Bitcoin: un sistema de dinero en efectivo electrónico peer

The creation date of the "Bitcoin: A Peer-to-Peer Electronic Cash System" paper was created was today, back in 2009.

Opening the https://bitcoin.org/bitcoin.pdf paper, the creation date, per the pdf properties is 3/24/09 10:33:15AM. That means that the paper is 6 years old. We have come so far in such a short period of time.
submitted by redredditor to Bitcoin [link] [comments]

where did Bitcoin come from

Var kom Bitcoin ifrån?

Trots att den bara är fem år gammal har den redan en unik historia. Idén till Bitcoin kom från en utvecklare vid namn Satoshi Nakamoto. Det var namnet på originalpapperet som beskrev de tekniska aspekterna av det nya projektet – men det var en pseudonym. Den verkliga identiteten av Satoshi Nakamoto är fortfarande okänd. Originaluppsatsen skrevs i oktober 2008. Det nio-sidiga uppsatsen berör en kort var och en av de viktigaste aspekterna av systemet som Satoshi föreställde sig, liksom att namnge detta nya ”Peer-to-Peer Electronic Cash System” med moniker att det använder idag: Bitcoin.
Efter att tidningen publicerades skapade Satoshi det första programvaran som började gruvdrift (processen för att skapa Bitcoin). I januari 2009 bryts Satoshi ut den första uppsättningen Bitcoin, med namnet Genesis-blocket. Strax efter tillkännagav han projektet till en grupp krypteringsexperter, av vilka många var en del av “cypherpunk” -rörelsen. Satoshi utvecklade många av idéerna från Bitcoin från tidigare cypherpunk-verk. Inledningsvis närmade sig denna grupp datorexperter Bitcoin som en intressant hobby,
Diskuterar hur systemet kanske fungerar eller inte, och hur regeringar kan reagera på det. Det var först i början av 2010 som Bitcoin användes för verkliga transaktioner.
Vid denna tidpunkt hade en större gemenskap av utvecklare granskat koden – tillsammans med Satoshi – och släppt version 0.2, vilket förbättrar klienten. Den första Bitcoin-transaktionen för ett fysiskt förmån inträffade den 21 maj 2010, då en Bitcoin-användare med namnet Laszlo köpte en pizza värd $ 25 – för 10 000 Bitcoins! Denna transaktion skapade det berömda “Bitcoin Pizza Index”, som kontinuerligt uppdaterar priset för den första pizzaen (från och med skrivandet av denna bok, värd över 1,2 miljoner dollar). Bitcoin-samhället växte långsamt över 2010.
Mt. Gox, det största Bitcoin-utbytet, grundades och underlättade att köpa och sälja Bitcoin. Priset nådde så småningom paritet med den amerikanska dollarn i februari 2011 och började därefter snabbt stiga. Denna snabba uppgång var främst ett resultat av ökad medieuppmärksamhet. Flera nya webbplatser började täcka Bitcoin, och genomsnittliga internetanvändare började köpa dem.
submitted by ibrooo777 to BTCSV [link] [comments]

Latest Bitcoin price and analysis (BTC to USD)

Bitcoin is lining up a third major attempt at breaking out above $10,000 ahead of the expiry of the CME’s Bitcoin futures contract.
The expiry of the contract will see 50% of open interest also expire, which is expected to cause volatile swings in the price of Bitcoin at the start of next week.
During the first week of May the CME reported that open interest for its Bitcoin contract had hit an all-time high after it recovered from the gruelling sell-off in March.
At the time of writing Bitcoin is trading at $9,400 after falling slightly from this morning’s high at $9,623.
Moving forwards if Bitcoin can continue to trade above $8,830 and $9,200 in the short term it will continue to assert a bullish bias, while a break below these levels of support could cause a sell-off to as low as $7,100, which was the yearly open.
High frequency traders, however, will be targeting a move to the upside over the coming weeks with the $10,000 level proving to be a bitter point of resistance.
Breaking above a psychological level like $10,000 would indicate a change in behaviour from traders, with bullish price sentiment slowly returning after the recent halving event, which in truth turned out to be anticlimactic.
As seen during the bullish phase in the market last year there are still a number of key levels of resistance above $10,000, notably $10,500 and $12,300, although what’s most important is that Bitcoin prints a lower high for the first time in 12 months.

Bitcoin pricing

Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents:
US Dollar – BTCtoUSD
British Pound Sterling – BTCtoGBP
Japanese Yen – BTCtoJPY
Euro – BTCtoEUR
Australian Dollar – BTCtoAUD
Russian Rouble – BTCtoRUB

About Bitcoin

In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.
The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins.
submitted by PresentType to bitcointheindsmixer [link] [comments]

White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum

White Paper, Miner, Pizza … |
https://preview.redd.it/giu1ssilga151.jpg?width=900&format=pjpg&auto=webp&s=41510785ccdc0d99544ec74229f62427d1c0ce3e
Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc.
There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”.
The First Digital Currency White Paper — Bitcoin White Paper
On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then.
A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin.
In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market.
The First Public Bitcoin-Physical Transaction — Pizza
Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value.
Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin.


This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza?
The First Digital Asset Exchange — Bitcoinmarket.com
After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk.
In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0.


On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend.
The First Generation of High-Performance Miner — ASIC Miner
When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts.
In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs.
At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”.


In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network.
At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history.
It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era.
The Birthplace of China’s Bitcoin — Garage Coffee
It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to.
Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry.

▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview.
Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways.
The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead.
Website: https://www.58ex.com/
Twitter: https://twitter.com/58_coin
Facebook: https://www.facebook.com/coin.58COIN
Telegram: https://t.me/official58
Medium: https://medium.com/@58coin_blog/
submitted by 58CoinExchange to u/58CoinExchange [link] [comments]

Bitcoin (BTC)A Peer-to-Peer Electronic Cash System.

Bitcoin (BTC)A Peer-to-Peer Electronic Cash System.
  • Bitcoin (BTC) is a peer-to-peer cryptocurrency that aims to function as a means of exchange that is independent of any central authority. BTC can be transferred electronically in a secure, verifiable, and immutable way.
  • Launched in 2009, BTC is the first virtual currency to solve the double-spending issue by timestamping transactions before broadcasting them to all of the nodes in the Bitcoin network. The Bitcoin Protocol offered a solution to the Byzantine Generals’ Problem with a blockchain network structure, a notion first created by Stuart Haber and W. Scott Stornetta in 1991.
  • Bitcoin’s whitepaper was published pseudonymously in 2008 by an individual, or a group, with the pseudonym “Satoshi Nakamoto”, whose underlying identity has still not been verified.
  • The Bitcoin protocol uses an SHA-256d-based Proof-of-Work (PoW) algorithm to reach network consensus. Its network has a target block time of 10 minutes and a maximum supply of 21 million tokens, with a decaying token emission rate. To prevent fluctuation of the block time, the network’s block difficulty is re-adjusted through an algorithm based on the past 2016 block times.
  • With a block size limit capped at 1 megabyte, the Bitcoin Protocol has supported both the Lightning Network, a second-layer infrastructure for payment channels, and Segregated Witness, a soft-fork to increase the number of transactions on a block, as solutions to network scalability.

https://preview.redd.it/s2gmpmeze3151.png?width=256&format=png&auto=webp&s=9759910dd3c4a15b83f55b827d1899fb2fdd3de1

1. What is Bitcoin (BTC)?

  • Bitcoin is a peer-to-peer cryptocurrency that aims to function as a means of exchange and is independent of any central authority. Bitcoins are transferred electronically in a secure, verifiable, and immutable way.
  • Network validators, whom are often referred to as miners, participate in the SHA-256d-based Proof-of-Work consensus mechanism to determine the next global state of the blockchain.
  • The Bitcoin protocol has a target block time of 10 minutes, and a maximum supply of 21 million tokens. The only way new bitcoins can be produced is when a block producer generates a new valid block.
  • The protocol has a token emission rate that halves every 210,000 blocks, or approximately every 4 years.
  • Unlike public blockchain infrastructures supporting the development of decentralized applications (Ethereum), the Bitcoin protocol is primarily used only for payments, and has only very limited support for smart contract-like functionalities (Bitcoin “Script” is mostly used to create certain conditions before bitcoins are used to be spent).

2. Bitcoin’s core features

For a more beginner’s introduction to Bitcoin, please visit Binance Academy’s guide to Bitcoin.

Unspent Transaction Output (UTXO) model

A UTXO transaction works like cash payment between two parties: Alice gives money to Bob and receives change (i.e., unspent amount). In comparison, blockchains like Ethereum rely on the account model.
https://preview.redd.it/t1j6anf8f3151.png?width=1601&format=png&auto=webp&s=33bd141d8f2136a6f32739c8cdc7aae2e04cbc47

Nakamoto consensus

In the Bitcoin network, anyone can join the network and become a bookkeeping service provider i.e., a validator. All validators are allowed in the race to become the block producer for the next block, yet only the first to complete a computationally heavy task will win. This feature is called Proof of Work (PoW).
The probability of any single validator to finish the task first is equal to the percentage of the total network computation power, or hash power, the validator has. For instance, a validator with 5% of the total network computation power will have a 5% chance of completing the task first, and therefore becoming the next block producer.
Since anyone can join the race, competition is prone to increase. In the early days, Bitcoin mining was mostly done by personal computer CPUs.
As of today, Bitcoin validators, or miners, have opted for dedicated and more powerful devices such as machines based on Application-Specific Integrated Circuit (“ASIC”).
Proof of Work secures the network as block producers must have spent resources external to the network (i.e., money to pay electricity), and can provide proof to other participants that they did so.
With various miners competing for block rewards, it becomes difficult for one single malicious party to gain network majority (defined as more than 51% of the network’s hash power in the Nakamoto consensus mechanism). The ability to rearrange transactions via 51% attacks indicates another feature of the Nakamoto consensus: the finality of transactions is only probabilistic.
Once a block is produced, it is then propagated by the block producer to all other validators to check on the validity of all transactions in that block. The block producer will receive rewards in the network’s native currency (i.e., bitcoin) as all validators approve the block and update their ledgers.

The blockchain

Block production

The Bitcoin protocol utilizes the Merkle tree data structure in order to organize hashes of numerous individual transactions into each block. This concept is named after Ralph Merkle, who patented it in 1979.
With the use of a Merkle tree, though each block might contain thousands of transactions, it will have the ability to combine all of their hashes and condense them into one, allowing efficient and secure verification of this group of transactions. This single hash called is a Merkle root, which is stored in the Block Header of a block. The Block Header also stores other meta information of a block, such as a hash of the previous Block Header, which enables blocks to be associated in a chain-like structure (hence the name “blockchain”).
An illustration of block production in the Bitcoin Protocol is demonstrated below.

https://preview.redd.it/m6texxicf3151.png?width=1591&format=png&auto=webp&s=f4253304912ed8370948b9c524e08fef28f1c78d

Block time and mining difficulty

Block time is the period required to create the next block in a network. As mentioned above, the node who solves the computationally intensive task will be allowed to produce the next block. Therefore, block time is directly correlated to the amount of time it takes for a node to find a solution to the task. The Bitcoin protocol sets a target block time of 10 minutes, and attempts to achieve this by introducing a variable named mining difficulty.
Mining difficulty refers to how difficult it is for the node to solve the computationally intensive task. If the network sets a high difficulty for the task, while miners have low computational power, which is often referred to as “hashrate”, it would statistically take longer for the nodes to get an answer for the task. If the difficulty is low, but miners have rather strong computational power, statistically, some nodes will be able to solve the task quickly.
Therefore, the 10 minute target block time is achieved by constantly and automatically adjusting the mining difficulty according to how much computational power there is amongst the nodes. The average block time of the network is evaluated after a certain number of blocks, and if it is greater than the expected block time, the difficulty level will decrease; if it is less than the expected block time, the difficulty level will increase.

What are orphan blocks?

In a PoW blockchain network, if the block time is too low, it would increase the likelihood of nodes producingorphan blocks, for which they would receive no reward. Orphan blocks are produced by nodes who solved the task but did not broadcast their results to the whole network the quickest due to network latency.
It takes time for a message to travel through a network, and it is entirely possible for 2 nodes to complete the task and start to broadcast their results to the network at roughly the same time, while one’s messages are received by all other nodes earlier as the node has low latency.
Imagine there is a network latency of 1 minute and a target block time of 2 minutes. A node could solve the task in around 1 minute but his message would take 1 minute to reach the rest of the nodes that are still working on the solution. While his message travels through the network, all the work done by all other nodes during that 1 minute, even if these nodes also complete the task, would go to waste. In this case, 50% of the computational power contributed to the network is wasted.
The percentage of wasted computational power would proportionally decrease if the mining difficulty were higher, as it would statistically take longer for miners to complete the task. In other words, if the mining difficulty, and therefore targeted block time is low, miners with powerful and often centralized mining facilities would get a higher chance of becoming the block producer, while the participation of weaker miners would become in vain. This introduces possible centralization and weakens the overall security of the network.
However, given a limited amount of transactions that can be stored in a block, making the block time too longwould decrease the number of transactions the network can process per second, negatively affecting network scalability.

3. Bitcoin’s additional features

Segregated Witness (SegWit)

Segregated Witness, often abbreviated as SegWit, is a protocol upgrade proposal that went live in August 2017.
SegWit separates witness signatures from transaction-related data. Witness signatures in legacy Bitcoin blocks often take more than 50% of the block size. By removing witness signatures from the transaction block, this protocol upgrade effectively increases the number of transactions that can be stored in a single block, enabling the network to handle more transactions per second. As a result, SegWit increases the scalability of Nakamoto consensus-based blockchain networks like Bitcoin and Litecoin.
SegWit also makes transactions cheaper. Since transaction fees are derived from how much data is being processed by the block producer, the more transactions that can be stored in a 1MB block, the cheaper individual transactions become.
https://preview.redd.it/depya70mf3151.png?width=1601&format=png&auto=webp&s=a6499aa2131fbf347f8ffd812930b2f7d66be48e
The legacy Bitcoin block has a block size limit of 1 megabyte, and any change on the block size would require a network hard-fork. On August 1st 2017, the first hard-fork occurred, leading to the creation of Bitcoin Cash (“BCH”), which introduced an 8 megabyte block size limit.
Conversely, Segregated Witness was a soft-fork: it never changed the transaction block size limit of the network. Instead, it added an extended block with an upper limit of 3 megabytes, which contains solely witness signatures, to the 1 megabyte block that contains only transaction data. This new block type can be processed even by nodes that have not completed the SegWit protocol upgrade.
Furthermore, the separation of witness signatures from transaction data solves the malleability issue with the original Bitcoin protocol. Without Segregated Witness, these signatures could be altered before the block is validated by miners. Indeed, alterations can be done in such a way that if the system does a mathematical check, the signature would still be valid. However, since the values in the signature are changed, the two signatures would create vastly different hash values.
For instance, if a witness signature states “6,” it has a mathematical value of 6, and would create a hash value of 12345. However, if the witness signature were changed to “06”, it would maintain a mathematical value of 6 while creating a (faulty) hash value of 67890.
Since the mathematical values are the same, the altered signature remains a valid signature. This would create a bookkeeping issue, as transactions in Nakamoto consensus-based blockchain networks are documented with these hash values, or transaction IDs. Effectively, one can alter a transaction ID to a new one, and the new ID can still be valid.
This can create many issues, as illustrated in the below example:
  1. Alice sends Bob 1 BTC, and Bob sends Merchant Carol this 1 BTC for some goods.
  2. Bob sends Carols this 1 BTC, while the transaction from Alice to Bob is not yet validated. Carol sees this incoming transaction of 1 BTC to him, and immediately ships goods to B.
  3. At the moment, the transaction from Alice to Bob is still not confirmed by the network, and Bob can change the witness signature, therefore changing this transaction ID from 12345 to 67890.
  4. Now Carol will not receive his 1 BTC, as the network looks for transaction 12345 to ensure that Bob’s wallet balance is valid.
  5. As this particular transaction ID changed from 12345 to 67890, the transaction from Bob to Carol will fail, and Bob will get his goods while still holding his BTC.
With the Segregated Witness upgrade, such instances can not happen again. This is because the witness signatures are moved outside of the transaction block into an extended block, and altering the witness signature won’t affect the transaction ID.
Since the transaction malleability issue is fixed, Segregated Witness also enables the proper functioning of second-layer scalability solutions on the Bitcoin protocol, such as the Lightning Network.

Lightning Network

Lightning Network is a second-layer micropayment solution for scalability.
Specifically, Lightning Network aims to enable near-instant and low-cost payments between merchants and customers that wish to use bitcoins.
Lightning Network was conceptualized in a whitepaper by Joseph Poon and Thaddeus Dryja in 2015. Since then, it has been implemented by multiple companies. The most prominent of them include Blockstream, Lightning Labs, and ACINQ.
A list of curated resources relevant to Lightning Network can be found here.
In the Lightning Network, if a customer wishes to transact with a merchant, both of them need to open a payment channel, which operates off the Bitcoin blockchain (i.e., off-chain vs. on-chain). None of the transaction details from this payment channel are recorded on the blockchain, and only when the channel is closed will the end result of both party’s wallet balances be updated to the blockchain. The blockchain only serves as a settlement layer for Lightning transactions.
Since all transactions done via the payment channel are conducted independently of the Nakamoto consensus, both parties involved in transactions do not need to wait for network confirmation on transactions. Instead, transacting parties would pay transaction fees to Bitcoin miners only when they decide to close the channel.
https://preview.redd.it/cy56icarf3151.png?width=1601&format=png&auto=webp&s=b239a63c6a87ec6cc1b18ce2cbd0355f8831c3a8
One limitation to the Lightning Network is that it requires a person to be online to receive transactions attributing towards him. Another limitation in user experience could be that one needs to lock up some funds every time he wishes to open a payment channel, and is only able to use that fund within the channel.
However, this does not mean he needs to create new channels every time he wishes to transact with a different person on the Lightning Network. If Alice wants to send money to Carol, but they do not have a payment channel open, they can ask Bob, who has payment channels open to both Alice and Carol, to help make that transaction. Alice will be able to send funds to Bob, and Bob to Carol. Hence, the number of “payment hubs” (i.e., Bob in the previous example) correlates with both the convenience and the usability of the Lightning Network for real-world applications.

Schnorr Signature upgrade proposal

Elliptic Curve Digital Signature Algorithm (“ECDSA”) signatures are used to sign transactions on the Bitcoin blockchain.
https://preview.redd.it/hjeqe4l7g3151.png?width=1601&format=png&auto=webp&s=8014fb08fe62ac4d91645499bc0c7e1c04c5d7c4
However, many developers now advocate for replacing ECDSA with Schnorr Signature. Once Schnorr Signatures are implemented, multiple parties can collaborate in producing a signature that is valid for the sum of their public keys.
This would primarily be beneficial for network scalability. When multiple addresses were to conduct transactions to a single address, each transaction would require their own signature. With Schnorr Signature, all these signatures would be combined into one. As a result, the network would be able to store more transactions in a single block.
https://preview.redd.it/axg3wayag3151.png?width=1601&format=png&auto=webp&s=93d958fa6b0e623caa82ca71fe457b4daa88c71e
The reduced size in signatures implies a reduced cost on transaction fees. The group of senders can split the transaction fees for that one group signature, instead of paying for one personal signature individually.
Schnorr Signature also improves network privacy and token fungibility. A third-party observer will not be able to detect if a user is sending a multi-signature transaction, since the signature will be in the same format as a single-signature transaction.

4. Economics and supply distribution

The Bitcoin protocol utilizes the Nakamoto consensus, and nodes validate blocks via Proof-of-Work mining. The bitcoin token was not pre-mined, and has a maximum supply of 21 million. The initial reward for a block was 50 BTC per block. Block mining rewards halve every 210,000 blocks. Since the average time for block production on the blockchain is 10 minutes, it implies that the block reward halving events will approximately take place every 4 years.
As of May 12th 2020, the block mining rewards are 6.25 BTC per block. Transaction fees also represent a minor revenue stream for miners.
submitted by D-platform to u/D-platform [link] [comments]

Seeking group effort on more opinions and insights

- Generational member of ruling bloodline family states on September 10 , 2008 " I am prepared to give you some things coming down the timeline, that you will be able to look back upon, and verify my predictions retrospectively. The stock markets will soon complete there controlled demolition. After an initial "appearance" that the "bail outs" and "rescue packages' have steadied the ship, there will be new record lows by the end of the month. Our financial institutions will later call in all loans. There will be many bankruptcies and foreclosures. ------There will be a new currency by the end of 2008 / early 2009 ( he or she is talking about bitcoin)
- Great recession of 20th century started in December 2007 and ended/ declared a global depression in June 2009.
- " The domain name "bitcoin.org" was registered on 18 August 2008.[21] On 31 October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System[4] was posted to a cryptography mailing list.[22] Nakamoto implemented the bitcoin software as open-source code and released it in January 2009.[23][24][16] Nakamoto's identity remains unknown
- The WHO declares global pandemic (H1N1) July 1st 2009
- Bitcoin block halving reward countdown 44 days from now (April 13 or 14) 2020
- Covid 19 seems to be the cover up for this for another looming recession thats been happening up until the boiling point
Im not that well versed on natural law so I am going to ask questions now in hopes of jumping over the impediment of my free will/ sovereignty so here it goes. What is going to happen 40 plus days from now that will effect the world? What is the plan behind the scheduling of bitcoin, virus plot, recession etc ? What are all of the laws that you follow as to not accumulate karmic debit?
https://preview.redd.it/mway6k7qlup41.jpg?width=1136&format=pjpg&auto=webp&s=d1a8f3d84b8caaf5c0b64ca6134d64e8119be4f4
https://preview.redd.it/4lhsie4tlup41.jpg?width=1136&format=pjpg&auto=webp&s=f9cfba3567b96e3992b6d4c9162ccfad89d54370
submitted by shayeyetuh to conspiracy [link] [comments]

Seeing a pattern hear

- Generational member of ruling bloodline family states on September 10 , 2008 " I am prepared to give you some things coming down the timeline, that you will be able to look back upon, and verify my predictions retrospectively. The stock markets will soon complete there controlled demolition. After an initial "appearance" that the "bail outs" and "rescue packages' have steadied the ship, there will be new record lows by the end of the month. Our financial institutions will later call in all loans. There will be many bankruptcies and foreclosures. ------There will be a new currency by the end of 2008 / early 2009 ( he or she is talking about bitcoin)
- Great recession of 20th century started in December 2007 and ended/ declared a global depression in June 2009.
- " The domain name "bitcoin.org" was registered on 18 August 2008.[21] On 31 October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System[4] was posted to a cryptography mailing list.[22] Nakamoto implemented the bitcoin software as open-source code and released it in January 2009.[23][24][16] Nakamoto's identity remains unknown
- The WHO declares global pandemic (H1N1) July 1st 2009
- Bitcoin block halving reward countdown 44 days from now (April 13 or 14) 2020
- Covid 19 seems to be the cover up for this for another looming recession thats been happening up until the boiling point
Im not that well versed on natural law so I am going to ask questions now in hopes of jumping over the impediment of my free will/ sovereignty so here it goes. What is going to happen 40 plus days from now that will effect the world? What is the plan behind the scheduling of bitcoin, virus plot, recession etc ? What are all of the laws that you follow as to not accumulate karmic debit?
https://preview.redd.it/mway6k7qlup41.jpg?width=1136&format=pjpg&auto=webp&s=d1a8f3d84b8caaf5c0b64ca6134d64e8119be4f4
https://preview.redd.it/4lhsie4tlup41.jpg?width=1136&format=pjpg&auto=webp&s=f9cfba3567b96e3992b6d4c9162ccfad89d54370
submitted by shayeyetuh to Bitcoin [link] [comments]

Blockchain triggers a new technological revolution, ETX public chain is born, and both opportunities and challenges exist.

Blockchain triggers a new technological revolution, ETX public chain is born, and both opportunities and challenges exist.
Blockchain technology is the core technology that has the most potential to trigger the fifth round of disruptive revolution after steam engine, power, information and Internet technology. . The concept of digital currency Bitcoin (Bitcoin) was originally proposed by Satoshi Nakamoto in 2009. It is an electronic cash system implemented through peer-to-peer technology. The core of Bitcoin is reflected in the underlying blockchain technology. The blockchain can establish decentralized trust from the technical level, which has a disruptive impact on the institutional basis of the existing financial system and the relationship between participants. With the gradual recognition of Bitcoin and the exploration and practice of global geeks, the digital currency industry is booming.

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When blockchain technology opportunities and challenges coexist, ETX (EthereumX · NET) came into being. ETX (EthereumX · NET) is a blockchain smart contract consensus network graphics card mining public chain for certified entity identities; it adopts a brand-new blockchain architecture and is positioned as an easy-to-use high-performance blockchain platform. The performance of distributed applications is expanded to meet the real business needs of the real world.
ETX (EthereumX · NET) quickly establishes a decentralized authentication entity and application for different identities based on a complete user privacy protection and identity authentication mechanism, based on low-cost and efficient PoW + DPoS consensus algorithm, and customized smart contracts , An intelligent ecological network for resource sharing and self-development. Relying on graphics cards, digital assets as a means of circulation, and ultimately, a benign circular economy model that returns to the real world and promotes the development of the real economy through scene applications.

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Among them, digital currency, as a big product of blockchain, was questioned by many people at the beginning of its birth, because in this part of people's eyes, digital currency itself has no value, and digital currency is not a real economy. In fact, the virtual real meaning of digital currency refers to the network. The remoteness of the network used to be an incredible thing in the past, so it makes people feel amazing in speed. The digital currency uses the network's efficiency and speed to transmit ETX (EthereumX · NET), Bitcoin and other currencies, so it is given the title of virtual currency.
The ETX public chain provides stable and efficient infrastructure, standardized and modular application plug-ins, full-process technology and model consulting, etc., enabling the team to develop applications and DApps based on the ETX ecological network, including: multi-currency decentralized wallets, decentralized Exchanges, decentralized peer-to-peer trading systems, etc. ETX (including pre-sales, consumer terminals, trading platforms, etc.) obtained by users from any channel can be freely traded in the ETX ecosystem, and seamlessly connect with other digital assets to achieve free payment and circulation.
The arrival of decentralization will make another change in the way people trade in the future. This will be a revolution and a huge opportunity. When the huge waves swept in, if we stayed in place or moved like a snail, we would be greeted with only broken bones. The market changes rapidly, and only by seizing the opportunity and acting swiftly can we have smooth winds and sunshine.

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The blockchain triggers a new technological revolution, the ETX public chain is born, opportunities and challenges coexist, and everything is possible in the future. (There are risks in the market, investment needs to be cautious, please do as your capability permits.)
submitted by BitRay2077 to u/BitRay2077 [link] [comments]

Can Cryptocurrencies Truly Be Our Saviour when Economies are Crashing?

Can Cryptocurrencies Truly Be Our Saviour when Economies are Crashing?

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Cryptocurrencies & blockchain, the technology upon which cryptocurrency runs has been touted as truly revolutionary. After the first cryptocurrency went live in 2009, it sparked a light in dim time.
Necessitating an escape from the financial world controlled by the fraudulent and manipulative government and corporations. Bitcoin was seen as the saviour to the dying fiat currencies which has continually robbed people of their wealth through inflationary pressures aggravated by reckless government funds mismanagement.
As a tool for radical and transformative change, Bitcoin has grown from insignificance into global relevance today. But what is its position as of today?

The Idea & Industry

The cryptocurrency industry has grown considerably over the years. From a single cryptocurrency to thousands of crypto tokens or coins, each doing something of its own, although others bear similarities in their designs and functions.
The idea behind bitcoin and cryptocurrency generally was a rebellious idea. An idea that stems from the disgust of the maladministration of the fiat currency. This distrust resulted in the writing of the bitcoin white paper with its significant title “A Peer-to-Peer Electronic Cash System”.
An alternative financial system that doesn’t require the trust of a third party to enable the flow of economic events. Such a revolutionary idea. An idea which has turned into a global multibillion-dollar industry and growing still, at an impressive rate.

Alternative Tender

Crypto enthusiasts have always wanted to use their crypto to purchase daily goods, pay bills and do just about what the naira, dollar, euro, pounds, etc do. As much as they want to acquire that “Lambo”, they also would love to use their bitcoin to purchase their coffee, ice cream, etc.
Over the years with several firms developing great solutions, users are now able to purchase items using crypto but then, there exists a fundamental problem. Are they paying in crypto or fiat? This is a contestable argument.
If I send my bitcoin directly to the seller in exchange for a plate of tasty Nigerian jollof rice, am I paying with bitcoin or naira? For most, it’s understandable they are paying with bitcoin. But then, I am paying in naira. Reason being that the jollof rice is priced in Naira NGN. The difference here is WITH and IN. A matter of semantics.

Crypto Volatility

For most people who do not see cryptocurrency gaining global adoption as an effective means of economic exchange, their reason mostly stems from the volatile nature of this new asset class. The fear of receiving payment of 4500NGN for goods sold at 5000NGN in BTC has been a significant argument against why cryptocurrency will be used for economic exchange.
Although newer products have emerged that seek to remedy this issue by providing instant clearing for crypto transactions, crypto ‘faithfuls’ still hold on to the belief that volatility is a feature, not a bug.

Stablecoins

Stablecoins now provide a safe way of protecting oneself against volatility. Stablecoin facilitates crypto security as well as the non-volatile nature which fiat of sound economies carries. This presents stablecoins as a valid alternative to national fiat currencies. Currently, there are lots of activities ongoing for nations in a bid to develop their own Central Bank Digital Currency – CDBC.
In times of great national distress, the value of fiat currencies is normally shaken. This is normal and is why nations try as much as possible to prevent events that may destabilize their nations due to the correlative effects to their national currencies.

COVID-19

The current pandemic sweeping across the nations of the world is a true definition of distress. For Nigeria as a country with the majority of its revenue tied to crude oil, it faces serious economic challenges which have resulted in a reduction in the value of the naira.
The Central Bank of Nigeria a few weeks back via a circular, announced that the present fundamentals do not support the devaluation of the naira, however, there have been reports of commercial banks charging users above N400 per dollar.
While the purpose of this article is not to examine the naira and the several elements affecting it, this premise was necessary since it’s a fiat currency.
This begs the question “can cryptocurrency truly be our savior when economies are crashing?”
Nigeria is not the only nation currently affected by the Coronavirus pandemic. In fact, Nigeria is one of the countries with fewer cases though, this isn’t the only reason for the current position of the naira. Cryptocurrencies like bitcoin are notably volatile and in times of national or global crisis, people would argue they can’t hold value.
The next alternatives are usually Stablecoins, an innovation that is not even up to seven years since the very first stablecoin was introduced. But then this comes with a problem of its own. Since Stablecoins are pegged to their fiat currency counterparts, as the fiat currency of a nation goes down, the same goes for the stablecoin.
While it is understandable that not all nations will go to dust at the same time, people may move from one country’s fiat currency pegged stablecoin to another and this will just be an organized and consented pump.
The problem remains that cryptocurrency may not be the savior when the economies are crashing. The only way this can be is when the goods are priced in a standard unit of a coin, perhaps BTC.
Written By: Ben
Edited By: Mosun
Graphics By: Jacobite
submitted by Telos4africa to u/Telos4africa [link] [comments]

Seeking group effort on opinions and insights

Seeking group effort on opinions and insights
- Generational member of ruling bloodline family states on September 10 , 2008 " I am prepared to give you some things coming down the timeline, that you will be able to look back upon, and verify my predictions retrospectively. The stock markets will soon complete there controlled demolition. After an initial "appearance" that the "bail outs" and "rescue packages' have steadied the ship, there will be new record lows by the end of the month. Our financial institutions will later call in all loans. There will be many bankruptcies and foreclosures. ------There will be a new currency by the end of 2008 / early 2009 ( he or she is talking about bitcoin)
- Great recession of 20th century started in December 2007 and ended/ declared a global depression in June 2009.
- " The domain name "bitcoin.org" was registered on 18 August 2008.[21] On 31 October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System[4] was posted to a cryptography mailing list.[22] Nakamoto implemented the bitcoin software as open-source code and released it in January 2009.[23][24][16] Nakamoto's identity remains unknown
- The WHO declares global pandemic (H1N1) July 1st 2009
- Bitcoin block halving reward countdown 44 days from now (April 13 or 14) 2020
- Covid 19 seems to be the cover up for this for another looming recession thats been happening up until the boiling point
Im not that well versed on natural law so I am going to ask questions now in hopes of jumping over the impediment of my free will/ sovereignty so here it goes. What is going to happen 40 plus days from now that will effect the world? What is the plan behind the scheduling of bitcoin, virus plot, recession etc ? What are all of the laws that you follow as to not accumulate karmic debit?
https://preview.redd.it/mway6k7qlup41.jpg?width=1136&format=pjpg&auto=webp&s=d1a8f3d84b8caaf5c0b64ca6134d64e8119be4f4
https://preview.redd.it/4lhsie4tlup41.jpg?width=1136&format=pjpg&auto=webp&s=f9cfba3567b96e3992b6d4c9162ccfad89d54370
submitted by shayeyetuh to conspiracyNOPOL [link] [comments]

Introduction to Cryptocurrency: BTC, the King of All Tokens

Introduction to Cryptocurrency: BTC, the King of All Tokens
Written by the CoinEx Institution, this series of jocular and easy to understand articles will show you everything you need to know about major cryptocurrencies, making you fully prepared before jumping into crypto!
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If you are not in the cryptocurrency field, “BTC” may be a stranger to you, but not the Bitcoin. BTC is the abbreviation for Bitcoin. In addition, it has another name: XBT.
Speaking of BTC, we have to mention one name, Satoshi Nakamoto, father of BTC. His story started from 2008 when a financial crisis broke out across the world, which laid a foundation for the birth of BTC.
On November 1 that year, a person claiming to be Satoshi Nakamoto published the BTC White Paper titled “BTC: A Peer-to-Peer Electronic Cash System” on a P2P foundation website, marking the birth of BTC. Two months later, on January 3, 2009, the BTC genesis block was created. BTC got rid of the constraints of third-party institutions by distributed ledgers, which Nakamoto called the “blockchain.” If users are prepared to dedicate their CPU hashrate to run a special software, they can become a “miner”. While mining new BTC, the miners also set up a network to maintain the blockchain together.
At the time, BTC was considered as a virtual commodity, not a currency, by some countries, banks and government agencies. It wasn’t until one day a man bought two pizzas for the 10,000 BTC he had mined that BTC had its value (What a losing business).
After that, there are ups and downs of the BTC market, but the identity of Nakamoto, has always remained a mystery. Some say he’s from the National Security Agency, and some say he’s a financial expert. But still, he is nowhere to find, and nobody knows anything about him.
The wonderful part of BTC lies in the fact that it is something anyone can mine! But if you think you can mine as many BTC as you want, think twice. To avoid inflation, the upper limit for the number of BTC was set at 21 million. Without relying on the central authority, BTC is issued by the blockchain. Assets and transactions are secured by the digital encryption algorithms and the entire network to resist 51% hashrate attacks. Transaction records are collected and maintained by all computers on the network, and the validity of each transaction must be confirmed by blockchain inspection.
People say, having been widely recognized and used, the BTC technology presents all mankind with an era of blockchain. As the king of cryptocurrency, what makes BTC so special?
1. Decentralization
BTC is the first distributed cryptocurrency. The entire network consists of users and there is no central bank. Decentralization guarantees the security and freedom of BTC.
2.Worldwide circulation
BTC can be managed on any computer connected to the Internet. No matter where you are, you can mine, buy, sell or receive it. That is exactly what makes it a magnet for a lot of miners and users.
3. Exclusive ownership
Controlling your BTC requires your private key, which can be isolated and stored on any storage medium, and no one can get it except yourself. That experience makes you feel so special and secured.
4.Low transaction fees and no hidden costs
The BTC network will charge a certain fee for each transaction to ensure faster transaction execution. In addition, as an A-to-B payment method, BTC does not have tedious procedures or limits, and users only need to provide a BTC address to make payment. How convenient!
5. Cross-platform mining
Bitcoin is definitely a passion for geeks! Miners can discover the hashrate of different hardware on many platforms. BTC mining can be both profitable and fun.
Today the circulating market value of BTC has reached 1.32 trillion, and the reward is halved about every 4 years. In May 2020 we will usher in the third halving of Bitcoin, with a block height of 630,000, and the reward will be directly reduced from 12.5 BTC to 6.25 BTC. By 2140, there will be no more new Bitcoin generated in the world, and the number of Bitcoin in circulation will not exceed 21 million.
If you want to enter the cryptocurrency field, you might as well start by buying BTC. It may present a new door to wealth in front of you, and the key to this door lies in CoinEx. Come on, learn more and trade! https://www.coinex.com/
submitted by CoinExcom to Coinex [link] [comments]

Brief History Of Bitcoin

Brief History Of Bitcoin
Well before Bitcoin and other cryptographic forms of money became computerized monetary standards, a thought showed up on one of the discussions. Before a coin pulled in the consideration of thousands and perhaps a great many speculators, common admirers of new items and the individuals who need to benefit from the following complimentary gift – known as "Satoshi Nakamoto" proposed one intriguing thought that was effectively actualized sooner rather than later.

In October 2008, an article was distributed by Satoshi Nakamoto: "A Peer-to-Peer Electronic Cash System" which implies: a decentralized or fair electronic money framework.

Satoshi turned into the dad of digital money or blockchain. There were various endeavors to make comparable structures, yet it was totally concentrated — like existing financial structures.

The principal form of Bitcoin code was discharged in January 2009. The principal hinder in the Bitcoin blockchain was made, which offered ascend to the first Bitcoin mining. This exchange was between Nakamoto himself and one of the engineers named Hal Finney.

At first, Bitcoin didn't have a conversion scale and proportionality in fiat money, yet in October 2009, one US dollar was equivalent to 1.309 Bitcoin. The conversion standard was equivalent to the expense of power to make the first Bitcoin through mining.

In 2010, the first Bitcoin trade was made. It was classified "dwdollar". Florida designer Laszlo Hanetz paid 10,000 bitcoins to somebody in England, who in return purchased Laszlo pizza which cost $25. It was the most costly pizza ever. At the hour of this composition, 10,000 bitcoins is equivalent to $130,000. For instance, in mid-December 2017, 10,000 bitcoins was equivalent to practically a large portion of a million dollars.

In August 2010, programmers found a powerless spot in the Bitcoin blockchain, which permitted them to produce 184 billion Bitcoins and the cost of Bitcoin dropped at that point.

The Bitcoin trade stage called "MtGox" was made that year and Bitcoin; finished 2010 with a market capitalization of simply over $ 1 million.

In 2011, a bootleg market was made under the name "Silk Road" in view of Bitcoin. The primary thought of ​​this venture was unknown exchanges. Unexpectedly, the cost of Bitcoin transcended $ 1. Simultaneously, Bitcoin picked up popularity as an underground market cash or an approach to buy drugs on the web.

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In 2012, a few organizations started to apply and acknowledge Bitcoin as a cash to pay for products and enterprises. Before the finish of 2013, the cost of one Bitcoin was somewhat more than $ 1,000.

In 2014, China, USA and UK started to make rules and limitations on the utilization and tax assessment from Bitcoin, which permitted the utilization of Bitcoin by money related organizations. Numerous organizations, including Microsoft, have started to acknowledge installments in Bitcoins.

In February of that year, the fundamental Bitcoin trade "MtGox", was along these lines hacked by DDOS assaults, losing a great many dollars and hurriedly shut. Notwithstanding this, the cost of Bitcoin, however dropped to $200, balanced out in the scope of $200 and 350.

During 2015, the cost of Bitcoin stayed stable and Bitcoin started to secure the characteristics of an authentic cash. Ross Ulbricht, the author of the Silk Road, was condemned to life detainment, motioning to the world that Bitcoin can't be utilized for criminal purposes without any potential repercussions.

Another hacking happened in 2016 on one of the cryptographic money wallet administrations, because of which around 72 million US dollars were lost.

At last, toward the finish of 2017, the cost of 1 coin went up to 20,000 US dollars, beginning in 2017 with a cost of $1,000. Directly after, because of the way that numerous nations have restricted the utilization of cryptographic forms of money, and the primary informal organizations like Facebook and others have prohibited the promoting of digital currencies for different reasons. Before the finish of 2018, the cost of Bitcoin went down to $3,000, which made mining practically unrewarding. The cost went up the following year. At the hour of this composition, the bitcoin cost is $5,300.
submitted by Bitcoinsinvestment13 to u/Bitcoinsinvestment13 [link] [comments]

Investment Decisions: Bitcoin or Other Cryptocurrencies?

Investment Decisions: Bitcoin or Other Cryptocurrencies?

Author: Christian Hsieh, CEO of Tokenomy
Many investors are facing the decision of whether to allocate some exposures to bitcoin or other cryptocurrencies. The purpose of this article is to clarify those differences and highlight the reasons why bitcoin has become an emerging asset class that can no longer be ignored.
Bitcoin is invented as a peer-to-peer electronic cash system without the need of going through a third party financial institution1. Since 2009, the Bitcoin network started the longest running blockchain that ensures high security and prevents double-spending. Since then, there are many other cryptocurrencies came out to address different solutions, such as offering faster transaction speed or shorter block processing time. Examples like Litecoin, Ethereum, Ripple are just a few representations of an ocean of similar cryptocurrencies that emerged out to claim their domains in the cyberspace. Below we are listing the top 8 cryptocurrencies and their features for comparison purposes.

SOURCES: https://www.ig.com/sg/cryptocurrency-trading/cryptocurrency-comparison
All cryptocurrencies – including Bitcoin, Ethereum, and others – share a few key characteristics:
  1. A transparent, auditable, and predictable supply schedule
  2. Censorship resistant – no one can prevent any holder from spending his crypto.
  3. Permission-less – a user does not need to ask for permission to begin using these systems. He just downloads software, generates private keys, and can start, no questions asked.
  4. Self-sovereign – a user owns bearer assets. He doesn’t need to rely on a trusted party, and therefore he can walk across borders carrying $1B in his head.
  5. Divisible — can be divided into small increments that can be used in exchange for goods of varying values
  6. Portable — meaning that it can be carried
  7. Fungible — meaning all units are essentially interchangeable3
However, the differences of these cryptocurrencies are mostly technical. It requires more observation time to determine what role each cryptocurrency is playing to justify the purpose of their existence. Currently Ethereum is experimenting the smart contract domain, Ripple is attempting to facilitate faster cross-border remittance settlement, and Litecoin or Bitcoin Cash is trying to improve the transaction speed to allow day-to-day payments using cryptocurrencies. These utilities are all essential to build a complete new ecosystem powered by blockchain, but it may take decades for multiple testing to eventually reach wide adoption. From an investment point of view, only bitcoin seems to justify the claim of a digital gold, or a decentralized store of value. After all, it possesses the largest networking effect, longest blockchain, most secured and decentralized network, and accepted by most merchants.

Return Profiles of Bitcoin

In the past 10 years, bitcoin has risen from almost nothing to over $9,700 today4 (at the time of publication). Although the volatility is extreme, it is slowly gaining adoption and attracting investors from a long term perspective.


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Who is buying bitcoin? In the Bitwise Investments January 2020 Investor Letter, it pointed out that Charles Schwab recently published a report on the largest equity holdings of clients in the retirement accounts, segmented by generations. It turns out that bitcoin, as expressed through the Grayscale Bitcoin Trust (GBTC) – is the fifth-largest holding in millennial retirement accounts.

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Bitcoin Is The Fifth-Most-Popular Equity Holding Among Millennials At Charles Schwab6
Millennials are defined as individuals who are 22-38 years old. In the next decade, they will age into the 32-48 range, putting the majority into their prime income-earning years (roughly age 35-60). By 2030, there will be more prime income-earning-age millennials than baby boomers or Gen Xers.
In a recent Coindesk Research report, it shows that Millennials have emerged as adopters and drivers of cryptocurrencies7, with one poll showing today’s 18-to-34-year-olds preferring bitcoin over more traditional investments.8 This survey results show a surprising awareness of, and openness to a higher-risk investment such as bitcoin.
Percentage of 18- to 34-year-olds who say they prefer bitcoin to…

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Portfolio Exposure with Crypto

As an emerging asset class itself, bitcoin is still making its case to become mainstream. Although the return profile has been very strong, the volatility and uncertainty is still worrisome for most traditional investors. What about just allocate a little exposure to this asset class? What does the return profile look like when you add some cryptocurrencies into your traditional portfolio?
In a research paper published by Bitwise Investments in May 2018, it found that by adding a small allocation to crypto assets in a traditional, diversified portfolio (60% equity / 40% bonds), the return profile can experience a significant change.

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To evaluate the role of bitcoin in a portfolio, the study looked at the impact of making a 5% allocation to bitcoin and holding that position for the duration. The bitcoin allocation was drawn on a pro-rata basis from the equity and bond positions, meaning the portfolio (which we will call the “HODL Portfolio”) started with a 57% allocation to stocks and a 38% allocation to bonds.

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The impact of this small bitcoin allocation was dramatic. Bitcoin’s strong performance during the study’s timeframe powered the portfolio higher, with total returns jumping from 26.53% to 67.70%. Of course, the volatility and maximum drawdown also increased at the same time, but as an illustration, a small percentage of bitcoin allocation can really impact the entire portfolio performance.

Conclusion

Bitcoin has emerged as a new asset class that can now be considered as an investment tool, although its use can also be justified as a digital store of value, a native internet of money, and a median of exchange. While other cryptocurrencies are still testing various use cases in the blockchain domain, it is overall beneficial to have some crypto exposures.
The return profile of bitcoin has proven to be strong in the past decade, and the millennials are accumulating the crypto assets in their long-term retirement accounts. In the next 10 years, this group will be the prime income-earning population.
Morgan Stanley recently posted a report suggesting that a weak environment for economic growth and inflation, paired with low bond yields, the returns from a traditional portfolio made up of 60% stocks and 40% bonds will deliver a 2.8% annual return over the next 10 years, the lowest level in nearly a century.10 Perhaps it is time to for investors to reconstruct the portfolio composition and add some bitcoin and other cryptocurrencies to boost up the overall returns.
Thank you, Tokenomy Team
submitted by Tokenomy to tokenomyofficial [link] [comments]

Who is Satoshi Nakamoto and where is he now?

Where does Satoshi Nakamoto come from?

Any person that has been doing some research on cryptocurrencies, especially Bitcoin, probably has heard of this name before. Satoshi Nakamoto. Who is this mysterious man and why does no one know who he is? This goes back to October 2008, when an unknown user by the name of Nakamoto sent out the whitepaper for Bitcoin, a peer-to-peer Electronic Cash System to a cryptographic newsletter. After the announcement had been done and the manifesto describing the revolution Nakamoto was aiming to start, in January the software was released. He was the person to mine the Genesis block encrypted with the headline of the New York Times of that day. Nakamoto has stopped using his Bitcoin since mid-January 2009, with nowadays having Bitcoin that is worth over 19 Billion dollars. Unclear is to say if Nakamoto still has access to these coins. If so, he could just be the 44th richest person in the world. The problem is, nobody knows who Satoshi Nakamoto is. Besides a couple of posts on the forums about Bitcoin, there has been no personal messages or activities shared by Nakamoto.

Who is Satoshi Nakamoto?

There are many different stories including many different answers to these questions. Let’s have a look at some of the most known speculations out there and see why they might be or might not be Satoshi, the creator of Bitcoin.
Hal Finney This man was one of the pioneers in the field of cryptography prior to Bitcoin being created. Back in 2009, Finney was the first person to ever do a Bitcoin transaction and besides Nakamoto himself, he was the only person to use the software. Many analysts have compared Finney’s writing to the published work of Nakamoto and found many similar techniques and styles. Years later, Finney denied all the claims as he showed correspondence between him and Nakamoto pointing at someone else being Nakamoto. Finney has died in 2014 and his family chose to freeze his body.
Dorian Nakamoto This man is the only person who actually has the same name. Dorian Nakamoto has the birth name ‘Satoshi Nakamoto’, but this is not the only evidence. An article published in Newsweek showed an interview with Dorian confirming his affiliation with Bitcoin and confirming being the founder. The following interview, however, implicated Dorian had never heard of any virtual currency named Bitcoin nor does he have had anything to do with it. After the interview, the account used by Satoshi five years ago weirdly posted ‘I am not Dorian Nakamoto’. Whether this was the real Satoshi or a hacker, is unclear.
Craight Wright Probably the most known example is ‘Faketoshi’, better known as Craight Wright. Anyone that has known Bitcoin for a while knows it’s decentralized and the power is that no one is in charge. Anyone associated with Bitcoin confirms the identity of Nakamoto has to remain anonymous, except for Craig Wright. Ever since 2015, Wright has been claiming to be the inventor of Bitcoin. The fact that he has been affiliated with the project for years is clear, but being the inventor is false as confirmed by many Bitcoin pioneers. A couple weeks ago, the court has officially stated Craight Wright could not prove to be the inventor of Bitcoin.
In reality, nobody knows the real identity of Satoshi Nakamoto. The only way to confirm this is bringing all the old accounts back to live, moving the coins in the wallet that has been idle since 2009 and confirming the identity. This can be tough, Nakamoto might not even be alive nowadays. The beauty is, he does not have to be alive for Bitcoin to survive!
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to LitecoinMarkets [link] [comments]

Brief History Of Bitcoin

Brief History Of Bitcoin
From the earliest starting point, it was a riddle. In 2008, somebody utilizing the moniker Satoshi Nakamoto distributed a paper to a cryptography mailing list. It was called Bitcoin: A Peer-to-Peer Electronic Cash System.

Much to anyone's dismay that, at its tallness, it would build up a whole market (the crypto showcase) esteemed at $800B. That is more cash than Coca Cola, McDonald's, Ford, Caterpillar, Nike, Nintendo, and Goldman Sachs consolidated. What's more, presently, with that enormous fortune behind it, some think this single PDF can possibly overturn the whole worldwide financial industry.

On one side of this fight is a gathering of obscure cyrptographers competing to cut down business as usual. On the opposite side is the United States government, the European Union, JPMorgan Chase, and Deutsche Bank.

Money making governments over the globe, if truly tested, will persevere relentlessly to keep control of their financial frameworks. They'll likely locate an all around financed partner in the 50-trillion-dollar banking industry. The War on Money may be the most basic war of the cutting edge period in light of the fact that the victor will choose the destiny of creating economies, tax collection, expansion, fear based oppression, and — quite possibly — democracy itself.

You'd think with that much in question, the creator of this infamous paper would step into the spotlight. During Bitcoin's fleeting ascent, as the maker's close to home riches outperformed one billion dollars, you'd envision someone would reveal him. What's more, when his riches arrived at an expected $19.4B, you'd accept the IRS would come thumping.

In any case, no one has even had the option to find the baffling Nakamoto. What's more, that is part Bitcoin's allure. For the individuals who don't have the foggiest idea, Bitcoin resembles an advanced dollar. In 2009, it was worth short of what one-tenth of one penny, and in 2017, it was worth $20,000. Inside a couple of days, it tends to be worth half or twice to such an extent. Its worth vacillates quickly. That is one of its issues. Yet, the best part about Bitcoin is the one thing that doesn't change. On the off chance that you recognize what you're doing, it's difficult to find. It's generally unknown.

It's the unknown piece that is pulled in light of a legitimate concern for everyone from tax criminals to medicate dealers to fraudsters. By its very nature, Bitcoin is difficult to control. What's more, something that is difficult to control makes it simple to swindle a great deal of laws to make a huge amount of cash.

https://preview.redd.it/v69utlsazeh41.jpg?width=275&format=pjpg&auto=webp&s=f9a5cd1dedd298856bf5219feb8141ccb44ab41e
On the off chance that you would've purchased $10 worth of Bitcoin in 2009, you'd be perched on a cool $200M at the present time. That is the sort of news feature the normal individual focuses on. So news systems began announcing it. Your companions began getting it. What's more, it appeared anyone who put a couple of bucks into Bitcoin was getting the money for out with basins of gold. So the franticness started, in 2017, when Bitcoin went from a play-toy of technologists and an empowering influence of sorted out wrongdoing to a typical speculation held by pretty much everybody's grandmother.

I'm not here to disclose to you that Bitcoin is an air pocket, since I am not even close to able to demonstrate that. Specialists are as yet discussing if Bitcoin is a ware, a security, a store of significant worth, a cash, or some out and out new resource class completely. Due to this I won't start to evaluate the genuine estimation of Bitcoin. I'm not by any means sure it bodes well to. What's more, on the off chance that I by one way or another could, in the event that I had some mystery, insightful capacity to know where the cost of Bitcoin was going, I'd contribute, not composing this article.

What I am here to do is: inform you regarding the con artists. Since they're all over the place. It's explicitly self-evident. Furthermore, on the off chance that you are very brave, or you're considering getting a few (or some other Cryptocurrency), you better know exactly how awful the con artists are. Since when you're the least educated individual on the trade, you get counted on.

How profound does the Rabbit-Hole Gox?

On January 3, 2009, Satoshi Nakamoto set up the Genesis square. That is an extravagant method for saying he "mined" the first Bitcoin.

He didn't go out to some collapse Madagascar with a pickax and return with a sparkling, valuable metal. He ran a hashing calculation on his PC for some time and put away the outcomes in a record. We consider that record the "blockchain". It's open data. The explanation it's open is with the goal that it's circulated. The explanation it's dispersed is on the grounds that, dissimilar to with US Dollars, in the event that you jump on some administration authority's awful side, there's for all intents and purposes no danger of your benefits being solidified (or taken).

The blockchain is a really progressive innovation. Also, after the secretive Nakamoto discharges the Genesis square to the general population, crypto lovers pay heed. Some of them start "mining" Bitcoin. Some of them do it because of the decency of their souls. In any case, a great deal of them are presumably determined by the prize that gives "mining" its name. At the point when you run this hashing calculation on squares of exchanges and store the outcomes to the open record, you're remunerated with Bitcoin. At its pinnacle, this prize could add up to in excess of 250,000 US Dollars.
submitted by Bitcoin12investment to u/Bitcoin12investment [link] [comments]

Bitcoin BCH is the Bitcoin I thought I was getting when I bought Bitcoin back in 2012: a Peer-to-peer Electronic Cash System where the system works "just like cash"

When I got involved with Bitcoin it was the currency of the Silk Road: a digital hard currency that worked like teleportable gold so you could spend it like cash.
The idea of a weightless, invisible, teleportable hard currency was the most disruptive thing I'd ever heard of. I read the white paper, chatted with the devs here on Reddit, and eventually my skepticism became enthusiasm. Bitcoin could do to finance what the web page did to newspapers and what streaming did to music and video.
Along the way came people who didn't think Bitcoin could continue to work the way it had been working from 2009-2015. These people argued that Bitcoin would need to be changed from a Cash System for casual, cashlike payments into a Settlement System for infrequent, high value transfers.
And the rest, as they say, is history:
BTC embarked on its plan to re-engineer itself into a multilayered network by implementing Segwit which essentially froze capacity at 1-2MB for the foreseeable future.
BCH implemented a capacity upgrade that basically gives us onchain scale equivalent to if we had started with 1MB in 2009 and doubled roughly every two years. Which was more or less what the devs were talking about back when I got involved.
Bitcoin Cash BCH is the version of Bitcoin that most closely represents what I thought I was getting, back when I bought Bitcoin.
And most importantly: that vision of Bitcoin - where Alice pays Bob with no intermediary - remains the most disruptive, most impactful vision of Bitcoin.
BCH is Bitcoin: a Peer-to-peer Electronic Cash System
submitted by jessquit to btc [link] [comments]

Who Is Satoshi Nakamoto?

Bitcoin and cryptocurrencies are the new trend market today almost everywhere people are talking about Bitcoins, particularly with examples that someone has made millions in only a couple of years by smartly investing in bitcoins. It is decentralized, which means it isn't controlled nor backed up by any administration, nation, or an individual element. Unlike traditional currencies, such as dollars and euros, bitcoins are issued and managed without any regulation from any central government. Thus, it is more resistant to inflation and corruption. A Bitcoin derives its value basically from the demand and usage of bitcoins, similar to a stock. With this kind of innovation, everyone is thinking about how Bitcoin started and who created this kind of technology? The name "bitcoin.org" was registered on 18 August 2008. While on the 31st of October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. Nakamoto implemented the bitcoin software as an open-source code and released it in January 2009. Then on the 3rd of January 2009, the bitcoin network was created when Nakamoto mined the first block of the chain, known as the genesis block. Embedded in the coinbase of this block was the text "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks". This note references a headline published by The Times and has been interpreted as both timestamp and comment on the instability caused by fractional-reserve banking.
With all these groundbreaking accomplishments of bitcoin, Nakamoto's identity remains unknown. Several speculations and theories were made, but all of these speculations don't have concrete evidence to prove their speculations are true. One of the first and most easily dismissed claims was that of Dorian Satoshi Nakamoto. The 68-year-old Japanese-American living in California, was identified in a 2014 Newsweek article as the elusive Bitcoin creator. Despite his work as a systems engineer on classified US defense projects as well as his background in digital finance, the homonymous nature was sheer coincidence. While one of the most intriguing speculations is the announcement made by Craig Wright that he is Satoshi Nakamoto. As said to this article, Craig Wright is an Australian academic who was brought into the spotlight of Satoshi when Wired Magazine published an article in 2015 claiming Wright “either invented Bitcoin, or is a brilliant hoaxer”. Shortly after the Wired article was released, Gizmodo released their article stating they were contacted by a supposed hacker that had gained access to Wright’s emails and claimed that Satoshi Nakamoto was a pseudonym for Wright and his accomplice, the deceased cybersecurity expert David Kleinmen. However, when asked to provide evidence a list of addresses associated with the Tulip Trust, said to hold almost 1 million BTC the documents were highly redacted and shed little light on the true nature of Wrights involvement in the birth of Bitcoin. Still the story is not yet and finish and there is still no enough evidence in this proclamation of Craig Wright. The man behind the empire of bitcoin is still unknown, but it'll just be a matter of time till someone claims that he, she or they, are the people behind Bitcoin.
submitted by colenorris to CryptoCurrencyTrading [link] [comments]

Brief History Of Bitcoin

Brief History Of Bitcoin
Bitcoins have been classed as the world's originally decentralized cash, and for as far back as ten years, they have become all the more notable and keep on developing in notoriety.

The following is a concise history of how the Bitcoin began and what has occurred since.

2007 - It was in 2007 that the idea of the Bitcoin started. It is accepted that it was begun by Satoshi Nakamoto, in spite of the fact that very little is thought about him, other than the reality he is on record as living in Japan. Truth be told, many conjecture this may very well be a pen name more than one individual. Albeit soon, this character totally evaporated from the world.

August 2008 An application for an encryption patent application was recorded by three people who denied having any association with the supposed originator of the Bitcoin idea. They were Neal Kin, Vladimir Oksman and Charles Bry.

Around the same time, they namelessly purchased and enlisted the space bitcoin.org.

October 2008 In October of 2008, only two months after the space was enlisted, a paper titled, 'Bitcoin: A Peer-to-Peer Electronic Cash System', was distributed on a cryptography mailing list, apparently composed by Satoshi Nakamoto.

The paper laid out the establishment of how the Bitcoin would really work, and takes care of the issue of cash being duplicated, which permitted Bitcoin to develop genuinely.

November 2008 A month after the white paper was distributed, the Bitcoin venture is enlisted on a network joint effort site, SourceForge, which centers around the improvement and circulation of open source programming.

January 2009 In mid 2009, the principal square, which was nicknamed 'Beginning' is propelled, which permitted the primary adaptation of Bitcoin to be discharged.

There was further hypothesis that Bitcoins were created by more than one individual, as it had been accumulated with Microsoft Visual Studio for Windows, yet needed order line interface. It was anticipated as of now that a Bitcoin age framework would make a sum of 21 million Bitcoins during that time 2040.

Later on, right now, first exchange occurred among Satoshi and Hal Finney, a designer and cryptographic lobbyist.

October 2009 In October, New Liberty Standard distributes a Bitcoin swapping scale. The worth was built up and they distributed a pace of a Bitcoin at 1USD = 1,309.03 BTC. This was chosen utilizing a condition that incorporated the expense of the power to run the PC that produced Bitcoins.

Later on this month, the #bitcoin-dev channel is enrolled on freenode IRC, which was a conversation arrange intended for nothing and open source advancement networks.

December 2009 In late 2009, the second form of the Bitcoin was created and discharged; anyway later on in the month, they acquired their first trouble increment.

February 2010 In mid 2010, the Bitcoin money trade was conceived, and the Market was built up by the now ancient organization dollar. Later on in the month, and 18 months after the application was documented, the encryption patent was distributed and endorsed.

May 2010 This month would end up being an achievement for Bitcoins, because of the way that the primary genuine exchange occurred. A software engineer named Laszlo Hanyecz, who lived in Florida pays 10,000 Bitcoins on a pizza, that was initially purchased from Papa Johns by a volunteer in England. The conversion scale at the time put the price tag for the pizza at 25USD.

https://preview.redd.it/93tj7l1248g41.jpg?width=750&format=pjpg&auto=webp&s=ddd04f2fc86eaf33bc9894dd98f30781511c4f42
Given the present swapping scale, today the pizza is esteemed at 1,961,034GBP.

July 2010 The third form of Bitcoin is created and discharged. Later on that month, there were an enormous number of new Bitcoin clients, on account of a notice of the new form on Slashdot.

During a multi day time of this current month, the trade estimation of Bitcoin expanded multiple times, from 0.0008USD/BTC to 0.080USD/BTC which the prompted Jed McCaleb building up a Bitcoin money trade showcase named MtGox.

August 2010 August 2010 end up being a sad month for the Bitcoin, and the framework was hacked. A defenselessness in the framework caused Bitcoins to be inappropriately checked, and accordingly abused, which brought about the age of 184 million Bitcoins. The made the worth drop radically.

September 2010 This was a bustling month for Bitcoins, as they attempted to recoup from the hacking the earlier month. An offer was made by jgarzik as 10,000BTC, which was proportionate to 650USD at that point, to open source their Windows-based CUDA customer. Later on that month, they took this offer and discharged the source, under the MIT permit.

October 2010 Bitcoins confronted a ton of investigation this month, when a between administrative gathering named The Financial Action Task Force gave a report on tax evasion, notice about the utilization of computerized monetary standards to fund fear based oppressor gatherings.

In spite of this report, the Bitcoin swapping scale, which had slowed down, started to climb once more. This came after the principal open adaptation of an OpenCL digger is discharged.
submitted by Bitcoin12investment to u/Bitcoin12investment [link] [comments]

Subreddit Stats: btc top posts from 2019-01-06 to 2020-01-05 11:19 PDT

Period: 363.85 days
Submissions Comments
Total 1000 86748
Rate (per day) 2.75 237.19
Unique Redditors 317 7747
Combined Score 194633 356658

Top Submitters' Top Submissions

  1. 31014 points, 162 submissions: Egon_1
    1. Vitalik Buterin to Core Maxi: “ok bitcoiner” .... (515 points, 206 comments)
    2. These men are serving life without parole in max security prison for nonviolent drug offenses. They helped me through a difficult time in a very dark place. I hope 2019 was their last year locked away from their loved ones. FreeRoss.org/lifers/ Happy New Year. (502 points, 237 comments)
    3. "It’s official Burger King just accepted Bitcoin Cash and GoC token as a payment option in Slovenia." (423 points, 112 comments)
    4. "HOLY SATOSHI! 😱😱 I did it! A smart card that produces valid BitcoinCash signatures. Who would love to pay with a card—to a phone?? Tap took less than a second!👟..." (368 points, 105 comments)
    5. Chrome 'Has Become Surveillance Software. It's Time to Switch' -> Brave to support BCH! (330 points, 97 comments)
    6. Gavin Andresen (2017): "Running a network near 100% capacity is irresponsible engineering... " (316 points, 117 comments)
    7. "Evidently @github has banned all the Iranian users without an ability for them to download their repositories. A service like Github must be a public good and must not be controlled by a centralized entity. Another great example of why we as a society need to make web3 a reality" (314 points, 117 comments)
    8. Roger Ver: "Bitcoin Cash acceptance is coming to thousands of physical shops in Korea" (313 points, 120 comments)
    9. Paul Sztorc: “Will people really spend $70-$700 to open/modify a lightning channel when there's an Altcoin down the street which will process a (USD-denominated) payment for $0.05 ? Many people seem to think yes but honestly I just don't get it” (306 points, 225 comments)
    10. Food For Thought (303 points, 105 comments)
  2. 29021 points, 157 submissions: MemoryDealers
    1. Bitcoin Cash is Lightning Fast! (No editing needed) (436 points, 616 comments)
    2. Brains..... (423 points, 94 comments)
    3. Meanwhile in Hong Kong (409 points, 77 comments)
    4. Ross Ulbricht has served 6 years in federal prison. (382 points, 156 comments)
    5. Just another day at the Bitcoin Cash accepting super market in Slovenia. (369 points, 183 comments)
    6. Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers. (369 points, 207 comments)
    7. History Reminder: (354 points, 245 comments)
    8. It's more decentralized this way. (341 points, 177 comments)
    9. The new Bitcoin Cash wallet is so fast!!!!! (327 points, 197 comments)
    10. The IRS wants to subpoena Apple and Google to see if you have downloaded crypto currency apps. (324 points, 178 comments)
  3. 6909 points, 37 submissions: BitcoinXio
    1. Tim Pool on Twitter: “How the fuck are people justifying creating a world like the one's depicted in Fahrenheit 451 and 1984? You realize that censorship and banning information was a key aspect of the dystopian nightmare right?” (435 points, 75 comments)
    2. The creator of the now famous HODL meme says that the HODL term has been corrupted and doesn’t mean what he intended; also mentions that the purpose of Bitcoin is to spend it and that BTC has lost its value proposition. (394 points, 172 comments)
    3. Erik Voorhees on Twitter: “I wonder if you realize that if Bitcoin didn’t work well as a payment system in the early days it likely would not have taken off. Many (most?) people found the concept of instant borderless payments captivating and inspiring. “Just hold this stuff” not sufficient.” (302 points, 66 comments)
    4. Bitfinex caught paying a company to astroturf on social media including Reddit, Twitter, Medium and other platforms (285 points, 86 comments)
    5. WARNING: If you try to use the Lightning Network you are at extremely HIGH RISK of losing funds and is not recommended or safe to do at this time or for the foreseeable future (274 points, 168 comments)
    6. Craig Wright seems to have rage quit Twitter (252 points, 172 comments)
    7. No surprise here: Samson Mow among other BTC maxi trolls harassed people to the point of breakdown (with rape threats, etc) (249 points, 85 comments)
    8. On Twitter: “PSA: The Lightning Network is being heavily data mined right now. Opening channels allows anyone to cluster your wallet and associate your keys with your IP address.” (228 points, 102 comments)
    9. btc is being targeted and attacked, yet again (220 points, 172 comments)
    10. Brian Armstrong CEO of Coinbase using Bitcoin Cash (BCH) to pay for food, video in tweet (219 points, 66 comments)
  4. 6023 points, 34 submissions: money78
    1. BSV in a nutshell... (274 points, 60 comments)
    2. There is something going on with @Bitcoin twitter account: 1/ The URL of the white paper has been changed from bitcoin.com into bitcoin.org! 2/ @Bitcoin has unfollowed all other BCH related accounts. 3/ Most of the posts that refer to "bitcoin cash" have been deleted?!! Is it hacked again?! (269 points, 312 comments)
    3. "Not a huge @rogerkver fan and never really used $BCH. But he wiped up the floor with @ToneVays in Malta, and even if you happen to despise BCH, it’s foolish and shortsighted not to take these criticisms seriously. $BTC is very expensive and very slow." (262 points, 130 comments)
    4. Jonathan Toomim: "At 32 MB, we can handle something like 30% of Venezuela's population using BCH 2x per day. Even if that's all BCH ever achieved, I'd call that a resounding success; that's 9 million people raised out of poverty. Not a bad accomplishment for a hundred thousand internet geeks." (253 points, 170 comments)
    5. Jonathan Toomim: "BCH will not allow block sizes that are large enough to wreak havoc. We do our capacity engineering before lifting the capacity limits. BCH's limit is 32 MB, which the network can handle. BSV does not share this approach, and raises limits before improving actual capacity." (253 points, 255 comments)
    6. What Bitcoin Cash has accomplished so far 💪 (247 points, 55 comments)
    7. Which one is false advertising and misleading people?! Bitcoin.com or Bitcoin.org (232 points, 90 comments)
    8. A message from Lightning Labs: "Don't put more money on lightning than you're willing to lose!" (216 points, 118 comments)
    9. Silk Road’s Ross Ulbricht thanks Bitcoin Cash’s [BCH] Roger Ver for campaigning for his release (211 points, 29 comments)
    10. This account just donated more than $6600 worth of BCH via @tipprbot to multiple organizations! (205 points, 62 comments)
  5. 4514 points, 22 submissions: unstoppable-cash
    1. Reminder: bitcoin mods removed top post: "The rich don't need Bitcoin. The poor do" (436 points, 89 comments)
    2. Peter R. Rizun: "LN User walks into a bank, says "I need a loan..." (371 points, 152 comments)
    3. It was SO simple... Satoshi had the answer to prevent full-blocks back in 2010! (307 points, 150 comments)
    4. REMINDER: "Bitcoin isn't for people that live on less than $2/day" -Samson Mow, CSO of BlockStream (267 points, 98 comments)
    5. "F'g insane... waited 5 hrs and still not 1 confirmation. How does anyone use BTC over BCH BitcoinCash?" (258 points, 222 comments)
    6. Irony:"Ave person won't be running LN routing node" But CORE/BTC said big-blocks bad since everyone can't run their own node (256 points, 161 comments)
    7. BitPay: "The Wikimedia Foundation had been accepting Bitcoin for several years but recently switched pmt processors to BitPay so they can now accept Bitcoin Cash" (249 points, 61 comments)
    8. FreeTrader: "Decentralization is dependent on widespread usage..." (195 points, 57 comments)
    9. The FLIPPENING: Fiat->OPEN Peer-to-Peer Electronic Cash! Naomi Brockwell earning more via BitBacker than Patreon! (193 points, 12 comments)
    10. LN Commentary from a guy that knows a thing or 2 about Bitcoin (Gavin Andresen-LEAD developer after Satoshi left in 2010) (182 points, 80 comments)
  6. 3075 points, 13 submissions: BeijingBitcoins
    1. Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo! (410 points, 166 comments)
    2. Chess.com used to accept Bitcoin payments but, like many other businesses, disabled the option. After some DMs with an admin there, I'm pleased to announce that they now accept Bitcoin Cash! (354 points, 62 comments)
    3. WSJ: Bitfinex Used Tether Reserves to Mask Missing $850 Million, Probe Finds (348 points, 191 comments)
    4. Bitcoiners: Then and Now [MEME CONTEST - details in comments] (323 points, 72 comments)
    5. I'd post this to /Bitcoin but they would just remove it right away (also I'm banned) (320 points, 124 comments)
    6. So this is happening at the big protest in Hong Kong right now (270 points, 45 comments)
    7. /Bitcoin mods are censoring posts that explain why BitPay has to charge an additional fee when accepting BTC payments (219 points, 110 comments)
    8. The guy who won this week's MillionaireMakers drawing has received ~$55 in BCH and ~$30 in BTC. It will cost him less than $0.01 to move the BCH, but $6.16 (20%) in fees to move the BTC. (164 points, 100 comments)
    9. The Bitcoin whitepaper was published 11 years ago today. Check out this comic version of the whitepaper, one of the best "ELI5" explanations out there. (153 points, 12 comments)
    10. Two Years™ is the new 18 Months™ (142 points, 113 comments)
  7. 2899 points, 18 submissions: jessquit
    1. Oh, the horror! (271 points, 99 comments)
    2. A few days ago I caught flak for reposting a set of graphs that didn't have their x-axes correctly labeled or scaled. tvand13 made an updated graph with correct labeling and scaling. I am reposting it as I promised. I invite the viewer to draw their own conclusions. (214 points, 195 comments)
    3. Do you think Bitcoin needs to increase the block size? You're in luck! It already did: Bitcoin BCH. Avoid the upcoming controversial BTC block size debate by trading your broken Bitcoin BTC for upgraded Bitcoin BCH now. (209 points, 194 comments)
    4. Master list of evidence regarding Bitcoin's hijacking and takeover by Blockstream (185 points, 113 comments)
    5. PSA: BTC not working so great? Bitcoin upgraded in 2017. The upgraded Bitcoin is called BCH. There's still time to upgrade! (185 points, 192 comments)
    6. Nobody uses Bitcoin Cash (182 points, 88 comments)
    7. Double-spend proofs, SPV fraud proofs, and Cashfusion improvements all on the same day! 🏅 BCH PLS! 🏅 (165 points, 36 comments)
    8. [repost] a reminder on how btc and Bitcoin Cash came to be (150 points, 102 comments)
    9. Holy shit the entire "negative with gold" sub has become a shrine devoted to the guilded astroturfing going on in rbtc (144 points, 194 comments)
    10. This sub is the only sub in all of Reddit that allows truly uncensored discussion of BTC. If it turns out that most of that uncensored discussion is negative, DON'T BLAME US. (143 points, 205 comments)
  8. 2839 points, 13 submissions: SwedishSalsa
    1. With Bitcoin, for the first time in modern history, we have a way to opt out. (356 points, 100 comments)
    2. In this age of rampant censorship and control, this is why I love Bitcoin. (347 points, 126 comments)
    3. The crypto expert (303 points, 29 comments)
    4. Satoshi reply to Mike Hearn, April 2009. Everybody, especially newcomers and r-bitcoin-readers should take a step back and read this. (284 points, 219 comments)
    5. Bitcoin Cash looking good lately. (235 points, 33 comments)
    6. Roger Ver bad (230 points, 61 comments)
    7. History of the BTC scaling debate (186 points, 54 comments)
    8. MFW i read Luke Jr wants to limit BTC blocks to 300k. (183 points, 116 comments)
    9. Meanwhile over at bitcoinsv... (163 points, 139 comments)
    10. Listen people... (155 points, 16 comments)
  9. 2204 points, 10 submissions: increaseblocks
    1. China bans Bitcoin again, and again, and again (426 points, 56 comments)
    2. China bans Bitcoin (again) (292 points, 35 comments)
    3. Bitcoin Cash Network has now been upgraded! (238 points, 67 comments)
    4. So you want small blocks with high fees to validate your own on chain transactions that happen OFF CHAIN? (212 points, 112 comments)
    5. It’s happening - BTC dev Luke jr writing code to Bitcoin BTC codebase to fork to lower the block size to 300kb! (204 points, 127 comments)
    6. Former BTC maximalist admits that maxi's lied cheated and stealed to get SegWit and Lightning (201 points, 135 comments)
    7. Just 18 more months to go! (172 points, 86 comments)
    8. Bitcoin Cash ring - F*CK BANKS (167 points, 51 comments)
    9. LTC Foundation chat leaked: no evidence of development, lack of transparency (155 points, 83 comments)
    10. A single person controls nearly half of all the Lightning Network’s capacity (137 points, 109 comments)
  10. 2138 points, 12 submissions: JonyRotten
    1. 'Craig Is a Liar' – Early Adopter Proves Ownership of Bitcoin Address Claimed by Craig Wright (309 points, 165 comments)
    2. 200,000 People Have Signed Ross Ulbricht's Clemency Petition (236 points, 102 comments)
    3. Street Artist Hides $1,000 in BTC Inside a Mural Depicting Paris Protests (236 points, 56 comments)
    4. Craig Wright Ordered to Produce a List of Early Bitcoin Addresses in Kleiman Lawsuit (189 points, 66 comments)
    5. Ross Ulbricht Clemency Petition Gathers 250,000 Signatures (163 points, 24 comments)
    6. Ross Ulbricht Letter Questions the Wisdom of Imprisoning Non-Violent Offenders (160 points, 50 comments)
    7. Expert Witness in Satoshi Case Claims Dr Wright's Documents Were Doctored (155 points, 44 comments)
    8. California City Official Uses Bitcoin Cash to Purchase Cannabis (151 points, 36 comments)
    9. Money Transmitter License Not Required for Crypto Businesses in Pennsylvania (141 points, 9 comments)
    10. McAfee to Launch Decentralized Token Exchange With No Restrictions (137 points, 35 comments)

Top Commenters

  1. jessquit (16708 points, 2083 comments)
  2. Ant-n (7878 points, 1517 comments)
  3. MemoryDealers (7366 points, 360 comments)
  4. Egon_1 (6205 points, 1001 comments)
  5. 500239 (5745 points, 735 comments)
  6. BitcoinXio (4640 points, 311 comments)
  7. LovelyDay (4353 points, 457 comments)
  8. chainxor (4293 points, 505 comments)
  9. MobTwo (3420 points, 174 comments)
  10. ShadowOfHarbringer (3388 points, 478 comments)

Top Submissions

  1. The perfect crypto t-shirt by Korben (742 points, 68 comments)
  2. The future of Libra Coin by themadscientistt (722 points, 87 comments)
  3. when you become a crypto trader... by forberniesnow (675 points, 54 comments)
  4. A Reminder Why You Shouldn’t Use Google. by InMyDayTVwasBooks (637 points, 209 comments)
  5. Imagine if in 2000 Apple just sat around all day shit-talking Microsoft. Apple would have never gone anywhere. Apple succeeded because they learned from their mistakes, improved, and got better. BCH should do the same. by guyfawkesfp (552 points, 255 comments)
  6. Bitcoin made The Simpsons intro! Sorry for the potato quality by Johans_wilgat (521 points, 44 comments)
  7. Vitalik Buterin to Core Maxi: “ok bitcoiner” .... by Egon_1 (515 points, 206 comments)
  8. Can't stop won't stop by Greentoboggan (514 points, 78 comments)
  9. These men are serving life without parole in max security prison for nonviolent drug offenses. They helped me through a difficult time in a very dark place. I hope 2019 was their last year locked away from their loved ones. FreeRoss.org/lifers/ Happy New Year. by Egon_1 (502 points, 237 comments)
  10. Blockchain? by unesgt (479 points, 103 comments)

Top Comments

  1. 211 points: fireduck's comment in John Mcafee on the run from IRS Tax Evasion charges, running 2020 Presidential Campaign from Venezuela in Exile
  2. 203 points: WalterRothbard's comment in I am a Bitcoin supporter and developer, and I'm starting to think that Bitcoin Cash could be better, but I have some concerns, is anyone willing to discuss them?
  3. 179 points: Chris_Pacia's comment in The BSV chain has just experienced a 6-block reorg
  4. 163 points: YourBodyIsBCHn's comment in I made this account specifically to tip in nsfw/gonewild subreddits
  5. 161 points: BeijingBitcoins's comment in Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo!
  6. 156 points: hawks5999's comment in You can’t make this stuff up. This is how BTC supporters actually think. From bitcoin: “What you can do to make BTC better: check twice if you really need to use it!” 🤦🏻‍♂️
  7. 155 points: lowstrife's comment in Steve Wozniak Sold His Bitcoin at Its Peak $20,000 Valuation
  8. 151 points: kdawgud's comment in The government is taking away basic freedoms we each deserve
  9. 147 points: m4ktub1st's comment in BCH suffered a 51% attack by colluding miners to re-org the chain in order to reverse transactions - why is nobody talking about this? Dangerous precident
  10. 147 points: todu's comment in Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers.
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Brief History Of Bitcoin

Brief History Of Bitcoin
Pre-history of advanced cash (1989-2007)

While Bitcoin is the leader of the cryptographic money crowd, it isn't the principal venture to present the idea of advanced cash. In spite of the fact that the first accomplished the state being referred to in a decentralized manner, taking care of the Byzantine general's concern that most antecedents of Bitcoin battled with.

Truth be told, there was something other than one endeavor to bring a computerized variant of money and even gold, at first to monetary organizations and corporate organizations, and later to the standard open, beginning as right on time as the late 80s.

From DigiCash and B-Money to e-gold and Bit Gold, there are various ideas that may be considered as 'advanced monetary standards' that were acquainted earlier with Bitcoin. While not every one of them made it to the advanced the truth, being for quite some time overlooked as simply one more understudy's proposition, Satoshi Nakamoto himself makes reference to a portion of the creators of the above ventures in his unique Bitcoin white paper, clarifying that Bitcoin was in reality dependent on cryptographic ideas as imagined by cypherpunk networks and PC researchers 'once upon a time'.

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The minority of such items that figured out how to 'make it' to the market in the end bombed because of the nonappearance of some essential qualities found in widespread worth trade mediums, for example, gold. That made Bitcoin for all intents and purposes what it is on account of the reality it was explicitly intended to match and convey gold's most significant characteristics including its shortage.

The introduction of the Bitcoin blockchain (2008-2009)

Precisely eleven years back, on October 31, 2008, an examination paper entitled "Bitcoin: A Peer-to-Peer Electronic Cash System" was distributed among a cryptographer-situated mailing list by a netizen self-named as 'Satoshi Nakamoto', basically portraying a dream of a decentralized disseminated advanced cash framework, which depended on existing cypherpunk ideas that were already never joined in a solitary task.

Two or three months in and Nakamoto had distributed the primary form of the open-source Bitcoin programming on SourceForge in January 2009, starting interest and energy among cryptography specialists and specialists, however influencing essentially nobody else outside that small rundown.

The first Bitcoin exchange at any point was performed between Satoshi Nakamoto himself and Hal Finney, an early Bitcoin adopter who many estimate could be one of only a handful scarcely any individuals who know Nakamoto's actual personality (or characters).

More coders began to trade thoughts and tinker with the open-source code that was by the late spring of that year accessible on Github, and numerous Bitcoin-explicit discussions were made so as to engage genuine engineers to get composed with the undertaking.

It is said that before the finish of 2009, only 309 IPs were diverted to Wiki's Bitcoin page, while BTC, the local money of the Bitcoin organize didn't yet have a market cost.

Strangely, at that point, there was only one Bitcoin Wallet accessible and it required the full Bitcoin blockchain - proportionate to 6GB in those days - to be downloaded and adjusted all together for the wallet to be usable.

Vitalik Buterin, the now youthful prime supporter of Ethereum ETH, 0.02%, was all the while functioning as a writer in those days, and his audit of the wallet read:
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So What Exactly Is a Bitcoin Anyhow? Total Breakdown of Bitcoin

There's digital money, and after that there's Bitcoin. The extremely geeky Bitcoin is a mathematically-derived currency that promises to change the method people utilize money. Bitcoins are not real coins-they're strings of code secured with military-grade encryption-and people that use them to deal items as well as solutions are tough to trace. In addition to confidential drug dealers, Ashton Kutcher as well as the Winklevoss doubles have actually reportedly jumped on the bandwagon. There's something to be said regarding utilizing currency that isn't regulated by the government or financial institutions, doesn't come with the normal deal costs and is impossible to imitation. Bitcoin likewise promises to be disaster-proof, since you can not damage numbers similarly that you can damage gold books or fiat money.
nuv mining
What is Bitcoin?
Bitcoin is an electronic money produced in 2009 by a designer hiding under the pseudonym of Satoshi Nakamoto (supposedly a Japanese individual that has best command of American English). Bitcoin is decentralized, meaning it is not controlled by a central authority like a banks, country, federal government or person. It is peer-to-peer as well as open-source, dispersed throughout the net from computer to computer, without demand for middlemen. Contrasted to U.S. bucks, Bitcoin is essentially untraceable, making it attractive to libertarians worried of federal government meddling and also citizens of the underworld. You can use it to spend for acquisitions online as well as off, from controlled substances on the Silk Road to legit restaurant meals.
nuvmining
Where to Obtain Bitcoins
You can get Bitcoins from buddies, on-line free gifts or by acquiring them with actual money from Bitcoin exchanges. Using actual cash to purchase Bitcoins defeats the whole function of anonymity, however, since you might require to add your bank account to a third party site. You can also purchase Bitcoins utilizing your cellphone or with money deposit establishments. New Bitcoins are developed by "mining." Mining is done automatically by computers or servers-it's not real-world mining where you need to dig underground to uncover commodities, but the idea is similar. You have to exert initiative to collect gold, and you (or your device) likewise have to spend time as well as sources to confirm as well as tape Bitcoin purchases.
One of the coolest features of Bitcoin is that it gets its value not from real-world items, but from codes. Bitcoins are pulled out of the ether by equipments (as well as individuals that run them) for fixing complex mathematical problems associated with the present variety of Bitcoins These bulky and pricey supercomputers featured powerful security capabilities (as well as apparently draw electrical power like no one's company). In a typical purchase, purchaser A from area X pays seller B some Bitcoins online. Miners after that race to validate and encrypt the transaction, logging Bitcoin codes in a central server. Whomever fixes the problem initially gets the Bitcoins Concerning 25 new Bitcoins are produced for every 10-minute block, but that number can enhance or lower depending on how much time the network runs.
Just How to Utilize Bitcoins.
As soon as you obtain your hands on some Bitcoins, you require to store them in an on-line budget via a computer system program or a third-party web site. You become part of the Bitcoin network as soon as you produce your virtual purse. To send Bitcoins to one more individual or pay for on-line purchases, obtain that person/seller's identification number and also transfer Bitcoins online. Processing takes concerning a few minutes to a hr, as Bitcoin miners across the globe verify the deal.
Just How to Earn Money on Bitcoins.
If you're still skeptical, one Bitcoin is currently worth about $90 (as of 18 April 2013), with hourly variations that can make a day trader dizzy. Unpredictable as it is, more and more people are starting to bleed the phenomenon for all it is worth-while it lasts. How to obtain your piece of the online gold rush? Some methods: Sell Bitcoin mining computers, market your Bitcoins at crazy rates on ebay.com as well as hypothesize on Bitcoin markets. You can additionally begin mining. Any person can mine Bitcoins, yet unless you can pay for a reliable arrangement, it will take an average COMPUTER a year or even more to address formulas. Lots of people sign up with swimming pools of various other miners that integrate their computer power for faster code-cracking.
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Brief History Of Bitcoin

Brief History Of Bitcoin
The cash in your pockets has three fundamental qualities – it's unmistakable, halfway controlled and simple to fake. Bitcoin is the careful inversion of it. Bitcoin is a cryptographic money that works autonomously without banking foundations and the administration intruding into its undertakings. There's nothing physical about it – it's everything virtual!

It's non-unmistakable, however renders gains seriously. It streams uninhibitedly, without anybody/anything controlling and following its impressions. What's more, regular financial impacts, be it either expansion or emptying, don't manage it, as its worth is completely controlled by showcase request.

All the more critically, Bitcoin exchanges are irreversible. Once started, there's no real way to withdraw. Bitcoin exchanges bear no expenses, and should be possible with outright obscurity. Step by step, it's turning out to be as standard as other financial qualities in the market. Be that as it may, with no administration backing, Bitcoin holds significance as long as online traders acknowledge it.

THE HISTORY OF BITCOIN

Bitcoin is the brainchild of Satoshi Nakamoto, who distributed a white paper on the development on October 31, 2008, specifically "Bitcoin: A Peer-to-Peer Electronic Cash System", depicting what Bitcoin is. It was on January 2009 when Version 0.1 of Bitcoin was discharged. What's more, soon, Satoshi and Hal Finney, a cryptographic extremist, executed in bitcoins.

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During October 2009, a conversion scale for the bitcoin was built up, which was US$1 = 1,309.03 BTC. This rate was chosen in the wake of confining up a condition with respect to what amount is the expense of the power to run a PC, producing bitcoins.
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Bitcoin: A Peer-to-Peer Electronic Cash System Bitcoin: A Peer-to-Peer Electronic Cash System Part 5 Bitcoin: A Peer-to-Peer Electronic Cash System  Bitcoin Cash is Bitcoin Avoid Distractions: Bitcoin: A Peer-to-Peer Electronic Cash System Eric Scrivner on Bitcoin: A Peer-to-Peer Electronic Cash System

On October 31 of 2008, a paper written by a person or group named ‘Satoshi Nakamoto’ released a white paper called “ Bitcoin: A Peer-to-Peer Electronic Cash System.” Bitcoin (BTC) is a peer-to-peer cryptocurrency that aims to function as a means of exchange that is independent of any central authority.BTC can be transferred electronically in a secure, verifiable, and immutable way. Launched in 2009, BTC is the first virtual currency to solve the double-spending issue by timestamping transactions before broadcasting them to all of the nodes in the Bitcoin Bitcoin is one of the most popular cryptocurrencies that was introduced by Satoshi Nakamoto in his whitepaper "bitcoin: a peer-topeer electronic cash system". Bitcoin is the first commercial The contents of this website is licensed under CC BY 3.0. This website is run by Bitcoin Unlimited as part of the effort to support the continued growth and adoption of Bitcoin Cash as a peer-to-peer electronic cash system as described in Satoshi Nakamoto's white paper. × Close Bitcoin: un sistema de dinero en efectivo electrónico peer-to-peer1 Satoshi Nakamoto [email protected] www.bitcoin.org Traducido al español por @breathingdog Resumen.Una forma de dinero en efectivo electrónico puramentepeer-to-peer debería permitir enviar pagosonline directamente entre las partes y sin pasar a través de una

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Bitcoin: A Peer-to-Peer Electronic Cash System

This month Eric Scrivner (@etscrivner) presented Bitcoin: A Peer-to-Peer Electronic Cash System---Bitcoin is many things - a critique, a currency, a protocol, and perhaps even acontemporary ... Electronic or Digital Currency: Moving to a Cashless System. What is Bitcoin - the Internet of Value - Central banks may eventually create a purely digital currency issued to it’s citizens Bitcoin is defined as "A Peer-to-Peer Electronic Cash System" as written in the Bitcoin white paper, by creator Satoshi Nakamoto. Bitcoin Cash, is the Bitcoi... This lecture covers the following topics: Overview of Peer-to-Peer Electronic Cash System Transactions Timestamp Server Proof of Work Steps to run the network Incentive Reclaiming Disk Space ... Avoid Distractions: Bitcoin: A Peer-to-Peer Electronic Cash System 🍎 Egon_01 BCH. Loading... Unsubscribe from Egon_01 BCH? ... Bitcoin Cash is effectively Bitcoin: ...

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