Well if you got tired of the incredibly stable trading of bitcoin in the last few days (an extremely narrow range between $18-20), then namecoin is your new option!

Check out the bitparking exchange to trade bitcoin for namecoin!

Recently in 30 hours it went from 0.03 btc to 0.14btc! Exciting times!

In recent news, I got back into the Bitcoin stuff that I mentioned before (remember when I was talking about buying video cards?). Anyways, back in January/February bitcoins were worth $1 each. They hit $31 recently. It’s pretty volatile though. Too bad I didn’t invest in it back then, I knew it was gonna take off.

To put it simply, bitcoin is a crypto-currency. It uses encryption & massive amounts of hashes to make it work. What’s more, it’s completely decentralized, based on peer-to-peer connections. Thankfully science of cryptography & technology has made this possible. It’s radically different from fiat currency. There is actually a cost to creating new bitcoins (like using the video cards to do lots of hashing to mine new bitcoin).

There’s a lot of potential in this because it is cheaper and more effective for online transactions than anything, even Paypal. It is also great for micro-payments, which is something that people have been trying to get going for the internet, but never managed to get it off the ground.

So there’s lots of upcoming demand for bitcoins and there will be a growth in bitcoins as more services appear around bitcoins. Some rails friends from my IRC channel and I have been looking at doing a real service around that, could be some potential there.

I was messing around with bitcoin trading, trading between USD/CAD & bitcoin, having some fun.. not taking it too seriously. Made $240 in a few days which isn’t too shabby, covers 1 month of rent – that is.. if I can keep ahead of the other traders eh!

Anyways you’ll probably see bitcoins in the news a lot over the next few months, it’s been popping up lately.. There was even a report on CBC radio.

Have you heard about Bitcoins?

Are you a Canadian that would like to try purchasing some?

Look no further.. The simplest way for Canadians to buy bitcoins is by using their bank’s Interac e-Transfer protocol. It’s a really straightforward setup that allows us to email money to other people’s accounts.

In this case, you can use your Interac e-Transfer to transfer money to a bitcoin exchange, and then purchase the bitcoin you want.

www.cavirtex.com is the only exchange that currently accepts interac funding. It is also a dedicated Canadian exchange.

Enjoy.