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Most of the retailers and restaurants allowing Bitcoins for the payment for the simple way. I spend my two bitcoins in restaurants only. Even, small shops accepting the crypto currency to overcome from the third party commissions.
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BTC or Bitcoin is the new technology developed for exchanging money and security purpose. No intermediate transactions are there and the transaction fee is very less. Simple and easy to use online application allows for multiple purposes.
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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.Selling online to a brokerage or on an exchange is a decent way to cash out. Fees using these methods are usually 0.2-1% per trade.
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torbrowser hiding original ip address,Both of them are the best available privacy and anonymity protecting tools. Tor for browsing and Bitcoin for transaction. It becomes almost impossible to trace either of those things. Let us say that you surfed a deep web version of amazon to buy something illegal. You most certainly don't want to get caught in anyway. You use Tor to access that site, so the browser won't leave any trails or history or cookies. You found your product and want to buy it. Our normal secure banking can be easily traced. So, bitcoin, which uses a massively encrypted and mathematically complicated method of payment, helps you in keeping your payment safe, sound and untraceable.
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Bitcoins are a modern equivalent of cash and, every day, another merchant starts accepting them as payment. We know how they are generated and how a bitcoin transaction works, but how are they stored? We store fiat cash in a physical wallet, and bitcoin works in a similar way, except it's normally digital.Bitcoin wallets store the private keys that you need to access a bitcoin address and spend your funds. They come in different forms, designed for different types of device. You can even use paper storage to avoid having them on a computer at all. Of course, it is very important to secure and back up your bitcoin wallet.
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It's not gold, but it will be more goldy than gold.  Bitcoin is obviously called as digital cash and it can also be considered as digital gold because, we can get good profits by investing on bitcoins its value gets high day by day same as gold or more than gold infact.
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The usage of bitcoins is increasing rapidly all over the world, its market is becoming more positive and the price has become more stable.
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How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
I think the biggest cause of Bitcoin death is government. When Bitcoin is involved in many illegal activities, the government will not let it work anymore. Besides, the simpler cause is that the Bitcoin organization stops providing and exploiting Bitcoin. All the above causes are hypotheses. I believe that Bitcoin is not so easy to die I don't think the governments can make Bitcoin die. In the first moment, Bitcoin was made to work without any dependence so that without any government's permision, Bitcoin will still alive. maybe the governments can ban or monitor you, aply Penalties and fines if you use btc Their is no chance of a death to the bitcoin.As long as internet is alive, bitcoin is alive.
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The examples given here are wrong and misleading.
The problem is not that it is not possible to compute the private key, because there is more than one solution (like in the case of abs() or the sum of numbers). The problem is that it is possible, in theory, to compute it, but the computation is so hard that it is practically infeasible.
Do not confuse asymmetrical cryptography with hashes. A hash is impossible to reverse, because many different inputs can result in the same output. (It's just that there is no easy way of finding all of them - or even any one of them.) A private key can be computed from the public one - but it is very, very hard - hard enough to be practically impossible.
For instance, if I ask you what is the product of 31 and 37, the answer is easy - 1147. But if I ask you what are the prime factors of 1147, that's a hard question. The easiest way to answer it is by trial and error - you try to divide 1147 by every prime number smaller than the integer part of its square root until you find a number that divides it exactly (the first such number is 31). When the numbers involved are very large it becomes practically impossible to answer such questions. (With large numbers there are faster methods than trial division, but they are still too slow to be practical.)
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Factional reserve banking based on Bitcoin is perfectly possible and will not increase the amount of existing bitcoins (although it will increase the money supply in a broader sense, with money equivalents).
But I don't think that this is what you are talking about. You are looking for proof of solvency of the exchanges. I don't think that this is possible. Sure, they can provide proof of reserves - but there is no way to prove that these reserves are exactly equal to the funds deposited by their clients.
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Maybe they wanted to take out a large hedge fund who has tons of short positions by surprise Central banks don't endanger their huge holdings and their country's economy for petty revenge like that. No, there must have been a better reason. I just can't figure out what.
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I don't totally agree with this article I totally disagree with it. Dr. Keith Weiner's articles often contain very weird reasoning and many economic fallacies. (For some reason, they remind me of Prof. Antal Fekete's meaningless and nutty rants.) This particular article it so wrong in its reasoning that I just don't have the time to list all the errors in it here. For some discussion of them, see this comment.
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They couldn't sell a portion of their EUR holdings, without the market finding out. That's not what I meant. If they had announced their move on a Saturday, most traders would have been out of the market and the rest would have had two days to think about their positions. The CHF would have still jumped on Monday, but not by that much because it wouldn't have been a panic-induced move. A smaller increase would have meant lower losses for the SNB euro holdings and for the Swiss exporters. No need for the SNB to actually sell anything; I was referring to the marked-to-market value of their euro-denominated assets.
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I guess they really didn't care about losses to traders.  Everything is connected.  If they hadn't caused such an earthquake on the currency market, the CHF wouldn't have jumped so much compared to the EUR, which means that SNB's euro holdings would have lost less and the Swiss exporters would have been hurt less. I still have no idea why they did it that way. These things never happen by accident. They knew very well what was going to happen, yet they chose to do it nevertheless. There was a reason behind it, a reason why it looked like a good idea to them. I just can't figure out what it was.
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It's a clear fact that they can't continue to peg francs on euro or else this will have negative on their economy. It was a "damned if you do, damned if you don't" situation for them, really. If they maintained the peg, they would see their balance sheet expand even further while the value of their assets plummeting and be accused of causing inflation by devaluing their domestic currency (which they are supposed to protect). By abandoning the peg they have incurred huge losses on their euro-denominated assets and have caused tremendous pain to the local exporters, who are most of the Swiss industry. The proper thing would have been not to peg in the first place and let the CHF raise gradually, driven by market forces. Also, it was utter idiocy to announce that they are abandoning the peg on a Thursday. They could have waited until market close on Friday, when most traders are out of the market and the rest have 2 days to think about their positions - then the dislocation wouldn't have been so big and the losses to the traders would have been smaller.
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Oh, I am diversified. It's just that a collapse of the euro will hurt badly significant part of my wealth. It won't destroy it all, but it will be very painful. My home currency is pegged to the euro, thus my direct income and a large part of my assets are essentially euro-denominated. Plus, it is really unknowable how an euro collapse would affect my other assets. Presumably, some will go up (gold, USD), at least relative to the euro-denominated assets, but a major financial dislocation of the markets usually has bizarre unforeseeable consequences.
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How could you pay back 8x more debt without your income increase by 8x? This isn't debt, it is inflation. They didn't print CHF in order to buy government bonds (like the Fed does); they printed CHF in order to buy EUR and maintain the peg. Since this week the ECB is expected to start some major printing, the SNB was worried that the value of their EUR holdings would plummet (which it did anyway - by about 25%), so they decided to stop digging themselves even deeper in the hole. What it probably means is the beginning of the collapse of the euro and maybe of the EU. Sucks, really, since much of my wealth is tied up in euro-denominated assets. Not all, of course, but it will still hurt me badly.
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maybe there will be a currency pegged to BTC which is more stable This is a logical impossibility. My guess is that you do not understand what the word "pegged" means.
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What would be the point? Suppose that at some point of time in the future, an individual is found in possession of some of the stolen coins - e.g., because he paid for something with part of them and you were monitoring all addresses that have received them and he didn't try to hide his identity.
What then? Is this the hacker? You have no way of knowing. He can say "I bought some via Localbitcoins in a cafe from somebody I've never seen before and who didn't tell me his name, maybe they are from there".
We can follow all transactions involving the stolen bitcoins but unless you can discover the identity of the person behind every single one of these transactions, there is no hope of catching the thief.
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The Trezor device has access to your private keys. Therefore, it is correct to assume that if the device is compromised, you could lose the BTC stored on it.
Can the device be compromised? For instance, can the attacker convince it to run software supplied by the attacker?
From time to time, the firmware on the device has to be updated. The update is downloaded from the site of the producer and signed with several (3? Don't recall any more) secret keys of the developers. The signatures are checked with the public keys of the developers, which are stored in the firmware of the device. Can this process be subverted?
If the PC downloading the new firmware is compromised, the malware on it can modify the new firmware - but it would invalidate the signatures. Therefore, a different approach is needed.
One possibility is if the signing (secret) keys of the developers are compromised - either by a disgruntled employee, or because they go rogue, or because the company is hacked. Such things have happened in the past. However, several keys would have to be compromised (and the breach not noticed); just one would not be enough. While not impossible, I consider this highly unlikely.
There is another approach, however - one that exploits not cryptography but human nature. We call is "social engineering" but it's basically lying and manipulation. Suppose that the malware on the compromised PC intercepts all communications to and from the company server and changes the firmware update page. It puts a HUGE warning that the company's keys have been compromised, there are new ones and the new firmware is signed with them, so trust us and ignore any warnings from the device - with screen shots of what to do and everything. (The same thing can be achieved by hacking the company's site - but that would be noticed and fixed fast enough.)
While many people will realize that something is fishy, many more would not. And a successful scam doesn't have to work on everybody - it only needs to work on enough people to be profitable.
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