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infinitecoin2

Infinitecoin (IFC) is an open network, peer-to-peer ecoin similar to Litecoin.  However, IFC has 1142.86 times as many coins as Litecoin.  Infinitecoin is considered the penny of ecoins.  Infinitecoin and Litecoin use scrypt hash function for proof-of-work.  This is different from Bitcoins which use another function called SHA-256.  Also, the Infinitecoin network adjusts mining difficulty every hour.  For Bitcoins and Litecoins mining difficulty remains the same for longer periods of time then changes rapidly. This means that it is already very difficult to mine for Infinitecoins.

Infinite coins could have a strong future.

* Almost all Infinite Coins have already be ‘mined’. It is very difficult to get Infinite coins by mining.  You pretty much have to buy them on the open market.  This makes Infinitecoins harder to acquire and rare compared to other Ecoins like Bitcoins and Litecoins.

* Infinitecoins are used to buy small items (this is why they are sold in large numbers like 1,000,000). If more people start using Infinite Coins (IFC) for small purchases, demand could skyrocket.

* In the future, it is possible that Infinitecoins could become the NUMBER ONE Ecoin for small purchases in stores ( a few dollars). This is potentially a HUGE global market.

* The Infiintecoin market is volatile.  Currently large price swings are common.

* Getting in early on Inifinite coins could be a great thing to do!

What you do with Inifinitecoins

Infinitecoins are exchangeable for other Ecoins like Bitcoins and Litecoins.  There are many ecoin markets that exchange infinitecoins for other ecoins.  If you want to send someone a small amount of ecoins, Infinitecoins may be the best way to do it. While transferring Litecoins and Bitcoins is relatively inexpensive, transferring Infinitecoins is basically free.  This is a real value and the markets have demonstrated this by pushing up its value in Bitcoins and Litecoins.

How to get Infinitecoins

The first thing you need is an Infinitecoin specific wallet. You can download or update your IFC wallet from the Infinitecoin website for the desktop version. Most online wallets are connected to ecoin exchanges.  As of now most of those exchanges only allow intra-ecoin trading rather than USD or EUR to ecoin trading.

 

Every ecoin or fraction of an ecoin starts life the same way – as a hidden number that must be “found” by a computer that is mining (doing calculations) to find the ecoins.  Once an ecoin is found it is placed in a digital “wallet”.   It stays in the digital wallet.  If the owner wants to sell, give or trade the ecoin (or fraction of the ecoin), they will send the number of ecoins to the recipient’s ecoin wallet address (likely a long string of numbers and digits).

There are many reasons cited as benefits for buying and selling with ecoins rather than currency or credit.  Some of the most popular are:

(1)  The buyer can remain anonymous to the seller.  In the “real” world you can walk into a store, buy something with cash and remain anonymous.  This is not really an option online since almost all transactions you to create an account and use a credit card or bank account.  Ecoins and other crypto currencies allow the buyer to pay for goods and services online without revealing his or her identity to the seller.

(2) Transaction fees are typically less than other digital or credit options.  Credit card and debit transactions fees can range from 2% to 10% of the actual purchase.  Ecoins transaction fees are typically less than 1%.  Many are as low as .02%.  Basically ecoins cut out the banks in the middle and the transaction fees that come with them.

(3) It is extremely (if not impossible) to counterfeit ecoins because validity requires over 50% of all the computers on the peer to peer network to agree that the ecoin is real.  That is like waking into your local store, paying with a $100 bill and having every person in the U.S. look at the bill and only if a majority agree will it be considered a “real” $100 dollar.