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Using our common sense of course the undeniable bitcoin billionaires are Satoshi Nakamoto the creator of bitcoin and the bitcoin core developers. Though they are not published on the articles but they are the first bitcoin billionaires. The Winklevoss brothers were famous since they were also the co-creators of facebook and it was not shocking if they will be published on the web due to their application on the SEC.
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Switzerland known all over the world for its banking secrecy, aim to become a major "crypto nation". It has been a friendly nation to icos and is bold in claiming their support. Having the reputation of allowing wealthy clients evade tax and its outright stance on cryptocurrency has put the country at a very big risk.
Roman Bruskov, DeHedge Editor-In-Chief told Express.co.uk said “It will not be long before we witness the first scandal involving the words ‘Swiss’ and ‘crypto’ in the same headline if such hazardous foreplay with the phenomenon is allowed to develop further.”
This statement could no longer be applied to Switzerland. Though they are the first country to accept bitcoin as payment to government services but the title the major crypto nation will be soon taken out from them. If you heard of Sweden launching their own cryptocurrency then you can already say that they will be the major crypto nation as the worlds first government to launch their own national cryptocurrency. |
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Bitcoin cannot govern the world since the governments on the world will not allow it. Governments does not allow any currency that is out of their control to have a major control on their country. Even though some are adopting bitcoins but placed a limitations as to how bitcoin can be used. If you read the news today Sweden is advertising their new coin by saying " leave your bitcoin behind and invest to a new cryptocurrency that ensures 100% profit". This may not be the actual statement but that is what their announcement meant.
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I Just want to know the different opinons of bitcoin miners
becasuse bitcoin can help us bitcoin can change the world
If bitcoin was not invented then I will still have a hard time before and I could never sent my wife to go to college. I could not purchase a new pc and a laptop, a motorcyle, a new bed, clothings and many more. I will still be paying my debts up to now and will have a hard time managing my finances. So I really thank God that bitcoin was created since it was due to it that I am no longer problematic on my finances. |
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Chinese Police in the northeastern port city of Tianjin have reportedly confiscated 600 bitcoin mining computers in a case of alleged electricity theft.
The bitcoin mining equipment was seized after the local power grid operator reported an abnormally high spike in electricity consumption, China’s state-owned press agency Xinhua reported on Wednesday.
The power company observed sudden increases in power loads, the report revealed, up to 28 percent at peak consumption. A subsequent investigation revealed a junction box that had been allegedly tampered with by bitcoin miners who short-circuited the mains to avoid charges.
The city’s police have detained an individual and investigating five others for their alleged involvement in the bitcoin mining operation.
“Eight high-power fans were also seized,” Xinhua quoted Tianjin’s police as stating, adding that “it was the largest case of power theft in recent years.”
An energy-intensive process, cryptocurrency mining rewards miners with coins for creating blocks of validated transactions to add them onto a blockchain. Profits are made when the mining rewards exceed the heightened demands and costs of computing power and electricity, respectively.
China, once the world’s largest cryptocurrency market, is still home to a majority of the bitcoin hashrate due to inexpensive electricity and cheap labor in the mainland. Earlier this year, a reported crackdown led by China’s central bank on crypto mining operations saw the authority claim it could ‘tell’ local governments all over the country to regulate bitcoin miners’ power consumption in a bid to ‘gradually reduce the scale of their ‘production’.
While the report has since been refuted, there is an unmistakable exodus of cryptocurrency miners leaving China. Chinese bitcoin mining giant Bitmain has already established a new subsidiary in Switzerland amid plans of carving an entry into the United States in the power-abundant, cheap-energy state of Washington.
Maybe that's why we are seeing bitcoin price falling?)
Well its partly one of the reasons why the bitcoins price is falling. Due to the banning of cryptocurrency in China the bitcoin holders were forced to sell their bitcoin when it was its peak so they can migrate to other countries such as Japan who have adopted cryptocurrencies. But even though China is the biggest holder of bitcoins due to major mining farms in their region, the closing of exchanges and reducing of power consumption to the miners was just one of the reason of the price drop. |
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Bitcoin or Real Money
Recently, a survey was conducted among ordinary US citizens. It turned out that according to the degree of preference, banknotes lose to debit cards by only 6 percent.In the polls that took place in May and June, 1 thousand Americans participated. Of these, 27 percent preferred cash. The most popular debit cards - 33%. The situation with virtual currencies is quite good. They satisfy 15 percent of respondents.
For the time being, there are means of payment in circulation that are irretrievably obsolete. They are to taste only 3 percent of respondents. These include checks.Similar studies have been conducted in Asian countries. And here it was confirmed that paper money is still the leading way of making settlements.
If the lightning network will be implemented and the speed of transactions become much faster and with a much cheaper transaction fee, the 15% of respondents will increase tremendously. Time will come that even though we still use fiat money, but in the city transactions using bitcoin will become a trend and a large number of population will also join this trending currency. |
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Well im using coins.ph to cashout my bitcoin to money.
Actually it is easy to use coins.ph and early to receive your money.
I am using coins.ph.here in the Philippines to convert my bitcoin money into cash its so easy to transact and very faster you redeem your money in selected remittance center, your money are safe and secure. I am also from the Philippines and I also have an easy time converting my bitcoins into money with just a click of my fingers. Using the same site you use I can convert my btc anytime to local fiat by either withdrawing it from remittance centers or to the selected bank outlets. This is very convenient and I actually not placing my money anymore in the bank since I already made my btc wallet as my bank. |
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I guess, that the FBI has the largest account of bitcoins and therefore they can control the market.
This is a serious claim but we have no clear evidence on that to prove that it is really the NBI who holds a large amount of bitcoin. This may be a plausible idea of the NBI are the ones who created bitcoin, but this is also a hearsay. So let us just think that those bag holders of bitcoin are rather big businessman who have come-in early in bitcoin or those wallet are actually owned by the core developers. |
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As commented by Armin Van Bitcoin on Twitter “ https://twitter.com/LNstats/status/988406112406966273 ”, the mainnet has reached 7.000 active channels. Also, https://lnmainnet.gaben.win/ displaying present activity on lightning’s btc mainnet implementation exposes the network capacity of $156.5 mil which has been approximately 2 times higher in 15 days before. Moreover, there are more than 2.000 operating nodes accessible to operate transactions which cost lower than 1 shatoshi Therefore, what can be clearly seen in the above statistics is the phenomenal growth of faith in Bitcoin as a payment method rather than financial investment or a store of long-term value. Awesome! Well if the lightning network could possibly make bitcoins transaction faster and with a lower fee then the merchants will come rushing in. I have read many news about many business, establishments, merchants that are advertising that they will accept bitcoin and possibly they are waiting for the lightning network to take effect so that they can finally accept bitcoin as a mode of payment. |
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I am also optimistic that bitcoin can go back to the moon, to the 20k$ mark. Though I can say that the road is very bumpy since the resistance that we try to break is strong. If you notice we are again stock at 9100$ due to the huge resistance placed on 9300$ and 9200$. We will have a long way to go but we must stay positive as bitcoin can eventually overcome the resistance and fly back again to the moon. |
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I have always supported bitcoin and its anonymity. Today, we heard about the users who got hacked after they logged in to myetherwallet. This wasn't the first time some users got hacked and there is no doubt it will happen again. It can happen to all of us. There is no difference you are holding bitcoin, Litecoin or Ethereum. All of us wish it was possible to punish that hacker. But all the holders are anonymous. So, anonymity is not always good. What is your opinion about cryptocurrencies anonymity considering this issue?
I also was a victim of hacking. My myetherwallet was hacked and the hacker withdrew all of my eth and erc20 tokens. I lost a huge deal of profit that day but it did not stop there, my account on c-cex was hacked, my account on bitsler was hacked, genesis mining account, coinexchange.io account. I was targeted by hackers as they thought I have a huge stash of btc. Due to this events, I am pleased when the government requires AML and KYC requirements to all cryptocurrency holders. In that way those hackers can be caught when they try to encashed their cryptocurrency. |
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Well there is another huge resistance coming in and due to this resistance bitcoin fell from 9300$ to 9000$. But even there is a huge resistance the good news is that support is also coming in thus bitcoin is recovering again back to 9100$. The tug-of-war still continues and so we will not know what will be the result but eventually if the resistance is strong we will be stuck at 9000$.
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Well this is news is not shocking since they are still doing that until today. They do not accept dollars to trade with other altcoins but only with bitcoin. This principle is also applicable to some exchanges but to binance in my opinion, they thought that having to buy altcoins using dollars is just a waste of time. The explanation is simple, if you look at when bitcoin value was crashing all other altcoins are crashing; when bitcoins market was in green all other altcoin markets was also green. With this premise, if bitcoin really is the source of value for all altcoins then there is nothing new even if they will accept dollars to trade with altcoins.
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It’s finally happened. A major worldwide government has just bestowed a huge vote of confidence and legitimacy onto the world of cryptocurrencies. Sweden, in an unprecedented move, just announced that they are officially adopting a certain cryptocurrency as Sweden’s official coin!
Well, finally my prediction since 2016 have already occurred. It was only my observation but since there are several meetings across the world made by the banks and government officials I cam up with the conclusion that it will be only a matter of time that a certain country will have its own cryptocurrency . It was first idealized by China when they called up all Asian countries to create one currency that will be used among all countries in Asia but that was not realized. Then, at last Sweden was the first country to do it. |
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You will hate yourself more then anything in this world if bitcoin sky rockets and you have empty wallet. It Recalls me a story of grandfather who saved few bitcoins for his grand daughter b.day present when it was only $700 to 800 and after just little time it turned to be $1400 when this story comes. I wish I had a grand father like this  I also hope that I will have a grandfather who will save even 1 bitcoin for me and will give it to me this year. But sadly I have no longer a grandfather since all of them have already passed away. And even though they are alive they have no skills and knowledge in using computer or just to access the internet. But I am still happy that even though they dont give me btc they have given me the love a grandfather should give to his grandchildren. |
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Well it does not matter if your prediction will be realized or not in the certain you hope for it to occur. But the reality remains the same that eventually bitcoin will reach that Seventeen Million Supply in circulation. This does not matter if that happens this month or next month but the only thing we cannot deny is that it will really reach 17 million bitcoins this year.
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We in the bullish community supports the theory that bitcoin is still young and it will attract many more users and thus creating more demands. These demands will eventually end up increase the value of bitcoin ten folds. Though this theory is not 100% absolute but we are willing to risk on it since it was a proven theory since 2009.
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Well I totally disagree with Metcalfe's Law. There are no ultimate law that has no flaw and even his principles and ideas were not an exemption. But let us give that law a benefit of the doubt. If bitcoin will crash again then his law is correct and I will admit my loss but if in case bitcoin will go back again to 20k$ this year then I will totally disagree with his theory and is not applicable to btc.
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The price of bitcoin has returned above $9,000 for the first time since March, having risen by more than a third in value over the last two weeks. Do you think this is a good sign?  I do believe this is a sign but if we look at carefully this is no longer a sign but a movement already. A movement of recovery that will bring us to the targeted value of btc at 25k$ this coming december. Many are already excited and are starting to buy bitcoins as fear of price drop is replaced by excitement. Next month we will be hitting 12k$ or more so lets get to it. |
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Anyway we must not be concerned by what the central banks are saying since it is bitcoin that gives us income and not the central bank. Though the central bank holds authority in the field money and currency but if people will no longer trust fiat currency then the central bank will have no choice but also to accept that currency which the people deemed the most.
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