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I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
As a decentralized system with a complicated design, we are hard to see. There are a number of players with more or less incidents (for example, miners, holders, exchanges, even developers), but one of them may have more power than others in terms of improvements to the Bitcoin protocol technology to be performed. |
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Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why? Because: 1. Is good for all businessman for good transactions. Buy something and sell something. 2. Is good for payments needs to pay like billings every month. 3. For less time and moved for travelling on anywhere we want. 4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's 5. Easy to transfer money if they needed immediately like emergencies. pay for medicine. Theres a lot of good reason. The government prohibits the use of virtual currency including bitcoin for use in transactions in the country. However, trading of virtual currencies under the two main exchanges, Huobi and OKCoin, even growing. |
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Some of the world's leading investors have considered bitcoin madness, with some warnings to avoid it "like an epidemic" and others say it's okay to invest. |
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Is it better to get BTC via mining or buying now?
It was no longer profitable early this year for mining. However, with the recent price surge, does mining becomes profitable now?
If yes, any suggestion? There are quite many cloud miner in the market.
Thanks.
Mining can break down, much less there is no way to know how high or low the Bitcoin mining difficulties can be so that numbers can drastically change. If you want a success than you should definitely go by buying Bitcoin instead of mining them. |
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I have just been recently trying to know how our legend crypto (Bitcoin) price determined. I really need to know more about this. Pls how is the price determined from time to time?
Many people do not realize that other currencies also work exactly like Bitcoin - if you are holding a coin or banknote in your local currency in your hands right now, at the same time there are millions of people who sell and buy your local currency, so even if you feel the price of your currency is stable, actually the price is changing continuously. |
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The question is simple; Why should people invest in bitcoin?
State your reasons, and advantages of investing in bitcoins today.
I know there are a lot of newcomers that are coming into the bitcoin community every day.
I want us to discuss it here, so that we may help them understand what is bitcoin and how important its to invest in bitcoin.
Share your ideas, and thoughts below.
Bitcoin has proven to be the most successful virtual currency in the world. Bitcoin valuation is the highest among other cryptocurrencies. |
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[ https://medium.com/bitcoins-digital-currency/how-to-explain-bitcoin-to-a-7-year-old-a9a8c094feaf] How to Explain Bitcoin to a 7-Year-OldI’ve been explaining how Bitcoins work since 2010. Here is the simplest analogy I’ve discovered that explains transactions, anonymity, and coin production.
There’s a room that anyone can access. The room has security cameras that anyone can view, and every second of recorded footage is available online forever.
The room is filled with indestructible piggy banks made of transparent plastic. Naturally, these piggy banks have coin slots, and everyone can see which coins are in which piggy bank. These piggy banks can never leave the room.
Each person has a key that can open their piggy bank. Let’s say I want to buy a pair of alpaca socks, and you want to sell them.
First, you tell me which piggy bank is yours. Then, I walk into the room with a ski mask on. Anyone in the world can see me on the security cameras, but not my face.
Next, I unlock my piggy bank, take some coins out, then put them into your locked piggy bank. I leave the room.
Now, everyone in the world knows that your piggy bank has coins that were previously in my piggy bank. This is the case with every transaction, so everyone knows the history of every coin.
“So where do the coins come from? How did it start? Who got the first coins?”
There’s a robot in the room that runs lotteries. Every so often, this robot randomly chooses a piggy bank in the room, and puts 50 coins in it. When it first started, there weren’t many piggy banks in the room since nobody knew about it. Back then, it was easy to win the lottery. Today, there are millions of piggy banks in the room, so your odds aren’t very good.
“Ok, couldn’t someone make their own fake coins?”
No, because everyone has records of every coin in the room, and they know when the robot hands new coins out. If a fraud were to put fake coins into his own piggy bank, everyone would know that those coins were never handed out by the robot, and wouldn’t accept them.
“Who made the robot..?”
Supposedly it was a super genius Japanese man named Satoshi Nakamoto, but nobody knows for certain. Since the security camera footage is available from 2009, we can see that the robot was putting coins into a piggy bank since day 1. We assume it’s Satoshi, but that’s about all we know.
“… Crazy.”
From Tony Diepenbrock IV on medium. Or you can also watch this excellent video:bitcoin 101: https://youtu.be/Bhe61JaNFLU[/quote] In trading Bitcoin we must have a goal so as not to be confused, because like beginners, especially Bitcoiner Idealis often confused must collect Bitcoin or profit in selling Bitcoin. If you are already a Bitcoin Trader then you have to bury the soul of your Idealist Bitcoin deeply. |
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Hello there one year ago i bought 3 bitcoins but lost them all in gambling... :'(nd now seeing the bitcoin price makes me cryy...
I have 1500USD right now...i am thinking to buy the bitcoin now whatever i can get with them
Should i buy now or not as bitcoin is reached its all time high and in to the moon...please advice me
A common misconception for those who are new to Bitcoin is that they think they should buy one (1) Bitcoin intact, all at once. After seeing the high price of 1 Bitcoin, many immediately canceled Bitcoin's desire for the misunderstanding. Bitcoin is digital and every Bitcoin can be broken down without restriction. Therefore, you can buy, sell, send and receive 'Bitcoin' splits; which means you do not have to transact with "one" Bitcoin directly. |
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Bitcoin’s very volatile prices have reignited the debate about its usefulness as a currency or as an asset. In some ways, Bitcoin suits the definition of currency quite adequately but if the volatility is less. It allows for the creation of secure and transparent transactions. Thus, can be used as a secondary currency in future. Some of the experts have huge concerns over its volatility. But, sooner or later the prices may remain less volatile as of today. I have mentioned few points about Bitcoin as a currency or as an asset in my article here: https://atozforex.com/news/is-bitcoin-a-currency-or-asset/What's your opinion about BTC as a currency or an asset? Suggestions and comments appreciated   Until when bitcoin usage is not to replace the recognized currency as a legitimate payment system, "I prefer to call it an investment item, a digital asset. I disagree (bitcoin) as currency. |
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Bitcoin right now keeps on increasing its value, and many more cryptocurrencies are occurring.
Do you think someday bitcoin will end or will be replace by other cryptocurrencies?
Is it too late to invest?
Is there a chance that bitcoin will be down?
Personally I don't think it will end. There is only a finite amount of these things that can be made, the closer we get to that limit, the more lucrative owning a bitcoin will be. Is it too late to invest?
I ask myself daily if I've missed the mark, I own a very low amount of BTC, but im debating buying a couple when the price retraces. I think if you can get in sub 5k go for it. All of the above IMHO ~Lucas If according to the analysis of the various conclusions can be drawn, the adoption of blockchain technology by large financial institutions / institutions actually good for Bitcoin, because the use of the technology itself is very broad and useful for various fields not just as a currency. |
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The chipmaking division of Samsung is trying its luck in the field of crypto currencies that are now on the rise. According to South Korean media The Bell, Samsung confirmed that the company is producing chips or processors aimed at crypto crypto miner engines such as Bitcoin. |
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CoinDream, a paper wallet is not a backup. It doesn't duplicate (make a copy) of the keys in your online (blockchain) or software (QT) wallet. The paper wallet is created by actually transferring the keys (critical information) from the online or sofware wallet onto printed paper. What value you transfer to a paper wallet is no longer on your other wallet(s), until such time as you would transfer it back.
So you can safeguard your holdings by transferring them from other wallets to a paper wallet; but then, they will be unavailable for you to use in your other wallets till you transfer them back. The paper wallet kind sets them aside for safe keeping in a vault or very secure location. If you lose or damage funds stored on a paper wallet, they're lost forever.
Unless you have a substantial amount of btc, you may want to simply backup your QT wallet. Those instructions are readily available. A backup of your QT wallet is a copy, like any other backup file. It's just an emergency saviour if anything happens to your QT wallet. You can just import the backup file into your program, allow it to sync, and you're good as new.
You cannot backup your blockchain wallet. Online wallets are left totally to the protection of your provider. That's generally a good reason to store most of your value in your software wallet (backed up) or paper wallet.
Bitcoin allows you to transfer anywhere in a very easy way and allows you to control your money. The great feature also comes along with high attention to security. Bitcoin provides a very high level of security if used correctly. Always remember that it is your responsibility to take good security precautions in order to protect your money. |
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2 Billion people worldwide are unbanked! .... Bitcoin can give EVERYONE access to the financial world, without having to use
a Bank. There are also many possibilities for these people to use global micro payments to receive payments for micro tasks.
If you have high unemployment in your country, then Bitcoin can give you employed. {Doing micro tasks globally and getting
payment from people in other countries.}
Beyond its anonymous nature, bitcoin has the potential to change the way we do bank transactions, and see money. |
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Mining, is actually a process of verifying the overall of Bitcoin transaction.
And from that process, miners have also maintained the overall integrity of Bitcoin transaction data and information. The overall of that data, stored in a database called (Blockchain). Miners who have contributed to maintaining the integerity of the transaction's overall data and information are given a Bitcoin as reward, and those criteria has been set as the Bitcoin system protocol.
Because Blockchain is always maintained by its integerity by miners, the validity and security in the Bitcoin system becomes difficult to penetrate. And almost impossible, especially Bitcoin uses peer-to-peer network, and there is decentralized system, and there is no dedicated central server in it.
Mining is a distributed agreement system used to confirm transaction queues by inserting them into chains. Mining arranges chronological sequences in chain-blocks, protects network neutrality, and allows different computers to agree on the state of the system. |
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*Newbie Here!* Because of fluctuations in the value of bitcoin, is 2018 going to be the biggest downfall of bitcoin? What do you think?
Last year has become an important milestone for bitcoin. Even those who do not know what digital currency means, must have heard the magic word, bitcoin, at least once or twice. The word bitcoin is everywhere: in newspapers, on TV, on radio, on the Internet. This is not surprising, where more than eleven months in 2017, this digital currency has grown 20 times (from USD 900 per 1 coin to almost USD 20,000). The surge in demand is pushing it higher and higher even as the queue of those who want to earn unexpected profits are collected on crypto exchanges. And then, suddenly, in just one week that runs from December 12 to December 17, bitcoin loses more than 45% of its value. This devastating collapse shows that a strategy based on a "buy only" approach is not always beneficial for traders and investors, it can also be a disaster. |
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I think about Bitcoin, and this is just my meaning.
As you know Bitcoin is limit. Total of Bitcoin is 21 million, we have dug nearly 16.8 million Bitcoin. Neither founder can not create more Bitcoin. Is this the reason for raising Bitcoin price high and it's also cause for Bitcoin price reduction when we have nearly reached 21 million.
If you know, there are only 21 million total Bitcoin that can be mined. Once the miners have opened Bitcoin a lot, the supply will be exhausted, let alone the Bitcoin protocol changed to get a bigger supply. Well, the question is, what will happen when global Bitcoin supply reaches its limit |
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I would like to inform you about the History of bitcoin price. I think this post can be a pleasure for the newbie bitcoin investor who has invested recently in bitcoin like me. I am going to give you a chart of bitcoin price from 2010.
Time price per BTC Importent information
July 2010 $0.08 The price grew 900% only In five days, rising from $0.008 to $0.08 for 1 bitcoin.
Feb – April 2011 $1.00 In that time Bitcoin took parity with US dollar.
8th July 2011 $31.00 At this time top of first "bubble", followed by the first price drop.
Dec 2011 $2.00 At this time goes minimum after few months (huge dump)
Jan 2012 $3.41
March 2012 $4.95 over 46,000 BTC stolen by Linode Hacked
July 2012 $13.31 Bitcoin Savings and trust halts payments.
Jan 2013 $13.31
Feb 2013 $20.22 Starts some pump.
July 2013 $100.15 great pump.
Jan 2014 $772 700% up within 6 months.
July 2014 $582 Some down again.
Jan 2015 $272 Huge down.
July 2015 $289.68
Jan 2016 $432.17 some up again.
July 2016 $688.50
Jan 2017 $1020.47 Starting golden age of bitcoin.
July 2017 $2592.41 proved a golden age.
18th Dec 2017 $19,498.63
Jan 2018 $10,685 Again huge down.
From this chart, we can guess the future of Bitcoin price. We should not worried about the present bitcoin price. I think 2018 or 2020 will become a diamond age of bitcoin. What is thinking? you can also post your opinion on this thread.
Almost 10 years have passed since Bitcoin which was originally just an idea on paper and code in the computer, become matawang which is used by people busy. Bitcoin is originally worth less than USD $ 0.01 (2010) and Bitcoin transactions are considered a hobby of cryptographic enthusiasts. |
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