What Happened to Bitcoin: A Recap of the Blockchain's Big ...
What Happened to Bitcoin: A Recap of the Blockchain's Big ...
What happened to Bitcoin… – BitcoinVideo
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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
What happens to Bitcoin when countries switch to their own gold-backed cryptos?
Every country will have their own gold-backed crypto soon (in order to maintain their sovereignty and purchasing power), so where does that leave the current cryptos? I am not familiar with the reasons people invest in cryptos, but it looks like it's often a hedge against the financial system. I don't think people will see a need to hedge against the system if we have a system that is trustworthy and is better due to crypto technology. So my prediction is that interest in Bitcoin will slowly dwindle once this change to the financial system is made. I'm investing in silver due to the increasing demand over the next years for industrial purposes. A lot of mines have been put on hold around the world this year, so it's a great opportunity to get in now. Once the price is no longer suppressed by banks (think draining the swamp), silver's going to skyrocket.
Question regarding the viability of bitcoin in the long term. From my understanding, the security of bitcoin comes from miners who verify the blockchain. What happens when there is so much halving that the reward for mining bitcoin is extremely low and the cost of verifying the blockchain for the miners exceeds the reward of their bitcoin?
I recently started trading on Purse.io because I got some earning on mturk via a transcription work I did. But because I don't live in the US, I could only get earnings credited to my gift card balance on Amazon. Now after my first transaction on Purse, I moved my bitcoin to Paxful to get another card and go through the process again of earning on Purse again. But after reading the hefty risks associated with trading on Purse, including potentially getting your Amazon account blocked and potentially getting scammed out of your cash on Paxful, I decided it wasn't worth it so let me just convert my btc to fiat. Amount $100 From Purse to Paxful $2.20 From Paxful to Bitcoin.com wallet $5.30 From wallet to Skrill via bitpay: Bitcoin.com fee $3.8 Bitpay fee: $2.30 Skrill fee: 1% of incoming balance. So in total, I paid $13+ to transfer less than $70. ( I took a mandatory 37% discount hit on Purse.io per my earner level). So that makes it 18.5% transaction fees!!! Another thing I realized is that though I knew Bitcoin is volatile, I now experienced it firsthand where you could literally see the value of your money going up and down with every refresh of the webpage. With this, the only purpose Bitcoin will have for now is speculation and people like me who has no other choice. Though i believe my transaction wouldn't have been possible without Bitcoin (crypto), i don't believe in Bitcoin as a currency any longer for the level of fees and volatility associated with it. Alas, that $100 had been sitting in my gift card balance since 2017 so I guess it's better than nothing.
This week, the Bitcoin block reward halving happened on May 11, at around 7:23 pm UTC. The event took place automatically after 210,000 blocks were mined. I’ve covered the technical details of the halving in previous newsletters, so I won’t go over them again. The important thing to note is that the block reward to miners will halve from 12.5 BTC to 6.25 BTC, hence the name of the event. What. The. Hell. As reported by Ethereum World News earlier today, Bitcoin (BTC) suddenly spiked straight out of left field. Within minutes, the cryptocurrency found itself above $4,200 after trading right under that resistance level for a number of days, even weeks. While BTC breached $5,000 for a brief period during Tuesday morning’s sudden spike, the market has since pulled back slightly ... Bitcoin has crashed. The decision what to do next comes back to the schism between believing it will be worth $100,000-plus a coin or $0 a coin. The Last Time This Happened, Bitcoin Rallied 150%. The Signal Just Returned. by Nick Chong. 5 months ago. in Bitcoin. Reading Time: 3min read Bitcoin hasn’t done too well over the past few days. Despite the fact that the block reward halving came to pass just hours ago, the cryptocurrency is actually down since last week’s highs of $10,100, now trading at $8,500. This drop hasn’t stopped ... Bitcoin News is the world's premier 24/7 news feed covering everything bitcoin-related, including world economy, exchange rates and money politics.
Its not surprising that bitcoin is crushing because thats how our economy works, so lets take a deep look at how and why exactly it happened and will its going to increase again! You will stay ... What Is Happening To Bitcoin Price Today Bitcoin ABOUT This Video This Is A Bitcoin current Price Updating video About Cryptoalam Channel This Channel gives... BCH has a contentious split coming up in November. Learn more about Bitcoin ABC vs Bitcoin Satoshi's Vision ----- Seminar: http://progra... (PAID PARTNERSHIP) JOIN MY BYBIT TEAM: https://www.bybit.com/wsot_troop_info?contest_id=1&team_id=3&ref=l2RA6 BITCOIN TODAY: In this video, I'll go through t... When a Bitcoin crashes, it won’t just be its holders who feel the pain. Adding Wall street leverage to the Bitcoin equation. “buying with borrowed money.” So when you buy something with ...