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.
Bitcoin Cash (BCH) brings sound money to the world. Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. All Bitcoin holders as of block 478558 are now owners of Bitcoin Cash. All Bitcoiners are welcome to join the Bitcoin Cash community as we move forward in creating sound money accessible to the whole world.
In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee. There is no central entity, just individuals building an economy. A ponzi scheme is a zero sum game. Early adopters can only profit at the expense of late adopters. Bitcoin has possible win-win outcomes. Early adopters profit from the rise in value. Late adopters, and indeed, society as a whole, benefit from the usefulness of a stable, fast, inexpensive, and widely accepted p2p currency.
My experience of BTC recently is not fast or inexpensive. 4 days ago I took advantage of the mempool dip to sweep my last BTC wallet (a brainwallet I had set up for my kids, which I've been reluctant to touch). I way over estimated the fee at 100 sats/byte, just to be sure it would be fast. Of course the mempool exploded again and I've now spent over 100 usd in additional miner bribes (in BCH of course) to get it to confirm, so that I can take advantage of the BCH/BTC dip. This wiki was my first insight into buying bitcoin. I did a lot of research and found that it was completely factual and until 1st Aug 2017 it was a great resource. It is way past time they corrected it by adding a simple word: 'cash'. This would make it accurate again.
[Hiring] $50 paid in BTC for wikipedia.org/wiki/Bitcoin modification
I will pay $50 USD (paid in bitcoin) for having the Wikipedia page on bitcoin (https://en.wikipedia.org/wiki/Bitcoin) have the following modification added after the first paragraph: "Instead of storing actual coins, a distributed public database keeps a record of all timestamped and confirmed transactions between bitcoin addresses. For the transactions to enter this public ledger the signed transactions need to be broadcasted, validated and accepted by the bitcoin network, to avoid any incongruence and double spending. Bitcoins only exist as balances associated with bitcoin addresses as a result of previous transactions in the sense that you can trace the chain of valid transactions until you reach a special transaction called "coinbase", i.e. some minted bitcoins that enter circulation as scheduled. To allow value to be split and combined, transactions contain multiple inputs and outputs. The output values of previous transactions will be referenced as input values of future ones. Previous transaction outputs are referenced as new transaction inputs and transactions simply allocate funds to a new owner that can then spend them in a new transaction." [This is the first paragraph] Bitcoin is a worldwide cryptocurrency and digital payment system:3 called the first decentralized digital currency, as the system works without a central repository or single administrator.:1 It was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary.:4 These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.
[new paragraph inserted here] "(...)"]<<<
[keep all the rest after it] Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. (...)
How is it that https://en.wikipedia.org/wiki/Mobile_commerce and https://en.wikipedia.org/wiki/Mobile_payment and https://en.wikipedia.org/wiki/Social_peer-to-peer_processes don't even mention cryptocurrency - let alone Bitcoin (Cash)? /r/btc
Vitalik: Your wiki page says you co-founded Bitcoin Magazine. I was surprised to read that because in 2012 Bitcoin Magazine was spearheaded on bitcointalk by Matthew N Wright - a known scammer/troll. /r/btc
I have read the appropriate wiki pages, learned the fundamentals, and have purchased a decent ($500 USD) amount of bitcoin cash and deposited in my online wallet. Now my only question is do you personally think it's worth me continuing to take small amounts of money each month and investi /r/btc
From the /r/btc wiki: "Bitcoin is immune to seizure: Nobody can steal or confiscate your bitcoin since you own it; it's not housed at any bank or company."
This language doesn't make sense to me. "Nobody can steal your bitcoin since you own it..." Not true. I own my TV and my watch and my car, but those can all be stolen. How is Bitcoin any different? If a thief knows where to look, he can find my keys, or force me to give them up. There's no difference between someone holding a gun to my head demanding my wallet and demanding my bitcoin keys. Although, it does seem a lot more difficult.
The current state of Bitcoin: Anywhere that can be sybilled or censored, is being sybilled or censored. This includes Twitter, YouTube comments, Bitcointalk, Reddit, Bitcoin.wiki, Bitcoin dev list, Bitcoin.org, Coindesk, etc. /r/btc
[uncensored-r/Bitcoin] This pretty much sums it up... How the US govt drove wiki leaks to invest in BTC early on
The following post by abhi3188 is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/76dva1 The original post's content was as follows:
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. Währungscode . Der ISO 4217-Währungscode für Bitcoin ist XBT. Im Moment ist es jedoch ein inoffizieller Code gemäß der Norm ISO 4217. Der Einheitenname BTC wird üblicherweise auch für ein Bitcoin verwendet, verstößt jedoch gegen ISO 4217, da er mit "BT", dem Ländercode von Bhutan, beginnt. At the current moment an average transaction amounts to roughly 500 bytes which corresponds to a commission of 0.0001 BTC. Users can decide to pay a predefined fee rate by setting `-paytxfee=<n>;`(or `settxfee <n>` rpc during runtime). A value of `n=0` signals Bitcoin Core to use floating fees. By default, Bitcoin Core will use floating fees. HitBTC is a leading European bitcoin exchange which provides cryptocurrency trading services to institutionals, merchants and individual traders worldwide. The trading platform was founded in late 2013 and is under operation of Ullus Corporation. ... (BTC, LTC, DOGE, QCN, NXT, FCN, BCN, and XMR) and prevailing fiat currencies (EUR, USD). For ... Bitcoin transactions are prioritized on the network by fee. Story and history Bitcoin is created on January 3, 2009 by Satoshi Nakamoto. The real name of Satoshi Nakamoto is unknown. Hard forked into Bitcoin Cash (BCH) and Bitcoin Segwit (which is the current original Bitcoin BTC) on August 1st, 2017, mainly due to the 1MB block size limit.
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