FAQ about Bitcoin and Cryptocurrency

Regarding Bitcoin, the intent of this FAQ is to provide general education and information about Bitcoin. It should not be considered a source for legal guidance or financial advice.

Q. What is Bitcoin?
A. Bitcoin is actually a vast computer network that sustains a new payment system and completely digital currency that emulates a gold coin. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From the perspective of how Bitcoin can be used, it is basically virtual cash for the Internet.

Q. Who or what controls Bitcoin?
A. Bitcoin authority is decentralized through its Blockchain technology… which means Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they and no one individual or group can force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules based on the Blockchain. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive and obligation to protect this consensus.

Q. What is the best way to get free bitcoin?
A. There are several ways to acquire free bitcoin online. However, the process for getting FREE Bitcoin is not in most cases a speedy one, nor is it one which will deliver a significant amount of free bitcoin in one, large, lump sum. For example, one of the most popular totally-free methods for getting free bitcoin is through a Bitcoin Faucet… the word “faucet” eludes to the slow flow of bitcoin from the bitcoin source to the user of the bitcoin as being comparable to that of a small, steady, faucet drip.

There is a healthy supply of internet websites that function as Bitcoin Faucets. Mostly, they are all slightly different in terms of how they can be used as a free source of Bitcoin. In most Bitcoin Faucets, bitcoin is delivered in the form of a very small increment of a bitcoin known as a Satoshi… named after Satoshi Nakamoto, the Japanese creator of the protocol used in blockchains and the Bitcoin cryptocurrency. One Bitcoin is equal to 100 million Satoshis, making a Satoshi the smallest unit of bitcoin currently recorded on the blockchain.

Most faucets will drip Satoshi to any collector of Bitcoin who simply “claims” the amount being offered on a free basis; which is most often a very small amount of 2 to 15 Satoshi per claim. A claim is executed most typically by a simple click of a button on a faucet that might read something like “Get Reward”. Also, there is usually a time element involved where the Faucet owner stipulates that a certain, specified number of Satoshi can be freely claimed by the same person(s) every 5, 10, 15, 30 or 60-minutes.

A successful bitcoin faucet claim will result in the amount of the Satoshi claimed to be sent or transferred to your very essential and “must have” Bitcoin Wallet for storage and safe-keeping. These transfers are usually performed quickly and depending on the Faucet’s operation can often be instant. Get a free, high-quality Paxful Bitcoin Wallet here.

Working a faucet to acquire free bitcoin is almost effortless as the free claimant is merely “clicking” a button. Bitcoin faucets do deliver free Bitcoin without costing the claimant any money. But, investing several hours in harvesting bitcoin claims from a single faucet, or even simultaneously from several different faucets, may only yield a collection of bitcoins that amount to a few dollars. After some experience and evaluation, a Bitcoin Faucet collector may find the payoff is only $2, $3 or $4 for an hour’s time investment in making consecutive claims at one or more faucets.

Q. How else can Bitcoin be acquired on the basis of “free”?
A. As stated, Bitcoin Faucets are probably the most common and popular way to getting FREE bitcoins. And, while faucets are mostly sure and steady ways of acquiring free bitcoin, the simple and easy process involved in faucet claims can be both slow and tedious.

Fortunately, there are other ways to get free bitcoin. Arranged roughly from least to most profitable, they are as follows:

– Faucets
– Games
– Gambling
– Mining
– Affiliate programs
– Getting paid directly in bitcoin

Q. What is the (bitcoin) blockchain?
A. Blockchain is the technology that sustains the control and accounting of digital currency… be it Bitcoin, Litecoin, Ethereum, and other cryptocurrencies (crypto). The technology enables the digital information that comprises crypto to be distributed, but not copied. The Blockchain is sometimes described as a “digital ledger” securely stored in a distributed network.

Basically, the Blockchain is, quite simply… a digital, decentralized ledger that keeps record of all transactions that take place across a peer-to-peer network pertinent to a specific cryptocurrency.

For another illustration of Blockchain to explain it further, let’s compare it to working with a spreadsheet… perhaps an Excel spreadsheet. This spreadsheet is shared among different computer networks of where everyone with access to the network has copy of it. The spreadsheet contains information of the transactions enacted by actual people. Anyone can read or review that spreadsheet, but no one can edit it.

This is the beauty of Blockchain. It works with Blocks instead of “rows” and “columns” of data as a spreadsheet does. A block in a blockchain is a collection of data. The data is added to the block by connecting it with other blocks in order of chronological transactions creating a chain of blocks all linked together.

Blockchain as a distributed ledger is simply a ledger that is spread across the network among all peers in the network, and each peer holds a copy of the complete ledger.

Some key attributes of Blockchain which proves that blockchain technology is better than traditional systems of ledger information keeping:

Peer-To-Peer: No central authority can control or manipulate it. All parties to a transaction talk to each other directly. This allows for data exchange to be made directly with third-parties involvement.
Distributed: The ledger is spread across the whole network which makes tampering difficult and unlikely.
Cryptographically-Secured: Cryptography is used for security purposes and concerns to make the ledger tamper-proof.
Add-Only: Data can only be added in the blockchain in a time-sequential order. This property implies that once data is added to the blockchain, it is almost impossible to change that data and once added can be considered permanent and irremovable.
Consensus: This is the most critical attribute of all. Consensus provides blockchain the ability to update the ledger only via consensus. This is what gives it the power of decentralization. No central authority is in control of updating the ledger. Instead, any update made to the blockchain is validated against strict criteria defined by the blockchain protocol and added to the blockchain only after a consensus has been reached among all participating peers on the network.

Q. How do I fix either video or music playing problems?
A. Nearly all problems you might encounter regarding either video or music playing can be fixed by simply refreshing the page.

Q. How do I become a member of MusicTV1?
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Q. Can I change the video and/or music line-up to play my favorites?
A. MusicTV1 provides visitors and users with volume level control and the ability to switch videos. MusicTV1 is carefully programmed to address critical timing issues in support of its non-stop and random play of both videos and EDM tracks. To sustain the smoothest operation possible, providing viewers control beyond these areas jeopardizes this goal. To skip a video you do not want to watch, simply refresh the page. This will change videos, but will not interrupt the music track.

Q. Can I make suggestions regarding the music heard here?
A. We welcome suggestions and information that assists in our goal to continuously provide the best free entertainment experience possible. You should be aware that the primary issue in our meeting this challenge is acquiring the uncomplicated availability of both videos and music tracks.

Q. Where are there people to chat with?
A. They are out there. Parts of MusicTV1 are very new. It only became fully functional on March 15, 2019. As people learn about it, there will be more and more people enjoying its chat and interactivity features. At this early stage, part of getting the most out of MusicTV1 will be in approaching the site creatively. Why not post a simple blurb on The Buzz about your interest in live chat… either text or video chat. Post and chat about whatever you want, but a good place to start might be to mention when you are there and what you like to chat about.

Q. Is it possible to start a group or club here?
A. You can do just about anything you want here as long as it’s legal. Start a group, club, business or fan club. The easy way to get your plans going is probably to start a thread on The Buzz. If whatever you’re trying to do shows signs of being popular, you can get your own forum or page that will be set-up for you. Beyond this, let us know what you have in mind.

Q. Can I sell my own “stuff” here?
A.Yes, as stated before, you can do or sell anything that is legal. To actually transact sales, you will need your own merchant account or at a minimum a PayPal account to process your payments. MusicTV1 can not provide payment processing.

Q. Can I learn more about how MusicTV1 works?
A. More information about MusicTV1 can be found on this page: About MusicTV1

Q. Is MusicTV1 primarily intended for a male audience?
A. No. Not at all… it is intended to be FUN for fun-loving PEOPLE. Reading between the lines… beautiful, glamorous, scantily-clad and costumed women are generally regarded as the best features of free-spirited, sophisticated, highly-rhythmic, music videos. Even women agree… the female form is visually pleasing. There’s not much better than a pretty woman moving and swaying to exciting and stimulating music… it’s a huge component in the beauty of dance.

Q. What is the best way to contact MusicTV1?
A. Email: musictv1.com@gmail.com – you may also post messages in the chat lounge.

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