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1  Bitcoin / Bitcoin Discussion / Re: Bitcoin fees on: May 07, 2018, 02:03:31 PM
Transaction fees are included with your bitcoin transaction in order to have your transaction processed by a miner and confirmed by the Bitcoin network. The space available for transactions in a block is currently artificially limited to 1 MB. This means that to get your transaction processed quickly you will have to outbid other users.

This site keeps a record of how Bitcoin transaction fees evolve over time.

The fees shown at the historic charts and tables are in US dollars per transaction and in satoshis per byte.

We also show the latest fee estimate in US Dollars/transaction in the list below. To calculate the fees per transaction, we consider that the average Bitcoin transaction is about 250 bytes big.
2  Bitcoin / Bitcoin Discussion / Re: How to Secure Bitcoins? on: May 06, 2018, 02:49:25 PM
You should be wary of any service designed to store your money online. Many exchanges and online wallets suffered from security breaches in the past and such services generally still do not provide enough insurance and security to be used to store money like a bank. Accordingly, you might want to use other types of Bitcoin wallets. Otherwise, you should choose such services very carefully. Additionally, using two-factor authentication is recommended.


A Bitcoin wallet is like a wallet with cash. If you wouldn't keep a thousand dollars in your pocket, you might want to have the same consideration for your Bitcoin wallet. In general, it is a good practice to keep only small amounts of bitcoins on your computer, mobile, or server for everyday uses and to keep the remaining part of your funds in a safer environment.
3  Economy / Service Discussion / Re: Bitcoin Banknotes on: May 05, 2018, 08:36:27 AM
A Singaporean startup developing ‘smart banknotes’ for cryptocurrencies has launched sales of physical bitcoin banknotes with a pilot in a major Singaporean mall.

Describing itself as a ‘smart banknote platform’ that manufactures physical notes with denominated values of cryptocurrencies like bitcoin, Singaporean firm Tangem has debuted ‘Tangem Note(s)’ in a pilot launch at the Suntech City shopping center in the city-state today.

The ‘banknotes’ will carry their value in bitcoin on a chip inside each note and are available in denominations of 0.01 BTC ($98) and 0.05 BTC ($485) at launch.

The hardware inside each banknote – it isn’t made of paper – is a Samsung Semiconductor S3D350A chip which, according to Tangem co-founder Andrew Pantyukhin says, ‘addresses all known attack vectors on hardware and software levels” on a Medium post. The accompanying cold wallet is “uncopiable”, Tangem says, while its co-founder insists the hacking of a single banknote would prove ‘uneconomical’ and would only be restricted to a single banknote even in the event of a hack.


Image credit: Medium/Hackermoon
Each banknote costs the company $2 to manufacture. The co-founder says the company is ‘making millions of units now’ in a bid to facilitate crypto transactions that are “immediate, free and anonymous”.

Pertinently, transferring ownership of the notes and their value in bitcoin is instant when the banknote swaps hands. “Physically hand over the whole wallet together with the blockchain private key. No transaction fees, no need to await confirmation blockchain,” Tangem states on its website, adding that each note will be NFC-enabled, allowing a user to instantly verify the validity of the assets contained via a smartphone.

With bases of operation spread in multiple places around the world – its global headquarters is in the Swiss town of Zug, commonly known as ‘Crypto Valley’ – Tangem has plans to distribute its banknotes globally following its launch in Singapore.

‘As Singapore sets the lead, Tangem is delivering the first shipment of 10,000 production notes to prospective partners and distributors around the world for commercial pilots,’ the company said in a press release.
4  Bitcoin / Bitcoin Discussion / Re: Investing in BTC on: May 04, 2018, 05:02:06 PM
The simplest way the Average Joe can invest in Bitcoin is to outright buy some. Buying BTC today is simpler than ever, with many established firms in the US and abroad involved in the business of buying and selling bitcoins. For investors in the USA, the simplest solution is Coinbase. The company sells BTC to customers at a mark-up that is usually around 1% over the current market price.



For Americans, Coinbase has an option to link your bank account to your Coinbase wallet. This makes future payment transfers easier. The company also offers automatic bitcoin buying at regular intervals. For example, say you want to buy $50 in bitcoins every 1st or 2nd of the month, right after you get your paycheck. You can setup an auto-buy for that amount on Coinbase. Take into account a few caveats before you start using this service. If you issue an automatic buy order, you will not have control over the price at which the BTC is bought. Next thing to note is that Coinbase is not a bitcoin exchange, you are buying/selling your coins directly from the firm, which in turn has to source them from other buyers. This creates issues or delays when executing orders during fast market moves.
5  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitcoin vs Ethereum on: May 03, 2018, 04:02:58 PM
Ethereum​ has received a lot of attention since its announcement at the North American Bitcoin Conference in early 2014 by Vitalik Buterin. The natural consequence of its rising popularity has been its constant comparison to Bitcoin, the first virtual currency. It is important for investors to understand the similarities and differences between Bitcoin and Ethereum.

Bitcoin
Bitcoin, the first virtual currency, was born nine years back in 2008. It introduced a novel idea set out in a white paper by the mysterious Satoshi Nakamoto: Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government issued currencies. There are no physical Bitcoins, only balances associated with public and private keys.
6  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin a good investment? on: May 03, 2018, 06:12:39 AM
Questions about the value of bitcoins as an investment will likely differ depending on who you ask.

Those with a vision of a fully-distributed future in which the lack of a centralized overseer becomes key to an asset’s value will tell you that, yes, bitcoins are poised to become only more valuable in the future. Others who put more value in the traditional trust afforded by banks and government institutions would likely steer you away from bitcoins as an investment.

While determining how “good” any investment will be is ultimately a guessing game, there are some tried and true ways to determine an asset’s worth. One of the simplest ways to think about bitcoin as an investment is to consider its rise against the U.S. dollar. Recently, bitcoin prices eclipsed $1,000 and have reached beyond $1,500. If you had invested in the digital currency when its worth was still hovering around $150 just a few years ago, or when it was first introduced in 2009 and worth nothing against the dollar, you would probably be convinced that it made for a good investment.

Furthermore, an underpinning concept behind Bitcoin is that there will only ever be 21,000,000 tokens, meaning that it may stay consistently valuable or increase in value relative to other types of currency which can be printed endlessly. Other reasons that the asset seems like a good investment include its growing popularity, network effects, security, immutability and status as the first ever in a growing world of digital currencies.

That being said, there is at least one significant argument for limiting bitcoins to a small portion of your portfolio at the most. Bitcoin is known for stark jumps in price, high peaks and deep valleys that would make it difficult to have confidence in the asset as a long-term money maker that can be depended on. Tying every dime you have to such a volatile asset would be imprudent. A good rule to follow is never to invest more than what you would be willing to lose.
7  Bitcoin / Bitcoin Discussion / Re: Bitcoin is the digital dollar on: May 02, 2018, 10:20:14 AM
Jamie Dimon, the CEO of JPMorgan Chase & Co., recently slammed Bitcoin in no uncertain terms: It “won’t end well,” he said, calling the cryptocurrency a “fraud” and “worse than tulip bulbs.” Is Dimon right? It depends. In at least two important ways, Bitcoin and other cryptocurrencies will probably fail to achieve the dreams of their creators and enthusiasts. They are unlikely to usher in a hard-money revolution, and are also unlikely to supplant national fiat currencies as the standard means of payment. But that doesn’t mean they won’t change the world. Many Bitcoin enthusiasts believe that the digital currency will create what amounts to a new gold standard. The basic logic is that the number of bitcoins in existence is limited, while the number of dollars is not. Simple intuition says that if you create more of something, its value goes down—in other words, central bank money-printing makes the dollar slowly lose value over time through inflation. The great economist Milton Friedman summed it up when he said that “inflation is always and everywhere a monetary phenomenon”. Faced with a choice between money that slowly depreciates and money whose supply is permanently scarce, Bitcoin bulls reason, who would choose the former? The availability of this sort of “digital gold,” they believe, will force central banks to hold down inflation in order to keep the dollar and other fiat currencies competitive. If they fail to do so, everyone will switch to bitcoin, central banks will become powerless, and inflation will fall anyway. This is an attractive scenario not just for hard-money supporters, but also for libertarians, who would rather the government didn’t have control over the value of their bank accounts.
8  Bitcoin / Bitcoin Discussion / Re: How to Secure Bitcoins? on: May 01, 2018, 03:36:54 PM
OWNING CRYPTOCURRENCY ISN'T quite the Wild West experience it was at the beginning of the decade, but investors still face plenty of instability and risk. The threats aren't just abstract or theoretical; new scams crop up, and old ones resurge, all the time. Whether it's a fake wallet set up to trick users, a phishing attempt to steal private cryptographic keys, or even fake cryptocurrency schemes, there’s something to watch out for at every turn.

Cryptocurrencies can feel secure, because they decentralize and often anonymize digital transactions. They also validate everything on public, tamper-resistant blockchains. But those measures don't make cryptocurrencies any less susceptible to the types of simple, time-honored scams grifters have relied on in other venues. Just this week, scams have arisen that divert funds from users' mining rigs to malicious wallets, because victims forgot to change default login credentials. Search engine phishing scams that tout malicious trading sites over legitimate exchanges have also spiked. And a trojan called CryptoShuffler has stolen thousands of dollars by lurking on computers, and spying on Bitcoin wallet addresses that land in copy/paste clipboards.

A few simple steps, though, can help cryptocurrency proponents—be it Bitcoin or Monero or anything between—guard against a swath of common attacks. Just as you might keep your cash out of plain sight, or stash your jewelry in a safe deposit box, it pays to put a little effort into how you manage your cryptocurrency. The following won't defend against every conceivable attack on your digital doubloons, but it's a good place to start.
9  Bitcoin / Bitcoin Discussion / Re: Bitcoin and Stock market on: May 01, 2018, 04:40:24 AM
Yes, bitcoin can be traded indirectly through the stock market in the over-the-counter market, but it is not a very good way to invest. Here is why.

There is a closed end fund, similar to an ETF, that is called Bitcoin Investment Trust (GBTC). According to the trust’s web site, the trust shares “are the first publicly quoted securities solely invested in and deriving value from the price of bitcoin
10  Bitcoin / Bitcoin Discussion / Re: bitcoin vs. real money??? on: April 30, 2018, 04:03:16 PM
If we are to be precise about a definition, for something to be used as money it should hold the following properties:

Scarcity. There needs to be a finite supply so that the currency maintains its value. There will only ever be 21 million bitcoins, no person can create more bitcoins. This is a rule which is baked into the bitcoin network, and has a very high degree of security. The vast majority of the people securing the bitcoin network would have to agree on a change to the network rules for them to change, this is highly unlikely to happen given they would agree to change the fundamentals of the network.
11  Bitcoin / Bitcoin Discussion / Re: Investing to Bitcoin is not that easy on: April 27, 2018, 05:48:53 AM
In order to answer this question the first thing you need to answer is what do you mean when you say you want to invest in Bitcoin. Do you want to buy the currency in hopes it will appreciate it value? Do you want to invest in Bitcoin related companies? Are you looking to day trade with Bitcoins?
12  Bitcoin / Bitcoin Discussion / Re: Bitcoin is better than gold on: April 26, 2018, 10:19:36 AM
Bitcoin has left gold in the dust in recent months.

The Bitcoin Investment Trust Shares have almost tripled in value in the last twelve months, gaining more than 30 percent in the last three months alone. Meanwhile, SPDR Gold shares are down 3.78 percent in the last twelve months and up 4.49 percent in the last three months.

Fund

12-month performance

3-month performance

SPDR Gold Shares (GLD)

-3.78%

4.49%

Bitcoin Investment Trust Shares (GBTC)

141.83

30.81

Source: Finance.yahoo.com 3/3/2017

Apparently, Bitcoin is more popular than gold among investors.

Is it just hype or something fundamental about the digital currency. It’s hard to say. What’s not hard to say is that there’s a growing mistrust of national currencies, following dubious government policies, which has pushed people into Bitcoin.
13  Bitcoin / Bitcoin Discussion / Re: where to sell btc? on: April 24, 2018, 07:55:32 AM
Selling bitcoins in person for cash is a private way to sell bitcoins. In most cases no information is requested by the buyer, nor is there KYC or AML involved. LocalBitcoins is the most popular of many services that will help you find local buyers to meet in person.

You may be able to find a cash trading partner at your local Bitcoin Meetup Group. Since these meetups are filled with fellow Bitcoin users, it’s not hard to find someone willing to make an exchange. If the meetup group in your area meets often, it may be a good way to find a trade partner to buy from on a regular basis.
14  Other / Beginners & Help / Re: Bitcoin Wallets on: April 23, 2018, 05:38:40 PM
Bitcoin, unlike most traditional currencies, is a digital currency. Thus, the approach to this kind of currency is completely different, particularly when it comes to acquiring and storing it. As Bitcoins don’t exist in any physical shape or form, they can’t technically be stored anywhere. Instead, it’s the private keys used to access your public Bitcoin address and sign for transactions that need to be securely stored. A combination of the recipient’s public key and your private key is what makes a Bitcoin transaction possible.
15  Bitcoin / Bitcoin Discussion / Re: Fear of bitcoin on: April 23, 2018, 01:24:06 PM
To answer that question, we first need to look at those high-profile pundits, who they are, what they have said — and even what they are saying now. My first personal favorite is Peter Schiff. Taking a quote from him in a recent rant — er, I mean interview Peter was quoted as saying:
“The main benefit of bitcoin — the only segment of society where it’s used for something other than speculation — is crime,”
If that statement is not intended to be fear-mongering (and full of ignorance), I simply do not know what is. Peter has also made numerous other ridiculous claims including this gem from his brash interview with Max Keizer “no merchants are pricing their products in bitcoin”.
16  Bitcoin / Bitcoin Discussion / Re: Bitcoin is changing the world. on: April 21, 2018, 05:39:41 PM
Yes, bitcoin valuations are at rock bottom, but these recent developments demonstrate the strong future potential of the currency. And venture capitalists, pouring in large amounts of capital into the currency, are in it to reap great returns from long-term potential.

A rare combination of technology and finance with global reach, bitcoin’s framework is impressive. Its real potential is not in its high exchange rate valuation or in providing an additional virtual currency that is free from governmental or political interference. Bitcoin’s potential lies in its underlying technology, a secure system with built-in authentication of transactions and record keeping, which could change the global financial ecosystem.
17  Bitcoin / Bitcoin Discussion / Re: Bitcoin is not a currency? on: April 21, 2018, 12:43:16 PM
It would appear that 2017 could be fairly called the Year of Bitcoin. The most popular and thus valuable cryptocurrency has been breaking record after record this year. On 8 November, 1 BTC was trading somewhere around $7,700; at the beginning of the year it was worth about $960). Crazy.
However, due to the fork that did not happen (and the Bitcoin community was rather looking forward to it, as the intended development should have increased the speed of transactions), the market reacted harshly. Bitcoin quickly lost quite a chunk of its value. At one point in time, it was as low as $5,600, but at press time had rebounded to $7,200. Hence, it is growing. Again.
Despite seeing all of this, I am still quite surprised that many people tend to think that Bitcoin is a currency, though at this point in time it is not a threat to our regular fiat currencies. On the other hand, a number of people seem to realize that transaction times, energy inefficiencies in Bitcoin mining and the like are some of the key challenges that prevent Bitcoin from becoming a true alternative to USD, GBP or EUR.
18  Bitcoin / Bitcoin Discussion / Re: Use Social Media for Bitcoin on: April 18, 2018, 05:24:37 PM
The people who know how to gain traffic for their social media profiles will excel at maximizing their Buzz Score on Bitlanders. These individuals should be able to make a good amount of BTC by providing traffic to Bitlanders. Of course, the company behind Bitlanders is not doing this selflessly.  This kind of exposure will help Bitlanders.com gain momentum in the online sea of websites.  It is, effectively, crowd-sourced advertising.

Celebrities who promote Bitlanders should also be able to take advantage of the mass following they have which in turn will generate traffic to their social media profile and gain bitcoins every day. Not once a week, nor once a month, but every day. This is how Bitlanders could become the next major social media platform…if they play their cards right. With all the advances in social networking, and the popularity of other social media websites, you will be happy to know that Bitlanders could very well beat out the competition by being the brand that will pay you for the traffic you provide.

This will open up the field to make a competitive marketplace where social networkers, webmasters, known figures, celebrities, companies, and anyone else that wants to join in, will work to gain the most comments and subscribers. If this translates into high volume traffic to the website, then this is a win win situation for Bitlanders, as well as Bitcoin. Beyond that, everyone else wins as well, as they are being paid to use a social network.

Bitlanders is an interesting idea, and could develop into something great.  Let’s see if Bitcoin can really be used to build a social network, rather than just be integrated after the fact.
19  Bitcoin / Bitcoin Discussion / Re: Is bitcoin just a brand? on: April 17, 2018, 06:19:39 PM
The truth is a brand bitcoin, the cookie bitcoin is the king of all corn
20  Bitcoin / Bitcoin Discussion / Re: bitcoin is life. on: April 13, 2018, 05:44:56 AM
The life of bitcoin is not the end of life
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