Welcome to Megadumpload
Megadumpload is an information portal that teaches you the ins and outs of the crypto currency world to help you successfully build a diversified portfolio. From faucets and bitcoin games to crypto exchanges and live coin trading, you will find everything you need to build your own Bitcoin empire!
LATEST NEWS - ALL FAUCETS UPDATED!!
All our faucet lists have been updated on 17 November 2018!
Get Your FREE Initiative Q Tokens Here!!
Click here to claim your FREE tokens!
What is Initiative Q?
Initiative Q is building the payment system of the future. The Q payment network will integrate the best technological improvements that have been made in the payment industry over the last few decades to create a flexible, easy-to-use and inexpensive payment network. These technologies have been available for years, but have not been adopted due to a classic chicken and egg barrier: No buyer wants to join a new network with no sellers, and no seller will offer a payment option that no buyer uses. Initiative Q solves the adoption problem by associating the payment network with a new global currency, and distributing this currency to early adopters for free.
Click here to claim your Initiative Q Tokens
AUTO FAUCETS TO LEVEL UP FAST!
Hello fauceteers. Are you interested in leveling up fast on FaucetHub? Our auto faucets automatically make a tiny claim many times per hour direct to your FaucetHub account, leveling you up faster than ever before. The payouts are low but the claim rates are high, adding EXP to your account with each and every claim. If you know the benefits of a higher level then you need to start using these today and crank up your FaucetHub level fast!
Quick FaucetHub Links
Introducing the CoinPot/Moonbit Faucets!!
Diversification is the key to success in the crypto currency world, so it makes sense to collect from more than one fauceting network. Many fauceteers use FaucetHub as their main source of cryptos but there is another faucet network that is very important to maximise your earnings - the CoinPot Faucets aka the Moonbits. This little network consists of seven HIGH PAYING faucets that connect to a master dashboard known as CoinPot.co **Please note that it is NOT the same site as coinpot.win and is not connected to FaucetHub - it is a completely separate fauceting network.
If you have not used the CoinPot faucets before or would like to brush up on the current info please check out our CoinPot guide here and start claiming a stack of extra coins every day :)
CoinPot Faucet Links
Introducing Cointiply!!
Cointiply is a multi-faceted earning site that allows you to earn MANY coins which you can withdraw to FaucetHub or your own wallets. It features a fun mining game that you can build up over time, ptc and offerwalls, high paying surveys, other games plus an hourly faucet. It also features a friendly chatroom where you can get help from other users. In addition, you can get paid for running videos on your PC. A fun site with outstanding earning potential - highly recommended for FaucetHub users and survey addicts.
Click here to get started with CointiplyMore ways to earn Cryptos
Introduction to Bitcoin
Bitcoin is a digital asset also referred to as a crypto currency. It was the first such currency to gain popularity, having been introduced to the world in 2009 and now being used by millions of people around the world. Despite its rapid growth, Bitcoin and the blockchain technology on which is it based remains a mystery to many people in mainstream society. The purpose of this article is to remove some of the mystery around Bitcoin so regular people can be empowered and encouraged to embrace it as an investment commodity and as a payment form.
Bitcoin was introduced to the world as an alternative to the established banking and financial system primarily in response to the irresponsible actions of big banks that caused the Global Economic Crisis of 2008.
Developed by a lone programmer or a team of unknown programmers under the pseudonym “Satoshi Nakamoto”, Bitcoin was described as a peer to peer payment system that allows people to send value to each other without the need for an intermediary. In other words, it is a way for people to pay each other without needing to use banks.
Bitcoin transactions are conducted over the internet using data encryption, hence the term 'crypto currency', and are recorded on an open 'shared ledger' on thousands of computers around the world, making it highly resistant to attack and fraud because there is no central point that can be exploited.
The computers that store the shared ledger are collectively known as the Bitcoin Network, and have the job of validating each new transaction before it gets added to the ledger as part of a 'block'. A block is formed every ten minutes and can contain details of many transactions. The blocks are encrypted and timestamped, and linked consecutively, forming what is referred to as a blockchain.
No part of the blockchain can be fraudulently altered without first unlocking the surrounding blocks and then trying to convince all the other computers on the network that nothing has been changed, so it is fairly well guarded against hackers and would-be theives.
The open ledger nature of the blockchain also prevents anyone from being able to 'double spend' their bitcoins, which has long been a challenge for people dealing with digital assets.
In order to receive bitcoins, a person must generate a pair of digital 'keys'. These keys are the equivalent of someone's account number and password from a traditional bank. The first key is called the 'Public Key' or 'Wallet Address'. To receive bitcoins it is required to share the person's Public Key with the payer, who would simply send bitcoins to that address. The second key is known as the 'Private Key', and must be kept secret at all times. The Private Key is used to send bitcoin payments, but the key itself is not shared.
Public and Private keys for someone's Bitcoin account are stored in a digital 'wallet' – a small app that runs on a PC or mobile device. The actual bitcoins themselves only exist as a balance in the open ledger, and the wallet acts as an interface to allow the owner to send and receive bitcoins and view their balance.
So bitcoins can be easily sent from one person to another by using wallets and keys, but they can also be converted into traditional currency via the use of 'exchanges'. An exchange is an online marketplace that works in a similar fashion to the stock exchange or a forex market. There are many exchanges, and each one will have a 'buy' and 'sell' price for Bitcoin in relation to US Dollars and perhaps a number of other currencies as well. The price for bitcoin and other crypto currencies can fluctuate greatly, creating an ideal hunting ground for investors and market traders seeking to make a profit from the ever changing rates. This is a high risk method of investment often referred to as 'crypto trading', and has been the making of many new millionaires over the last few years.
There are other ways to invest in bitcoin and crypto currencies however. One of the simplest is to merely buy bitcoins at the current price and just hold it for the long term in the expectation that the price will steadily rise over time. With the price of bitcoin rising by around 1000% in the last year alone it is easy to see why many people see this as a good strategy.
Another method of investment in crypto currencies is a bit more complex than simply buying the coins outright, and is called 'mining'. Mining is a term that actually has nothing to do with shovels and pick axes. It actually refers to the running of computers that are connected to the Bitcoin Network. The 'mining' is really just the validating of new bitcoin transactions and adding them to the blocks that the blockchain is made up of. Each time a new block is created, the owner of the computer that created the block gets paid a reward in the form of new bitcoins! It is a way of generating new coins to increase the circulation as well as incentivising people to buy and run the powerful computers that do the work.
The final method of 'crypto investing' that will be mentioned in this article is the direct investment into new crypto currencies that are in the throes of being launched upon the market in a process known as 'ICO's' or Initial Coin Offerings. ICO's are generally highly speculative, as many new crypto currencies are released each week, many of which fail. Failed ICO's are an extremely effective way for investors to lose money. However, the rewards can also be very exciting if an ICO proves to be successful.
In addition to the investment methods discussed here there are numerous online investment platforms related to Bitcoin and other crypto currencies, some of which are more legitimate than others. Some degree of risk is to be expected with any of them, and people should always proceed with caution and take professional advice before getting involved. Keep in mind that where there is great opportunity, there can also be great risk.
Not all Bitcoin users are interested in the investment side of things, however. As with the traditional banking and financial system, most users just want a convenient way to send and receive payments securely and with the confidence of knowing that their coins are safe at all times.
The benefits of using Bitcoin as a system of payment for these people are many. No intereference by a third party; total control of one's own finances; lower fees; and the ability to quickly send payments to anyone, anywhere in the world.
Bitcoin and the blockchain technology, as well as other crypto currencies, are here to stay. They are the future of finances for people not only in the First World, but also in developing countries. This article has introduced the basic concepts that underpin crypto currencies, discussed digital wallets and the Bitcoin Network, and briefy described some of the ways that people can invest in this exciting category of digital assets. The reader is encouraged to learn more about Bitcoin, seek sound financial advice, and consider the possibilities that blockchain and crypto currencies present as we move into the age of a free and open society.
Old Problems
Centralized banking put control of the world's money in the hands of a few incredibly rich and powerful families. By manipulating the financial markets and the media, those families have coerced politicians and gained influence over many governments around the world, and used that influence to further their own greedy interests. As a result of their unchecked lust for power they have ensnared much of the world's population in an ever expanding cycle of debt.
New Solutions
Decentralized banking gives people control over their own money without the interference of banks and third party institutions. With Bitcoin and crypto currency, people are able to trade wherever they like and with whomever they choose. Blockchain technology delivers a level of convenience and pseudonymity that traditional banking never could. Trust is build right into the crypto code. Every transaction conducted using crypto currency helps to erode the powerbase of the central banking cartel and helps pave the way for a free and open society.
