If you’re in the market for virtual reality gear you came to the right place. This guide aimed is to help you through the decision making process to pick the headset that’s right for your needs.
First, do you have a Windows gaming PC? If you have a Mac then you will want to look into a completely self contained system such as the Oculus Quest which started at $399.
Unlike other headsets that are tethered to PCs, the Quest is completely wireless and features six degrees of freedom (6DoF). This means it can track your movements up, down, left, right, forward, and backward as long as your space is well lit.
Recent features of the Quest headset include hand tracking and Oculus Link. If you have a gaming PC you can use regular desktop VR applications like SteamVR by connecting the Quest to the PC with a standard USB3 to USB C cable. There are $20 options on Amazon for a 10ft cable or you can spend $79 on the Oculus store for a fiber optic cable.
If you are in the market for a premium headset and have $1000 to spend then check out the Valve Index. The resolution of the Index is 1440 x 1600 per eye and carries a refresh rate of 120 Hz, almost twice that of Oculus Quest. The sound system and visual quality is very high quality. The Index knuckle controllers also track your fingers and hands so well that it almost feels natural.
The most important part of a PC build to power a desktop VR experience is the graphics card. You’ll need atleast a GeForce GTX 970+ or AMD RX480+ to power a wired VR headset, but if you’re spending $1000 on the Index you should aim for the GTX 1070 or higher for stable and smooth performance.
We hope that you find this guide useful. If you have any questions don’t hesitate to reach out and ask on our discord, the invite url is linked at bottom of nifties.com. See you in the Metaverse!
Altcoin - literally ‘Alternative to Bitcoin’ - is a term originally used to describe any cryptocurrency other than Bitcoin. The first altcoin was Namecoin, which launched in 2011.
Over time, however, some cryptocurrencies - notably Ethereum - gained sufficient prominence many people would not now label them altcoins. Similarly, following the 2017 ICO boom, which created thousands of new cryptocurrencies, altcoin also provided the basis for the more provocative ‘Shitcoin’.
An airdrop is the free distribution of a cryptocurrency. Sometimes this occurs when a project wants to reward its community for holding onto and not selling its tokens by regularly giving away more tokens.
Alternatively, it can be used as a promotion by a new project to piggyback another token’s community by giving away its tokens in the attempt to drive interest and adoption.
An address is a unique string of letters and numbers that defines a single blockchain account. Each blockchain has its own standards. For example, most Bitcoin addresses are 34 digits long, while Ethereum addresses are 42 digits long, starting 0x. (See also public key.)
AUGMENTED REALITY (AR)
Not directly related to blockchain, augmented reality is the visual layering of digital assets within a real-world view. Typically this is created by combining such assets with live video from a phone camera or headset as experienced in games such as Pokemon Go. This is in contrast to virtual reality, which places users within a fully digital environment.
A bad actor is someone who acts in a way that is detrimental to the overall well being of a system, typically a legal or financial system. By design, a high quality blockchain should be inherently secured against such activity
A block is simply a collection of stored data. It is created by many computers running a blockchain’s consensus software and hence agreeing which data is valid to be stored. The data stored in each new block must also be consistent will the data stored in all previous blocks - creating a chain of blocks or a blockchain. Once data has been saved into a block, it is almost impossible to change it.
The first and to-date most successful blockchain, Bitcoin was conceived in the 2008 whitepaper Bitcoin: A Peer-to-Peer Electronic Cash System. The first block was mined on 3 January 2009.
Every blockchain is operated using its own digital token (or currency), which uses a form of applied mathematics called cryptography to maintain its security, hence the term cryptocurrency.
Cold storage is when the details of cryptocurrency wallet are created and recorded in a manner that’s not connected to the internet, hence greatly reducing the likelihood of hacking. Examples include writing down details on paper, etching them into metal plates, or standalone hardware devices. (Ledger)
Literally ‘decentralized app’, a dapp is simply a product that runs on top of a blockchain and uses the blockchain’s smart contracts to transfer tokens and other digital assets between wallets.
Any artform that uses digital technology in its creation and hence can be distributed using computers can be termed digital art. The ease of this creation and distribution process raises significant issues in terms of ownership and provenance.
Any single piece of digital art created with an inherent or designated relationship to other pieces of digital art can be considered a collectible. In this way, the concept of the artwork is dependent on the completeness of the group, not the quality and value of the individual piece of digital art.
A fundamental problem for all digital currencies is how to ensure their underlying virtual assets aren’t used multiple times to pay for many transactions. The simplest solution is to have central nodes that maintain overall coherence. Blockchains solve this issue, however, by decentralizing such authority throughout all the nodes in the network.
A digital signature is any method which uses math to guarantee the contents of a message have not been changed in transit.
ERC20 is a protocol standard which defines how fungible tokens are created and operated on the Ethereum blockchain.
ERC721 is a protocol standard which defines how non-fungible tokens are created and operated on the Ethereum blockchain.
ERC1155 is a protocol standard which supports the ERC20 and ERC721 standards and hence enables fungible and non-fungible tokens to be combined and handled in a seamless manner, both in terms of their creation and operation on the Ethereum blockchain.
Launched in July 2015, Ethereum is the first blockchain which enables developers to build products (or dapps) on top of its network using smart contracts. To-date, it’s the second most valuable blockchain in terms of its market capitalization after Bitcoin.
Escrow is the process by which funds are submitted to, and then controlled by third party agent (such as a lawyer or a smart contract), until certain conditions are met. The funds are then sent to their new owners.
Available in both centralized (i.e. Binance - Coinbase) or decentralized (Uniswap) forms, exchanges are financial products where you can exchange the tokens of different cryptocurrencies, either for other cryptocurrencies or fiat currencies such as USD.
When the underlying code running a blockchain is changed in significant manner, it’s called fork. These new updates can either be backwards compatible with the old code - called a soft fork - or incompatible, which are called hard forks.
Fiat money is a currency created and controlled by a nation state such as the US dollar, Euro or Japanese Yen.
Fungibility is the ability of an object to be fully interchangeable with any similar object. For example, each one dollar bill is fungible with every other one dollar bill. In the case of blockchain, a fungible token is a blockchain asset (such as one Bitcoin) that can be interchanged with any similar asset (another Bitcoin).
In Ethereum, gas is the cost required to create and complete a transaction, which is measured in units called gwei: 1 gwei is worth 0.000000001 of Ethereum’s ETH cryptocurrency. Other blockchains such as Ontology use a separate, secondary cryptocurrency to pay gas fees. For example, its primary cryptocurrency is ONT, while its gas is paid using the GAS token.
Gwei is the measurement system used to define the cost of creating a transaction on the Ethereum blockchain. Because these transactions are relatively small, 1 gwei is worth 0.000000001 of Ethereum’s main ETH cryptocurrency.
A hashing algorithm turns a large amount of data into a fixed length numeric output, which does not resemble the original input and is called its hash. What’s important is running the algorithm on the same data always creates the same hash, while any changes to the dataset result in a totally different hash. This means the hash can be used as a unique representation of the original data, speeding up processing.
A hardware wallet is a physical device designed to hold the private key for a blockchain wallet (or address) in a secure manner. Hardware wallets are a safer way to hold private keys compared to a software-based soft wallet, although a byproduct of this additional security is a reduction in ease of use.
INTERNET OF THINGS
The Internet of Things is a broad trend in which a large number of physical objects are connected together to provide real-time information about a location or ecosystem.
On one level, this can be seen in the growing prevalence of online consumer electronics such as fridges, washing machines, cookers, heating and lighting systems, door bells, security cameras, and other domestic sensors. More radical implementations include adding sensors to livestock, tracking industrial supply chains, or monitoring environmental changes.
Microtipping is a way of rewarding content producers with very small amounts of value. It is popular in cryptocurrency culture, particularly using Bitcoin’s Lightning Network.
NON-FUNGIBLE TOKENS (NFTs/NIFTIES)
In contrast to a fungible token, which is interchangeable with any other similar token, a non-fungible token or NFT is a unique individual asset, which is secured by a blockchain.
A public or non-secret key is used in conjunction with a cryptographic algorithm to encrypt data. This can only be unlocked, or decrypted, using the matching private key, which should be kept secret. The keys themselves are long strings of numbers and letters, which are mathematically-related and form a pair. In the context of blockchain, someone’s wallet address is actually their public key.
In the form of cryptography used in most blockchains, a public key is used to encrypt data. This can only be unlocked, or decrypted, using the matching private key, which should be kept secret. The keys themselves are long strings of numbers and letters, which are mathematically-related and form a pair. They are used in conjunction with a cryptographic algorithm to encode and decode information.
A presale is when a content developer offers consumers the opportunity to buy into their project before it is formally launched. Typically this involves the sale of unique, or non-fungible, assets at a heavily discounted price.
A paper wallet is a method of storing a set of public and private keys to access a blockchain address (or wallet) by printing or writing down the keys on paper. The advantage is the private key isn’t connected to the internet (it’s a cold wallet) and so can’t be hacked. The disadvantage is that it requires a higher level of user expertise and paper is a fragile storage medium.
No-one knows who Satoshi Nakamoto is, or even if the title represents one or more real people. However, ‘Satoshi Nakamoto’ was the pseudonymous name used to author the Bitcoin white paper, launch the bitcoin.org website, create the original Bitcoin's code, and mine the first block. Satoshi’s involvement with Bitcoin (at least using that name) ended in mid-2010.
A smart contract is automated or self-executing computer code, which receives inputs and sends outputs according to its design. In the context of blockchain, a smart contract also is a blockchain address and the inputs and outputs are typically fungible and/or non-fungible tokens.
A cryptocurrency token both secures a blockchain against bad actors and provides users with the ability to transfer value. Examples of such fungible tokens include Bitcoin, ETH (for the Ethereum blockchain) and Tether. Other examples of blockchain tokens include unique non-fungible token such as a CryptoKitty or digital artwork.
A token offering is when a new blockchain or blockchain-based project allows people to purchase its tokens, typically at a highly discounted price. Examples include Initial Coin Offerings (ICOs), which were popular in 2017, and now Initial Exchange Offerings (IEOs), which is where tokens are sold through token exchanges such as Binance.
A time stamp is a method of precisely defining when an action took place. In the case of blockchain, time stamps are an inherent element in terms of recording when blocks are created and transactions made.
Some blockchains charge a fee for each transaction made. This depends on the consensus model used with proof-of-work blockchains such as Bitcoin and Ethereum being the most well-known examples requiring a transaction fee. In contrast, a blockchain such as EOS doesn’t charge transaction fees, instead limiting the number of transactions in terms of the amount of tokens staked.
Not directly related to blockchain, VR is the creation of a fully digital environment, typically viewed using a head mounted display and interacted with using peripherals such as hand controllers and external positioning sensors. This is in contrast to augmented reality, which mixes digital assets within a real-world environment.
In contrast to the object in which we keep our money, a blockchain wallet is better understood as being the ability to access a blockchain address using its secret private key. All the tokens accessed via the wallet are secured on blockchain itself, not held within the wallet.
This guide comes after learning the basics about Bitcoin and cryptocurrency and are ready to purchase your first coins.
SET UP A WALLET
The first step to acquiring any crypto is setting up a wallet. There's two kinds of wallets depending on your level of security and convenience for different amounts of money. Hot wallets are for smaller amounts to be easily spent. You can download a program like the Bitcoin App on android to quickly setup a bitcoin wallet. Important note, first thing you should do if you install a bitcoin wallet is backup your keys. You will be responsible for restoring your wallet incase anything happens to your phone.
Exchanges like Coinbase are also considered hot wallets because they hold your funds on their infrastructure and servers. Cold wallets are like savings accounts or steel vaults and are usually kept offline for long term storage. There are a number of hardware devices for cold storage to choose from, one such popular choice is the Ledger device.
BUYING CRYPTO ONLINE
First step is to make an account at an exchange, here's a list of top exchanges:
You can start directly buying cryptocurrency using your bank account or debit card only after verification, so have a photo ID ready. If you buy a large amount, then it's recommended to transfer the coins held on the exchange to a cold wallet. Cryptocurrency is all about ownership so leaving your money on an exchange sorta defeats the purpose.
BUYING CRYPTO IN PERSON
Find an ATM machine near you using a website service like Coinatmradar. Word of advice, the fees can be sometimes be high for the convenience.