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Showing 10 of 10 results by odiNzBitcoin
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Board Bitcoin Discussion
Re: Bitcoin is the next big revolution in the world !!!
by
odiNzBitcoin
on 27/07/2023, 06:36:16 UTC
Bitcoin and its public ledger create a third revolution for accounting. The first article shows how the accounting industry has been developed from Single counting to Double counting and with Bitcoin & blockchain and its public ledger, we will have Triple counting. That is a biggest revolution in accounting after many decades.

An accounting revolution
The bullish case for Bitcoin



Indeed, Bitcoin's public ledger and blockchain technology introduce a monumental revolution in accounting. With Single counting, Double counting,
 and now Triple counting through blockchain's transparent and immutable records, the accounting industry undergoes a profound transformation.
 This innovation holds the potential to reshape financial systems and bring unparalleled trust,
 security, and efficiency to accounting processes.
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Topic
Board Bitcoin Discussion
Re: Bitcoin is the next big revolution in the world !!!
by
odiNzBitcoin
on 26/07/2023, 19:11:07 UTC
The main reason why businesses and large corporate companies have not accepted Bitcoin, has to do with government regulations. A business cannot accept Bitcoin as "legal tender"... if their local government have not approved it.

So, this is the barrier that are placed by governments to protect their local currencies. The reason why they are protecting their local currencies are simple, because they have full control over it. (How much is printed... who owns it.... how much they own... how they spend it... etc..)  Angry



Government regulations prevent businesses from accepting Bitcoin as legal tender, primarily because they aim to safeguard their local currencies. Governments exert control over their currencies, including issuance, ownership, and spending, ensuring stability and economic control.
Accepting decentralized cryptocurrencies like Bitcoin challenges this authority, as they lack government backing and oversight. Consequently, until governments approve and regulate cryptocurrencies, businesses are reluctant to adopt them as widely accepted forms of payment.
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Topic
Board Bitcoin Discussion
Re: Bitcoin is the next big revolution in the world !!!
by
odiNzBitcoin
on 26/07/2023, 17:44:06 UTC
The growth and development of bitcoin something unimaginable in the world. Bitcoin right now is on it growth level and have not enter ful the developmental stage of the coin. It is after this stage and when 40% of the countries have adopted the new technology then bitcoin will start it developmental process but as of now it is still on the growth level. All those mega companies mentioned by the op will definitely accept bitcoin, mostly Microsoft.


Bitcoin's growth has been remarkable, but it has not yet reached its full potential. Once 40% of countries adopt it, the developmental process will begin. Major companies like Microsoft are likely to accept Bitcoin. Exciting times ahead!
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Board Bitcoin Discussion
Topic OP
Bitcoin is the next big revolution in the world !!!
by
odiNzBitcoin
on 23/07/2023, 20:17:46 UTC
As of the latest data, approximately 4.2% of the global population is familiar with Bitcoin. However, with notable companies such as Tesla endorsing cryptocurrencies, the landscape is evolving rapidly.

Should tech giants like Apple, Metaverse, and Microsoft embrace crypto, the potential for Bitcoin's value surge becomes unprecedented. Imagining the impact when influential figures from these firms discuss crypto is awe-inspiring. Now is an opportune time to explore and capitalize on Satoshi accumulation. May your endeavors be met with success as you venture into this innovative realm.

Wishing you the best of luck in your crypto journey!  BTC
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Topic
Board Mining
Re: What will happen All bitcoin will be mined by the year 2140 ?
by
odiNzBitcoin
on 23/07/2023, 19:42:35 UTC
With the conclusion of Bitcoin mining in 2140, miners will rely solely on transaction fees to sustain their operations ?
Currently, miners get the block rewards and the transaction fees. The block reward is halved every 210,000 blocks and will decrease to zero when we reach the block number 6,930,000. In that time, there will be no block reward and miners will only get the tranaction fees.
It may worth mentioning that the block reward decreasing to zero in 2140 is only an estimation. The exact time may be in another year.

Thank you for providing these details. It is indeed accurate that currently, miners in certain blockchain systems receive both block rewards and transaction fees for their efforts in validating and adding new blocks to the blockchain. The block reward is typically halved at regular intervals to control the rate of coin issuance and is expected to eventually reach zero in the future.

It's important to note that the exact timing of the block reward reaching zero is subject to the specific blockchain's protocol and can vary based on factors such as block time and mining difficulty adjustments. While the estimation of this event occurring around the year 2140 is a commonly accepted prediction, it is crucial to acknowledge that changes in the network or mining dynamics may influence this timeline.
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Board Mining
Topic OP
What will happen All bitcoin will be mined by the year 2140 ?
by
odiNzBitcoin
on 23/07/2023, 10:56:02 UTC
In the year 2140, a monumental event is set to unfold in the world of cryptocurrencies: the completion of Bitcoin mining. As the last of the 21 million Bitcoins is mined, the digital landscape will witness a paradigm shift. With no new supply, scarcity will drive demand, potentially skyrocketing the value of existing Bitcoins. This landmark moment will reshape the financial ecosystem, leading to new investment strategies and economic models. Brace yourself for the remarkable transformation of the cryptocurrency realm as we know it.

With the conclusion of Bitcoin mining in 2140, miners will rely solely on transaction fees to sustain their operations ?
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Topic
Board Bitcoin Discussion
Topic OP
Institutional Adoption and Price Outlook!
by
odiNzBitcoin
on 23/07/2023, 05:58:23 UTC
As institutional interest in Bitcoin reaches unprecedented levels, the cryptocurrency's price outlook is generating considerable speculation. The entry of major corporations, hedge funds, and institutional investors has fueled optimism among Bitcoin enthusiasts.

Their participation brings increased liquidity and market stability, potentially paving the way for a more sustainable growth trajectory. However, challenges such as regulatory developments and market volatility warrant cautious monitoring. The future of Bitcoin's price remains uncertain but is undeniably intertwined with the ongoing institutional adoption trends. As of 2023, with 4.2% global crypto ownership and 420 million users, the future of cryptocurrency adoption appears promising
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Topic
Board Bitcoin Discussion
Re: Which cryptocurrency comes close to bitcoin?
by
odiNzBitcoin
on 22/07/2023, 02:55:32 UTC
Bitcoin stands unrivaled in its essence and potential impact on humanity, both today and tomorrow,
As the most groundbreaking monetary innovation of our era, it offers unparalleled opportunities. While some may profit from alternative coins, none can match the comprehensive value that Bitcoin delivers.
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Topic
Board Altcoin Discussion
Re: look, look, what's this
by
odiNzBitcoin
on 20/07/2023, 17:36:18 UTC
How can digital currencies be traded offline? Can you explain the idea?

Digital currencies can be traded offline through physical transactions facilitated by hardware devices, like USB sticks, containing the digital currency information. These devices allow users to exchange cryptocurrency without an internet connection.

However, this approach is not very successful due to limitations such as lack of real-time price updates, security risks, and inconvenience in conducting transactions without the internet's efficiency and speed. Online platforms have emerged as the dominant and more effective means of trading digital currencies.
Post
Topic
Board Altcoin Discussion
Re: look, look, what's this
by
odiNzBitcoin
on 20/07/2023, 17:18:35 UTC
Digital currencies can be traded offline through physical transactions facilitated by hardware devices, like USB sticks, containing the digital currency information. These devices allow users to exchange cryptocurrency without an internet connection.

However, this approach is not very successful due to limitations such as lack of real-time price updates, security risks, and inconvenience in conducting transactions without the internet's efficiency and speed. Online platforms have emerged as the dominant and more effective means of trading digital currencies.