Crypto currencies like Bitcoin, Litecoin, Dogecoin, and many others are going to be the way to pay for everything you need in the near future. Set up correctly, your money will be anonymous and Big Governments will have a hard time tracking your currency, which is why they hate Crypto Currencies like Bitcoin.

Bitcoin and Litecoin have been the top contenders for Crypto currencies. However, the new Auroracoin from Iceland appears to be nudging Litecoin out of second place and becoming the new Silver Standard.

Bitcoin has been referred to as the Gold Standard and Litecoin as the Silver Standard in Crypto Coins. Read more about the Auroracoin with links to articles lower down on this page.

To get an idea of how many types of Crypto Coins there are, go to this link: CoinWarz.com

NEWS FLASH:
The Central Banks are at it again. Using the SEC to do their dirty work, as well as the Federal Government, is saying that Bitcoin is not legal tender and that the use and exchange of this virtual currency could be restricted by any government. Read about it here: (http://bit.ly/1qnDKQg) Hurray for the Big Bankers and the Feds for trying once again to scare the public into thinking that Crypto Currency is such a bad thing. The truth of the matter is that the wealthy minority of the Worlds money supply want to keep and continue to manipulate trillions of dollars in their favor at the public's expense, getting us deeper and deeper into debt, with no way out. If you really want to know how the banking system around the World is being manipulated, you only have to watch one movie, (The Secret of OZ) at:
https://www.youtube.com/watch?v=U71-KsDArFM. You need to watch it to the end and watch it again if you don't fully understand how the real banking system works and what we can be done for every Nation and individual to get out of DEBT FOREVER! The thought of Crypto Currency has the Central Banker Families coming out of their rat holes and putting economic pressure on every politician they can scare and or bribe into keeping the bankrupt system we have in place now. Iceland has already said "NO" to the Central Banks that Crashed their economy around 2008, and have instituted their own Crypto Currency, The Auroracoin. Take that one one on the cheek you Banker Crooks!
Take notice that the use of Gold backing as currency is a fallacy. You will understand why after watching the movie. Gold can be manipulated by its scarcity by the people who control the majority of it and therefore, can control deflation and inflation at their whim, causing depressions, thus controlling Governments and their citizens.

One note, when comparing values of Bitcoin, use BitStamp or Coinbase, as your source of current value. Don't use MtGox as an indicator for real economic value. We won't discuss MtGox at this time because of the complicated and complex nature of the situation, which deserves a full chapter by itself.

I will be adding more information about the profitability of Crypto currencies like Bitcoin, Litecoin, Dogecoin, and many others as time permits. There are many misconceptions about these currencies and many negative stories about them as well. Consider the negative sources of the information dispensed. Larger Governments and the big Central Banks encourage all negative feedback concerning these coins. Governments because they can't get their hands on your money through taxation and Banks because they have no control over your money.

There is one exception to the statement above and that is the Country of Iceland, with their own Crypto-currency Auroracoin. They have initiated the new coins and are distributing some of them to all of their citizens at a value of about $360 to each person to get things rolling.
You can read about it through 2 links about Auroracoin further down the page.

If you still aren't sure how Bitcoin or other Crypto-Currencies work and how safe, they are, check out the video below (How Bitcoin Works under the Hood). But hold on to your hat, it's pretty technical, and should satisfy those people who need to know everything down to the nano details. If you would like a more simplified version, check out the video (Bitcoin for beginners) at the very bottom of the page:

HOW BITCOIN WORKS UNDER THE HOOD

For those of you already familiar with Bitcoin Mining, you know that you need a bank of computers now to make it worthwhile to continue mining and be profitable. However, there is a company that will let you participate in Cloudmining, without using your own hardware or electricity for a small fee and still make money. This may not be the best Video available, but it really gets the point across how CEX.IO works. Check out the video below:

Here is the link to CEX.I0 mentioned in the video:

CEX.10 Bitcoin Commodity Exchange

It seems that every time a new and beneficial innovation is created like the Internet or Bitcoin, Governments just can't wait to jump in and figure out a way to regulate it. Governments say it's for our own good... You believe that, right?
Read the Article below for some insight into what they are trying and how people are fighting back.