actually panic sell can be avoided if only the beginners know that all this is just a scenario and cycle. there are many members here who say to hold bitcoin, but they are still afraid. it's best to make these moments a lesson for making better decisions in the future.

Fees are going through the roof, block space is needed like water in desert and condoms in the red district.

And yet you have these PoS , doing this
https://blockchain.info/en/blocks/AntPool

Miners are going to play with bitcoin just like banks are destroying fiat.

Sajnos csak akkor, ha elég nagy az aktivitás. Napi jó pár bejegyzés kellene.

Bitcoin 'is a fraud' that will 'blow up,' says JPMorgan Chase CEO Jamie Dimon
Is this a fact or he is just creating another FUD?

See the two sides below
"Speaking at a bank investor conference in New York, Dimon said, 'The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.'

"Dimon predicted big losses for bitcoin buyers. 'Don't ask me to short it. It could be at $20,000 before this happens, but it will eventually blow up.' he said. 'Honestly, I am just shocked that anyone can't see it for what it is.'

'Like it or not, people want exposure to bitcoin,' Edward Tilly, chairman and CEO of exchange group CBOE Holdings Inc., said at the same conference.

Any good trade is started with a difference of opinion, Tilly added. 'So Jamie can be on the short side and the issuers and those trading in physical can be on the long side, and it sounds like we have a great trade.'

you hand bitcoin to the service.

the service privately sells the bitcoin for fiat on exchanges to refill its fiat reserves,

the fiat reserves the service have are used to topup/charge/load the debit cards

but all the customer see's is that they hand over bitcoin and get credited fiat on their card

***
Just a quick math, let's check the figures and forget about the technology, history, etc. behind the coins for a little while, let's say they're more or less equal in terms of usage and trust.
BTC has the price of $4,000 roughly nowdays. ETH is about $300. To gain a 100% profit out of them for BTC you have to wait a rise of another $4,000, to get the price to $8,000, just to double your investment (considering you're joining the club now, and have to buy your first coins now on market price). For ETH, it's only $300 which is not a really huge amount, compared to BTC. If ETH grows $300 and the price gets to $600, the price of $1,000 is not far away, that gives you more than 200% return on investment on the same period of time. It's just a quick calculation, based on the assumption that the two coins are nearly equal in usability and trustworthiness. But real life is not this simple

Online wallets are never safe especially when they're on exchanges. The best is hardware wallets or paper wallets but they're also not 100% secure. Better is to use an old Android device, configure it once, get all the back ups and use it as a cold storage.

The idea of keeping piles of cash in high security vaults may sound like something from an old movie plot, but some banks and insurers have recently started considering the idea as interest rates sink below zero across much of Europe.

Europe’s highways are not yet jammed with heavily guarded trucks transporting money to top-secret locations, but if it becomes financially sensible for banks to hoard cash as rates are cut even further, the practice could undermine central banks’ ability to use negative rates to boost growth.

After the European Central Bank’s most recent rate cut in March, private-sector banks are paying what amounts to an annual levy of 0.4 per cent on most of the funds they keep at the eurozone’s 19 national central banks. This policy, which has cost banks around €2.64bn since ECB rates became negative in 2014, is intended to spark economic growth by giving banks the incentive to lend money out to businesses instead of holding on to it.

Private bankers and insurers are already thinking of creative ways to avoid those charges altogether.

One way is by turning the electronic money they keep at central banks into cold, hard cash. Munich Re has experimented successfully with storing a double-digit million sum of euros in cash at what the insurer describes as a manageable cost. A few other German banks, including Commerzbank, the country’s second-biggest lender, have also considered taking the step. But when a Swiss pension fund attempted to withdraw a large sum of money from its bank in order to store it in a vault, the bank refused to provide the cash, according to local media reports.

If this practice becomes widespread, it would have big economic implications. If banks are not paying central bank interest charges, then they will not be as affected by further official interest rate cuts. They therefore would not be spurred to lend out more money.

That's really a great news to see that we are gaining momentum but still, this is just a single step towards global crypto based economy. Here is the summary of transaction volume of various payment methods, even though the data is old but still it gives a little idea of where we stand today and there is a lot more to achieve.


I am sure that in next 10 years Bitcoin will be number 1 choice for the worldwide payment transfers.

There's a lot of good responses here already, but I want to add that password strength is usually measured in bits of enthropy, for easier comparison with recommended values of security level. For a long time 80 bits of security were considered the minimum requirement, but now this number was increased to 112 bits.

So, how many bits there are in your example? Well, the formula is easy -



Your L is 8, while your N is 10,000, so H = 106.3

This means that it's unlikely to get brute forced now, but it might become crackable in 10-20 years with your home pc.