We are a group of people who discuss Bitcoin and other crypto-currencies, and learn about associated technologies and economics. We promote the use of Bitcoin by businesses and individuals.
We meet several times a month in Southeast Michigan, specifically in Ann Arbor, downtown Detroit and Farmington Hills.
There are several ways to contact us and participate:
Questions and Answers
What is Bitcoin?
Bitcoin is digital money, based on a world-wide distributed consensus system. Bitcoin can be transmitted instantly with very low fees (often for free). Because the Bitcoin network is distributed, there is no central authority such as a bank or government.
Bitcoin is also a technology. Money is just the first application of Bitcoin; other applications include property registration, contract execution, fair voting, and crowd-funding.
Where can I spend bitcoin in Southeast Michigan?
What are altcoins?
Altcoins are alternative crypto-currencies. Many altcoins have their own blockchain, but some are metacoins which are built on other coins such as Bitcoin. Examples of altcoins are Litecoin, Dogecoin, Namecoin, and ethereum. You can see a list of popular altcoins at altcoins.com and coinmarketcap.com.
What is SHA-256? What is Scrypt?
SHA-256 and Scrypt are two different hashing algorithms used by crypto-currencies. Bitcoin uses SHA-256; some altcoins use SHA-256 and others use Scrypt. The hashing algorithm determines how blocks of transactions are added to the currency's blockchain, which is the public ledger of all transactions.
What are metacoins?
Metacoins are altcoins which are built on the blockchain of another coin. Some metacoins use protocols such as Colored coins, Mastercoin, and Counterparty to provide additional "second generation" functionality. This functionality may include escrow, support for multi-signature and "smart property".
We use donations to defray our costs, including our Meetup.com subscription. In the future we may also donate bitcoin to charity.
If you would like to donate to Michigan Bitcoiners, please send bitcoin to 1EcFNNKdA6veXF1imQpXbVMMhxG6R5MPNo