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Why is bitcoin worth so much ? Bitcoin price $9,442.51 coinmarketcap Ethereum $236.39 coinmarketcap 1.Btc transaction fees are high 2.Btc takes like 10 minutes - 1 hour to confirm 3.It has no smart contracts support 4.No tokens support Etc etc ... Where does the value of bitcoin come from ? I don't understand the logic behind the valuation ... ----------------------------------------------------------- Here is another thing i found : Even when the last bitcoin has been produced, miners will likely continue to actively and competitively participate and validate new transactions. The reason is that every bitcoin transaction has a small transaction fee attached to it. These fees, while today representing a few hundred dollars per block, could potentially rise to many thousands of dollars or more per block as the number of transactions on the blockchain grows and as the price of a bitcoin rises. Ultimately, it will function like a closed economy where transaction fees are assessed much like taxesSource: https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/It got to people first, and unlike what you think many people are working CONSTANTLY to improve it. |
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Yes it surely have changed our behavior and ways of how we do things, relationship of countries are surely affected and the life were gonna live after this pandemic will be far different from the life we live before this but in a positive way like government should provide more care to our health workers and give more funds to health because this is every sibgle countries weakness. People will stock more often than they usually do because of what happened but i see it in a positive way. I don't think movie theaters will die first or even just die, people will appreciate the things they do after this pandemic ends so watching movies will not die for most of us loves going into cinemas. Things will get back to normal but people will be more careful of their health and hygene.
It's actually fascinating to see how us as a society have changed so much our customs seemingly overnight. I'd wager that office space renters will probably take a big hit, things like cowork, wework and such. Things will not get completely back to normal, I for one support the widespread use of masks. |
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If you have agricultural land would you sell it or hold it ?
HOLD IT, no doubt at all. It's going to be more and more valuable as industrial farmers destroy the lands they work on. |
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I didn't even heard that exchange name before. Probably no one ever.Very strange if anyone put any money there.
there are numbers of legit exchange in crypto.so why people put there money to that kind of shit. which don't have any identity or even any license or anything.
People use these exchanges to avoid KYC, which goes against the fundamentals of crypto. Without regulation, I would never touch KYC for most exchanges. However, regulation brings government control of crytpo. Exchanges like this, if legit, are also good for small upcoming coins without funds to list on exchanges that rape you with fees like HitBTC. I've always thought it is interesting how these platforms deal with foreign law, for example: https://www.financemagnates.com/cryptocurrency/are-rogue-countries-turning-to-crypto-for-sanctions-relief/So government control or not seems that these platforms help foster a first stop to a decentralization "road" so to speak. I've never heard of that Erex exchange though. I remember the first platform I traded on was hitbtc, and thought those were regular fees in all platforms. I dealt with EOS back then so the fees were actually not bad at all, got surprised to use the lowest fee tokens on this platform and see that other platforms charged more for it. As for other coins on this one I've seen that it's better to make a single big withdrawal instead of small ones to help with the brunt of the cost. |
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I have a different understanding with what you're asking. You have mentioned an online wallet and blockchain, let me ask you if you are pertaining to blockchain.com wallet? Most online wallets will provide you the recovery phrases but if that's the wallet that you'll use in storing most of your bitcoins, choose a better wallet like electrum. I think my private key is stored somewhere and not in my PC.
In the first place, you shouldn't keep your private keys in your computer. It's advisable to write it on a paper or make an encrypted backup. Private keys are shown before you create a wallet. I agree that electrum is the greatest tool out there for a "lite wallet", it's very complete. For OP, the blockchain can't and shouldn't know your private keys, your private key is that, the key that opens the public address holding the bitcoins. The blockchain doesn't need to know the private key, it only needs the transaction hash to confirm whether the real owner of said public key is the one sending the funds, if it's correct, the transaction goes through, if it isn't, it's not. |
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While I appreciate the info, you don't provide much proof where you got the information, it could be anyone and you're not showing us what made you draw those lines. Investigate the issue better and come back with something supporting your claims, good luck! |
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Heck, I don't get why, if this subreddit hates him so much, why keep giving him free publicity? Why keep talking about him at all? He's just a loud child screaming because he saw everyone enjoying themselves playing ball, no, he wants to take the ball that is no one's, or the park's and is screaming "MINE!" as if that makes it his.
Don't give him a platform, don't listen to him, he doesn't deserve the attention, he craves it.
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The fees will not be fixed and it's unlikely that we see it happen. The two solutions that we can do as of the moment were mentioned. Convert to an altcoin but seems you don't like the idea. Pay with low fee but it will take time. I don’t understand why people constantly complain about high fees, which they really aren’t? Bitcoin is not designed to be sent completely for free, and the biggest problem is that some think the maximum fee should be $0.10, always.
They don't see that it's much cheaper than the payment processors that we commonly used and takes about a day or two or even a three to arrive. I think the second idea there is the best jossiel, send low fee and wait. I've had very low sat/byte transaction clear after a few days (5 sats/byte cleared in 5 days), it's not optimal, but it's better than paying exhorbitant fees. It's better than the alternative where we only pay the high fee and don't have options at all. Good luck, hopefully fees come down in time. |
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I think for most people this will either be what they're already doing or what they can't afford to do so I'm not certain how helpful this advice may be...
I would say investing in long term investments is a good idea for SOME people now and some people will have guarenteed income (most people also have severance and redundancy packages of they're on salaried income and lose their job - it's just new workers will be hit quite hard by this)...
Don't disregard info, someone might find this useful! Maybe not you, maybe not me. But someone may, let's keep an open mind! |
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I'm speaking strictly about the paper wallets that print out the raw private key, and not about wallets that ask users to backup their mnemonic seed. This type of wallets has a lot of flaws: You need to use printer to create it, which can be malicious. Especially f it's owned by a third party like a store. They create just one address, which means you'll be tempted to reuse it to receive multiple transactions. According to Bitcoin wiki, they have less error correction than seed phrases: QR codes were not designed for secure storage of cryptographic material. QR codes have been damaged and made unscannable by water, crumpling and even folding the paper.
As seed phrases uses natural language words, they have far more error correction. Words written in bad handwriting can often still be read.
They are often generated by websites, which can easily be malicious. Example - https://bitcointalk.org/index.php?topic=5249129.0A mnemonic seed wallet has many advantages - you only need pen and paper to make it, it creates a full wallet with as many addresses as you need, as well as change addresses, and you can even memorize the seed to additionally store it in your head. I know someone in the bitcoin ATM business and, as far as I remember these things had some pretty solid security. At least the models they had. They also suggest EVERYWHERE around the machine that if they're using paper wallets, to make sure not leaving their coins there for too long (fact reinforced by them using heat-print paper), these machines giving paper wallets like this was justa quick way to get your btc that you can transfer out of later on. |
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Let me start this by saying I live in a particular socialist paradise in South America, up until recently there had been excitement among certain normie circles, and I managed to introduce a couple of dozen people into cryptocurrency just in 2020 alone.
This all has been changing since the halving and something needs to be done about this - Wages in the third world, in general, are low, you can't expect someone to put up with a $3 transaction fee when they are only able to earn $20-30 bucks a month or less and Venezuela is not the only country heading this way. I have friends in Argentina that are starting to struggle with their bitcoin transactions and justifying when their minimum wage has gone down from $500 to $150 in 3 years.
It feels like fiat currencies are collapsing and this should be the time for BTC and crypto in general to shine but instead adoption is being slowed down by a relatively flawed economic incentives system and greedy miners... Where is the lighting network?
I agree, not just LATAM but Asian and African citizens will get turned away by high fees, that's just the way it is. The whole point of BTC and crypto was to be able to compete with current financial solutions, putting a $5 tag for transactions makes transaction costs like PayPal's seem reasonable (which btw isn't at all). But we've been here before, people are panicky. Let's see how this looks a few months down the line once the dust has settled both around the Halvening and Covid. Or in case dust doesn't settle and shit starts to go sideways, we'll also see. |
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Hi! How to check how much bit long keyspace?
It's all on the main post my friend! Double check it if you have any doubts!!! |
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Borderless peer to peer and a decentralized payment of the bitcoin innovation is one proof that more and more persons will be willing to using it even though if they choose not to consider it now as a store of value because of its volatile nature.
This is EXACTLY the reason I got into crypto to begin with. I love every time people in TV or in the government start to acknowledge the power of bitcoin, be it skepticism or being bullish about it, either way brings a smile to my face because it's a step in the right direction (adoption being that direction) |
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And also, is it beneficial? I'm talking about scraping from transaction fees.
To be honest, it isn't. If you have a regular laptop or even a gaming rig, I wouldn't suggest mining unless you measure pros/cons, make sure to wage what the cost of electricity is in you area and also how much electricity your PC consumes while at whatever load you are looking to mine in (I'd suggest go 70% of max power for the tests, going higher you risk reducing the lifespan of your rig). I'd suggest give it a shot but be critical of the results you get. |
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Well I do think everyone is fimilar with the situation that every country is in right now .
To eleminate the risks of spreading the Corona virus , government have established lockdown .
No jobs , no schools , no small businesses , nothing.
Care is taken about people who are working in government sector , they are going to be provided with some amount of salary , that too in only some countries.
The small owned businesses are suffering greatly.
I myself was travelling to a small town nearby and saw a person crying , he had to pay banks , pay for his 4 kids , had a family to support but due to lockdown he had no source of income.
I do introduced him with the idea of bitcoins , how he can with some investment try buying , I even told him how he can earn a little through the campaigns , since something is better than nothing .
I do think Bitcoins is helping more than the government itself for a normal person , I am using my bitcoins selling them timely so that I can pay my rent and everything because jobs are all closed.
Bitcoins right now is the only thing that is supporting some people during the time of Quarantine .
How the signature campaigns are still being managed efficiently is amazing 🔥
This is just an appreciation post <•>
Feel free to share how bitcoins is helping you during the lockdown.
Personally, I've been able to keep paying my guy in Colombia for coding, originally he was teaching me but I wasn't able to continue with it, so I've basically found him a job at my company, we use crypto for a part of the budget, and because we can't make him a contract if he's not physicially in france and he doesn't accept Euros, the company settled to pay him in crypto, he likes it and it's convenient for us but after COVID we DEFINITELY need to invite him and see about due process to get him onboard and opening a Euro account for him if it's convenient for him of course. |
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The truth of the matter is this global pandemic is really changing lives and changing nations. Things that we gave little attention to like regular washing of hand, the use of sanitizers and social distancing is now a must. Some of our leaders are now building huge facilities to curb down the situation. The most important thing is when everything calms down the world is going to view the digital currency in a different spectacle which cryptocurency is going to be a great beneficiary. Lets calm down and stay safe since we are not in normal times. There is always light at the end of the tunnel. The cashless world will be coming soon  Yes, and no. It may teach us a couple things here and there, but to be honest these are things we shouldn't have forgotten to begin with. It's good to see the silver lining, but also don't just gleefully walk wide smiled face first into the next catastrophe, we need to prepare properly for future world events like this, we have the capacity and the means, people just don't seem to take this seriously. |
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According to reports by Arcane Research, Holders are buying based on their metrics, Hodler Net Position Change.  Pretty obvious though, I mean if you are a long term HODLer, you are waiting for this kind of opportunity to fill in your bags and accumulating. And probably those who have sold-off during the panic has somewhat regret their decision to do so. As I said in another thread, I personally did, yes. And sold today just to have some extra cash to weather the comming shitshow. A global recession might be coming at us so we have to be careful. |
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You have OpenBazaar. Completely P2P, decentralized and anonymous. But there are not that many sellers/buyers.
My personal suggestion would be to either use the 'goods' board here on the forum, or simply sell on Ebay, get fiat, and then buy bitcoin. You'll lose a bit on the fees, but if you have plans to sell goods on a regular basis, this might be your best option as you will get more exposure.
This is sound advice. There's local marketplaces though that you can agree on different payment methods (cash, bank transfer or whatever), you can just put Bitcoin as a payment possibility and use the platform's own popularity, I remember in Estonia they had a site you could use like this, can't remember the name though. Where are you located? |
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Respected Prime Minister of India has declared Complete Shut Down of "India"
It is very big decision by PM of India and this shut down is not for one day, one week BUT its for whole 21 Days!!
Moreover, internal sources suggest that this lockdown is going to be extended further more if situation of corona doesnt follow within control. This is crazy decision has shaken the whole India for sure and its gonna create economic crisis! People wont be having any money after a month to spend for daily needs, industries wont be paying to employees because there is no business, which means no money outflow-inflow!
What would be the outcome of this unexpected situation of India and people in it?
Every other country is on the verge of financial crysis, not just India. See the US and current unemployment rates, it's much higher than what was reported during 2008. NY had on this wednesday more 911 calls than it received on 9/11! Maybe these figures are misleading but the point stands, and that's just US examples. Countries like Chile, Argentina, Colombia, Venezuela will also follow suit. No country is prepared for total shutdown of their workforce |
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