Visualize huge amounts of money

US Budget in 1 Hour: $435,841,200
I just found a great website: on demonocracy.info you can visually compare the huge amounts of money that run in the world economy, especially with banks and governments.
There are a lot of graphs (this on right shows the US budget in 1 hour).
There’s also a graph showing the truth behind FDIC insurance… there isn’t enough money to cover the dollars in the banks!

What happens if you send bitcoins without fees?

When you send bitcoins, the wallet automatically adds transfer fees, to pay the mathematical work needed to confirm the transaction.
Anyways, many wallets still allow to send a payment without fees: what happens if we do that?
Some “miners” will confim the transaction anyways, others instead ignore them: without fees or with very low fees, the time needed for confirmation is much higher, and it might never happen.So, I tried it, and I transfered 0.1 bitcoin on a “paper wallet“.
Those 0.1 bitcoin came from 24 smaller transactions (many small microtransactions that I made on FreeBitco.in), so the transaction was big: the suggested fee was 0.005 bitcoins, $0.50. Too much, I thought, considering how hard it was to earn them.
I ignored the warning and I transfered them nonetheless.
In the beginning I was serously worried: after two hours the coins were still in a limbo. I went to see transaction details on blockchain.info, and I saw that my queue position was constantly higher. I was on the 600th place, then on the 1800th, and so on. Quite obvious, because “miners” give more priority to who pays more fees.
But, after 461 minutes, the bitcoins arrived safely in my “paper wallet”

The conclusion is: without fees, bitcoins will still arrive, but with a big delay.

A nice explanation on how cryptocurrency works

I stumbled on the Franko website, a bitcoin clone cryptocurrency (actually, it’s a litecoin clone).
If you read the introduction, the concept is explained very well:
  • There are 11,235,813 Frankos
  • Everyday 720 new coins are released
  • The mathematical equivalent to find a needle in an haystack
  • More people searching for the needle = the bigger the haystack has to be = the algorithm is more difficult to solve
If you get at the end of the introduction you can get 0.001 Franko for free (it’s less than a cent of a dollar)