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1401  Bitcoin / Bitcoin Discussion / Re: WTF is Bitcoin? on: February 10, 2018, 08:09:27 AM
WTF Is Decentralization
To start to understand Bitcoin, you have to first understand decentralization, because that’s one of the primary value propositions of Bitcoin. Traditionally, when you spend money, the receipt of your transaction has to be recorded somewhere. In this way, banks and credit card companies can keep track of what, where, when and why you spend. The place that it’s recorded is referred to as the ledger. But just as important as recording onto the ledger is maintaining the legitimacy of the ledger. To clarify that, let’s take an analogy.
Bill and Rebecca are finalists in a spelling bee. There is one judge. There are 999 audience members. Each contestant earns a point every time he or she spells correctly. That information is recorded on the judge’s ledger. Currently, the score is tied at 26 to 26. Here are a few scenarios that could happen to make the contest unfair:

Malicious Scenario 1: A bathroom/stretch break in the middle of the competition. The judge leaves along with Bill and Jane and the rest of the audience. But someone from the audience sneaks over to the judge’s table when everyone’s gone and adds a few points to Bill’s score. The judge returns and doesn’t notice, but now the score says 30 to 26.
Malicious Scenario 2: The judge’s daughter is Rebecca. Because he wants to improve her chances to get into a super awesome educational institution, he decides to add in a few points to Rebecca’s score.
Malicious Scenario 3: The judge decides that spelling alone is not impressive enough. He wants them to start singing the letters. Bill is a worse singer than Rebecca so he now has a huge disadvantage.
1402  Other / Off-topic / Re: What wallets do you use? on: February 10, 2018, 07:51:40 AM
Bitcoin Core
The most important software wallet that you’ll find is the native Bitcoin software. It comes attached with a core node and gives you all the features that you could possibly desire. Bitcoin Core builds on the native client by giving the option of handling all your tasks through a graphics user interface (GUI). So really, this is the wallet for you if you’re seeking a balance between power and access.
1403  Bitcoin / Bitcoin Discussion / Re: Should I buy BTC? on: February 06, 2018, 03:50:26 PM
Your question should really be “is the price of bitcoin going to go up or down?”. Nobody knows on any given day. So, wait or don’t wait. It’s just a gamble really.
1404  Other / Off-topic / Re: If bitcoin goes to zero on: February 06, 2018, 02:08:34 PM
That's not possible, as it would require for there to be no person willing to purchase any. There are a lot of hardcore bitcoin supporters who will support it to the end of days.
1405  Economy / Trading Discussion / Re: Can bitcoins be converted into cash? on: February 04, 2018, 10:21:42 AM
Absolutely. There are a number of ways to do this, nearly all of which are to a certain degree convoluted.

Personally I prefer to transfer them to a debit card and then I can use that to spend or withdraw as normal.

There are a bunch of bitcoin debit cards around and they all serve much the same function but remember you are still paying with a Fiat Currency such as EUR, GBP or USD.

There are a number of prepaid debit cards that can receive bitcoin as a top-up method but they are converted to the Fiat currency for use with the card.
1406  Bitcoin / Bitcoin Discussion / Re: Why is bitcoin the most popular cryptocurrency? on: February 04, 2018, 09:57:50 AM
Bitcoin may be the next Blackberry. It’s the first cryptocurrency that gained real exposure and real traction.

Just because Blackberry was the first smartphone, it didn’t mean that it was the best. Wait until the next Apple or Samsung appears on the horizon, just in a cryptocurrency edition.
1407  Bitcoin / Bitcoin Discussion / Re: Should we buy now or sell? on: January 13, 2018, 03:39:12 PM
Buy low, sell high. Those are the basics, but I would suggest not to ‘buy lots of ethereum’ because like any digital asset it is highly volatile and has already appreciated over 2000% since the beginning of the year. So it is not cheap at all. Buying any cryptocurrency in small quantities would be a wise move.

Recently the sudden rally in cryptocurrencies has led to a steep correction in the market. As people are booking profits and prices have gone down a bit.
1408  Other / Off-topic / Re: Best way to earn Bitcoin on: January 13, 2018, 03:30:46 PM
Offer something for Bitcoins

 Way to earn Bitcoins online is to sell something for crypto. If you are keen on handmade, you can accept BTC on your ETSY page, and if you are a merchant, you can use your Bitcoin address to accept Bitcoins payment on your website. You can also hang a “Bitcoin Accepted Here” sign at your hotel, restaurant, café etc.
1409  Bitcoin / Bitcoin Discussion / Re: Should we buy now or sell? on: January 13, 2018, 03:23:45 PM
I would not be surprised to see ETH back at the highs in the next 12 months. But just a guess. The limitless ideas, and potental of this technology and slow implementation of ETH is stellar.
1410  Bitcoin / Bitcoin Discussion / Re: Should we buy now or sell? on: January 13, 2018, 03:16:46 PM
Yes, I highly recommend it. I wasn’t bullish on Ethereum but put in $2,500 two to three months ago just to diversify. In that time span, it doubled, and I sold at $5,500. [1]

I’m not holding any Ethereum at the moment since it’s been stagnant last month or so, but I am very bullish on it and will get back when it breaks out of the stagnation. Right now would be a good time to buy and hold, as the price is low.
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