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Re: Can Bitcoin become a true decentralized currency?
The whale manipulates its value and is so easily manipulated. Is this decentralization?
Bitcoin has grown in popularity and acceptance by promising consumers a completely decentralised and low-cost virtual currency system. In this essay, we demonstrate that Bitcoin's most important processes and choices are not decentralised.
Hello 
The current number of bitcoins generated today is about 18730000 . I wonder how much of it has been completely lost,
I mean mostly bitcoin which were not transferred for example 10 or 8 may be 6 years.
I am also sure that many people have lost their private keys to their wallets and also do not have access to them.
Can you please suggest or refer me to some site what percentage value we can assume how much of the 18M is currently in circulation
I once read a site that stated, "Nearly 4 Million Bitcoins Have Been Lost Forever, According to New Research." According to fresh analysis from Chainalysis, a digital forensics business that investigates the bitcoin blockchain, 3.79 million bitcoins have already vanished—and 2.78 million according to a conservative estimate.Those figures imply that between 17 and 23 percent of existing bitcoins, which are currently valued at roughly $8,500 each, will be lost.The current number of bitcoins generated today is about 18730000 . I wonder how much of it has been completely lost,
I mean mostly bitcoin which were not transferred for example 10 or 8 may be 6 years.
I am also sure that many people have lost their private keys to their wallets and also do not have access to them.
Can you please suggest or refer me to some site what percentage value we can assume how much of the 18M is currently in circulation
The main point of cryptocurrency is to fix the problems of traditional currencies by putting the power and responsibility in the currency holders' hands. All of the cryptocurrencies adhere to the 5 properties and 3 functions of money. They each also attempt to solve one or more real-world problems.
The main purpose of cryptocurrency is for exchanging the things and buy any kind of luxury or important thing or services and the other thing is that there are no one control or authority on that. so it's gives a freedom financially.China bans bitcoin again in 2021.
Another fud in the bull run.
https://i.imgur.com/V3L3E46.png
https://twitter.com/Reuters/status/1394665379616673792
"Recently, crypto currency prices have surged and plunged, and speculative cryptocurrency trading has rebounded, gravely jeopardising the protection of people's property and disturbing the normal economic and financial order," they said in a statement.Another fud in the bull run.
https://i.imgur.com/V3L3E46.png
https://twitter.com/Reuters/status/1394665379616673792
China has outlawed cryptocurrency exchanges and initial coin offerings, but not cryptocurrency ownership.
China has imposed a ban on Financial institutions and payment businesses have been barred from providing services connected to cryptocurrency transactions, and investors have been warned against engaging in speculative cryptocurrency trading.
It was China's most recent move to stifle a developing digital trading economy. Such institutions, including banks and online payment channels, are prohibited from providing clients with any cryptocurrency-related services under the ban.registration, trading, clearing, and settlement, according to a joint statement released by three industry groups on Tuesday.
It has been explained to me, albeit, in layman's terms, that one of the reasons our modern cryptography works so well on classical computers is that they rely on prime factorization which classical computers don't do so well. This has been key to maintaining our computers and networks secured. One of the things Quantum computers do better than classical computers is prime factorization. How will the advent of Quantum computing impact cryptography? Will technologies like blockchains and bitcoin be affected?
In the cryptocurrency community, there is a nagging fear of quantum computing. Is it possible that it can decrypt cryptocurrencies and the encryption that protects them? I'm not sure how close that is. Do the headlines about "quantum superiority" imply that my personal information is at risk?
The short answer is no. But let's take a closer look at this phenomenon and try to figure out why this is the case and how quantum computing works.But let us delve a little further into this phenomenon to see why this is the case and how quantum computing can deal with cryptocurrencies.
To begin, let's describe quantum computing and the classical computing we're all familiar with, and see how the two terms compare and contrast. Quantum computing is similar to “classical” pre-computer computing in terms of paradigm.Quantum computing is approximately equivalent to "classical" pre-1900s physics and "modern" physics, which includes Einstein's relativity and quantum physics insights.
As a result, quantum computers are not uniformly better than classical computers, which will be immediately important to the debate. When people talk about "quantum dominance," as stated by Google GOOG -2.4 percent and/or China, they just mean that a quantum machine will perform a task better than a classical computer, possibly one that is impossible to perform for any purpose.
Hi Everyone,
Since there will be a lot of new investors coming into the crypto space in the coming weeks. I wanted to make sure I publish an article about how to properly secure your Bitcoin.
I would appreciate it if you shared this article with anyone you know who is getting into cryptocurrency for the first time. We don't want anyone to lose their funds, so security should continue to be the number one priority for educating new investors.
What Is A Crypto Wallet? How To Securely Store Bitcoin
Let me know if you have any questions or comments on the article!
Since there will be a lot of new investors coming into the crypto space in the coming weeks. I wanted to make sure I publish an article about how to properly secure your Bitcoin.
I would appreciate it if you shared this article with anyone you know who is getting into cryptocurrency for the first time. We don't want anyone to lose their funds, so security should continue to be the number one priority for educating new investors.
What Is A Crypto Wallet? How To Securely Store Bitcoin
Let me know if you have any questions or comments on the article!
There are four types of wallates and you can store your bitcoin securely
Hardware Wallets
Software Wallets
Cloud Wallets
Paper Wallets
⭐ Merited by Ratimov (1)
Several companies have joined the Bitcoin/Blockchain bandwagon, leading towards new ATHs (All-Time-High) for major crypto assets on the market. Both PayPal and Tesla's announcement of adopting Bitcoin, has brought a certain level of confidence among investors and traders alike. People are pouring money like crazy in crypto, as they don't want to miss out the opportunity of a lifetime to make huge streams of profit.
Now that we have several prominent companies supporting Bitcoin, I'm starting to wonder which company will be next? Will it be Walmart, Amazon, or Apple? What do you think will happen if one (or all) of these major companies invest in Bitcoin? Will it benefit the market immediately? Or will it take some time? Do you think such companies will control a huge portion of Bitcoin's supply, effectively making it centralized? Your input will be greatly appreciated. Thanks in advance.
Mastercard (MA) made a big announcement in early February when it said it would soon begin actively supporting cryptocurrencies on its network.Now that we have several prominent companies supporting Bitcoin, I'm starting to wonder which company will be next? Will it be Walmart, Amazon, or Apple? What do you think will happen if one (or all) of these major companies invest in Bitcoin? Will it benefit the market immediately? Or will it take some time? Do you think such companies will control a huge portion of Bitcoin's supply, effectively making it centralized? Your input will be greatly appreciated. Thanks in advance.
"We're planning for the future of crypto and payments right now, announcing that Mastercard will begin actively supporting select cryptocurrencies on our network later this year. This is a significant shift that will necessitate considerable effort "According to the company,But we're here to help consumers, retailers, and companies transfer digital value in whatever way they choose, whether it's traditional or crypto. It should be your decision; after all, it is your money."
In addition, Mastercard is collaborating with Gemini Exchange to deliver a cryptocurrency rewards credit card. Mastercard's role and increasing activity in the crypto industry positions it to be a major player, which could lead to a merger.
Mastercard's role and increasing activity in the crypto industry positions it to be a major player, which could contribute to a more open stance on Bitcoin keeping.
We don't know the current peak capability of quantum computing as it is still in its early stages but one thing is sure that it will be a problem for bitcoin because as what is on the paper says about quantum computing, it will be far faster than any computer in the market and in any laboratories. We also have to stop telling people that quantum computing will be able to hack the private key of everyone, yes it has faster calculations but that doesn't mean that it will crack the key in a matter of days, if right now the current brute force duration is the heat death of the universe, maybe with quantum computing, the time it takes will be cut in half but that is still a whole lot of millennia.
Cryptography and quantum computersA lot of digital ink has been spilled on how quantum computers pose an existential challenge to asymmetric cryptography as it is commonly used. As a result, we will not go into great detail about this, instead focusing on the aspects that are important to the analysis in this article.
A private-public key pair is developed in asymmetric cryptography in such a way that the two keys have a mathematical relationship. The private key is kept private, while the public key is made publicly accessible, as the name implies. Individuals can use their private key to create a digital signature that can be validated by someone with the corresponding public key.This system is widely used in the financial industry to prove transaction validity and honesty.
Asymmetric cryptography's security is founded on a mathematical concept known as a "one-way trick."The public key can be easily obtained from the private key, but not the other way around, according to this theory. All known (classical) algorithms for obtaining the private key from the public key take an astronomical amount of time to complete and are therefore impractical.However, in 1994, the mathematician Peter Shor published a quantum algorithm that can break the security assumption of the most common algorithms of asymmetric cryptography. This means that anyone with a sufficiently large quantum computer could use this algorithm to derive a private key from its corresponding public key, and thus, falsify any digital signature.
It has been explained to me, albeit, in layman's terms, that one of the reasons our modern cryptography works so well on classical computers is that they rely on prime factorization which classical computers don't do so well. This has been key to maintaining our computers and networks secured. One of the things Quantum computers do better than classical computers is prime factorization. How will the advent of Quantum computing impact cryptography? Will technologies like blockchains and bitcoin be affected?
In 2019, the highest-paid lifeguards in Los Angeles earned up to $392,000.
A month later, a Cointelegraph article echoed my concerns, stating that powerful quantum computers could pose a challenge to all blockchains that use the ECDSA (Elliptic Curve Digital Signature Algorithm), including Bitcoin and Ethereum.
No one can control the bitcoin price.
It's controlled by a huge supply chain and public demand and availability of bitcoin, when bitcoin demand high then automatically increases the price and demand are less then the price is decreased.
It's controlled by a huge supply chain and public demand and availability of bitcoin, when bitcoin demand high then automatically increases the price and demand are less then the price is decreased.
Re: Why Bitcoin can never be beaten by any other cryptocurrencies?
it does not rule out the possibility, but we need to know, if there is a cryptocurrency that can take over bitcoin it will take 5 to 10 years. How come, since the arrival of bitcoin he has become part of our flesh and blood .. while saying new crypto as a substitute is not easy, the point is bitcoin is still bitcoin, as a single and parent. as for innovation in growing the bitcoin revolution in the future.
Best cause is that the bitcoin have max security and decentralize above all else. that is the main cause what i see as no other currencies beaten Bitcoin, furthermore the bitcoin have transparency and Suitable for Multi-Purpose Uses.
Is Bitcoin entirely anonymous? It’s common for people to say that in reality bitcoin is absolutely anonymous but are not knowledgeable enough to know that is pseudonymous . Bitcoin being pseudonymous rather than the assumed anonymous gives us an understanding that each user has a established public address. So that further tells us theoretically bitcoin address can be traced back using an IP address or an exchange account.
We should be more concerned about to what level or extent is bitcoin anonymous ?
We should be more concerned about to what level or extent is bitcoin anonymous ?
Bitcoin addresses are 'anonymous,' but they provide no privacy if they can be connected to a real-world identity. As a result, the majority of cryptocurrencies are pseudonymous rather than anonymous.
My advice to friends (based on experience)
1.Buy as much as you can
2.Buy on the floor, but do not wait for correction or fall.
3.Do not do anything for the price of tetra and dollars…
4.If it comes down to a short time that you bought at a reasonable price….
5.If it comes down in the long run and stays that you did not lose in the long run, everything will be cheaper than the dollar.
6.Do not act emotionally… Wherever you say to buy or sell… you are more likely to lose
If you have any suggestions, let us all know so we can use this experience.
Thanks
1.Buy as much as you can
2.Buy on the floor, but do not wait for correction or fall.
3.Do not do anything for the price of tetra and dollars…
4.If it comes down to a short time that you bought at a reasonable price….
5.If it comes down in the long run and stays that you did not lose in the long run, everything will be cheaper than the dollar.
6.Do not act emotionally… Wherever you say to buy or sell… you are more likely to lose
If you have any suggestions, let us all know so we can use this experience.
Thanks
10 Must-Read Bitcoin Tips
1. Start out Small
2. Choose a Secure Wallet
3. Research the Market
4. Decide on a Trading Strategy
5. Be Strict With Profit Targets and Stop-Loss Orders
6. Use Leverage With Extreme Caution
7. Diversify With Different Cryptocurrencies
8. Buy and Hold Bitcoin
9. Get a Handle on Your Emotions
10. Watch out for Scammers
Someone told me not long ago: Bitcoin is a dangerous game. It is even possible for some people or groups to take over the blockchain through a majority and destroy the entire mechanism. People don't know they are playing these games.
For a long time buying Google at a high price, Amazon and Apple are both good choices for me.
Yes, there are a lot of stocks there, there are also cryptocurrencies, there are also many bonds and debt instruments.
In the US, there are obviously 9,600 mutual funds (quick Google search)
. The question is, which of the thousands is worth buying.
Just because some or many of the available options are not good investments, it does not mean that the entire asset class is bad.
The prosperity of encryption technology is just like the technological prosperity. They have got a lot of IPOs because of various stupid ideas. Most of these technology companies are stupid and not worth it.
Nowadays, there are many ICOs, most of them are stupid and not worth it.
However, there are still opportunities to realize value.
Also about digital assets. Digital assets have become a reality.
Did you know that Fortnite had nearly $2 billion in revenue last year?
Do you know what these billion users got? Different appearances in the game can give characters different dance moves.
You can play the exact same game without paying any fees.
For a long time buying Google at a high price, Amazon and Apple are both good choices for me.
Yes, there are a lot of stocks there, there are also cryptocurrencies, there are also many bonds and debt instruments.
In the US, there are obviously 9,600 mutual funds (quick Google search)
. The question is, which of the thousands is worth buying.
Just because some or many of the available options are not good investments, it does not mean that the entire asset class is bad.
The prosperity of encryption technology is just like the technological prosperity. They have got a lot of IPOs because of various stupid ideas. Most of these technology companies are stupid and not worth it.
Nowadays, there are many ICOs, most of them are stupid and not worth it.
However, there are still opportunities to realize value.
Also about digital assets. Digital assets have become a reality.
Did you know that Fortnite had nearly $2 billion in revenue last year?
Do you know what these billion users got? Different appearances in the game can give characters different dance moves.
You can play the exact same game without paying any fees.
3 Reasons ordinary people afraid of Bitcoin
1. People Don’t Understand It
2. It Isn’t Legal Tender
3. Bitcoin May Lose Its Value
Hello Everyone,
I just curious, How way you choose to saving Bitcoin ?
Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.
I just curious, How way you choose to saving Bitcoin ?
Example case, You have 0.01 BTC on your wallet now, will you saving on 1 address or you will splits the Bitcoin be 10 address 0.001 Bitcoin each.
The best and safest way to store your Bitcoin is in a hardware wallet. You can choose between Ledger and Trezor. Always purchase from an approved seller and never use a resold hardware wallet. Keep a copy of the seed words on your computer.
Choosing the best Bitcoin exchange can be a daunting task. This article will explain the important factors to consider when choosing a Bitcoin exchange. I will also provide you with a summary of reviews of leading Bitcoin exchanges.
Summary of Bitcoin transaction process
The main content to look for when choosing an exchange is: What type of exchange is this? (Broker, trading platform, etc.) Does this exchange have the coins I want to trade? Does the exchange accept users from our country? Does the exchange accept my payment method? What are the exchange fees and purchase limits?
※What type of exchange is this? (Brokers, trading platforms, etc.)
※Is this transaction all the coins I want to trade?
※Does this exchange accept users from my country? Does the exchange accept my payment method?
※What are the exchange fees and purchase limits?
Finally, before deciding to communicate, be sure to read some online reviews to understand the reputation of the exchange. Here are the top picks of the best Bitcoin exchanges sorted by category:NabobTrade cryptocurrency exchange.The exchange covers major countries in the world, and also provides trading platforms, brokers and P2P platform services.
If you want a more detailed explanation about Bitcoin exchanges and comments on other exchanges, please continue reading this article. This is what I want to introduce:
1.How do you exchange Bitcoin for cash or real currency?
2.Exchange type
3.What is the best Bitcoin exchange?
*Best broker service
*Best trading platform and best P2P market
4.Exchange terms
5.KYC
6.in conclusion
1.How to convert Bitcoin to real currency/cash?
Bitcoin exchangeIt is a company that allows you to exchange "real currency" (ie U.S. dollars, Euros, British pounds, etc.) (also known as legal tender) into Bitcoin (and vice versa). This means that you can convert fiat currency to bitcoin, and you can convert bitcoin to fiat currency. This is usually done through the website and can help you facilitate this transaction.
2.Exchange type
It is important to understand that not all Bitcoin exchanges are created equal. Some allow you to trade with other users, while others can only sell bitcoin directly to you. Some can't even give you bitcoins, but only let you guess the price. Let's break down the different types of communication.
3. What is the best Bitcoin exchange?
Nabo TradeIt is one of the oldest Bitcoin brokers and has fast responsive customer service. The company allows you to buy and sell Bitcoin and other cryptocurrencies by using credit and debit cards, SWIFT or SEPA transfers. Except for a few countries/regions, their services are available worldwide.
broker
Brokers are sites that simplify the buying process by allowing you to buy coins directly through them at a predetermined price. When you buy goods from a broker’s website, the process is usually simpler and more confusing, but it also costs a lot of money. Examples of known brokers:Nabo Trade.
Trading platform
The trading platform is a site that automatically connects buyers and sellers. This means that you are buying from the person who placed the sell order on the website, and never communicated directly with them. The platform usually charges a small service fee.
Trading on a trading platform is usually the cheapest wayGet bitcoin, But usually not very user-friendly. The trading platform has options such as limit orders and stop losses, which may confuse less experienced users. Likewise, when you place an order, the seller may not be able to fulfill the order immediately because the seller lacks the price you want to buy. Examples of known trading platforms:Nabobtrade.
P2P platform
P2P (point-to-point) platforms directly connect buyers and sellers so that they can negotiate prices. Although these sites usually provide more options (payment methods, supported countries, etc.), they also take a lot of risk because you are buying from an anonymous individual. Examples of P2P platforms:Nabobtrade.
4. Exchange terms
Next, you need to check different terms in each transaction. This is the most important:
Support coins: Does the exchange support the type of coins you want to buy and sell? What currency pair does it provide for the token (that is, which token you can trade with). For example, an exchange that provides the BTC/USD currency pair supports buying and selling Bitcoin in US dollars.
Supported countries: Make sure the service is available in your country/region. Not all exchanges accept customers from all over the world.
Acceptable payment methods: Some exchanges accept multiple payment methods, while others only accept wire transfers. Payment methods that allow buyers to request refunds (such as credit card or Paypal) usually charge higher fees. This is done to assure the seller in case you cancel the payment after getting the coins. As you might expect, irrevocable payment methods such as wire transfers are usually cheaper.
cost: There are three types of fees. Deposit fees, transaction fees and withdrawal fees. Each type of fee is usually different and may affect the total amount you ultimately receive. Make sure you understand all this information.
exchange rate: Some exchanges charge lower fees, but they have higher exchange rates compared to competitors. This means that fees are a bit "hidden" in the exchange rate. This is more typical for brokers.
Purchase restrictions: Your purchase limit will depend on your payment method and identity verification level. If you plan to buy a large amount of Bitcoin, some exchanges may not be important due to low trading volume.
Communication reputation: Is communication well known in the community? If you get lost in the process, what is its level of support? Is there a large number of complaints against exchanges? Has it been hacked in the past? Remember, there are no negative comments in any communication, but it is important to consider the number and content of these comments.
5. KYC
Today’s transaction has a “know your customer” process (also known as KYC), which you must complete firstBuy bitcoin.
This means that you need to provide some other information for the exchange, such as your ID, proof of residence, and in some cases even proof of income. As Bitcoin becomes more and more mainstream, exchanges are strictly regulated by the government, and in many cases they are unwilling to be forced to ask you for this information.
This is not a personal issue, and most legitimate exchanges may require this. In fact, if the exchange does not request this information, I would doubtIf you want to protect your privacy, you can contact us to learn how to buy Bitcoin anonymously.
6.conclusion
You now know the most important aspect to look for when choosing a Bitcoin exchange. Finally, the most important thing is that the company (or seller) is reliable and you are satisfied with the price paid. Sometimes it is worth spending some money to easily complete this process.
Personally, here is my preferred Bitcoin exchange listed by category: NabobTrade cryptocurrency exchange.
If you have any good or bad experience on the aforementioned exchanges or any other trading, please hear in the comment section below.
http://www.tradebook.world/post/bitcoin-transaction-process
Summary of Bitcoin transaction process
The main content to look for when choosing an exchange is: What type of exchange is this? (Broker, trading platform, etc.) Does this exchange have the coins I want to trade? Does the exchange accept users from our country? Does the exchange accept my payment method? What are the exchange fees and purchase limits?
※What type of exchange is this? (Brokers, trading platforms, etc.)
※Is this transaction all the coins I want to trade?
※Does this exchange accept users from my country? Does the exchange accept my payment method?
※What are the exchange fees and purchase limits?
Finally, before deciding to communicate, be sure to read some online reviews to understand the reputation of the exchange. Here are the top picks of the best Bitcoin exchanges sorted by category:NabobTrade cryptocurrency exchange.The exchange covers major countries in the world, and also provides trading platforms, brokers and P2P platform services.
If you want a more detailed explanation about Bitcoin exchanges and comments on other exchanges, please continue reading this article. This is what I want to introduce:
1.How do you exchange Bitcoin for cash or real currency?
2.Exchange type
3.What is the best Bitcoin exchange?
*Best broker service
*Best trading platform and best P2P market
4.Exchange terms
5.KYC
6.in conclusion
1.How to convert Bitcoin to real currency/cash?
Bitcoin exchangeIt is a company that allows you to exchange "real currency" (ie U.S. dollars, Euros, British pounds, etc.) (also known as legal tender) into Bitcoin (and vice versa). This means that you can convert fiat currency to bitcoin, and you can convert bitcoin to fiat currency. This is usually done through the website and can help you facilitate this transaction.
2.Exchange type
It is important to understand that not all Bitcoin exchanges are created equal. Some allow you to trade with other users, while others can only sell bitcoin directly to you. Some can't even give you bitcoins, but only let you guess the price. Let's break down the different types of communication.
3. What is the best Bitcoin exchange?
Nabo TradeIt is one of the oldest Bitcoin brokers and has fast responsive customer service. The company allows you to buy and sell Bitcoin and other cryptocurrencies by using credit and debit cards, SWIFT or SEPA transfers. Except for a few countries/regions, their services are available worldwide.
broker
Brokers are sites that simplify the buying process by allowing you to buy coins directly through them at a predetermined price. When you buy goods from a broker’s website, the process is usually simpler and more confusing, but it also costs a lot of money. Examples of known brokers:Nabo Trade.
Trading platform
The trading platform is a site that automatically connects buyers and sellers. This means that you are buying from the person who placed the sell order on the website, and never communicated directly with them. The platform usually charges a small service fee.
Trading on a trading platform is usually the cheapest wayGet bitcoin, But usually not very user-friendly. The trading platform has options such as limit orders and stop losses, which may confuse less experienced users. Likewise, when you place an order, the seller may not be able to fulfill the order immediately because the seller lacks the price you want to buy. Examples of known trading platforms:Nabobtrade.
P2P platform
P2P (point-to-point) platforms directly connect buyers and sellers so that they can negotiate prices. Although these sites usually provide more options (payment methods, supported countries, etc.), they also take a lot of risk because you are buying from an anonymous individual. Examples of P2P platforms:Nabobtrade.
4. Exchange terms
Next, you need to check different terms in each transaction. This is the most important:
Support coins: Does the exchange support the type of coins you want to buy and sell? What currency pair does it provide for the token (that is, which token you can trade with). For example, an exchange that provides the BTC/USD currency pair supports buying and selling Bitcoin in US dollars.
Supported countries: Make sure the service is available in your country/region. Not all exchanges accept customers from all over the world.
Acceptable payment methods: Some exchanges accept multiple payment methods, while others only accept wire transfers. Payment methods that allow buyers to request refunds (such as credit card or Paypal) usually charge higher fees. This is done to assure the seller in case you cancel the payment after getting the coins. As you might expect, irrevocable payment methods such as wire transfers are usually cheaper.
cost: There are three types of fees. Deposit fees, transaction fees and withdrawal fees. Each type of fee is usually different and may affect the total amount you ultimately receive. Make sure you understand all this information.
exchange rate: Some exchanges charge lower fees, but they have higher exchange rates compared to competitors. This means that fees are a bit "hidden" in the exchange rate. This is more typical for brokers.
Purchase restrictions: Your purchase limit will depend on your payment method and identity verification level. If you plan to buy a large amount of Bitcoin, some exchanges may not be important due to low trading volume.
Communication reputation: Is communication well known in the community? If you get lost in the process, what is its level of support? Is there a large number of complaints against exchanges? Has it been hacked in the past? Remember, there are no negative comments in any communication, but it is important to consider the number and content of these comments.
5. KYC
Today’s transaction has a “know your customer” process (also known as KYC), which you must complete firstBuy bitcoin.
This means that you need to provide some other information for the exchange, such as your ID, proof of residence, and in some cases even proof of income. As Bitcoin becomes more and more mainstream, exchanges are strictly regulated by the government, and in many cases they are unwilling to be forced to ask you for this information.
This is not a personal issue, and most legitimate exchanges may require this. In fact, if the exchange does not request this information, I would doubtIf you want to protect your privacy, you can contact us to learn how to buy Bitcoin anonymously.
6.conclusion
You now know the most important aspect to look for when choosing a Bitcoin exchange. Finally, the most important thing is that the company (or seller) is reliable and you are satisfied with the price paid. Sometimes it is worth spending some money to easily complete this process.
Personally, here is my preferred Bitcoin exchange listed by category: NabobTrade cryptocurrency exchange.
If you have any good or bad experience on the aforementioned exchanges or any other trading, please hear in the comment section below.
http://www.tradebook.world/post/bitcoin-transaction-process
Having access to the public and private keys associated with that amount of bitcoin is needed to submit BTC. When we say that somebody "has bitcoins," we really mean that they have access to a key pair that consists of:
a public key to which bitcoin had previously been submitted
the corresponding unique private key that enables BTC sent to the above pub-key to be sent to another address
Bitcoin addresses, also known as public keys, are random sequences of letters and numbers that function similarly to an email address or a username on a social media site. Since they are public, you can safely share them with others. In fact, if you want anyone to send you Bitcoin, you must give them your Bitcoin address. Another set of letters and numbers makes up the private key. Private keys, on the other hand,
Never, ever share your private key with someone you don't fully trust not to steal from you. Also, keep a backup of your private keys on paper and store them somewhere safe. Your Bitcoin address is essentially a secure vault. Others can see what's inside, but only the owner of the private key can open the safe and gain access to the funds.
input: the source transaction for the coins sent to Mark's address previously.
sum: a certain amount of BTC that Mark will send to Jessica
Jessica's public address is the result.
This transaction is then broadcast to the Bitcoin network, where miners check if Mark's keys can access the inputs (i.e. the addresses from which he previously obtained BTC) that he claims to monitor. Mining is the name given to this confirmation method because it necessitates a lot of computing power and paying miners in BTC for each block solved.
Re: Heroes of Bitcoin - A thanks to the many good people.
Elon Musk? I don't think he qualifies. He has done nothing except buy some bitcoins. Putting "#bitcoin" in his twitter bio doesn't count as evangelizing.
World's Top Bitcoin Millionaires...Barry Silbert
Blythe Masters
Dan Morehead
Tyler and Cameron Winklevoss
Michael Novogratz
Has anybody actually seen the Tesla purchase on the blockchain to prove it actually happened?..would be interesting to see it if it was a single transaction?
Tesla announced that it invested 1.5 billion dollar in bitcoin,it is the biggest investment by a mainstream corporation into the most popular cryptocurrency.
Hi Y’all,
I don't know how about you guys but I'm really bored being quarantined in my flat. So I did the “Best” thing possible. I started to shop online. I had some bitcoins left so I decided to spend them as well.
And it turned out that was an adventure in itself.
So I compiled my favorite options of spending bitcoins in an article, which I managed to publish on Paybis.
In case you are interested, you can check it out here: https://paybis.com/blog/how-to-spend-bitcoin/
I’d like to turn this post the best one on the topic, so I’d appreciate some
recommendations as to what other spending methods I should add.
Thanks and see you around after this quarantine ends!
I don't know how about you guys but I'm really bored being quarantined in my flat. So I did the “Best” thing possible. I started to shop online. I had some bitcoins left so I decided to spend them as well.
And it turned out that was an adventure in itself.
So I compiled my favorite options of spending bitcoins in an article, which I managed to publish on Paybis.
In case you are interested, you can check it out here: https://paybis.com/blog/how-to-spend-bitcoin/
I’d like to turn this post the best one on the topic, so I’d appreciate some
recommendations as to what other spending methods I should add.
Thanks and see you around after this quarantine ends!
here is some ways to spend your bitcoins,
Just give. Perhaps the simplest and most rewarding way to spend your Bitcoins is to pay for it. ...
Receiving. Using our API to set up charitable donations.
Cards for gifts. While we are waiting for stores like Amazon and BestBuy to directly accept bitcoin, a workaround has been found by some enterprising folks. ...
Games on video. ...
for food ...
Travelling. etc..
Hi Y’all,
I don't know how about you guys but I'm really bored being quarantined in my flat. So I did the “Best” thing possible. I started to shop online. I had some bitcoins left so I decided to spend them as well.
And it turned out that was an adventure in itself.
So I compiled my favorite options of spending bitcoins in an article, which I managed to publish on Paybis.
In case you are interested, you can check it out here: https://paybis.com/blog/how-to-spend-bitcoin/
I’d like to turn this post the best one on the topic, so I’d appreciate some
recommendations as to what other spending methods I should add.
Thanks and see you around after this quarantine ends!
What can you buy with your bitcoin,I don't know how about you guys but I'm really bored being quarantined in my flat. So I did the “Best” thing possible. I started to shop online. I had some bitcoins left so I decided to spend them as well.
And it turned out that was an adventure in itself.
So I compiled my favorite options of spending bitcoins in an article, which I managed to publish on Paybis.
In case you are interested, you can check it out here: https://paybis.com/blog/how-to-spend-bitcoin/
I’d like to turn this post the best one on the topic, so I’d appreciate some
recommendations as to what other spending methods I should add.
Thanks and see you around after this quarantine ends!
Back in 2014, it was one of the first major tech firms to embrace bitcoin. From Windows licenses, games, applications, films, and Xbox goods, you can purchase something.
Back in 2014, Overstock partnered with Coinbase, which enabled bitcoin to become a form of payment on their platform. On Overstock, one can use bitcoin to buy something.
Cheap Air is an online flight booking company that currently allows users to use Bitcoin to buy flight tickets.
Back in 2014, TigerDirect was one of the first major online retail stores to begin to accept bitcoin as a payment method through BitPay. When using bitcoin on TigerDirect, there are no restrictions.
For some of their products, an online computer hardware marketplace that currently accepts bitcoins. However, there are certain limits to what you can spend Bitcoin on.
Using Gyft helps users to purchase and return gift cards using bitcoin. Such gift cards can be used on sites like Amazon that do not support Bitcoin, Nike, Best Buy, and a plethora of other stores.
Bitcoin is approved by a significant number of BMW dealerships as a legal payment method for buying a vehicle.
In 2015, via BitPay, Shopify allowed bitcoin payments for all clients. Using bitcoin, clients can purchase and sell their goods.
PayPal announced that in 2021, it would enable Cryptocurrency as a means of financing for transactions, enabling consumers to use their cryptocurrency holdings to make purchases of more than 26 million merchants on its network. When introduced in 2021, when a customer chooses cryptocurrency as the source of financing, the cryptocurrency will be converted to fiat currency immediately and the transaction will be resolved.