What is Litrabit? LitraBit is an ERC20 token, a cryptocurrency based around the successful Ethereum Blockchain. That will replace traditional cash in the educational ecosystem. It aims for a future where most if not all transactions on a college or university campus take place in LitraBits. So students can use their owned tokens to pay their fees or pay cafeteria bills, even make transactions among themselves.
I understand a little of Bitdegree in Education Is Librabit gonna be like incentives for students, for a good study in college, with Litrabit tokens? It would be great
Just remember one thing that you won't get anything for free, so if you have invested in any kind of token already then you have to wait for the price increase in the real market. If you don't have the patience to wait then you can directly purchase such tokens from the open market and send it to your wallet. As that token has some value you have to pay that value in whatever form which is accepted by the token issuer or seller. Don't waste your time in looking for free tokens.
There are some guyz I know, they barely invest their personal dime in crypto, they scout for free tokens ranging from bounty campaign, airdrop etc and they're doing relatively nice considering the amount they pull in. I think it's not an absolute NO!
I haven't seen anybody post about what would be my biggest worry if I were trying out alternative block chains. I realize this may be perceived as "Gavin is FUD'ding anything that isn't bitcoin!" (FUD == Fear, Uncertainty and Doubt) But I think some of you might be forgetting some basic computer security fundamentals in the excitement to be early adopters.
When I first heard about bitcoin, my questions were:
1) Can it possibly work (do the ideas for how it works make sense)? 2) Is it a scam? 3) If it is not a scam, could it open my computer up to viruses/trojans if I run it?
I answered those questions by:
1) Reading and understanding Satoshi's whitepaper. Then thinking about it for a day or two and reading it again. 2) Finding out everything I could about the project. I read every forum thread here (there were probably under a hundred threads back then) and read Satoshi's initial postings on the crypto mailing list. 3) Downloaded and skimmed the source code to see if it looked vulnerable to buffer overflow or other remotely exploitable attacks.
If I were going to experiment with an alternative block-chain, I'd go through the same process again. But I'm an old conservative fuddy-duddy.
If you want to take a risk on a brand-new alternative block-chain, I'd strongly suggest that you:
1) Run the software in a virtual machine or on a machine that doesn't contain anything valuable. 2) Don't invest more money or time than you can afford to lose. 3) Use a different passphrase at every exchange site.
Very wonderful tips, but that recurring phrase 'you can afford to lose' , lol (LOL-laughing out loud). It's a bit funny because if it's possible, no one would like to lose a dime, unless someone is a gambler.