Deal with small stores, get to know the owners, and eventually ask to pay in Bitcoin!

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WEEK #2 _ (10/04-15/04)

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So you've learned the basics about bitcoin, you're excited about the potential and now you want to buy some*. But how?
(*Please, never invest more than you can afford to lose - cryptocurrencies are volatile and the price could go down as well as up.)
Bitcoin can be bought on exchanges, or directly from other people via marketplaces.
You can pay for them in a variety of ways, ranging from hard cash to credit and debit cards to wire transfers, or even with other cryptocurrencies, depending on who you are buying them from and where you live.

Week 1 :(02/4-08/4)
Twitter campaign
*Spreadsheet #159
Twitter username:@opu00998877
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Eth address: 0x5E2793f95E46E0Db39f6003CaF43b93eD752176C

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When it comes to speed and price for Bitcoin vs Bitcoin Cash, Bitcoin Cash has an advantage over Bitcoin. It is becoming extremely popular among users and has been increasing in value even since its introduction. But like Bitcoin, it has its share of problems. The increased block size could have a centralizing effect and reduce the attack resistance of the network. Bitcoin hasn’t been around for long, so we’ll have to wait until it sees more daily transactions to find out if that will actually happen.
So in comparing Bitcoin vs Bitcoin Cash, the truth is Bitcoin Cash is not better or worse than Bitcoin. It’s just different. The two can co-exist on the market, along with many other cryptocurrencies including Ripple and Ethereum, to name a few. But the important thing to remember is that despite having similar names, they are two entirely separate currencies.

One of the biggest investment stories over recent months was the launch of bitcoin futures, which essentially offer exposure to the cryptocurrency, without actually having to own it.
The launch has garnered a lot of criticism, with concerns revolving around the instability (or lack of regulation) of bitcoin exchanges, and the fear that encouraging more people to enter the market at this point of time could exacerbate an already volatile asset class.
There’s also the risk that the bitcoin market could collapse if a stampede of futures traders all sell their contracts at once.
Bitcoin futures got off to a good start immediately after their debut last month. But they’ve been on a downward spiral since the beginning of 2018, and now sit at the $14,000 mark, down from an opening price of $15,000 at launch, meaning many futures investors are set to face large losses when the monthly contracts expire tomorrow.
If anything, this episode just draws attention to the volatile nature of the cryptocurrency.
Despite the drop in price, it’s likely we could see the creation of more futures markets going forward, as demand for crypto continues to grow

The Bitcoin bull continues to charge as the price soars to over $14k. The run-up over the past few months has been fueled by reports of Bitcoin futures trading coming to US exchanges, but the most recent bump comes after an exciting announcement about the progress of the Lightning Network.

Money, as we know, has two functions. It can be used for transactions, or it can be held as an asset. Is Bitcoin then a means of transaction, or is it an asset? Or is it both, as almost all currencies are?
I would argue that Bitcoins cannot be meaningfully used for transactions, except in a very restrictive sense, and hence are not money.
It is an asset class, and speculative pressures explain the volatility of its price. I am restricting myself here to Bitcoins, considering it to be representative of other cryptocurrencies.
The reason that Bitcoins are not used for everyday transactions, unlike all other forms of money, is because it simply cannot be scaled . Any transaction in paper money is independent of any other transaction; it is independent of how many other transactions are taking place simultaneously in the system. It is fully scalable, subject only to the amount of currency in the system.
In the world of digital transactions, decent credit card systems today can handle 60,000 transactions a second. Bitcoin, as it involves solving a hard cryptographic problem, can currently handle only 3 to 7 transactions a second, as each block contains a maximum of 2,000 transactions, and takes about 10 minutes to mine. That means that transaction completion times can be anything from a few minutes to hours, and if it is for everyday transactions, the transaction cost can become a very large fraction of the transaction itself.
One set of transactions with cryptocurrency can still happen in the real world. These are criminal transactions, where anonymity is the key; where those hijacking your computer using the Wannacry ransomware demand to be paid in Bitcoins. Apart from such criminal transactions, there does not appear to be any reason why transactions in the real world should take place in Bitcoins.
Why is the value of cryptocurrencies than yaw-yawing wildly?
As we answered, it is largely speculation. More than 40 per cent of all Bitcoins are held by less than 1,000 accounts, leading to the potential for large market manipulations. Further, with transborder flows becoming important in the age of tax havens, a number of the super rich want to hedge their bets by holding their wealth in different forms: from stolen paintings to Bitcoins.
In the age of global financial oligarchy, the hype in Bitcoins and its wild fluctuations are simply indicators of the increasing criminalisation of the financial system.

This could be the world’s first supermarket to accept bitcoin as payment thanks to Pick n Pay and Luno, 2 South African companies.

How exactly to interpret bitcoin is a matter of controversy – as a currency, a store of value, a payment network, an asset class?

Fortunately, leaving the economic debates aside, it's pretty easy to answer what bitcoin actually is – software. Don't be fooled by stock images of shiny coins bearing modified Thai baht symbols. Bitcoin is a purely digital phenomenon, a set of protocols and processes. It is the most successful of hundreds of attempts to create virtual money through the use of cryptography (the science of making and breaking codes), though competition is heating up.

Let's think of a hypothetical scenario if Bitcoin becomes the world's major (most used + highest market cap) currency one day. How will it change the world? The obvious point is cheaper money transfers, but what about its impact on the global economy? Is a "deflationary" currency better for the world? Is quantitative easing really that bad?

There is no best time to buy Bitcoin.

Searching for the best time betrays a focus on short-term price performance and chasing quick returns. This mindset is ill-advised. Serious Bitcoin adopters do not care about short term profits, and anyone eager to buy Bitcoin also should not. Bitcoin is a revolutionary form of sound money, not a get-rich-quick scheme.

But Bitcoin is also a patently contrarian investment and somewhat unintuitive to boot. Seeking a modicum of advice before exchanging fiat currency for cryptocurrency is a rational choice. Except advice premised on a best time is bad advice.

Good advice: adopt three incredibly simple principles before buying a single Satoshi. Educate yourself, buy the dips, and never sell.

1.2017 has been huge for Bitcoin. At the start of the year, the currency was trading for about $900 per coin. It bumped along, hitting $1,000 in February, before beginning its huge rally in late November that took it all the way up to $19,000, before crashing back down to $10,000. Following a rally in the last day or two, it’s back up to $15,000.
2) The big question now is what happens next. Bitcoin has done a lot of growing up in the last month, as professional investors have started taking a real interest in the currency. The first few months of 2018 are going to determine whether Bitcoin is a real investment, a viable currency, or a total bust.

3) Where Bitcoin prices go in the short term will largely depend on the regulatory environment. On the plus side for Bitcoin, it’s starting to be traded on traditional markets. Two big exchanges, the CME and CBOE are already offering Bitcoin trading to investors. The system is a little messy — what they’re really offering is futures prices, based on the Bitcoin price averaged from a few big exchanges — but the result is that investors can trade in Bitcoin on a secured, non-hackable, reputable exchange. But at the same time, the main US regulator, the SEC, warned this month that there’s “substantially less investor protection than in our traditional securities markets, with correspondingly greater opportunities for fraud and manipulation.”

4) Investors are also at risk from exchanges collapsing, or being hacked: most hobby speculators store their Bitcoin in a wallet kept with one of the big cryptocurrency exchanges, which makes them accessible to hackers. Bitcoin exchanges have been plundered by hackers in the past, and with the increased value of Bitcoin, you’d imagine it’s just a matter of time until a hack happens.

5) The price of bitcoin is down more than 25 percent from an all-time high of nearly $20,000 reached this past weekend, market data shows.

Prices fell to as low as $14,502 to start today's trading session, according to CoinDesk's Bitcoin Price Index (BPI), about 27 percent from the all-time high of $19,783 reported on Dec. 17.

6)Overall, bitcoin has seen several notable price drops following Sunday's gains, including a dip below $17,000 on Tuesday that accounted for a roughly $1,800 drop on the day. Indeed, analysts have suggested that the price could experience continued volatility as 2017 comes to a close and new money, brought in by bitcoin's meteoric gains, exits for fiat.

Sure, all of that is a possibility, but also the opposite can be true.

By investing in bitcoin you are just doing what your oppressors are doing to you - you’re claiming ownership over something that you’re expecting will be in high demand later on so you can sell it off/use it for your profit at another’s loss. This is not how you beat your oppressors, this is just another one of their systems and that’s why it will fail you. Stop letting greed rule you and work for your freedom

I sold a computer power supply on ebay using paypal. Well the guys paid then wrote me it is broken. Before I could answer him my paypal was minus. He toke his money back. But it is not that simple anymore! The money he took back was put in a special account. He was required to send me the Power Supply before the money was released.
I would assume a plan money transfer is the same. But dont know but worth looking into!

This is a model -- not a prediction.
But in general I do believe Bitcoin could replace the vast majority of fiat and gold.
How much, and how fast are the big questions. I posted the sheet so others could clone it and play with the dials. 🙂
To be clear, I also believe Bitcoin is highly risky, which also indicates that it can be extremely rewarding.

In most developed countries, Bitcoin is totally legal, the countries where Bitcoin is banned are mostly developing countries or underdeveloped ones. In developed countries government don’t interfere with the market and let things go according to the will of the market (more like the market is determined by Adam Smith’s invisible hand). This also is contributing to the national growth of their countries and also helping the GDP grow big. But in any case, Bitcoin doesn’t care about being legal or illegal, as long as there are people willing to do the mining, developers willing to continue developing apps or software, and people willing to accept it as money and trading happens, government can’t do anything about it. The best option for any government is just to accept Bitcoin and go with the flow, and enjoy the advantages which Bitcoin offers. In the near future the overall value of the cryptocurrency industry will become more than the value of a Trillion US Dollars and just imagine how many employment it will create. One of the core duties of every government is to ensure the employment of their citizens. Governments' from developed countries offer unemployment benefits to their citizens and underdeveloped countries would just let their citizens die from hunger, just accepting a technology will provide so many employment opportunities, which the people of those countries are currently missing because their governments refuses to accept Crypto as legal.

The blockchain is a decentralized, incorruptible, public ledger of all cryptocurrency transactions and has many uses cases, depending on the industry. In cars its used to improve the tracking system of independent vehicles or the driving capacities of them. Porsche noticed one week after Volkswagen introduced their plan in partnership with IOTA.

"It's a beautiful, beautiful sunny day here as it typically is," says Ethan Erkiletian from Nassau, Bahamas.
Half a year ago, Erkiletian moved to the Island of New Providence, a move he said his investments allowed him to make, "cryptocurrency being the primary driver."
He first got interested in cryptocurrency in 2012. Today, he works as a consultant for individuals and businesses interested in learning about how the blockchain technology behind cryptocurrencies will impact their industries.
Bitcoin is the most well-known cryptocurrency, with good reason; its price has been hovering around $20,000 per bitcoin lately, increasing more than 1,600 per cent since the start of the year.
It's also an extremely volatile investment. In December alone, its value rose almost 80 per cent, and then dropped by 40 per cent on Dec. 22 before slowly climbing back up. Many experts say the bitcoin craze is a bubble that's sure to burst.