh/suptoeven1Mh/sdependingonyourGPU.
You're now mining Dogecoins
That's it, nothing more to it.
CPU mining isn't really recommended, because you'll be spending a lot on more on power than you'd make from mining Dogecoin. You could better spend that money on buying Dogecoin by trading. But if you have free electricity and want to try it out, check out this informative forum post.
Trading has been difficult so far, but Dogecoin just got added to a few new exchanges. If you don't have a giant mining rig, this is probably the best way to get 100k or more dogecoins at the moment. I'll write up a more complete guide, but for now check out these sites:
Faucets are sites that give out free coins. Usually a site will give out somewhere between 1 and 100 Dogecoin. Every site has its own time limits, but usually you can only receive coins once every few hours, or in some cases, days. It's a great way to get started. All you do is copy your address from the receive section of your wallet and enter it on some faucet sites. Check out /dogecoinfaucets for more. If you go to each site on there you might end up with a couple hundred Dogecoin!
This method is pretty straightforward. Post your receiving address, and ask for some coins. Such poor shibe. The only catch is, don't do it here! Please go to /dogecoinbeg.
Other redditors can give you Dogecoin by summoning the tip bot, something like this: +dogetipbot 5 doge This might happen if you make a good post, or someone just wants to give out some coins. Once you receive a tip you have to accept it in a few days or else it'll get returned. Do this by following the instructions on the message you receive in your inbox. You reply to the bot with "+accept". Commands go in the message body. Once you do that, the bot will create a tipping address for you, and you can use the links in the message you receive to see your info, withdraw coins to your dogecoin-qt wallet, see your history, and a bunch of other stuff. As a bonus, so_doge_tip has a feature where you can get some Dogecoins to start with in exchange for how much karma you have. To do this, send the message "+redeem DOGE" to so_doge_tip. You'll need to create a tipping account if you don't have one. If you want to create a tipping account without ever being tipped first, message either of the bots with "+register" and an address will be created for you.
1/21/14 - Added note about this thread no longer being updated
1/21/14 - Changed wallet links to official site
12/27/13 - Added 1.3 wallet-qt links
12/21/13 - Added new windows 1.2 wallet link
12/20/13 - Fixed +redeem text
12/18/13 - Added short blurb on trading.
12/18/13 - Updated cudaminer to new version (cudaminer-2013-12-18.zip).
Hi everyone, I've been using Gridcoin for about 2.5 years and been crunching for 3! Here is how I got to where I am now: My story starts as a kid still in secondary school. At the time I was obsessed with computers, so much so that I decided to start teaching myself computer science at the age of 12 so that I could understand how the monster that my computer was worked. Also during this time was the slowly rising price of Bitcoin, I think I still have a screenshot on my phone of when it was around $500! I never knew of any alternate currencies at that time other than Ethereum until I was browsing the [email protected] forums and checking out my sick RAC when I found a currency called Gridcoin mentioned in one of the posts. Upon searching, I landed on the o' great and powerful www.gridcoin.us where I downloaded the wallet and took it for a spin. This was the very first time that I ever laid hands on a cryptocurrency (I was about 14-15 years old at the time) and it was quite a phenomenal journey. Unlike many others, I followed the instructions on the site and everything worked extremely well without issue and I was well on my way to utilising the blockchain for its full potential. I started out with a measly 20 GRC. This was back in the day when you could reasonably stake with that much. Sooner I started working my way up and found myself harbouring a small bank account of my own digital assets. By using Gridcoin I came to understand the fundamentals of a blockchain from an extremely early age, and this has enabled me to create presentations to teach others how cryptocurrency really works. I am extremely honored to have gained this knowledge from a project I so loved. I used to (and still to this day) crunch half on the pool and half solo. My first project was [email protected] which was soon followed by [email protected] which I ran on my mac using my school's electricity, then choosing GPUgrid while on the older GRC pool (http://gridcoin.co/) before exploring many other projects. You can still see how well I did on [email protected] back in the day just by looking at the proportions of credit: https://preview.redd.it/cefencxnh8r11.png?width=1014&format=png&auto=webp&s=c01fdf05466a3df7ab889089330f474cb561a655 Now, as you can see, I solo crunch Primegrid (with a success in finding a 388k digit prime!) along with Rosetta occasionally, SRBase (which is a horror when it comes to getting tasks before everyone else does) and DHEP which I am currently in a craze about. On my other machines crunching for the pool, I put all earnings into the GRC Wallet Bot that I own in order to give out as starter coins or to top-up the faucet. I crunch WCG (for those amazing GBYTE rewards) along with [email protected] and recently GPUgrid which nicely keep my faucet topped-up. Gridcoin and BOINC have done so much for me, even gone as far as to provide me with something to put on my resume, and I hope I can give as much back to the community too. You guys have been amazing and I hope to work with you a lot more in the future. <3
Free ReddCoin Giveaway! Celebrating 3,000+ subscribers & becoming the 4th largest Crypto Reddit Community all in a months time!
Hi fine gentlemen & ladies of /CryptoCurrency! /ReddCoin is giving away free ReddCoins to everybody here! Yesterday (3/11/14), /ReddCoin officially hit 3,000+ subscribers. This made /ReddCoin the 4th largest crypto Community on Reddit! As of 3/12/14 8:00 PM ET Time:
Best of all, /ReddCoin has only been open to the public for a little over a month opening on 2/2/14! To celebrate - We are giving away free ReddCoin to everybody here! Join in on the fun! For more information on ReddCoin:
ReddCoin Chat Faucet - "A chat faucet is a place where you get Reddcoin for chatting with other people."
ReddWallet - "We are creating an easy to use, web wallet for newcomers to Reddcoin. Users will be able to login with the social network authentication of their choice (Facebook, Twitter, LinkedIn, etc) and then be able to send/receive coins."
Reddslist - "Reddslist will be reddCoin's very own marketplace. The goal is to provide a safe, simple, and reliable platform to trade with anyone. Using your reddCoins will never be easier."
reddCoin-e - "The idea is to create a pure crypto exchange on a small scale with reddCoin being the main exchanged crypto."
ReddCoin Business Directory - "Have a reddcoin business? Accept Reddcoin? List it on the Reddcoin business directory where everything is neatly sorted out."
ReddTunes - "Sell or buy music for ReddCoins. You are required to have all rights to a song, you may not sell someone's elses song. Maybe turned into an entire market for virtual goods such as game codes, steam codes, etc."
ReddArcade - "Play in a arcade with vast variety of choices, but rather receiving tickets for playing, yep, you guessed it! Reddcoin!"
"Isn't ReddCoin pretty much a Doge clone?" - Nope. "Is ReddCoin Reddit's official coin?" - No. ReddCoin is not affiliated with Reddit. In related news, someone did create a RedditCoin & yishan (Reddit's CEO) threatened them with legal action. Edit: formatting
Want to help ReddCoin? Remember to be nice to newcomers!
Hi /ReddCoin! Want to help ReddCoin? Remember to be nice to newcomers. Look at the current road map. With PoSV growing out of its infant stages, with the Social Tip Platform coming in a few months, along with the Social X whitepaper, Android/iOS/web wallets, Social Broadcast, etc., there are going to be a lot of people lurking /ReddCoin. Some of them are going to be asking questions. A lot of these questions are going to be questions you already know the answer too, but you have to remember that newcomers will be asking these questions because they don't know the answer to them. Be nice to them. Don't tell them, "the search button is right there." Don't tell them, "search this sub, there's been a lot of posts about this already." Don't tell them anything like that. This is horrible customer service. ReddCoin can't be the Social Currency if its community isn't social. But I'm also a realistic person. It can get really tedious to type the same things over and over again. So what I've done is typed everything out for you already. I've preformatted the text as well. So if someone new asks a question that's in this thread, all you have to do is refer to this post (or refer them to this post in general), and then copy and paste the answer. All the formatting is already done for you, so it's that simple! Want to test it out? Copy and paste random entries below and enter in the comments below to see how easy it is! Feel free to change any grammer, words, etc. Tailor it the responses to your style! As long as people's questions get answered, :). Do you see a broken link, typo, or incorrect information? Want to add in another question and answer entry? Let me know! Tips will be given! Just Joined ReddCoin. What Do I Do Now? Copy and Paste:
Hello and welcome! First: 1. Have you seen ReddCoin's [Official Video](http://www.youtube.com/watch?v=KlYJ0sNVVpg)? 2. Have you downloaded yourself a [wallet](https://www.reddcoin.com/#Wallets)? 3. Have you gotten to know ReddCoin's algorithm, [Proof-of-Stake-Velocity (PoSV)](https://www.reddcoin.com/papers/PoSV.pdf)? This is an algorithm that is exclusive only to ReddCoin! 4. Have you visited ReddCoin's [Official Website](http://www.reddcoin.com) to see all the [great features](https://www.reddcoin.com/#Features) associated with ReddCoin? 5. Have you visited ReddCoin's [Official News Site](http://www.reddheads.com/) to read all the great articles written by fellow community members? 6. Have you watched all the awesome ReddCoin [related videos](http://www.youtube.com/usereddki/videos)? 7. Have you purchased some ReddCoins directly with Paypal on [WeSellRedd](http://www.wesellredd.com) or traded some BitCoins for ReddCoins on [Cryptsy](http://www.cryptsy.com)? If you've done all that already, then you're pretty much a ReddCoin veteran by now! Stick around and contribute to [/ReddCoin](http://www.reddit.com/ReddCoin)!
What is Proof-of-Stake-Velocity (PoSV)? Copy and Paste:
**What is Proof-of-Stake-Velocity (PoSV)?** Proof-of-Stake-Velocity (PoSV) is a brand new algorithm created by the ReddCoin Developer Team that is exclusive only to ReddCoin. It encourages both ownership (Stake) and activity (Velocity). PoSV hopes to solve many of the issues that traditional Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms currently suffer from. Here is more information regarding PoSV: * [White Paper](http://www.reddcoin.com/papers/PoSV.pdf) * [FAQ](http://www.reddcoin.com/papers/PoSV_FAQ.pdf) * [Guide](http://agroff.github.io/posv/)
Where Can I Get A ReddCoin Wallet? Copy and Paste:
**Where Can I Get A ReddCoin Wallet?** There are two types of ReddCoin [wallets](https://www.reddcoin.com/#Wallets): The standard QT wallet and the ReddCoin-exclusive [Social Wallet](http://www.reddcoin.com/news): QT Wallets (v126.96.36.199) | Social Wallets (v1.1.1) :--------:|:--------: [Windows](https://github.com/reddcoin-project/reddcoin/releases/download/v188.8.131.52/reddcoin-184.108.40.206-win.zip) | [Windows](https://github.com/reddcoin-project/reddcoin/releases/download/v220.127.116.11/reddwallet-1.1.1-win.zip) [Mac](https://github.com/reddcoin-project/reddcoin/releases/download/v18.104.22.168/reddcoin-22.214.171.124-mac.dmg) | [Mac](https://github.com/reddcoin-project/reddcoin/releases/download/v126.96.36.199/reddwallet-1.1.1-mac.dmg) [Linux](https://github.com/reddcoin-project/reddcoin/releases/download/v188.8.131.52/reddcoin-184.108.40.206-linux.tar.gz) | [Linux 32](https://github.com/reddcoin-project/reddcoin/releases/download/v220.127.116.11/reddwallet-1.1.1-linux32.tar.gz) [Source Code](https://github.com/reddcoin-project/reddcoin) | [Linux 64](https://github.com/reddcoin-project/reddcoin/releases/download/v18.104.22.168/reddwallet-1.1.1-linux64.tar.gz)
Where Can I Mine ReddCoin? Copy and Paste:
**Where Can I Mine ReddCoin?** ReddCoin can no longer be mined directly. ReddCoin switched its algorithm to [Proof-of-Stake-Velocity (PoSV)](http://www.reddcoin.com/papers/PoSV.pdf) and it can only be minted now, not mined. There are two ways to, "mine," ReddCoin: 1. Join a ReddCoin MultiPool such as [HashCows](https://hashco.ws/) that will mine other coins and exchange those coins for ReddCoins for you 2. Join a BitCoin MultiPool such as [WafflePool](http://wafflepool.com/) or [MultiPool.us](https://www.multipool.us/) and exchange your BitCoins for ReddCoins
Where Can I Buy More ReddCoins? Copy and Paste:
**Where Can I Buy More ReddCoins?** * Buy ReddCoins directly with PayPal on [WeSellRedd](http://www.wesellredd.com) * Purchase BitCoins on fiat exchanges such as [Coinbase](http://www.coinbase.com) and exchange those BitCoins for ReddCoins on crypto exchanges such as [Cryptsy](http://www.cryptsy.com)
How Can I Get More ReddCoins? Copy and Paste:
**How Can I Get More ReddCoins?** There are seven ways to get more ReddCoins: 1. Buy ReddCoins directly with PayPal on [WeSellRedd](http://www.wesellredd.com) 2. Purchase BitCoins on fiat exchanges such as [Coinbase](http://www.coinbase.com) and exchange those BitCoins for ReddCoins on crypto exchanges such as [Cryptsy](http://www.cryptsy.com) 3. Join a ReddCoin MultiPool such as [HashCows](https://hashco.ws/) 4. Join a BitCoin MultiPool such as [WafflePool](http://wafflepool.com/) or [MultiPool.us](https://www.multipool.us/) and exchange your BitCoins for ReddCoins 5. Visit all the ReddCoin faucets on [/ReddCoin](http://www.reddit.com/reddcoin)'s sidebar 6. Contribute on a social network with a current ReddCoin TipBot such as [Reddit](http://www.reddit.com/reddCoin/wiki/tipbot_reddit), [Twitter](http://www.reddit.com/reddCoin/wiki/tipbot_twitter), or [Twitch](http://www.reddit.com/reddCoin/wiki/tipbot_twitch) so other users can tip you ReddCoins 7. Sell your products or services for ReddCoins
How Exactly Do Tips Work? Copy and Paste:
**How Exactly Do Tips Work?** You load up the wallet associated with your intended tipbot with ReddCoins and then type in the appropriate commands to tip intended users. Here are the guides for the current tipbots: * [Reddit Tipbot](http://www.reddit.com/reddCoin/wiki/tipbot_reddit) * [Twitter Tipbot](http://www.reddit.com/reddCoin/wiki/tipbot_twitter) * [Twitch Tipbot](http://www.reddit.com/reddCoin/wiki/tipbot_twitch) There are also specific tip plugins for your browser: * [Google Chrome](http://goo.gl/vMu3gH) * [Mozilla Firefox](http://goo.gl/0lVTyZ) Here are the Special Tip Commands (you can label your tips as snacks, drinks, and other things!): * [Special Tip Commands](http://www.reddit.com/reddCoin/wiki/tipbot_special_commands)
How Do I Start Minting ReddCoins? Copy and Paste:
**How Do I Start Minting Coins?** 1. Download a ReddCoin [wallet](https://www.reddcoin.com/#Wallets) 2. Transfer your ReddCoins to your wallet 3. Unlock your wallet (Menu: Settings -> Unlock Wallet) 4. Leave your wallet online. You're done! **QT Wallet**: * On the bottom right corner of your wallet you will see a bunch of icons. An arrow inside a gray circle means not staking. An arrow inside a green circle means staking. If the arrow's inside a gray circle, unlocking your wallet should do the trick. If it is already green, then leave your wallet on and you're good to go! **Social Wallet**: * On the bottom left corner of your wallet, you will specifically see the text **Staking** or **Not Staking**. If it says Not Staking, unlocking your wallet will do the trick. If it says Staking, then leave your wallet on and you're good to go!
This is just a collection of recent questions/threads I helped answer in that inspired this post:
Welcome to the Florincoin subreddit! This thread holds important introductory info on the technology behind Florincoin, how to mine, and how it's used in the wild
FLORINCOIN Florincoin is the first cryptocurrency to implement the transaction-comment feature, also known as "tx-comment" and "the text comment field". Transaction comments can be used simply as a greeting, a means of communication, a permanent historical record of data, and in more complex cases it is as a basis for advanced peer-to-peer application layers. Florincoin was created by bitcointalk.org user skyangel on June 17, 2013. The hashing algorithm is scrypt, and its core code is a fork of the Litecoin project. The transaction comment capability is a major improvement upon existing crypto currencies, and this subreddit is a collection of ideas, information, and use-cases for this powerful blockchain technology called Florincoin. Official Website
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