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121
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Bitcoin / Bitcoin Discussion / Re: Tax Collector to Accept Bitcoin
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on: May 16, 2018, 12:39:09 PM
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Seminole County is the first government agency to use BitPay to process services, and representatives for the company said they believe it is the first government agency in the US to accept cryptocurrencies.
While bitcoin has garnered significant attention over the past year, it's widely believed to be too costly and impractical to use for small payments. The cost of individual bitcoin payments skyrocketed in December at the height of the cryptocurrency's price and popularity, and BitPay itself even temporarily banned bitcoin purchases under $100 as fees on the network hit a high of $37 per transaction.
The first government agency to accept bitcoin for their services as well as tax was not Seminole County in Florida but the Municipality of CHiasso in Switzerland. The Municipality of Chiasso became famous in 2017 for accepting bitcoins and this year Seminole County have become the hot topic due to its move to accept bitcoin. Hope their will be more countries around the world that will follow their footsteps. |
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122
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Bitcoin / Bitcoin Discussion / Re: Cheap electricity in Africa
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on: May 16, 2018, 12:29:55 PM
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The electricity is very cheap but since the temperature is very high the mining rig will have a higher chance of overheating. And if you place cooling system the electricity expenses will be the same with other miners on other countries. To answer this problem I guess the only solution is to install a solar power panels to power up the mining rig operation. With these alternative energy supplies the miners will not only save in power but also in monthly power bills.
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123
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Bitcoin / Bitcoin Discussion / Re: Is bitcoin a threat to USD and Pound Sterling?
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on: May 16, 2018, 12:19:37 PM
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Hello guys,
Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?
if yes, give an estimated time this can happen.
Bitcoin is never a threat to USD, pound sterling or to any other fiat currencies all around the globe. Cryptocurrencies were not made to destroy fiat currency but this is made to complement the fiat currencies to overcome its weakness which is the monetary deflation due to economic collapse or overprinting of paper money. Though bitcoin is not a threat to the current fiat currency it is a threat to the banking system since bitcoin wants to us to be our own banks and will no longer rely on the unjust and unfair traditional banking system practices. |
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124
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Bitcoin / Bitcoin Discussion / Re: How do you think lightening network will affect algotrading?
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on: May 16, 2018, 12:09:58 PM
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Lightening networking is the next update on blockchain, we are curious to hear more about what YOU know about lightening network!
To understand what is a lightning network we must check out its meaning first. According to Wikipedia lightning network is a ""second layer" payment protocol that operates on top of a blockchain. It enables instant transactions between participating nodes and has been touted as a solution to the bitcoin scalability problem." So what are the advantages that the lightning network will give us: 1. A better privacy - This means not all transactions will be stored on the blockchain unless if payments were paid by both parties. 2. Faster confirmation of transactions - Transactions will be confirmed in just a click of a second 3. Smaller transaction fees - unlike the high fees today the lightning network may give us fair fees |
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125
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Bitcoin / Bitcoin Technical Support / Re: How to recover my lost bitcoin wallet password?
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on: May 15, 2018, 02:38:14 PM
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If you are storing your bitcoins on a wallet with private keys then you can use those private keys to access your wallet even without the password. But if you created a wallet but you do not have the private key because you created your wallet on a website that hosts a bitcoin wallet then all you need to do is to contact their support.
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126
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Bitcoin / Bitcoin Discussion / Re: First China Now South Korea
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on: May 15, 2018, 02:34:26 PM
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First China Now South Korea banned bitcoin now many people think bitcoin price may fall down and they sell their bitcoin
If you look at the date of the post it was posted last year 2017 and eventually South Korea did not ban cryptocurrencies. I guess this topic must be closed already since South Korea is no longer banning bitcoin and other cryptocurrency and this post may create wrong information and panic on the bitcoin community. At this point of time the cryptocurrency market movement in South Korea is stable. |
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127
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Bitcoin / Bitcoin Discussion / Re: Facebook makes its own coin, will it be selling in the market?
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on: May 15, 2018, 02:31:26 PM
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Facebook have attempted to create facebook money before but it ended up as a failure and using the same idea but in the form of a digital money powered up by blockchain technology; facebook once again is thinking to create a cryptocurrency to suit their purposes but one thing is clear and that it will take a very long time before they can realize their idea and at the same time there will be no ICO for that crypto. |
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128
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Bitcoin / Bitcoin Discussion / Re: With Bitcoin Maximum cap . Can it be used by the whole world ?
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on: May 15, 2018, 02:24:23 PM
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The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?
Bitcoin can actually be used as a digital money or currency but the reason why the world is not accepting bitcoin as payment is not due to its maximum cap but it can be traced to the acceptance of the community towards bitcoin. Even if you have 1 billion bitcoins ot 1 Trillion bitcoins and the people are not accepting bitcoin as payment then it is still cannot be used as a money or currency. |
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129
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Bitcoin / Bitcoin Discussion / Re: Bill Gates to Bitcoin
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on: May 15, 2018, 02:09:04 PM
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anybody who has been around for a little while knows the horror stories that come from those who short bitcoin...
anyways, this may sound a little strange but i am actually glad that they are saying these things publicly. if we can get some of the newbies who are only in bitcoin for the "investment" part an to "make money" out of it then the result of all this is positive. it is also known as flushing the newbies out.
It is really flushing the newbies out since they will be afraid to put their money into bitcoins since Bill Gates have planted the seed of fear to them. Bill Gates has 46.1 million followers in twitter so you can imagine that if those numbers read his comments and believe then a huge number of people will no longer invest in bitcoin. But let is just hope there will be no big negative effects on bitcoin economy as a whole. |
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130
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Alternate cryptocurrencies / Altcoin Discussion / Re: Microbitcoin HARD FORK from Bitcoin on 26 MAY 2018
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on: May 15, 2018, 02:03:49 PM
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https://microbitcoin.org/Anybody have some idea about this ?? Total Supply : 210.000.000.000 with 3% pre-mined For 1 BTC you will get 10.000 MBTC Microbitcoin or MBTC is just another split from bitcoin. This version of bitcoin uses hardfork and soon it will be out in the market. If you heard bitcoin cash or bitcoin gold they are in the same category since they split themselves from bitcoin during a fork. Also during the fork if you have 1 btc you will be given a free 10 MBTC so I guess before the fork bitcoins value will go up because people will want to have a free microbitcoins. |
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131
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Bitcoin / Bitcoin Discussion / Re: Centralized Companies Into Decentralized Ecosystem
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on: May 15, 2018, 01:50:36 PM
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Bitcoin is getting famous and most of them are accepting this crypto currency because of its growth and usefulness. Bitcoin & Bitcash is accepting many banks nowadays because they are watching this on trial basis that blockchain system is profitable or not but it is normal they will accept this currency after few days later because it has bright future and the price of bitcoin is always high for bank usually they used gold for reservation but now they can use bitcoin also because many gold users are turning here. Also many big company are like to use blockchain system because of its usefulness.
The centralized companies who are thinking of using the blockchain technology is not saying that they will accept and use bitcoin but rather they just want the technology to be incorporated into their system. This does no automatically mean that they will accept bitcoin or any cryptocurrency but rather they will just exploit the technology for their own biased purposes. |
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132
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Bitcoin / Bitcoin Discussion / Re: Question about Bitcoin Cash Hardfork
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on: May 15, 2018, 01:40:48 PM
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This simply means that bitcoin cash will have its own split when the hardfork comes. The name for the hardforked bitcoin cash will be Bitcoin ABC. The difference between bitcoin cash and bitcoin abc is that bitcoin abc has a large blocksize than bitcoin cash. If bitcoin cash have a blocksize of 8 megabytes, bitcoin ABC is even more stronger with a blocksize of 32 megabytes. |
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133
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Other / Beginners & Help / Re: creating real crypto community
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on: May 15, 2018, 01:25:53 PM
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I am starting to identify individuals having crypto or member of any forum regarding woth crypto. Aside from my brothers and sisters i know that there are individuals here in our community that involves in crypto and inhave already pin point some.of them. So now i guess the real crypto community we will be forming and we will be having an objective for the crypto real community and that is to promote the welfare of the group with the updates on cryptocurrency.
There is no need for such thing since we already have a crypto community and they are the very same people who are into this forum. Your objectives in forming a group is good but still you will have a hard time having a consensus since everyone have its own idea that they want to follow. If you have successfully created a community other than this forum, you will find out soon that it will eventually be in chaos and break apart since the crypto cummunity have its own biases. |
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134
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Alternate cryptocurrencies / Altcoin Discussion / Re: The effect of altcoin on bitcoin?
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on: May 15, 2018, 01:13:58 PM
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Since the advent of bitcoin in 2009 led to cryptocurenccy experts competing to make another new coin like bitcoin, this is ALTCoin, where ALTCoin moves at the rate of bitcoin, most people use ALTCoin as the fastest way to collect bitcoin , because the rate or rate is often very promising against bitcoin, began the emergence of many ALTCoin make some coin is just a boom but also many investors and the various types.
What is the effect of increasing the amount of altcoin on bitcoin?
In todays cryptocurrency world everything relies on the bitcoin market and you can observe that when bitcoins value fell down everything fell down and when its up every crypto market becomes green. But with regards to altcoin, the more people altcoins comes in to the coinmarket the more the price of bitcoin goes up since before you can buy any altcoins you will need to have bitcoins. |
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135
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Bitcoin / Bitcoin Discussion / Re: Is humanity prepared to be its own Bank ?
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on: May 14, 2018, 12:44:54 PM
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I've been reading many cases in this forum about bitcoin losses, in fact too many cases. So If all this happens to people with computer knowledge... imagine the masses, I mean "normal people" like your neighbours, grandmas, fathers, etc... The truth is that right now I can't imagine them playing with electrums, wallets, backups, etc.
I wonder if we (like a society) are prepared to be our own Bank.
For other hand, I'm also wondering if we're being too innocent talking to others about the bitcoins we own. If this project has the success that is expected, we could be hunting targets (especially if new fiat economic crises come) the day of tomorrow. It's not difficult to imagine in the near future people robbing other people, but this time asking for private keys or seeds instead few dollars cash in their pocket.
The humanity in general is not prepared to be its own bank since the majority of the masses are not into cryptocurrency and only a few people and not even 1% of the worlds population are using cryptocurrency. Also the same people who have bitcoin are the same people holding other altcoins. This means that we have a long way to go before we can mainstream the use of cryptocurrency especially bitcoin into the society and when the time comes people are already to become their own bank. |
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136
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Bitcoin / Bitcoin Discussion / Re: WHAT WILL BE THE PRICE OF BITCOIN AND ETHEREUM BEFORE THE END OF APRIL
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on: May 14, 2018, 12:39:58 PM
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I have mentioned here that by the end of April 2018 that bitcoin will be having its value from 8k$ to 10k$ and I am glad it was true. Bitcoin was already at 9900% before it fell down to 8500$. But even so my opinion was still correct but I still hope that bitcoin could breach the 10k$ value before the end of May 2018. So let us just hold our bitcoins and stay tune to the price of bitcoin.
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137
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Other / Beginners & Help / Re: What is the best hardware wallet
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on: May 14, 2018, 12:36:32 PM
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Hi All
Keeping in mind the growing security issue of safekeeping our cryptos, just wondering which is the best hardware wallet out there? Thanks in advance for expert suggestion / user's experience.
I have been asking my friends that question when we are doing a group chat and they told me that they would recommend me these hardware wallets. 1.Ledger Nano S 2. Ledger Blue 3. Trezor They told me that these hardware wallets are excellent and they are using it for a year now. But among them the most popular among bitcoin holders is Ledger Nano S. I dont know the reason why but it sure is famous. |
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138
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Bitcoin / Bitcoin Discussion / Re: Bitcoin to be used as world currency?
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on: May 14, 2018, 12:25:19 PM
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I do agree that bitcoin cannot replace the fiat currency. The government will not allow any currency that they cannot control to replace their own national currency except if there is economic collapse. But if you notice countries are now making their own cryptocurrency such as Sweden, they are the first country that have launched the first ever government owned cryptocurrency. Soon other countries will follow their footsteps and eventually will be used by people. But even though bitcoin will not replace traditional money but it will be still used worldwide.
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139
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Bitcoin / Bitcoin Discussion / Re: Pakistanis Find Alternative Ways to Trade Bitcoin Citing Ban on Crypto
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on: May 14, 2018, 12:15:30 PM
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To me it seems that the author has choosen to totally neglect the last two weeks:  It was one freak week and then two weeks with the same low volume. Besides, we're talking about 70 BTC a week for a country of 200 millions.... The author is not neglecting the last two weeks but even though the volume of trade in Pakistan is going good the huge dump of bitcoin will still overcome those volume trade coming from Pakistan. The author did not also mentioned about people are buying bitcoins and so if they are not buying and they are just holding the value of bitcoin will not go up and thus the drop in value was caused by a big whale. |
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140
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Bitcoin / Bitcoin Discussion / Re: Easy way to protect your computer from Bitcoin copy past virus!
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on: May 14, 2018, 12:05:52 PM
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There are many people who have been a victim of this copy paste virus. When you copy a certain bitcoin address and place it on the sending are the virus will replace the address with the hackers bitcoin address. Though there are many anti-virus such as bit defender but the best way to overcome this is to always double check the btc address .
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