For discussion about Litecoin, the leading cryptocurrency derived from Bitcoin. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining.
Cost to mine 1 Bitcoin is now $14,000 USD. "Bitcoin Price Chart Fractal Seen in 2019 Hints at $14K Within Months". I bet BTC price ascends to $14,000 in next 30 days! NewYorkCoin (NYC) is a faster, no fee version of Litecoin since 2014! Official New York Coin nycoin.net | newyorkcoin.net
Bitcoin price NOW is likely the lowest it will ever be in our lifetime. Cost to BUY 1 BTC is now LESS THAN cost to mine 1 BTC. Approx $7,000 USD. In 2 short months, the cost to mine 1 Bitcoin will DOUBLE. ❤️ BUY BTC TODAY ❤️ New York Coin (NYC) is a faster, free version of Bitcoin and Litecoin.
1 BTC = 64 000 USD would be > $1 trillion market cap - versus $7 trillion market cap for gold, and $82 trillion of "money" in the world. Could "pure" Bitcoin get there without SegWit, Lightning, or Bitcoin Unlimited? Metcalfe's Law suggests that 8MB blocks could support a price of 1 BTC = 64 000 USD
Graph - Visualizing Metcalfe's Law: The relationship between Bitcoin's market cap and the square of the number of transactions
Bitcoin has its own E = mc2 law: Market capitalization is proportional to the square of the number of transactions. But, since the number of transactions is proportional to the (actual) blocksize, then Blockstream's artificial blocksize limit is creating an artificial market capitalization limit!
Bitcoin's market price is trying to rally, but it is currently constrained by Core/Blockstream's artificial blocksize limit. Chinese miners can only win big by following the market - not by following Core/Blockstream. The market will always win - either with or without the Chinese miners.
Some people are worried that SegWit would over-complicate the code, and Lightning will create centralized, censorable hubs
Other people are worried that Bitcoin Unlimited would give too much control to miners.
Maybe both groups of people could agree on a "minimal change" approach. What if we simply change the "max blocksize" from 1 MB to 8 MB - and leave everything else unchanged? Then...
Nobody would have to worry about "unknown game theory" involving Bitcoin Unlimited
And nobody would have to worry about "technical debt" involving SegWit, or "centralized hubs" with Lightning.
It be great if we could get to $1 trillion market cap the simple and safe way - just by following Satoshi's vision. You Do The Math - u/ydtm ! Just for the fun of it, we can estimate some rough projections for the next four years - up until the time of the next "halving":
1.68 * 1.68 * 1.68 * 1.68 = 8, so let's say that blocksize goes up 1.68x (ie 68%) per year, or 8x over four years.
2.83 * 2.83 * 2.83 * 2.83 = 64, so let's say that price goes up 2.83x (ie 183%) per year, or 64x over four years.
These certainly aren't "outrageous" estimates - in fact, they're fairly conservative and realistic - especially given the ongoing problems in the "legacy" system of "fiat" currencies (devaluation, war on cash, hyperinflation, bank bail-ins, gold confiscation, etc.) So, with minimal alterations (simply changing a "1" to an "8" in the code, and making any other associated changes), after 4 years of this kind of realistic projected growth, Bitcoin could be in a very, very good place. By 2020-2021, Bitcoin price could be on the moon - and Bitcoin "full nodes" could be decentralized all over the face of the Earth
Bitcoin price over 60 000 USD
Bitcoin market cap over $1 trillion USD
Bitcoin blocksize around 8 MB - which the vast majority of users would easily be able to download every 10 minutes (even behind Tor)
This might be the simplest and safest path to success for Bitcoin right now. Money Bandwidth makes the world go around Installing broadband is not "rocket science". It's just laying some "dumb" cables.
The farmer who built her own broadband
https://np.reddit.com/technology/comments/5khs33/the_farmer_who_built_her_own_broadband/ http://www.bbc.com/news/technology-37974267 If Bitcoin-over-broadband turns out to be the "gateway" to financial freedom (allowing people to run their own full / validating / non-mining Bitcoin nodes)... ...then Bitcoin itself could end up being the "great motivator" that unleashes a mad race where communities all around the world lay cables in the ground - due to pressure from people who need Bitcoin in order to ensure their financial freedom for themselves and their families.
"What if every bank and accounting firm needed to start running a Bitcoin node?" – bdarmstrong (Brian Armstrong, founder & CEO of Coinbase)
https://np.reddit.com/btc/comments/3zaony/what_if_every_bank_and_accounting_firm_needed_to/ Note: The estimate of $82 trillion of "money" in the world came from a recent article in the Financial Times of London, quoting a study done by the CIA in 2014. TL;DR: I am one of the biggest pessimists about most things in the world. But I'm a big optimist about Satoshi's Bitcoin - and about its ability to the moon while staying decentralized - with almost no changes to the existing code. UPDATE: WARNING: A certain well-known person, who always gets massively downvoted on this more-free sub, is commenting below (and getting massively downvoted as usual), trying to deploy the "scare tactic" of "OMG DATACENTERS!!!1!" - which is actually a straw man (ie, it's a non-issue). Please remember that the OP is based specifically on a 8 MB blocksize - which would not need the dreaded DATACENTERS!!!1!" - because a sufficient number of people in the world can already download 8 MB in 10 minutes (even behind Tor) on their home Internet connections. So beware of trolls / disruptors who trot out this straw man / scare tactic of "DATACENTERS!!!1!". This is tired piece of propaganda on their part - which has been debunked repeatedly - but they still keep trying to scare people with this non-issue. The whole idea of this OP is to argue that we can potentially get to around 50 000 - 60 000 USD per coin, and $1 trillion market cap - merely by allowing the blocksize to grow from 1 MB to 8 MB - and not changing anything else in the code - no SegWit (although solving transaction malleability and quadratic time could certainly be added at some point), no Lightning - no Bitcoin Unlimited - and... no datacenters. Satoshi's Bitcoin is a really massive success after just 8 years - and the ballpark figures in this OP suggest that it can be a really, really, really, really massive success in something like 4 more years - by making only a tiny, Satoshi-approved change to the code (changing the "max blocksize" from 1 MB to 8 MB), and doing no "weird stuff" - no SegWit-as-a-spaghetti-code-Soft-Fork, no Lightning-centralized-hubs, and no Dreaded Datacenters! Don't mess with success! And don't listen to trolls lying and saying that 8 MB blocks would need DATACENTERS!!!1! Remember: If you can download 8 MB in 10 minutes at home - preferably behind Tor - then you can run a full node - potentially supporting numbers in the ballpark of USD 50 000 - 60 000 per coin, $1 trillion market cap - with lots of other users like you running nodes around the world - and no major changes to today's code (just changing 1 MB to 8 MB) - and no DATACENTERS!!!1!
Neutro Yellow Paper — “Reaching a Consensus Regarding Blockchain-exogenous values” chapter This chapter of the Yellow Paper is pretty easy, I believe, to understand, so we won’t dive into the ideas presented there. If I were to give a very short-version presentation of the concept, I would ask and answer two questions about it: I. How does it work? The voters can include a limited amount of data, any data, in their votes. In each main-chain block a Schelling Point scheme is performed. Votes that voted too far from the outcome of that Schelling Point scheme are prevented from voting for some time. That time depends on how far were they from that outcome (median of values voted for a given data point). Smart contracts, in turn, can include in their logic simple IF… THEN rule, where the condition to be met is meeting some threshold of votes in some period of time (range of blocks) that voted for some value and, depending on the outcome of that Schelling Point scheme, a certain logic of the smart contract is executed. Let’s say: if >x votes voted for some value during a period from block Y to block Z and the outcome of that is >1, then all the Neutro tokens allocated in the smart contract would be sent to address A; if it’s <1, they would be sent to address B. Smart contracts publish information about how much they are willing to pay for a certain data (e.g. for one vote, voting for a specific value) and they’ll need to pay once that data is provided by a voter in a proper way; voters, in turn, can include in their votes information on how much they want for the data they include. Once conditions from both sides are met, everything works. II. Why it works? For two reasons. Firstly, the smart contract can put an arbitrarily big requirement for the amount of votes that must vote for a specific value in order for the smart contract’s programmed logic to be executed — the bigger this amount, the more of the consensus-reaching network is engaged in the process and the more difficult it is to corrupt that subset of network participants. Secondly, the engaged values’ validators are unknown beforehand, before the actual validation of value takes place using the Schelling Point scheme. So, logically, if you engage 80% of the network to validate some value, you would need to corrupt (ok, that’s a big simplification, but we won’t do math for that) about half of that; you would need to corrupt 40% of the network (voters in our case). And those voters are unknown, anonymous. They are also invested in the network in long-term, because of the nature of validation tokens as a share in future expansion of the main Neutro token supply (described in detail in the Yellow Paper). How are you going to corrupt them? Ok, fine. But why do we need the censorship-resistant, corruption-resistant and decentralized way of reaching consensus on external values, like the weather in California on 1st May 2021 or price of 1 Bitcoin in USD on 20th March 2024? Why would the smart contract need it, if we have oracles? Well, oracles are centralized. If you have a decentralized Daap that uses a centralized Oracle for its functioning, then you’re no better than a centralized service provider. You are no more decentralized, no more censorship-resistant, no more manipulation-resistant than Facebook for example. Not even a bit. And for most applications it’s fine, but blockchain was created to be trustless; trust necessitates power and blockchain is, was and will always be about taking trust along with power from the equation. So if you want to create a decentralized exchange, insurance company or plain betting platform on the blockchain and create it in such a way that it is trustless — you’ll need this. Blockchains that allow for Daaps are like a “world computer” (that’s a great comparison made by Ethereum for the first time, I believe — correct me if I’m wrong). But how great is your computer without an access to the Internet? It’s fine for some things, maybe writing some documents or something. But you would agree that it’s no more that maybe 5% of the device’s potential once it’s connected to the Internet, wouldn’t you? So it is with blockchain. We want a trustless way of data-feeding with external data, we want to make a “world computer that’s connected”. So that’s the difference. Neutro WRITTEN BY
AXA/Blockstream are suppressing Bitcoin price at 1000 bits = 1 USD. If 1 bit = 1 USD, then Bitcoin's market cap would be 15 trillion USD - close to the 82 trillion USD of "money" in the world. With Bitcoin Unlimited, we can get to 1 bit = 1 USD on-chain with 32MB blocksize ("Million-Dollar Bitcoin")
TL;DR:
Blockstream (fiat-financed by companies like AXA - which happens to be the 2nd-most connected financial firm in the world) is suppressing Bitcoin price - currently at 1000 "bits" = 1 USD (where 1 "bit" is one-millionth of a bitcoin) - ie 1 BTC = 1000 USD.
They're doing this by suppressing Bitcoin volume - by suppressing Bitcoin blocksize - in order to prevent debt- & war- & oil-backed fiat currencies (USD, etc.) from collapsing relative to Bitcoin.
AXA/Blockstream's suppression of the Bitcoin price is easy to see in Bitcoin price/volume graphs: Bitcoin price and volume were tightly correlated (almost in lockstep) until late 2014 - which is when Blockstream came on the scene. From then on, the price has been suppressed - due to AXA/Blockstream spreading their lies and propaganda that "Bitcoin can't scale on-chain".
The way to stop AXA/Blockstream's Bitcoin price suppression and let the Bitcoin price continue to rise again... is to let Bitcoin volume continue to rise again - by letting Bitcoin blocksize continue to rise again - by using the market-based blocksize supported by Bitcoin Unlimited.
We actually can reach 1 bit = 1 USD or 1 BTC = 1'000'000 USD ("Million-Dollar Bitcoin") on-chain. All it would require is (a) the price doubling 10 times (210 = 1024), and (b) the blocksize increasing by the square root of this (in accordance with Metcalfe's Law) - ie the blocksize would have to double only five times (25 = 32).
25 = 32 MB blocksize (which Satoshi actually did hard-code) would support 210 = 1000x higher price on-chain ("Million-Dollar Bitcoin") - without requiring off-chain pseudo-Bitcoin Lightning Network Central Banking Hubs!
~ YouDoTheMath u/ydtm Details: (1) Who is AXA? Why and how would they want to suppress the Bitcoin price?
Blockstream is now controlled by the Bilderberg Group - seriously! AXA Strategic Ventures, co-lead investor for Blockstream's $55 million financing round, is the investment arm of French insurance giant AXA Group - whose CEO Henri de Castries has been chairman of the Bilderberg Group since 2012.
If Bitcoin becomes a major currency, then tens of trillions of dollars on the "legacy ledger of fantasy fiat" will evaporate, destroying AXA, whose CEO is head of the Bilderbergers. This is the real reason why AXA bought Blockstream: to artificially suppress Bitcoin volume and price with 1MB blocks.
The insurance company with the biggest exposure to the 1.2 quadrillion dollar (ie, 1200 TRILLION dollar) derivatives casino is AXA. Yeah, that AXA, the company whose CEO is head of the Bilderberg Group, and whose "venture capital" arm bought out Bitcoin development by "investing" in Blockstream.
Greg Maxwell used to have intelligent, nuanced opinions about "max blocksize", until he started getting paid by AXA, whose CEO is head of the Bilderberg Group - the legacy financial elite which Bitcoin aims to disintermediate. Greg always refuses to address this massive conflict of interest. Why?
Who owns the world? (1) Barclays, (2) AXA, (3) State Street Bank. (Infographic in German - but you can understand it without knowing much German: "Wem gehört die Welt?" = "Who owns the world?") AXA is the #2 company with the most economic poweconnections in the world. And AXA owns Blockstream.
This trader's price & volume graph / model predicted that we should be over $10,000 USD/BTC by now. The model broke in late 2014 - when AXA-funded Blockstream was founded, and started spreading propaganda and crippleware, centrally imposing artificially tiny blocksize to suppress the volume & price.
This graph shows Bitcoin price and volume (ie, blocksize of transactions on the blockchain) rising hand-in-hand in 2011-2014. In 2015, Core/Blockstream tried to artificially freeze the blocksize - and artificially froze the price. Bitcoin Classic will allow volume - and price - to freely rise again.
Also see a similar graph in u/Peter__R's recent article on Medium - where the graph clearly shows the same Bitcoin price suppression - ie price uncoupling from adoption and dipping below the previous tightly correlated trend - starting right at that fateful moment when Blockstream came on the scene and told Bitcoiners that we can't have nice things anymore like on-chain scaling and increasing adoption and price: late 2014.
Graph - Visualizing Metcalfe's Law: The relationship between Bitcoin's market cap and the square of the number of transactions
Bitcoin has its own E = mc2 law: Market capitalization is proportional to the square of the number of transactions. But, since the number of transactions is proportional to the (actual) blocksize, then Blockstream's artificial blocksize limit is creating an artificial market capitalization limit!
1 BTC = 64 000 USD would be > $1 trillion market cap - versus $7 trillion market cap for gold, and $82 trillion of "money" in the world. Could "pure" Bitcoin get there without SegWit, Lightning, or Bitcoin Unlimited? Metcalfe's Law suggests that 8MB blocks could support a price of 1 BTC = 64 000 USD
https://np.reddit.com/btc/comments/5lzez2/1_btc_64_000_usd_would_be_1_trillion_market_cap/ (3) "But no - they'd never do that!" Actually - yes, they would. And "they" already are. For years, governments and central bankers have been spending trillions in fiat on wars - and eg suppressing precious metals prices by flooding the market with "fake (paper) gold" and "fake (paper) silver" - to prevent the debt- & war-backed PetroDollar from collapsing.
The owners of Blockstream are spending $76 million to do a "controlled demolition" of Bitcoin by manipulating the Core devs & the Chinese miners. This is cheap compared to the $ trillions spent on the wars on Iraq & Libya - who also defied the Fed / PetroDollar / BIS private central banking cartel.
JPMorgan suppresses gold & silver prices to prop up the USDollar - via "naked short selling" of GLD & SLV ETFs. Now AXA (which owns $94 million of JPMorgan stock) may be trying to suppress Bitcoin price - via tiny blocks. But AXA will fail - because the market will always "maximize coinholder value"
Why did Blockstream CTO u/nullc Greg Maxwell risk being exposed as a fraud, by lying about basic math? He tried to convince people that Bitcoin does not obey Metcalfe's Law (claiming that Bitcoin price & volume are not correlated, when they obviously are). Why is this lie so precious to him?
If you had $75 million invested in Blockstream, and you saw that stubbornly freezing the blocksize at 1 MB for the next year was clogging up the network and could kill the currency before LN even had a chance to roll out, wouldn't you support an immediate increase to 2 MB to protect your investment?
[Tinfoil] What do these seven countries have in common? (Iraq, Syria, Lebanon, Libya, Somalia, Sudan, and Iran) In the context of banking, one that sticks out is that none of them is listed among the 56 member banks of the Bank for International Settlements (BIS).
"Notice how anyone who has even remotely supported on-chain scaling has been censored, hounded, DDoS'd, attacked, slandered & removed from any area of Core influence. Community, business, Hearn, Gavin, Jeff, XT, Classic, Coinbase, Unlimited, ViaBTC, Ver, Jihan, Bitcoin.com, btc" ~ u/randy-lawnmole
"I was initially in the small block camp. My worry was decentralization & node count going down as a result. But when Core refused to increase the limit to 4MB, which at the time no Core developer thought would have a negative effect, except Luke-Jr, I began to see ulterior motives." u/majorpaynei86
Satoshi Nakamoto, October 04, 2010, 07:48:40 PM "It can be phased in, like: if (blocknumber > 115000) maxblocksize = largerlimit / It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete."
The debate is not "SHOULD THE BLOCKSIZE BE 1MB VERSUS 1.7MB?". The debate is: "WHO SHOULD DECIDE THE BLOCKSIZE?" (1) Should an obsolete temporary anti-spam hack freeze blocks at 1MB? (2) Should a centralized dev team soft-fork the blocksize to 1.7MB? (3) OR SHOULD THE MARKET DECIDE THE BLOCKSIZE?
"Bitcoin Unlimited ... makes it more convenient for miners and nodes to adjust the blocksize cap settings through a GUI menu, so users don't have to mod the Core code themselves (like some do now). There would be no reliance on Core (or XT) to determine 'from on high' what the options are." - ZB
Bitcoin Unlimited is the real Bitcoin, in line with Satoshi's vision. Meanwhile, BlockstreamCoin+RBF+SegWitAsASoftFork+LightningCentralizedHub-OfflineIOUCoin is some kind of weird unrecognizable double-spendable non-consensus-driven fiat-financed offline centralized settlement-only non-P2P "altcoin"
The Nine Miners of China: "Core is a red herring. Miners have alternative code they can run today that will solve the problem. Choosing not to run it is their fault, and could leave them with warehouses full of expensive heating units and income paid in worthless coins." – tsontar
ViABTC: "Why I support BU: We should give the question of block size to the free market to decide. It will naturally adjust to ever-improving network & technological constraints. Bitcoin Unlimited guarantees that block size will follow what the Bitcoin network is capable of handling safely."
Fun facts about ViaBTC: Founded by expert in distributed, highly concurrent networking from "China's Google". Inspired by Viaweb (first online store, from LISP guru / YCombinator founder Paul Graham). Uses a customized Bitcoin client on high-speed network of clusters in US, Japan, Europe, Hong Kong.
Bitcoin's specification (eg: Excess Blocksize (EB) & Acceptance Depth (AD), configurable via Bitcoin Unlimited) can, should & always WILL be decided by ALL the miners & users - not by a single FIAT-FUNDED, CENSORSHIP-SUPPORTED dev team (Core/Blockstream) & miner (BitFury) pushing SegWit 1.7MB blocks
The number of blocks being mined by Bitcoin Unlimited is now getting very close to surpassing the number of blocks being mined by SegWit! More and more people are supporting BU's MARKET-BASED BLOCKSIZE - because BU avoids needless transaction delays and ultimately increases Bitcoin adoption & price!
I think the Berlin Wall Principle will end up applying to Blockstream as well: (1) The Berlin Wall took longer than everyone expected to come tumbling down. (2) When it did finally come tumbling down, it happened faster than anyone expected (ie, in a matter of days) - and everyone was shocked.
The three biggest Bitcoin wallets contain over 99974 Bitcoins, even at today’s low Bitcoin price of $6772 the three wallets are worth between $677 billion and $1.26 billion USD each. In comparison, the world’s richest individual, Jeff Bezos, is currently valued at $112 billion USD.
The absolute maximum USD price of Bitcoin is 1 10^200 USD per Bitcoin after which we will need to fork Reddit to increase the 300 character limit to be able to put the full price in the title box. We need to start the consensus process to fork Reddit ASAP if we want to be ready on time!!!!! /r/btc
Historically, Bitcoin price has been roughly proportional to the *square* of Bitcoin volume (blocksize) - due to the "network effect" or "Metcalfe's Law". This table suggests we could get to 1 BTC = 1 million USD in just 8 years - with no code changes, and moderate blocksize growth and price growth.
Here's how the actual numbers would look each year - starting from a "baseline" of 1000 USD price and 1 MB blocksize in 2017:
Year
Blocksize (up 1.54x per year)
Price (up 1.542 = 2.37x per year)
2017
1.000 MB
1,000 USD
2018
1.542 MB
2,371 USD
2019
2.378 MB
5,623 USD
2020
3.668 MB
13,335 USD
2021
5.657 MB
31,623 USD
2022
8.724 MB
74,989 USD
2023
13.454 MB
177,828 USD
2024
20.749 MB
421,697 USD
2025
32.000 MB
1,000,000 USD
Where do the "magic numbers" 1.54 and 2.37 come from? We want to see whether the following growth rates seem realistic / feasible:
Bitcoin volume ie blocksize would increase roughly 32x in 8 years
Bitoin price would increase by the square of that in 8 years - ie, roughly 1000x in 8 years - from 1,000 USD to 1,000,000 USD.
So, we take the "8th root" of 32 (to get the annual blocksize increase) and the "8th root" of 1000 (to get the annual price increase):
321/8 = 1.54x annual blocksize increase
10001/8 = 2.37x annual blocksize increase
Also, as we know, 32 * 32 = 1024. So 32 is roughly the square root of 1000 - ie price increasing 1000x in 8 years is roughly proportional to the square of blocksize increasing 32x in 8 years. This is of course just a rough projection! "Past performance does not guarantee future results." However, this kind of rough projection can be useful to provide a concrete illustration of how a safe and simple on-chain scaling roadmap could easily get us to 1 BTC = 1 million USD within the next two 4-year "halvings" - based on actual historical growth trends, and without any controversial code changes. Below are some previous posts showing that Bitcoin price has been roughly proportional to the square of Bitcoin volume (blocksize) - and showing that Bitcoin should be able to support gradual blocksize growth:
Bitcoin has its own E = mc2 law: Market capitalization is proportional to the square of the number of transactions. But, since the number of transactions is proportional to the (actual) blocksize, then Blockstream's artificial blocksize limit is creating an artificial market capitalization limit!
This trader's price & volume graph / model predicted that we should be over $10,000 USD/BTC by now. The model broke in late 2014 - when AXA-funded Blockstream was founded, and started spreading propaganda and crippleware, centrally imposing artificially tiny blocksize to suppress the volume & price.
Bitcoin Original: Reinstate Satoshi's original 32MB max blocksize. If actual blocks grow 54% per year (and price grows 1.542 = 2.37x per year - Metcalfe's Law), then in 8 years we'd have 32MB blocks, 100 txns/sec, 1 BTC = 1 million USD - 100% on-chain P2P cash, without SegWit/Lightning or Unlimited
Core/Blockstream is living in a fantasy world. In the real world everyone knows (1) our hardware can support 4-8 MB (even with the Great Firewall), and (2) hard forks are cleaner than soft forks. Core/Blockstream refuses to offer either of these things. Other implementations (eg: BU) can offer both.
Gavin Andresen: "Let's eliminate the limit. Nothing bad will happen if we do, and if I'm wrong the bad things would be mild annoyances, not existential risks, much less risky than operating a network near 100% capacity." (June 2016)
21 months ago, Gavin Andresen published "A Scalability Roadmap", including sections called: "Increasing transaction volume", "Bigger Block Road Map", and "The Future Looks Bright". This was the Bitcoin we signed up for. It's time for us to take Bitcoin back from the strangle-hold of Blockstream.
05-26 19:22 - 'The price of 1 DOGECOIN in USD == % chance of being murdered in the US' (self.Bitcoin) by /u/gwerks69 removed from /r/Bitcoin within 24-34min
Home for sale in Bitcoin Located in the Los Angeles suburb of Encino, 3bd, 2bath. Message for more info. I am the owner and a crypto enthusiast. Price is the equivalent of $1.65 M in USD based on Coinbase spot price. Thanks
Home for sale in Bitcoin Located in the Los Angeles suburb of Encino, 3bd, 2bath. Message for more info. I am the owner and a crypto enthusiast. Price is the equivalent of $1.65 M in USD based on Coinbase spot price. Thanks
Home for sale in Bitcoin Located in the Los Angeles suburb of Encino, 3bd, 2bath. Message for more info. I am the owner and a crypto enthusiast. Price is the equivalent of $1.65 M in USD based on Coinbase spot price. Thanks
Facts About Cryptocurrency Wallet And Exchange That Will Blow Your Mind
As we all know the denomination of a bitcoin is getting keener day by day. A bitcoin can be explained as a form of electrical cash. This centralized currency is being used on a wage scale. In addition to this, the thing that matters is, the price of a bitcoin gets higher and low almost every day. Malaysia is one of the most worthy countries which uses Bitcoin and other virtual currencies in a very promising way. Moreover, the price of a bitcoin also differs at each currency state. So, today we are going to collaborate on the sensational price of a bitcoin in ringgit and USD. Bitcoin price today in ringgit. A ringgit is a currency that presents the Malaysian standard. Or we can say that it's a Malaysian dollar. Ringgit is used in the national bank of Malaysia on a wage scale. As I mentioned that the price of a bitcoin differs in each currency flow. Similarly, the price of a bitcoin in ringgit also changes probably each day. So are you interested in converting 1 bitcoin into the Malaysian currency (ringgit) In addition to this crypto-currency exchange plays a great role in the denominational price a bitcoin? A bitcoin is the most essential cash flow, the main motto of a bitcoin is to perform financial transactions very anonymously. Because of this importance, the rational price of a bitcoin differs daily if we come towards the price of a bitcoin in ringgit today, so it is: 1 bitcoin = 15,884.19 Malaysian ringgits. If we have a look at the month of December so the price of bitcoin was having 19.844% changes in it which effectively has a great effect on the cash flow market. Bitcoin price in USD If we come over the importance of a bitcoin in America. So, like another well-trading countries bitcoin has great importance in America as well. Same as ringgit the cash price of bitcoin also differs every day even in USD. America is one of the greatest trading countries and its virtual trading sensation is working in a great firm. America is just like a helping hand for the trading sectors. So virtual currencies play a great role in this field. In addition to this, a bitcoin has a special value in the American trading sector. If we come over the today price of a bitcoin in USD so it is mentioned below: - 1 Bitcoin = 3870.75 USD. Despite this, if we come over the market cap of a bitcoin is it is about67,555,094,056 USD. In USD bitcoin is having this market cap often. In addition to this, the bitcoin is having a great supply overall America people there understand the ripple categories of cash follow and they order a number of bitcoins. Collectively the maximum supply of a bitcoin overall America is about 17,452,712 bitcoins and it's undoubtedly a big deal.
How to get the 'average weighted average' for a given month?
I want to compare the price of 1 bitcoin in USD to the American Consumer Price Index. Is there a place where I can find the 'average weighted average' for a given month?
Weekly update. 437 BTC were traded using LocalBitcoin last week,trading Bs. /BTC and BTC/Bs. (Bolivares, Venezuelan "official" currency, ISO VES). These 437 BTC were 1,852,000,000,000 Bs. One BTC is around 4,600,000,000 Bs. Monthly minimum wage is less 2 USD. PhD uni professor earns 4 USD monthly.
Hi guys, wanted to updated last week numbers. This is only measured in BTC and LocalBitcoins. There are other exchanges that accept Bolivares like Binance and Airtm but I think they dont have a open API. Paxful stoped working here a few weeks ago. And remember, two years ago 5 zeroes were deleted from the currency. So the price of the BTC would be 460,000,000,000,000 "old" Bs. September will closed with around USD 20,000,000 (around 2000 BTC) traded with LocalBitcoin Here are more stats https://www.usefultulips.org/combined_VES_Page.html Monthly minimum wage is 800,000 Bs. one USD is around 440,000 Bs. So that is where the 2 USD monthly comes. These 800,000 Bs. already include a cash food bonus. https://www.caracaschronicles.com/ Moons, tips and work by reddits have helped me so much! Some people insist that minimum monthly wage is not real, but it is. I have relatives that are public workers and earn that. Some with studies and time working could reach 20 minimum wages according to the tables, that would be anyway under 50 USD monthly. Private companies, well a little more. A cashier in a supermarket could earn around 50 USD monthly. The Venezuela College of Engineers, has a table for the recomended wages. The minimum wage they propose for a engineer without any experiencie is 90,000,000 Bs. / monthly, which is around 200 USD. And... good luck finding a place that pays that http://www.civ.net.ve/uploaded_pictures/70_d.pdf One professor with PhD, national science award and 21 years teaching earns less than 4 USD monthly. You can see the testimony here https://twitter.com/katika48/status/1304506604147159040?s=19 (I think you have the option to trasnlate the tweet) The average income of Venezuelan is 0.72 USD daily (2020 numbers), so we are talking around 20 USD monthly, and that is an AVERAGE with all that means. https://www.caracaschronicles.com/2020/07/08/yes-venezuela-is-now-the-poorest-country-in-the-americas/ Any question let me know, AMA. But check my links and sources first. Sources: https://www.npr.org/sections/goatsandsoda/2019/09/06/757822363/a-doctor-or-nurse-might-earn-6-a-month-in-venezuela-if-theyre-lucky https://coin.dance/volume/localbitcoins/VES/BTC LBTC listings https://localbitcoins.com/buy-bitcoins-online/ves/
$wANATHA Wrapped Anatha - New DeFi mainnet w/ $4.5M Liquidity on uniswap on Oct 1
Looks like a proven, public team of bitcoin miners and old school crypto heads launching a live mainnet, usable wallet app and upcoming defi platform all while not having sold any presale tokens to investors and no founder unlocks. Wrapped $ANATHA / $wANATHA TLDR:
$0 in tokens sold in presale to anyone.
0 unlocked tokens for team members to sell during Uniswap listing.
Launching a Cosmos / Tendermint powered network and defi wallet solution in Oct 2020 of the Wrapped $Anatha ($wANATHA) Uniswap listing.
$4.5M USD value of ETH in Uniswap Liquidity, paired with 300M $wANATHA.
Uniswap Listing on October 1, 2020 at an undisclosed time.
~$0.05 USD value of ETH target starting price
Transparent Liquidity Withdraw Schedule: 100% Locked for 1 month, followed by an 11 month linear, optional withdraw capability.
You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute. Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here. Potential upcoming protocol improvements and scaling resources here and here. The number of times Bitcoin was declared dead by the media can be found here (LOL!)
Key properties of Bitcoin
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.
Secure - Encrypted cryptographically and can’t be brute forced or confiscated with proper key management such as hardware wallets.
Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being met
Nearly instant - From a few seconds to a few minutes depending on need for confirmations. Transactions are irreversible after one or more confirmations.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply memorizing a string of words for wallet recovery (while cool this method is generally not recommended due to potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for new users due to ease of use and additional security).
Scalable - While the protocol is still being optimized for increased transaction capacity, blockchains do not scale very well, so most transaction volume is expected to occur on Layer 2 networks built on top of Bitcoin.
Divisible - Each bitcoin can be divided down to 8 decimals, which means you don't have to worry about buying an entire bitcoin.
Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
Securing your bitcoins
With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".
Where can I spend bitcoins?
Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
There are several benefits to accepting bitcoin as a payment option if you are a merchant;
1-3% savings over credit cards or PayPal.
No chargebacks (final settlement in 10 minutes as opposed to 3+ months).
Accept business from a global customer base.
Increased privacy.
Convert 100% of the sale to the currency of your choice for deposit to your account, or choose to keep a percentage of the sale in bitcoin if you wish to begin accumulating it.
If you are interested in accepting bitcoin as a payment method, there are several options available;
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.
Earning bitcoins
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.
Bitcoin-Related Projects
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit
Symbol
Value
Info
bitcoin
BTC
1 bitcoin
one bitcoin is equal to 100 million satoshis
millibitcoin
mBTC
1,000 per bitcoin
used as default unit in recent Electrum wallet releases
bit
bit
1,000,000 per bitcoin
colloquial "slang" term for microbitcoin (μBTC)
satoshi
sat
100,000,000 per bitcoin
smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
0.001 BTC
1 mBTC
1,000 bits
100k sats
For more information check out the Bitcoin units wiki. Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy!
Zelle (Use the Zelle app or your mobile banking app to send money via email U.S. only How It Works)
Amazon Gift Card
Bitcoin
Ethereum
Credit Cards (Please make sure you include your email when paying with CC)
PayPal (Buyer pays fee)
Venmo
Please make sure you look at my most recent thread for updated prices and products
Currently giving 10% off when Bitcoin and Ehtereum is used!!
Need Win 10 for 100+ Machines? Ask me for details
Adobe Creative Cloud 1 Year Keys in stock!
Amazon Gift Cards MUST come from the Amazon.com website as an E-Gift card and must be emailed from Amazon's website. I will no longer be accepting codes sent in the reddit PM by the buyer
How to convert Windows Server 2016 Evaluation to licensed Click Here
How to Convert Windows Server 2019 Evaluation Click Here
NEED OFFICE 2013/2016/2019 FOR MORE THAN 10 MACHINES? ASK ME!
HOW TO BUY
Search the table below for what you would like to purchase and click your payment method. Press Send in the opened page and you are done. You will then be contacted shortly. Or Click here to send me a custom message if you're paying with Ethereum
If you haven't received the key(s) from me within 24 hours message me again to remind me, I get swamped with messages and sometimes I lose track, don't worry you haven't been scammed.
Adobe 1 Year Keys: These are not accounts but keys you redeem on redeem.adobe.com you will have access to all Adobe products for 1 year. Please make sure you're redeeming on the account you want them on, you can also use them on whichever machine you'd like just by logging into your Adobe account, And yes you can stack them and they work worldwide
Win 10 N: Be aware Win 10 N keys ONLY work on the Win 10 N ISO, Although it doesn't include Windows Media Player it doesn't change the fact that its a different ISO altogether
No Key Exchanges: Please make sure you're buying the correct key before making a purchase, I will NOT be exchanging keys, You will need to purchase at full price
Bitcoin Price (BTC / USD). Price chart, trade volume, market cap, and more. Discover new cryptocurrencies to add to your portfolio. The world’s first cryptocurrency, Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. Bitcoins are divisible into smaller units known as satoshis — each satoshi is worth 0.00000001 bitcoin. Get the most accurate Bitcoin (BTC) price using an average from the world's top cryptocurrency exchanges. Live price charts and market data for Bitcoin. 1 Bitcoin Price ... Calculator. BTC. USD ... Bitcoin (BTC) is the world's first cryptocurrency built on distributed ledger (blockchain) with the proof-of-work mechanism that is not backed by any country's central bank or government, it was founded by "Satoshi Nakamoto", a pseudonym representing an individual or group of individuals, who published the whitepaper in October 31st, 2008. Bitcoins can be used as a digital currency for peer-to ... Bitcoin Posts a 66-Day Consecutive Streak Above the $10K Price Range 10 hours ago Venezuela To Start Using Cryptocurrency in Global Trade in Efforts To Fend off U.S. Sanctions
Bitcoin Bullish Price Prediction of 1 million Does Paypal use Bitcoin Historical Price Chart?
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