[What the Government mean by Fiat currency]

Money works as a medium of exchange the currency started 69,000 years ago, people used things of value to trade goods and services. Such as Gold and silver, After the second world war, they were a gathering by the world power to tag the US dollar to the Gold value, countries around the world had their currency trade at the United States dollar value.  

What the Government mean by Fiat currency

In the 20th century, President Nixon initiated the fiat currency, a currency that doesn't have its value tagged to Gold or anything of value. So fiat currency means anything that circulates by force, they have the right to call anything of no value money.

Why fiat is a digital currency

Bitcoin is a digital currency, just like the fiat currency has digits all over the bank. When the visa card was established people didn't understand it's usefulness when the Government wanted a cashless community the same as bitcoin just that we need fiat to get bitcoin unless we earn it like other money, today people now use cards to book flights, hotels, etc

Features Fiat share with bitcoin

Irretrievable: Fiat has this feature when you think of fiat outside the bank, For instance, you bought a phone that doesn't work and need your money back, the bank cannot do anything concerning this transaction because you didn't use it digitally.

Fraudulent: Before bitcoin, fiat has been used to perform different kinds of businesses, a few times ago JP Morgan called bitcoin a fraud currency knowing that anything money can be used for fraud too. They are a few reasons why a banker won't like bitcoin those reasons why the Kings don't like democracy.

Truth about bitcoin

Just like in this forum. People whose purpose is learning new knowledge have great benefits. As a beginner that wants to use bitcoin, forget the past of bitcoin were you know that a lot of people made profits from trading bitcoin but focus on the ecosystem of how money works. A world where we can have control over money and activities like elections using the blockchain to have a free and fair election in places like Africa, Asia, America, etc

Challenges of bitcoin

Bitcoin is suffering from being too popular because of the power we have over our money it handles 7 to 10 transactions per second with high transaction fees especially during the bull run like what we see today bitcoin transaction fees are too high. But the lightning network technology will reduce the cost of bitcoin transactions and enable fast transaction time.

The greatest fear of bitcoin users

As we know the interest of our governments on having a cashless community, the same JP morgan called bitcoin fraud is building a digital currency on blockchain JPM coin that will be used in the future with other fiat currencies So my fear is the government taking over the blockchain technology

In conclusion, what will happen if the government takes over the blockchain technology and also the future of the lightning network to bitcoin?

I want to ask at what value is bitcoin attached to just like in this article dollar was tagged to gold and things of value before the Fiat came into existence?

Thanks.

Source:

https://www.thoughtco.com/history-of-money-1992150

https://www.youtube.com/watch?v=LszOt51OjXU

I took a look at this forum's rank on Alexa, it is not good enough; provided that Content is king which is a big tenet in this forum, and why merits were integrated for users who post quality content no doubt articles from this forum rank very fast on google but the number of visitors to this forum has reduced and it affected the ranking of this website.

In 2018 according to Wikipedia, this forum ranked 900 on Alexa Globally.

Later in 2018, it was announced that users without any merit will be demoted to Newbie regardless of their ranks. During this period, so many users left this forum and most accounts were sold out for a couple of dollars. People were desperately in need of bitcointalk accounts with merits so they won't be a Newbie and also for their several businesses in the service thread. (You won't trade with a newbie)

Now in 2020, the forum ranked number 11,525 in February and at 22,845 this month this shows that our forum is doing well in good content but performs very bad in traffic, some threads scare new visitors away, just like this one https://bitcointalk.org/index.php?topic=5220580.0

what is the actual aim of making the merit system very hard for users? This will scare some away and those who are not good at writing, it means they don't belong here?

An internet forum where people come to learn and share information on bitcoin is not just a personal forum for some users that have a good rank to suggest how difficult the forum will be. Also, it is clear that most threads from the newbies are not given much attention because of how they structured their article.

If you noticed well, you will see that the signature campaigns are getting closed because companies don't get exactly the kind of traffic they used to see.

The forum is now difficult not only for newbies but for investors who came as newbies and left because they couldn't understand the forum better. I like this section "beginners and guide" but I didn't discover it as a newbie.

I will say that this forum is easy if you have worked hard on it and it's part of you, But very difficult for freshers because of how old members treat them with merit.

What is the reason behind holding a Smerit without giving it out? Most of them will waste or expire. If we put more energy on how we make good articles and also make it easier to harbor visitors that turned to members. This forum will rank as before and we will get enough people that will make use of our signatures for adverts.

I know our moderators are working hard to reduce spam and scam here. But I will encourage users to make here fun, we are in a war forum of smart Alecks that counter every single thread that is published. How do you expect better learning if they are no fun going on here?

looking at the rank of this site do you think Satoshi will be happy? We can build a forum as famous as bitcoin.

link to Alexa rank on bitcointalk.org

https://www.alexa.com/siteinfo/bitcointalk.org
rank for 2018 below
https://en.wikipedia.org/wiki/Bitcointalk#cite_note-alexa-1

The world biggest writer J.K Rowling has been asking questions on Bitcoin and she is getting some fascinating Answers like

1. Bitcoin is something that exist but doesn't exist

2. Bitcoin is designed so that it eliminates the need for trust. It's backed by advanced math, you won't understand

3. It's just money. It works like globally accepted cash and a high performing stock because of it's finite supply

4. Bitcoin= Magic Internet Money, Where the magic happens is blockchakn it's where each Bitcoin transactions is recorded like at bank

5. Imagine money is like Alcohol. Everyday more and more is being printed so it constantly dilutes the alcohol. Bitcoin is like the purest form of alcohol that cannot ever be diluted. You can enjoy the same taste 5,10 or 100 year down the line

6. Joe Craig did a great job here! He said; when you pay with a card, the system pings the bank to check you can pay, it pings back to Ok the transaction, then your bank pings the seller's Bank to change the amounts in your respective acounts. The bank acts as a central place keeping score. They keep the 'ledger'.

Now there's a new way of keeping score every transaction is recorded on a vast network of computers across the world that all have to agree on the numbers for anything happen . It's a distributed ledger's. If they agree, they update instantly with no need to refer a bank.
They record every transaction in along chain of technology, adding the new one to the end of the chain in a new link, or ‘block'. A cryptocurrency is just  currency that uses this chains of blocks of blockchian to keep score. Instead of a central institution like a bank.

And. Bitcoin is just the most popular cryptocurrency.

7. Bitcoin is a Cryptocurrency derived from cryptographic encryption and digital currency. Bitcoin is a digital cash network that relies on a cryptography for security.

8. Digital money that cannot be tampered with. Doesn't require Banks to send it. Bitcoin has a finite supply, therefore is not subject to inflation like $/£

9. Bitcoin is like fire insurance you'd buy for your home but instead of your home on fire it's economic and government systems around the world.

10. Think of Bitcoin this way. We figured out how to do letters over the internet with email, Now we figured out how to do money over the internet with Bitcoin.

These answers came from her handle on Twitter @jk_rowling among all of them all Number 5 is something else, alcohol does alcohol dilute when added another alcohol? and also using alcohol to explain bitcoin to a newbie is amusing. Let me know the answers that got you. And also I will encourage beginners to check this thread before asking anymore questions. So our forum will not be filled with same question all over. Thank you all and have a good day.

Jeff Bezos has made bank during this stay at home period, everybody get their stuffs from Amazon and it seems to be one of the active companies operating now. I have seen a lot of people complaining that he doesn't pay his workers well. Those it mean he is making a profit out from his workers salaries?

Elizabeth Warren tweeted:

While Jeff Bezos is on track to become the world’s first trillionaire in the middle of a pandemic, Amazon is ending overtime pay for warehouse and delivery workers on the front lines. This is immoral.

Trying to end workers harzard pay is uncalled for, this people worked during this period of risk and death and what they are getting in return is cutting their stipends. This may be for a reason i don,t know about but workers should not be treated this way for personal gain or what so ever. 

what do you think.

May 22 2020 marks the Ten-year Anniversary of the first bitcoin transaction.

On May 22, 2010, now known as Bitcoin Pizza Day, Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered Papa John's pizzas. Organized on bitcointalk forum, the Florida man reached out for help. "I'll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day," Hanyecz wrote.

"I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy!

So it all started in this forum lol, they are lots of history to be found here. Any old member that experienced this transaction can give us more details though.

Source: https://www.investopedia.com/news/bitcoin-pizza-day-celebrating-20-million-pizza-order/

Correspondents of cointelegraph.com just published an article concerning a 52 year old woman that runs a fake digital currency exchange, that has been operating since 2017 and have transacted AUS$5million that is 3.23 million worth of bitcoin.

"This is the first arrest executed by Cybercrime Squad detectives relating to non-compliant digital currency providers in New South Wales — and is believed to be the first of its kind across Australia."

During the arrest of the 52-year-old, police seized AUS$60,000 in cash, 3.8 BTC (worth $37,000 at current prices) and a mobile phone. Later, officers searched a nearby apartment, finding more mobile phones, computers and electronic storage devices, along with a further $11,700 worth of Bitcoin.

The woman was charged with three counts of knowingly dealing with the proceeds of crime and breaching digital currency exchange service requirements.

https://cointelegraph.com/news/australian-woman-arrested-in-cash-for-bitcoin-money-laundering-sting

[Bitcoin is a decentralized currency,]

They are so much importance of bitcoin working on a decentralized network. I will write a few things on decentralization.

When something operates on a decentralized network, it is prone to hacking, open-source, and low risk of system failure.

Bitcoin is a decentralized currency,

The principal aim of bitcoin is decentralization, to enable a friendly transaction module between two people. Without the presence of a middle man or a third party like the bank,

they are over 10,000 nodes in the bitcoin network each node records the network data and helps to verify transactions, Bitcoin is among the most decentralized currencies but not the best, they are other currencies that stand ahead of bitcoin in decentralization in this article https://www.quora.com/What-is-the-most-decentralized-cryptocurrency

Benefits of decentralization in bitcoin

Open source: Bitcoin decentralized network known as blockchain is accessible by anybody that wants to build anything on top of it, and also integrate bitcoin as a payment method for the project; with its proof of work that shows the consensus between those nodes, that proves every transaction legit,

Low risks of system failure: A centralized network can be faulty through the central computer that serves all other systems causing a delay in every transaction. In decentralization systems, a node that goes offline passes their workload to other nodes, so that applications can keep processing transactions without any delay.

Disadvantages of decentralization in bitcoin

Hacking: As I said, hackers can penetrate any network and have access to people's money and relevant online assets.

Fraud activities: The decentralized network of bitcoin tends to be untraceable. Unless your exchange wants to be part of the investigation then you can get back your funds but in most cases, the fraudulent act comes up every day regarding the blockchain network.

In conclusion, they can only be one currency that will take over bitcoin in the future, a currency that has a blockchain that tackles those disadvantages above. If users Can have a decentralized network that can provide them with sufficient pieces of information. About their activities and how to trace their money back then people can trust them better than they have done to other cryptocurrencies.

Thanks

SOURCE: https://dex.openledger.io/different-levels-of-decentralization-in-cryptocurrency/

https://www.inc.com/kenny-kline/3-important-advantages-of-decentralization.ht

[How ranks work with activity]

Greetings to our brand new members they are lots of topics in this section about what I'm writing about but. I made this article very clear for you to understand in a way that you will see the differences between users and their activities in this forum,

How ranks work with activity

Check this link it states the rank and how it corresponds with activity and merits. https://bitcointalk.org/index.php?topic=2534500

Just like in real life "not every soldier is a hero and not all heroes are considered soldiers" This quote will help you understand my Examples below,

Lists of  Users with high activities but low ranked.

Username: Nicecrypto
Activity: 882
Merit: 15
Position: Member

If you checked the link above you will see that this user is qualified to be a Legendary member from his activity in this forum, But his merits number is lower than required to have that rank,
    
Username: Leonardo7
Activity: 560
Merit: 13
position: member

From what we have here this user, is qualified to be a Hero member from his activity in this forum, But his merits number is lower than required to have that rank,

Username: sayma83
Activity: 252
Merit: 11
Position: Member

His activity on this forum would have gotten him to the Senior member rank but has barely 11 merits which qualify him to be a member-only,

They are plenty of soldiers like these users above but are not considered heroes. It could be a result of how they focused on their activities, how many lives they saved etc.

These users have been active for more than A year in this forum but channeled their activities differently maybe they didn't help other users to get merits (not sure) or their activity on this forum isn't interesting for other users to learn,

Lists of usernames with high Merits but low ranked

Wenbing
Activity: 56
Merit: 15
Position: Junior Member

Wenbing has several merits that qualify him to be a member of this forum. He has a lesser activity that will get him to become a member,

Lucifer_8
Activity: 19
Merit: 24
Position: Newbie

The above user is a newbie but his merit can qualify him to become a member instead his activity is lower than required,

seabits
Activity: 42
Merit: 14
position: Junior member

These users possibly are considered heroes that are not soldiers because they know how to get merit regardless of their activity in the forum.

For instance, A person with good information about cryptocurrency registered into this forum as a brand new member doesn't mean he/she is a newbie to bitcoin because he is new in the forum.

Advantages of Activity over Merit

Active users tend to learn faster and know much about the forum

Active users are chosen in campaigns

Active users are strong enough to participate in what they signed up for like, posting threads, commenting, etc

Advantages of Merit over Activity

Most newbie accounts with plenty of merits are owned by top-ranked members

They rank faster if they work harder than a user with high activity and lesser merits

They are considered intelligent

To round up, You signed up into this forum to be active, working to see that your place of learning is in good shape. So make it a duty to make yourself seen by other users. Your activity depends on you and the administrators while merits are given by other users to you for a job well done.

Thanks

[Provide Jobs]

Many times beginners see cryptocurrency as unsafe. Because it can be used by criminals and also for cyber-crime.  They are a few good news about why you should have a positive mindset about cryptocurrency.

Provide Jobs

Using this forum as an example, so many companies have adopted this forum as a place of advertisement. This possibility has helped the members of this forum to participate in such campaigns and make a few bucks out of them.

As we all know this forum as the largest forum that represents bitcoin and cryptocurrencies in general with over 2.5 million users.

These companies consist of

1. Gambling sites

2. Exchange sites

3. Gaming sites etc

So, just like everything in this world has good, bad and ugly features. If you have a good reason why you joined the cryptocurrency community and engaged yourself in this Journey. Your benefits are many.

General skills

I have gone through this forum a lot and found out they are one common objective in this forum apart from talking about bitcoin and altcoins.

Which is Writing, so many consistent users of this forum are good writers because of the merit features that are given to good writers that share good content in this forum.

Those merits will qualify you to make money out of the numerous campaigns that are been managed in this forum.

The more merits you have determines how much you can get per post.

Bright future of Cryptocurrency

In the 1990s people were curious about the term internet but 20 years after nobody asks such a question anymore and the benefits have proven how good and special it is to human beings.

Same here with bitcoin and altcoins in general, they are roughly 10 years old and people have slight knowledge about them. In a few years, people will understand how useful bitcoin can be to the community.

Your information is safe

A few months ago, I had a failed business with a client online. Although it wasn't my fault lack of sufficient information from my client. So he demanded a refund which was no longer under my control because I resold a good to him and he didn't want the goods anymore.

Since I cannot refund his money he said he will extract my location from the bank details I sent to him. This wouldn't have been a problem if we traded in bitcoin. The bank has all our details and it could be dangerous for a failed business like mine above. Even though the fault is not from me.

I am not saying we should trade in bitcoin because we can't be tracked, but for mistakes that may arise, as we are dealing with real people.

The above-listed benefits are just a few among the millions of benefits you can get from using cryptocurrency and being a member of this forum.

I will encourage users to use this thread to share more benefits to our newbies and discuss it for better understanding.

Please if you read this article rate it. Thanks

I have few questions to ask about Ethereum 2.0 and beacon chains. What kind of currency is Ethereum 2.0 when it is launched. How will it help the nature of Ethereum and it's price, Also the beacon chains seems to be the block chain holding Eth2.0. Does this mean Ethereum will pull out from the block chain like Bitcoin and other currencies? Are they planning to stand aside and work their way up? Because from this article below I think Ethereum is moving away from POW to POS. Is it the best Idea? https://news.ethereum.cn/ethos-dev-beacon-chain/ please I need to know what's up with Ethereum thanks men.

From the recent development recorded today about Bitcoin hitting $8000 and dropped back to 7000+, will it break through the $8000 or dump back to maybe 5k what is the prediction going to look like. Are we expecting it to Spike to 10k? What did you notice about this and what is your opinion towards this recent development? Cheers

So many tweets about Kim Jong Un going to die and how the North Korean citizens will be very happy if he dies. Is very skeptical  how people will wish for their leader not to survive a failed medical surgery. A leader may be bad not to such extent of citizens wishing for his death, not in this bad state of the world. A country that losses its president now, will be in great danger. Because his successor may be worse than him. I urge North Koreans to wish for quick recovery of their president. Eventually if he recovers to all the tweets of citizens wishing for his death will worsen the situation of the nation.

Posting your Bitcoin address, transaction ID on social media, may not worth it. People can get details of how you spend your money. Using a public address as a public person let's everyone see what you are doing with your money.

But if they is any reason, why u need to post your address or private keys on social media, try to hex code it. Or random people will access your mail. You can hex code with this site www.convertstring.com/EncodeDecode/HexEncode.

I know of only one wallet that fixes this problem, which is Samuraiwallet with their Bip47 reusable payment code. If they is more wallet like samurai, you can share.

Just like the loopholes in Ethereum names. So many proves have been stated. About how buying of Ethereum names can expose your details, to everybody. Unless you like it that way, instead you shouldn't continue using .ETH names to hide your address.
For more details check https://decrypt.co/19423/we-tracked-133000-ethereum-names-and-exposed-their-secrets about how decrypt.to tracked 133,000 Ethereum names.

Although, the government know how we spend our money on crypto market through Exchange. If you convert Fiat to cryptocurrency, they must report your financial transaction or lose the ability to be an exchange in America.  On the contrary, government knows about some transactions happening on Exchanges. So it's Keen to avoid random people to also know about that too. Take some simple measure to ensure your privacy is safer.

[First halving]

First, I will explain what Bitcoin halving is about. Bitcoin halving happen occasionally, as many people believe today, that the pandemic, silenced the trend of Bitcoin halving. It is an event that occurs every 4 years, which shows the creation of new bitcoins. Just like we see Bitcoin as a (digital gold) it has a finite supply, once 21 million coins are generated the network will stop producing more.

Second, I will analyze Bitcoin halving according to the previous events years before. (%)

First halving
November 2012 they was an additional 13,000% increase, Bitcoin was at the bottom of $2.01 and it spiked to $270.94/BTC

Second halving
July 2016 they was an increase of 12,000%. Bitcoin price was $164.01 and it spiked to $20,004 to the top. ( During the period of the halving, just like in the space of 4 years or within).

Third Halving
May 2020
If Bitcoin happen to do another 12,000% - 13,000% we would see $380,000 - $400,000 per BTC..

Unlike the previous patterns, No guarantee Bitcoin will ever do another 12,000%. Much like the % will be a lot smaller, but with Bitcoin hope is certain and mathematics does not like.

After the Halving we only need 200million per month to keep $7000 level. If 400m a month then we are heading to the moon. For example, (30d×24h×6blocks×12.5btc×$7000 assuming all trading is zero sum game)

Bitcoin is ponzi-ish
But for Bitcoin to have value it requires more people to recognize it and follow it. For Gold to maintain liquid value it requires a consistent flow in relation to currency. That will not make Gold a Ponzi scheme. 400 million a month into BTC is a drop in the bucket (according to a tweet I saw during my research).

My question is what price do you predict Bitcoin to be after this Halving and also I would like to get more details as regard to the Halving event. Does it have a venue?

You are responsible for your own trade, someone introduced us to Bitcoin trading. He/she will not be responsible for the mistake you have made. While trading a huge sum of money, to earn 1000× of your funds, in two weeks. Found a tweet, “About a dude telling a cryptocurrency Twitter influencer, how he got influenced wrongly. He traded 10BTC and lost all". This could be clout, but serves as a good information. So many cryptocurrency Newbies invest in the first assets that feel okay, without doing their own research.

Pay attention; If you have plenty BTC like the dude above. It's certainly well, you know how to trade, close to what the dude thought. For this reason, holding is the best option. No way 10BTC will be lost (when Holding), allow yourself to “waste" time exploring. Although he learnt his lessons. Such mistakes should not be welcomed.

We have to keep in mind what we can do to improve not only our own lot but that of those around us. Share your Opinion.

As time stood still, people are selling their online assects, (including bitcoin), a crypto saying that said; “Panic when others are greedy, and greedy when others panic."The fastest way to multiply Bitcoin is through bet. Sites like stake.com, primedice.com etc, is a good choice, for people with a handful of luck.

Consider to buy more BTC to 1BTC, checking price is a mistake, because it's an easy way to make millions. Why it's true, patient rules the world, Bitcoin striking to 20k this 2020 is not impossible. Once the pandemic is over the world will embrace anything that exist (Bitcoin won't be an exception). Now looks like the right time, but not the best time, to promote BTC, citizens look to buy food to save life than invest.

The best way to invest and multiply BTC free, is, by building a skill that earns you BTC, when the world see a reason to invest into Bitcoin, lots of work need to be done. When discussing with investors, inform them this pandemic, show that the world can stay in-door forever. We should expect to see such situations again, internet is topping gradually, when they is no option left. No E-currency except Bitcoin will be accepted by the massees, when trading online.

To win: Survive - be patient - plan -and -strike at the best time.
 
Share with us any possible means to multiply Bitcoin.

Hello mates   I am a Cryptocurrency writer with good experience. I have written great articles on this forum and can be testified by some members that appreciated my work, by giving me some merits. My articles are High quality and scores high on Grammarly. If your budget is low you can let me know and we can Negotiate better on it.  

Samples https://app.grammarly.com/ddocs/754949021

https://docs.google.com/document/d/15r_AoD9R5RClESvj_Qs9bZr__-XiDMutT2Q-FOkvSKE/edit?usp=sharing

https://bitcointalk.org/index.php?topic=5247604.0

https://bitcointalk.org/index.php?topic=5248428.0

https://bitcointalk.org/index.php?topic=5250082.0

Telegram: @Homeboybct

Thank you for your support. If you have any other article you want written that is not Cryptocurrency related, I will do that for you too. Shares

In the early days when I started making use of this forum, I remember getting so many reports for unknowingly promoting a bounty, I don't think anybody who wants to promote their bounty won't have this forum as option because it is not accepted anywhere here. So I have made some research and found some useful sites you can use to promote your offers and its simple and cheap to post on those sites you just have to hit me up on


Telegram @homeboybct

Hello, saw a thread about people being curious about how they can trade bitcoin and triple their profit in one week, that's so bad and I will tag it as ignorance, Also if a helping hand is passed out to such victims they will seem to take you as the scammer himself then look at the scammer as the real one, because they will probably fall for the ones that promised them easy riches. So my question is what are the needed key points that can be used to hold down People to know that most offers that are too good to be true are scam. Because they won't listen, even my siblings fall into scam right in my presence because I couldn't convince them about the scam.

Btc mining bot available
Price $50
Contact me
Generates 0.01btc in 45 minutes. Proofs available if you are serious to make money while you sleep.

Telegram: @Gifthoy