Bitcoin for Individuals - Bitcoin - Open source P2P money

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Bitcoin Forum - bitcoinforum.com

We are [Bitcoin Forum](https://bitcoinforum.com). Bitcoin is an open-source peer-to-peer digital currency project. P2P means that there is no central authority to issue new money or keep track of transactions.
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Bitcoin India

Discussions and news about Bitcoins in India
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What is Bitcoin money arduous fork ?

What is Bitcoin money arduous fork ? submitted by ososru to Bitcoin4free [link] [comments]

What is Bitcoin money arduous fork ?

What is Bitcoin money arduous fork ? submitted by Rufflenator to 3bitcoins [link] [comments]

this is what I have been working on for the past year as I learned to build apps: announcing MetaStore, a way for anyone to earn money by improving information about Bitcoin apps on the blockchain to create the richest, most powerful and up-to-date store of the many Bitcoin apps

submitted by zhell_ to bitcoincashSV [link] [comments]

One of the main take aways from the Social Dilemma is that if we can’t agree on what’s true, then we can’t navigate out of any of our problems... Fortunately, Bitcoin allows us to achieve truth in money.

US Politicians need to understand this before it’s too late. We need Bitcoin lobbying groups preaching this message non-stop at the State and Federal level.
submitted by the420chronicler to Bitcoin [link] [comments]

What today's landmark Federal Reserve speech means for money: As the dollar is devalued, Bitcoin will shine as a hedge against inflation and alternative reserve currency.

What today's landmark Federal Reserve speech means for money: As the dollar is devalued, Bitcoin will shine as a hedge against inflation and alternative reserve currency. submitted by heist95 to Bitcoin [link] [comments]

"We are going to talk about the early days of Bitcoin, what Roger saw, why he believes the legacy world of finance and money is flawed, etc. People may not like it, but Roger is probably one of the most important people in Bitcoin’s history."

submitted by Mr-Zwets to btc [link] [comments]

What Is Money? (x-post from /r/Bitcoin)

What Is Money? (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Is Twitter fucked? Major accounts all "hacked" this is a pretty serious national security issue. Bitcoin "scam" what is this shit, money laundering? There will probably be a lot of lawsuits & I wouldn't be surprised if the site gets shut down for good

submitted by boomerpro to conspiracy [link] [comments]

One of the main take aways from the Social Dilemma is that if we can’t agree on what’s true, then we can’t navigate out of any of our problems... Fortunately, Bitcoin allows us to achieve truth in money. (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

09-25 16:35 - 'What is fiat money? | ECOS BLOG' (mining.ecos.am) by /u/ECOS_am removed from /r/Bitcoin within 13-23min

What is fiat money? | ECOS BLOG
Go1dfish undelete link
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Author: ECOS_am
submitted by removalbot to removalbot [link] [comments]

Hey I was wanting to put roughly 30-70 pounds worth of bitcoin. Is it best I pay weekly to get an average.. what do you reckon is the best idea for putting money in? And how much per week/day etc..

submitted by Jackson-Gresham to Bitcoin [link] [comments]

Who is Obi? Why Coinfloor? What is Dollar Cost Averaging (DCA)? Why is Bitcoin, not Ethereum nor other shitcoins (including fiat), the soundest money? WTF is WeeWorld? [BITCOIN BASICS PODCAST]

Who is Obi? Why Coinfloor? What is Dollar Cost Averaging (DCA)? Why is Bitcoin, not Ethereum nor other shitcoins (including fiat), the soundest money? WTF is WeeWorld? [BITCOIN BASICS PODCAST] submitted by sexyama to bitcoinpodcast [link] [comments]

Who is Obi? Why Coinfloor? What is Dollar Cost Averaging (DCA)? Why is Bitcoin, not Ethereum nor other shitcoins (including fiat), the soundest money? WTF is WeeWorld? [BITCOIN BASICS PODCAST] (x-post from /r/Bitcoin)

Who is Obi? Why Coinfloor? What is Dollar Cost Averaging (DCA)? Why is Bitcoin, not Ethereum nor other shitcoins (including fiat), the soundest money? WTF is WeeWorld? [BITCOIN BASICS PODCAST] (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Who is Obi? Why Coinfloor? What is Dollar Cost Averaging (DCA)? Why is Bitcoin, not Ethereum nor other shitcoins (including fiat), the soundest money? WTF is WeeWorld? [BITCOIN BASICS PODCAST]

Who is Obi? Why Coinfloor? What is Dollar Cost Averaging (DCA)? Why is Bitcoin, not Ethereum nor other shitcoins (including fiat), the soundest money? WTF is WeeWorld? [BITCOIN BASICS PODCAST] submitted by CoinCompassBTC to Bitcoin [link] [comments]

‪Masters and Slaves of Money 💰 Wow! Very well written and good perspective. #Bitcoin is the world savior. Question: What roll do the “ALT” coins play? My opinion: Alt’s are pyramid schemes.

submitted by Shenron2020 to Bitcoin [link] [comments]

Bitcoin is a money identification system. What it does is identifies the money in circulation. This ability allows bitcoin to be the most sound and secure type of money on this planet. Blockchain technology which is what bitcoin is based on is so much more. (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

this is what I have been working on for the past year as I learned to build apps: announcing MetaStore, a way for anyone to earn money by improving information about Bitcoin apps on the blockchain to create the richest, most powerful and up-to-date store of the many Bitcoin apps

submitted by zhell_ to bitcoinsv [link] [comments]

Bitcoin is (the best) money for reasons different of what you think

Too much people have a bad understanding of money. We all know that here. But even in Bitcoin, we often read this :
"Bitcoin is money because it is store of value, medium of exchange and wil be unit of account thanks its fixed supply".
This is misleading, those are the functions of money, if a money furfils them well it is a good money but stuff can have these functions without being money.

So what money IS really ?

Simple: a money is a bank IOU. Money is created when a bank gives a loan. Against the IOU, the bank asks the borrower to give it an IOU for the same amount plus interest and Money is destroyed when the principal of the loan is redeem (the bank's IOU vanished, but borower's IOU interest are still there). When we talk about money, we are in fact talking about a banking system, nothing less, nothing more.

In the case of fiat money, the central bankers owns the banking systems. The "regulation" is the set of rules of issuance of fiat (the credit issuance work is made by the commercial banks). When the central bank says it wants X% of inflation it sets how well its money is unit of account. "Stabilize the prices", "avoid hyperinflation" truely means "maintain credibility of the banking system". That's why banks are always saved too, they are just the right arm of the central bank to issue credit, they are the money itself.
Precious metal like gold are popular as a good way to physically represent an IOU because scarcity and durability make them good collateral in case the bank who issues the IOU disappears but it is not money in itself (it also lacks the medium of exchange function because gold can be faked). Gold standard was just a way to issue IOU so that it furfills the store of value and unit of account function automatically and add medium of exchange function (it is easier to check a dollar is a a real one than gold) creating a very good money. This was the choice of the FED before 1971 (and the dollar becames the international money as it was the best money).
So a money is always issued by a banking system as it wish to issue it (meaning it determines who get the loans), a bank provides by its network (of ATMs, of payment processors, of credit agencies...) easy ways to exchange its IOU and backed the IOU to give them credibility. Before all banks were private but when the states started to have one, they centralized all the banking system around it and private banks were forced to issue IOU against state bank's IOU, giving birth to the central banking system and so fiat money (as money = banking system's IOU). State money don't need collateral because you need to pay taxes in state money: the collateral is that you can pay taxes and so not ending up in prison. State money is a violent but hidden freedom restriction.

So now, why Bitcoin is money ?

The Bitcoin's tokens are the IOU of a bank. Who is the central bank ? The Bitcoin protocol. Each node is a bank who applies strict rules of IOU issurance: loans are for miners, preferably the first ones as the supply schedule says. "Run a full node to be your own bank" is litteral, by validating Bitcoin's rules you are like a bank in the current banking system, except the central bank doesn't exist, it is just a protocol you follow with others. The only difference between Bitcoin and classical banking system is that the protocol doesn't ask an IOU to the miners in exchange for the newly created money to destroy it later, it is as if the miners made in fact a deposit of their computational work and the returned IOU value depends of supply schedule and difficulty.
Now, is Bitcoin a good money ? The answer is a bit subjective but mainly yes, it is certainly the best money if we look at how it has the three functions of the money (store of value, medium of exchange, unit of account). The IOU are valuable by the same principle of fiat money is valuable: you can use the Bitcoin ledger only if you pay at least the minimum relay fees... in bitcoins ! You also have to pay additionnal transaction fees but you can also pay them to a miner directly in something else but chance are low he found a block himself. Notice however that nothing force you to use the ledger so Bitcoin is peacefull contrary to state money. Bitcoin's IOU are extremly easy to exchange since if you don't find full node for that, you can just build one as soon as you have internet access ! So bitcoins are the absolute best medium of exchange. And finally, unit of account is more subjective but in expectation the best choice is indeed choosing a capped supply to get a form of price stability.

So there you have it: Bitcoin is money because it is a (peer-to-peer) banking system. It has the three functions of money. Bitcoin is valuable because you need to pay in Bitcoin's IOU to use its ledger (which is valuable for many applications because it is backed by miners' work). Bitcoin is the best medium of exchange because it is permissionless and decentralized: if there is no bank to process your payment, you can build one for you. And finally, the capped supply is the best way to have a unit of account function when you can't adjust the money supply to the economical context automatically.

That's why Bitcoin is the best money for me, if it is not the best it is at least a very good one (many are worse) moreover it is peaceful.


PS : what about shitcoins ? Well they have a value to use their ledger as Bitcoin, but that's all.
Bitcoin's rules take care of your ability to run a full node, not shitcoins, so they are not good medium of exchange (censorship possible). Shitcoins ledger are not as valuable as Bitcoin's one since it has less work. And finally many of them didn't choose a capped supply and the ones who premined or issue a big part of tokens to funders effectively give them the control of the issuance schedule of IOU, so a node is not a true bank: nothing to insure unit of account.

PPS : transaction fees have nothing to do with medium of exchange function. Minimum relay fees is the real taxe imposed to use the ledger and gives value to the token by opening access to the work of miners (it is a commitment to avoid spam). Transaction fees is something else, it is a way for the network to pay miners for their computational work with or without issuing more IOU's depending of the schedule. As miners will mine only if they earn enough money, and as the value of the money first came from this work in the ledger, a valuable Bitcoin-like cryptocurrency can stay valuable only if it has high enough transaction fees (newly issued IOU's included, they are the hidden inflation taxe imposed to all money users if high !). Those transaction fees depends of the congestion which happens when users use the network more than what allows it to stay in consensus, they naturally increase with usage of the ledger and will incitivise miners to mine more in the short term (this will be observed when transaction fees will represent most of the block reward). So the value of the Bitcoin's IOU will also comes from the value of what people can achieve with this ledger when block's subsidy will be lower after some halvings. It is true that transaction fees paid by users (and not issued) restrict the case where the ledger can be used. But the fact that it is used by very few people doesn't make it bad ! (particulary if you can transact IOU's with other networks without the ledger)
submitted by Pantamis to Bitcoin [link] [comments]

What is Yield Farming and How Can You Make Money With It? - Bitcoin Market Journal

What is Yield Farming and How Can You Make Money With It? - Bitcoin Market Journal submitted by pascalbernoulli to Yield_Farming [link] [comments]

What today's landmark Federal Reserve speech means for money: As the dollar is devalued, Bitcoin will shine as a hedge against inflation and alternative reserve currency. (x-post from /r/Bitcoin)

What today's landmark Federal Reserve speech means for money: As the dollar is devalued, Bitcoin will shine as a hedge against inflation and alternative reserve currency. (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

this is what I have been working on for the past year as I learned to build apps: announcing MetaStore, a way for anyone to earn money by improving information about Bitcoin apps on the blockchain to create the richest, most powerful and up-to-date store of the many Bitcoin apps

submitted by zhell_ to crypt0snews [link] [comments]

Ray Dalio will teach people that fiat money is a trash and that we should be looking for store of wealth type of assets. And then people will find what Bitcoin is ;)

Ray Dalio will teach people that fiat money is a trash and that we should be looking for store of wealth type of assets. And then people will find what Bitcoin is ;) submitted by xa_adam_ax to Bitcoin [link] [comments]

What is Bitcoin Mining? (In Plain English) - YouTube Bitcoin: What is it?  Money, banking and central banks ... What is Bitcoin Cash? - A Beginner’s Guide - YouTube What is Bitcoin? - YouTube What is Bitcoin? Bitcoin Explained Simply for Dummies ...

Bitcoin started a decent recovery wave above the $10,550 and $10,650 resistance levels. The price was able to clear the $10,750 resistance and settled ... Ethereum Transaction Fees Fall 82%, as Defi Hype Eases Security and control over your money. Bitcoin transactions are secured by military-grade cryptography. Nobody can take your money or make a payment on your behalf. So long as you take the required steps to protect your wallet, Bitcoin can give you control over your money and a strong level of protection against many types of fraud. Imagine if instead of having to buy Bitcoin, you could easily make money with Bitcoin. That’s exactly what you will learn in this guide.. Back in the day, people used to earn OVER 5 BTC with just 1 click in so-called “Bitcoin faucets”.. If you want to learn about Bitcoin faucets and 16 additional ways to earn Bitcoin, t hen you’re in the right place. Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. Bitcoin.org is a community funded project, donations are appreciated and used to improve the website.

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What is Bitcoin Mining? (In Plain English) - YouTube

Support our channel by using the Brave browser, browse up to 3 times faster, no ads, get rewarded for browsing: http://bit.ly/35vHo0M Bitcoin Cash was create... What is bitcoin? Created by Zulfikar Ramzan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/bitco... Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as th... Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin is the first decentralized digital currency. All Bitcoin transactions are docume... A quick guide on the Bitcoin blockchain and how to buy BTC with a wallet. How to mine cryptocurrency: https://www.youtube.com/watch?v=U9JIanRXsfU Coinbase: h...

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