The Bitcoin halving 2020 just happened: Here’s what you ...
The Bitcoin halving 2020 just happened: Here’s what you ...
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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.
So, what happened? The graph above shows the value of bitcoin in US dollars. I add gold to the chart just to give a reference point of what a stable measure of money might look like. The first data callout shows the price of bitcoin at the time Dave wrote his article, the second callout shows the price as of this past Thursday. Considering how much has happened to bitcoin in just a decade, hard forks, new protocols, new methods of recording and processing transactions, and any number of other factors, may impact the ... The significant move happened Sunday when Bitcoin finally breached past the $10,000 psychological resistance. The price appreciation came after five days of price increase in Ethereum and other ... Although Bitcoin became known around the world a couple of years ago, there’s a rich history behind this cryptocurrency. Let’s track the long way it traveled, and analyze what may happen to Bitcoin next. 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.
#Bitcoin halving skeptics call for major post-halving crash! $BTC Fear & Greed Index over 56 first time since major 65% crash! $USDT manipulation? Is now the... The Bitcoin Halving 2020 happened excactly 126 days ago. What happend since then with the Bitcoin price, the Bitcoin hashrate and other metrics? Most of the ... WOW!!! Bitcoin and Altcoins just DUMPED!!! But here is what YOU have to see right now about Bitcoin and Altcoin prices!!! 💭FREE SECRET Telegram w. DavinciJ15... Squarespace link: Visit http://squarespace.com/techquickie and use offer code TECHQUICKIE to save 10% off your first order. Why did Bitcoin's value crash aft... What will bitcoin and the other cryptocurrencies do in 2019? Will bitcoin start heading up, or will the price continue to fall? My popular courses: Learn web development fast: https://shop ...