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Bitcoin for Starters: A 21st Century Currency

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Bitcoin is all the craze in the world right now. What is it, why has 
it gone on to become so popular in the last month alone and why should 
you pay attention? This is all what this post is about. Keep reading!<br />

<h4>
<span style="font-weight: bold;">The start of the currency</span></h4>
Bitcoin, as you might’ve known, is the digital currency (or 
cryptocurrency) for the 21st century. It’s nothing physical, you can’t 
see it, you can’t touch it but it’s there.<br />

But before you start, keep in mind that Bitcoin is a complex product.
 The concepts of cryptocurrencies in general are deep and abstract, and 
understanding how and why Bitcoin works requires a fair degree of 
technological knowledge. If I may speak frankly, Bitcoin is not 
everyone’s subject.<br />

To put the idea in simpler words, Bitcoin is an alternative (digital)
 currency that can be paid for goods and services much like conventional
 currencies. You can transfer Bitcoins to other users and vice versa to 
maintain your financial account.<br />

It was started in early 2009 by an unknown person under the name of 
Satoshi Nakamoto. No one knows for sure who this person might be or 
whether there is a whole group of people operating under this name.<br />

In around-2010, he transferred all the Bitcoin-related property to 
Princeton University graduate, Gavin Andresen. Interestingly, Andresen 
has himself communicated with Nakamoto only via emails or web forums. 
Still, the amount of Bitcoins owned by Nakamoto are estimated to be 
around a million so he’s a billionaire in dollars regardless of his 
identity.<br />

The currency isn’t dependent on a bank or any other source. Its value
 depends on the amount of interest and support it garners, as simple as 
that.<br />

<h4>
<span style="font-weight: bold;">Some Facts</span></h4>
Bitcoin is divided into units, just like any other currency in the world. The smallest unit is just 0.00000001th of a Bitcoin.<br />

Only 21 million Bitcoins will ever be created to avoid inflation. 
Around 12 million Bitcoins are already in existence today, with their 
publishing rate of 25 Bitcoins per 10 minutes slowing down until that 
golden 21 million figure is reached, which will happen around 2140.<br />

Around $30,000 value worth Bitcoins are spent everyday worldwide. The
 currency has a total market capitalization of more than $8 billion.<br />

Its value has jumped by 300,000 times since they came into existence,
 making the people who brought them in their infancy very rich. In fact,
 some guy from Florida brought 2 pizzas for 10,000 Bitcoins back in 
2010.<br />

<h4>
<span style="font-weight: bold;">How to Get Started with Bitcoin?</span></h4>
To start buying or selling bitcoins, the first thing you need to do 
as a new user is install a digital wallet on your computer or mobile 
device. The wallet is a free software and is quite similar to a personal
 finance software.<br />

The wallet maintains your balance on your device and encrypts that 
info. There are two keys given with any wallet: A private key and a 
public one. The private key is to be kept secret at all costs whereas a 
public key is like an address through which you carry out your 
transactions.<br />

This software is available on mobile, on a PC and as a web interface.
 Protecting it is necessary as once you lose it, your fortune is gone 
and will never come back which is why getting it installed on PC is the 
safest bet.<br />

<h4>
<span style="font-weight: bold;">Buying a Bitcoin</span></h4>
The value of each Bitcoin is worth around $650 and while that figure 
is on the rise, it is extremely volatile. “But how can I earn?”, you are
 asking by now. Here are a few ways.<br />
For one, there is the simple exchange from real-life money to 
Bitcoin. The rate fluctuates a lot but since Bitcoin’s value is mostly 
going up right now, this isn’t a very bad bet at all at virtually any 
cost. However, not all currencies are exchangeable to Bitcoin.<br />

Online exchanges which work in Pakistan are Mt. Gox, VirWox and 24change.<br />

If you can find a person who is willing, then you can also trade real-life money to Bitcoins. Websites such as <a href="http://www.bitcoinlocator.com/" target="_blank">www.bitcoinlocator.com</a> are especially helpful.<br />

Bitcoins can also be brought as a physical currency which comes in 
the shape of coins. These coins contain a piece of paper inside them 
containing a private key. This is a rather expensive way of getting 
Bitcoins so it certainly isn’t recommendable unless you want to “touch” 
the currency.<br />

Finally, there is mining, which is easily the hardest way to getting a
 Bitcoin. This is also the only way through which a Bitcoin comes into 
existence (at a rate of 25 bitcoins every 10 minutes as I’ve said 
before, this rate halves every four years).<br />

Miners use dedicated rigs with ASIC’s in “pools” along with other 
miners to solve complicated encryption functions. These are machines 
which are build just for the purpose and if you try to do that from a 
normal PC, you’re mad.<br />

This encrypted function gets more and more difficult to solve as time
 goes on, making the entire process slower and hence the amount of 
Bitcoins minted.<br />

Note: If you didn’t understand above 3 lines then trust me its not your fault. Its because mining Bitcoins is not for you.<br />

<h4>
<span style="font-weight: bold;">Transactions and Usage</span></h4>
Bitcoin transactions generally take around 10 minutes to happen, 
after first confirmed in the block chain of the network. This makes sure
 that Bitcoins aren’t spent more than once but also means the usage is 
slow, an area through which its competitors are capitalizing. (In a few 
cases, this can also take up to an hour.)<br />

Transaction fees usually depend on the amount of data which is sent 
out during transactions. They’re usually as low as to be negligible but 
if you’re sending a large number of tiny amounts worth Bitcoins, they’ll
 be more.<br />

Bitcoin’s usage is increasing rapidly. In countries like Canada, you 
might even spot a Bitcoin ATM. Virgin Galactic now accepts Bitcoins for 
an outing to space while in the US, a guy recently spent a measly 91.4 
Bitcoins to buy a $100,000 Tesla Model S electric car. Now that’s a 
high-tech way to buy a high-tech ride.<br />

In our country, they’re virtually useless right now but investing in 
them doesn’t seem too bad an idea. They are on the way up, that’s for 
sure but still, investing your entire fortune into it isn’t something we
 would recommend right now.<br />

<h4>
<span style="font-weight: bold;">Advantages</span></h4>
<ul>
<li>Payments made easy: Bitcoin allows you to pay with a simple two step
 scan-and-pay. No need to sign up, swipe your card, type a PIN, or sign 
anything. All you need to receive Bitcoin payments is to display the QR 
code in your Bitcoin wallet app and let your friend scan your mobile, or
 touch the two phones together (using NFC radio technology).</li>
<li>Security and control over your money: Bitcoin transactions are 
secured by military grade cryptography. Nobody can charge you money or 
make a payment on your behalf.</li>
<li>Zero or low fees: Bitcoin allows you to send and receive payments at
 very low cost. Except for special cases like very small payments, there
 is no enforced fee.</li>
<li>Protect your identity: With Bitcoin, there is no credit card number 
that some malicious actor can collect in order to impersonate you. In 
fact, it is even possible to send a payment without revealing your 
identity, almost just like with physical money.</li>
</ul>
<h4>
<span style="font-weight: bold;">Disadvantages:</span></h4>
<ul>
<li>The price of a Bitcoin is volatile, making it difficult to assess 
its real value and increasing the risk of losses for investors.</li>
<li>The relative anonymity of Bitcoin may encourage its use for illegal 
and illicit activities such as tax evasion, weapons procurement, 
gambling and circumvention of currency controls.</li>
<li>The fact that bitcoins exist primarily in digital form renders them vulnerable to loss.</li>
</ul>
<h4>
<span style="font-weight: bold;">Other Cryptocurrencies</span></h4>
In case you think that you missed the oppurtunity to invest in 
Bitcoins when they were cheap, then things haven’t quite winded up just 
yet.<br />

There are a number of such currencies including Litecoin (market 
capitalization of $421 million, value $17), Ripple, Peercoin, Dogecoin 
and Nextcoin. They’re all cheap and virtually useless right now so 
investing in them might seem stupid but then again, Bitcoin was once in 
the same phase.<br />

<h4>
<span style="font-weight: bold;">The Future</span></h4>
Given its volatile nature, no one can say for sure whether this 
recent trend of (mostly) rocketing value will continue in the future but
 people should certainly take notice.<br />

Whether you want to be a part of the boom is up to you but we really 
hope it will not prove a bubble in the end. Placing your bet on 
something which loses half of its value overnight is a risky affair.</div>

Bitcoin for Starters: A 21st Century Currency

Bitcoin is all the craze in the world right now. What is it, why has it gone on to become so popular in the last month alone and why sho...

11:18:00 AM

Evolution of the Gs [Infographic]

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While we wait nervously for the arrival of 3G, there are people like 
the maker of this infographic who experience data speeds of 100,000 
kbps. LTE to be precise.
<br />
This amazing infographic by <a href="http://news.commscope.com/news/journey-evolution-g-infographic" rel="nofollow" target="_blank">Commscope</a>
 compares 4G – which the West is enjoying – to 2G by giving an example 
of Burj Khalifa (the world’s tallest building) to a Border Collie, which
 is a breed of dog not more than half a meter in height.
<br />
It goes on to call 2013 the first year in history where data of 
more than 1 exabytes (equal to 1 billion gigabyte) is used by mobile 
networks.
<br />
Check out the infographic for yourself below:<br />
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</div>

Evolution of the Gs [Infographic]

While we wait nervously for the arrival of 3G, there are people like the maker of this infographic who experience data speeds of 100,000 ...

11:15:00 AM

Wateen Telecom Sponsors International Conference on Information and Computer Technology

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<span style="color: blue;">Mamnoon Hussain at ICICT conference 2013 sponsored by Wateen telecom</span></div>
Wateen Telecom successfully concluded its participation in the 
International Conference on Information and Computer Technology (ICICT 
2013), that was held at the Institute of Business Administration (IBA) 
Karachi on the 14th and 15th of December 2013.<br />

<div class="wp-caption-text">
Wateen Telecom was a gold sponsor for the event this year.</div>
ICICT is a broad-based, dynamic and fully reviewed conference that 
aims to capture the new researches in the field of Information and 
Communication Technologies. This year the main objective of the 
Conference was to provide a platform for researchers, engineers, 
academicians as well as industrial professionals from all over the world
 to present their research results and development activities in 
Information and Computer Technology.<br />

Speaking on the sponsorship, GM Enterprise Wateen Telecom, Mr Hamid 
Mohiuddin said, “This conference was an excellent opportunity to 
exchange ideas and to build future partnerships and work together to 
achieve success by building mutually beneficial connections within the 
region and Wateen Telecom was delighted to be a part of such an 
initiative.”<br />

The conference has gained international recognition due to the number
 of renowned scholars that attend as the keynote speakers. It provides a
 platform to enhance the interaction of local and overseas researchers.<br />

The conference was inaugurated by the the President of Pakistan, 
Mamnoon Hussain. Wateen Telecom was represented at the event by its GM 
Enterprise Mr. Hamid Mohiuddin, Mr. Fuzail Hussain Manager Enterprise 
and Carries Sales and Mr Owais Ullah Khan. A number of internationally 
renowned IT experts and research scholars also participated in the 
conference.</div>
</div>

Wateen Telecom Sponsors International Conference on Information and Computer Technology

Mamnoon Hussain at ICICT conference 2013 sponsored by Wateen telecom Wateen Telecom successfully concluded its participation in the I...

11:11:00 AM

New Year Offer: Get PTCL Evo for Rs. 500 Per Month

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhprIbifiuCJDxNWfj32UeMG0JSz_TkGDyMX397NWDfy5wnRcpO3bHipgcyXkJWRfYWONB03Ai9dFgjLqS_2KlwVaXhsapNBlxgvRAg7awicaHbw9rCkQVn7Q3SW6t8TBNInqVULn0YK5k/s1600/evo_wow_pb.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhprIbifiuCJDxNWfj32UeMG0JSz_TkGDyMX397NWDfy5wnRcpO3bHipgcyXkJWRfYWONB03Ai9dFgjLqS_2KlwVaXhsapNBlxgvRAg7awicaHbw9rCkQVn7Q3SW6t8TBNInqVULn0YK5k/s1600/evo_wow_pb.jpg" /></a></div>
PTCL has introduced this New Year Offer for its potential wireless broadband customers.<br />

Under the promotion, you can buy a new EVO device and enjoy a 
discounted rate of Rs. 500 per month for one year, till December 2014.<br />

This offer is available on new purchases only.<br />
<div class="adsxpls" id="adsxpls1" style="display: block; margin-left: auto; margin-right: auto; padding: 0px; text-align: center;">
</div>
Any subscriber making a new purchase for EVO USB between 24<sup>th</sup> Dec -3rd of Jan shall enjoy 58% discounts on monthly charges for 12months.<br />

EVO Package for this offer is capped at 30GB. Regular charges (without discount) for this package are Rs. 1,200 per month.<br />

Below are the package details for the promotion:<br />

<ul>
<li>EVO Device charges: Rs.2,550</li>
<li>Monthly Recurring charges: Rs.500/month</li>
<li>Volume limit: 30GB</li>
<li>Billing options: Prepaid & Postpaid</li>
</ul>
No, there’s no discount for existing customers. But they can discard 
their running devices and get new EVO connections to avail the offer.<br />

<div align="left">
<span style="font-weight: bold;">Terms and Conditions</span></div>
<ul>
<li>Promotion is applicable for purchases made between 24th Dec to 3rd Jan 2014.</li>
<li>Promotion is valid for new sales on EVO 3.1Mbps USB only.</li>
<li>Promotion is valid for postpaid and prepaid subscribers.</li>
<li>Offer is not applicable for package conversions.</li>
</ul>
</div>

New Year Offer: Get PTCL Evo for Rs. 500 Per Month

PTCL has introduced this New Year Offer for its potential wireless broadband customers. Under the promotion, you can buy a new EVO devi...

9:54:00 PM

Get Your Wedding Captured by a Nokia Lumia 1020 for Free!

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Nokia Pakistan has announced that it will get a wedding function covered by a professional photographer using a <a href="http://rexhacker.blogspot.com/2013/12/nokia-lumia-1020-now-available-in.html" target="_blank">Nokia Lumia 1020</a>, for FREE.<br />

So if you are getting married in coming days, then go ahead and 
register yourself to get your wedding captured by Lumia 1020’s 41 
megapixel camera that comes with PureView technology, Optical Image 
Stabilisation and amazing high-resolution zoom.<br />
<div class="adsxpls" id="adsxpls1" style="display: block; margin-left: auto; margin-right: auto; padding: 0px; text-align: center;">
</div>
Sign up with your name, wedding date and wedding venue. <a href="https://www.facebook.com/NokiaPakistan/app_433653003323666" target="_blank">Here’s the link</a>.<br />

Nokia said that based on availability one wedding would be selected 
and covered by a professional photogropher using a Nokia Lumia 1020<br />

Here are the rules:<br />

<ul>
<li>Based on availability one wedding would be selected and covered by a professional photographer using a Nokia Lumia 1020</li>
<li>The rights of final decision are vested with Nokia Pakistan and its 
marketing team and the final decision would not be challengeable</li>
<li>There is no limit to the amount of pictures that would be taken at the venue</li>
<li>The photographer covering the event with the Lumia can only be designated by Nokia Pakistan</li>
<li>All the pictures taken at the event would be handed over to the participant.</li>
</ul>
</div>

Get Your Wedding Captured by a Nokia Lumia 1020 for Free!

Nokia Pakistan has announced that it will get a wedding function covered by a professional photographer using a Nokia Lumia 1020 , for FR...

9:51:00 PM

Samsung Releases an Infographic on the Evolution of Displays in Smartphones

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Samsung may have been leading the smartphone race by some distance 
but it hasn’t forgotten the past. Instead, they’ve released a new 
infographic on the evolution of displays on its phones, starting all the
 way from the Mono displays of the 80s.<br />

Mono Displays ruled the telephony industry until the start of the 
21st century when we first got color displays. By the end of the first 
decade, technology once again changed, when we finally got the AMOLEDs, 
the more common breed of displays found on the current smartphones<br />
<div class="adsxpls" id="adsxpls1" style="display: block; margin-left: auto; margin-right: auto; padding: 0px; text-align: center;">
</div>
Samsung hasn’t told what it plans to do in the future but it seems 
like a no-brainer that its next flagship will come with a 2K display.<br />
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</div>

Samsung Releases an Infographic on the Evolution of Displays in Smartphones

Samsung may have been leading the smartphone race by some distance but it hasn’t forgotten the past. Instead, they’ve released a new info...

9:47:00 PM

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Bitcoin for Starters: A 21st Century Currency

Evolution of the Gs [Infographic]

Wateen Telecom Sponsors International Conference on Information and Computer Technology

New Year Offer: Get PTCL Evo for Rs. 500 Per Month

Get Your Wedding Captured by a Nokia Lumia 1020 for Free!

Samsung Releases an Infographic on the Evolution of Displays in Smartphones

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