You want information about merit sources . What do you plan to do after getting that  information as you have already ruled out the possibility for merit begging ? Will you go through their posts and start commenting there to get their attention ? This will not work with the merit sources as they are very much experienced and will easily spot this behavior. They may even add you to ignore lists. Forum admin has intentionally kept the identity of these merit sources secret as he was aware of the possible consequences of revealing it.

And the best part is that he did not even check if all those threads are open or not. He added those giveaways which are closed as well like this https://bitcointalk.org/index.php?topic=2843413.0 .

However, seeing that he is still a junior member, I still appreciate the time he took to compile the posts as one place. There is no way to gain merits fast. In my opinion, you should be fine with your current pace, there is no need to hurry about it. Gaining knowledge and Shari ideas with members should be your primary purpose here, merits will follow.

One of the common problems people face while buying first cryptocurrency is regarding the payment medium. You will find that the exchanges are ready to accept a number of payment options. As payment methods often fall into the prey of scam seller, so bank account and credit card transfers go through a number of imitations. However, with bank and credit card, you also get wire transfer and PayPal transfer in few exchanges like Coinbase. Nowadays you get bitcoin ATMs to exchange bitcoin through compatible wallets, but that is available only in few cities.

Yes, you can do this but pay all taxes. Here is how you can buy:

Go to the exchange of your choice, and browse to see their “buy” section. Select the amount of bitcoin you like to purchase. You will find the recent high price of bitcoin in every exchange and you could easily buy less than one bitcoin on these exchanges. You can divide bitcoin up to eight decimal places. This denotes one can buy 0.11 bitcoin, 0.001 bitcoin or even 0.00000001 bitcoin, the one that suits your budget. Now depending on the kind of exchange you have performed you can purchase bitcoin using a credit card, bank transfer or through cash.

No one will then reply to user queries here than. Coming back to question, to remove the trader from the between while buying bitcoin, you simply need to choose an exchange. When you compare exchanges look at the fees they charge and payment methods offered. For those who want to follow a guide on how to buy bitcoin will always get the obvious suggestion of using Coinbase, which is available on both mobile and desktop. However, other than Coinbase you also have CEX, BitcoinExchangeSearch, LocalBitcoin, and BitQuick. All are good enough for the beginners to buy bitcoin.

Too many people Bitcoin is a payment mode. Instead of using £1 coin or $1 bill, someone will be paying by 1 Bitcoin. However, Bitcoin is much more than that. It is not just a currency, but a part of a large network called Blockchain Technology that securely keep a tab on the ways of sending money to someone in any part of the world.
Bitcoin is different from the Dollar bills and Euros. There is no treasury involved in issues the coins. Those functions come in-built in bitcoin powered by the Blockchain making it both controversial and attractive.

I agree with you, bitcoins certainly has the potential to live forever.

Bitcoin, almost everyone out there is shouting about it. It seems like the whole world has gone crypto-intrigued since last year. Though recently there was news that Bitcoin value has dropped, nothing has stopped people from investing in cryptocurrency.

It all started in 2017 with a mark of 1000 USD and by November 20, 2017, Bitcoin has reached nearly about 8000 USD mark. On the last day of the year, Bitcoin was at $14,219 USD.

For the beginners who are looking for guides on how to buy bitcoin, must have the five necessary things listed below –
•   A bitcoin address that acts like bank account number also called as the public key
•   A bitcoin wallet, which is a secure place to store your bitcoin
•   Bitcoin exchange where you can convert cash to bitcoin
•   A debit or credit card to buy bitcoin
•   Proofs of identity say a passport or driver’s license

The past attack of the ransomware and the ransoms asked in Bitcoins has forced many critics to speak against Bitcoins.

Nevertheless, people are investing in it and Indian investors are showing high interest as well. So, how safe are the bitcoins?

Coming to the point, you will find that Bitcoin network is not working in a single network or from a particular warehouse. It is actually a peer-to-peer network and the transaction takes place under an authorized network of miners. The grid in this network has high authority and the computing power is actually very heavy.

If you are thinking to take bitcoins down, you will actually take down the whole internet. Now you can understand what amount of risk is required to hack the network of the bitcoin. This is one of the secured open networks. But there are some do’s and don’ts when it comes to bitcoin trading –
•   If you are going for bitcoin mining then be careful while buying equipments. Since most of them prove to be frauds, hence do your homework and avoid falling into traps.
•   Do not fall prey to binary tree businesses
•   Look for a transparent module and check the contract and fees before it comes out in public
•   Do make sure that you have done background check of the cloud miner

Completely agree with you, there are risks associated with bitcoin investment and if they loose money they  will blame you. We know that investing in bitcoins does not tell that they are safe as an investment option. However, if you play safe you are sure to avoid the disasters in investment. In case if you want higher returns you will find that there are risks associated. With less investment, you can avert bigger risks. You cannot deny the fact that this is applicable to all kind of investments.

I cannot say much SriLankan government but there are a lot of doubts regarding bitcoin situation in India.

The craze of bitcoins is more among the younger generation who are tech-savvy and comes with practical understanding, which is definitely better than the old Wall Street players are.
Bitcoins are not only popular in the USA. Purchasing and trading Bitcoin has recently passed on to other countries like India. However, the Indian government has asked the investors to stay away from the bitcoin exchange. However, there is no news about bitcoin being illegal in India.

That reality is as per your perception. Different members have their own criteria while giving merits. Some might be giving merits to the posts they just agree to . Some may have asked an urgent query and if some member helped them with the response in very less time, they might consider the activeness while awarding merit.

Most of the members here already have all the basic information about bitcoins. Those who have no idea, join as a newbie after finding this forum through search engines. Even if thyer find your ideas useful, they have no merit to give to you.

It is yet a big mystery whether bitcoin investment is a scam or not.The investment critics hold a variety of opinion and they do not fully confirm the process of bitcoin investment. However, the process is highly secure as it works under the protected Blockchain network that activates from various servers. You will find that the processes involved in the cryptocurrency exchanges include a number of gateways. When you pay or purchase bitcoins, it has to pass through a number of gateways for proper verification. If the gateways find the transaction that we are carrying is safe and not a fraud, then it allows the other party to purchase and transfer the bitcoins to another bitcoin wallet.

Indian has not banned crypto yet. Bitcoin should have some measures and must take up the challenge to meet the correct goal. Hence, on February 2018 there is news everywhere in India that taxable charges on bitcoin along with rules and regulations are going to come into action. This will help investors, recipients, and non-investors to understand the fact behind bitcoin investment and how safe is it.

In India, there are no separate taxes yet. The only taxable rules that can make bitcoin fall under it in the Section 55A. However, the income tax rules demand amendment as there are no capital gain taxes involved in self-generated assets. This clause makes it even more doubtful for the investors to know whether bitcoin trading falls under any regulation or not. However, bitcoin mining falls under the taxable income for every exchange that sums up to 1 percent, yet investors are in the air of doubts.

I am really thankful that you shared information about books related to bitcoins. I do keep reading all the information and news about bitcoins online but books can be a good company during travel and places where there is bad internet connection. There is a different type of feeling associated with reading from text books and I really miss that very much. I will go through the reviews of the books you listed here ad may be buy some to read in free time. Is there also some magazine with updated news about cryptocurrency ?

That is the most important think. You should create multiple backups ans store them in different places. Even if you loose one usb, you can get the desired private keys in another backup that you created. In addition to this, to not forget to tell about this to a close relative. This should be a person you can always trust. In case something unfortunate happens to you, you can expect that person to withdraw the money and distribute it between the family members you want. I know that young people might not like this idea but death is something unpredictable.

You better use report to moderator option for his posts that you think are not appropriate. If he is doing this in all his posts, you may create  separate thread for this but do this only if extremely required. This thread is for reporting users abusing the merit system and thus report only such cases here.


I would also like to report possible abuse.

https://bitcointalk.org/index.php?action=profile;u=1144038

This member has sent 5 merit points to same member for non deserving posts.  https://bitcointalk.org/index.php?action=merit;u=1144038

Looks like a lot of accounts are involved and they are completing 10 merit points on each other to reach member status.

1) That is one of the big limitations of the merit system. It was good that members here are able to recognize some merit abuse cases and report them. It happened because merits were sent in bulk like 20 or more for a single post. But, if someone is mart enough , he can still get away without being noticed. Since, all default merits of those cheaters will be spend on alt accounts in batches, this makes the situation more difficult for a new member with only one account

2) That are quite a lot of rules. I am in favor of steps being taken to remove spam from the forum but we should be keeping things simple.