Where and how do I convert bitcoin into real money ...
Where and how do I convert bitcoin into real money ...
Learn How To Convert Bitcoin To Cash Banks.com
7 Ways to Withdraw Bitcoin to Bank Account - Cryptalker
The Best Ways to Convert Bitcoin to Cash - Lifewire
How do I transfer my bitcoins into real money ...
Cryptocurrency meets Augmented Reality: "The Pokémon Go of Crypto"
Crypto Hunt: Augmented reality meets Cryptocurrency. Get moving, get rewarded. Crypto Hunt is both a cryptocurrency and a free location-based AR game available on iOS/Android currently in open Beta testing and available for pre-sale contributors. CH allows you to get on your feet and solve riddles, discover treasure, and earn CH tokens with Professor Crypto as your guide.
Good site to transfer Bitcoins to real money in PayPal?
Hey guys After I got my first Bitcoin payment, I wondered how to send the money that I have, to PayPal. (Since PayPal is the only wallet that I can use). Do you guys have some good sites, to send Bitcoins to PayPal, that not going to be a scam? -Thanks
In Nigeria, crypto is saving us from extractive Central Banking policies
I think most of you already know this, but Crypto has really been a life saver for Middle class Nigerians, especially us that have to deal with a central bank that has made sourcing dollars hard to find because Crude Oil has wrecked us and they refuse to open up the economy.. this Reuters article best explains it: " Odunjo sources handsets and accessories from China and the United Arab Emirates. His Chinese suppliers asked to be paid in the cryptocurrency, he said, for speed and convenience. The shift has boosted his profits, as he no longer has to buy dollars using the Nigerian naira or shell out fees to money-transfer firms. It is also one example of how, in Africa, bitcoin - the original and biggest cryptocurrency - is finding the practical use that it has largely failed to elsewhere. “Bitcoin helped to protect my business against the currency devaluation, and enabled me to grow at the same time,” Odunjo told Reuters from his two-by-eight metre shop. “You don’t have to pay charges, you don’t have to buy dollars,” the 30-year-old said, raising his voice above the sound of loud haggling and the honking horns of scooters. Odunjo is one of many people at the heart of a quiet bitcoin boom in Africa, driven by payments from small businesses as well as remittances sent home from migrant workers, according to data shared exclusively with Reuters and interviews with around 20 bitcoin users and five cryptocurrency exchanges. Monthly cryptocurrency transfers to and from Africa of under $10,000 - typically made by individuals and small businesses - jumped more than 55% in a year to reach $316 million in June, the data from U.S. blockchain research firm Chainalysis shows." https://www.reuters.com/article/us-crypto-currencies-africa-insight/how-bitcoin-met-the-real-world-in-africa-idUSKBN25Z0Q8 we save in tether and do business in bitcoin, Cuts of extractive policies that would have left us at the mercy of the central bank 10 years ago..
The greatest wealth transfer of this century! An analysis: British-US-Chinese Empires: Gold, Silver, Bitcoin, Ethereum!
"Inflation makes you pay 50 dollars for the 20 dollar haircut you used to get for 5 dollars when you had hair!" Let's embark on a journey that made the United States the number 1 economy of the world.
1. Despite the British Empire's claim that it would for ever remain the leading empire,history can serve as a harbinger for what's to come...
At the peak of its power, in 1913, "the empire on which the sun never sets", controlled 25% of the planet's land mass and about the same percentage of the world's population. Britain was both the naval an imperial power of the 19th century, and between 1812-1914, its dominance resulted in relative peace in Europe and the rest of the world. The industrial revolution transformed Britain into the workshop of the world. By the start of the 20th century things changed as both Germany and the United States started to challenge Britain's economic and influential leadership. As often happened during human history such challenging lead to war and although Britain achieved its largest territorial influence after WW1, the war had destroyed much of its economic strength, with losses in industrial and military power marking the begin of its demise. During WW2, Japan occupied Britain's colonies, and after WW2, India, Britain's most valuable and populous possession, achieved independence. Much of the British Empire's influence is now enshrined in the Commonwealth Charter, stating shared values like democracy, human rights and the rule of law. The United Kingdom's pound sterling was its world's reserve currency during its reign and by controlling the supply of money, Britain was able to influence its global power. "Permit me to issue and control the money of a nation, and I care not who makes its laws!"Mayer Amschel Rothschild
2. The US Empire repeats this blueprint by claiming the U.S. Dollar's reserve currency status as its birthright!
The Federal Reserve Act. The Panic of 1907 triggered many American's belief that The Federal Reserve Act, passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913, was necessary for financial and economic stability. The law created the Federal Reserve System, the central banking system of the United States. The Bretton Woods System. The FED ended immobile reserve issues and the inelastic currency problems and successfully internationalized the U.S Dollar as the global reserve currency. The usage of the prior nationally used U.S. Dollar expanded a first time when the Allies agreed to the terms of the Bretton Woods System, establishing the rules for commercial as well as financial regulations among the United States and its allies. Canada, Western Europe, Australia and Japan accepted the U.S. Dollar, which was backed by a gold exchange standard, making the U.S. Dollar "as good as gold". This was only possible because the United States controlled two thirds of the world's gold reserves. Soviet representatives, who claimed that institutions like the IMF and the International Bank for Reconstruction and Development (IBRD) were Wall Street branches, didn't participate in Bretton Woods and later proved to be right, as the United States printed too much money (not backed by its gold reserves) to wage war on Vietnam, destroying a big part of the value of the U.S. Dollars held by its allies, due to the inflation of the U.S. Dollar money supply. Yet, the initial demand for U.S. dollars created the American way of life: a consumer driven economy fueled by products made outside the U.S. in return for U.S. Dollars. As the Allied countries couldn't really buy any "Made in America"-products, due to the fact that the United States' elites rather outsourced their manufacturing, they instead invested their hard labor into U.S. Treasuries. On August 1971, President Richard Nixon announced the unilateral cancellation of the direct international convertibility of the United States dollar to gold, in a response to halt the Allied countries' continuous attempts to exchange their U.S. Dollars for Gold. By 1973, the Bretton Woods system was replaced by the current freely floating fiat currency system. The petro dollar system. The second wave of U.S. Dollar adoption was the result of the petro dollar, making the global trade of oil U.S. Dollar denominated. Every country on this planet needed and still needs oil to operate and grow its economy, creating an enormous growth in U.S. Dollar demand and like mentioned before, those dollars had to be earned. Especially China served the United States consumer model by producing almost everything Americans can buy in Wall Mart and other stores. By relying on the U.S. Dollar reserve currency status, the American elites have made the mistake of outsourcing manufacturing to China, as often predicted by Donald Trump in the 1980's. The y figured it was easier to just print wealth. The tradewar. President Donald Trump, decided it was time to bring jobs back to the U.S. and started an ongoing trade war with China, the country that supplied the U.S. consumer driven economy, and proud owner of $1.07 trillion in Treasury holdings. The trade war has negatively impacted the economies of both the United States and China and will most likely result in the decoupling of both economies. What is to come? My personal insights. I see huge problems for the U.S. and the rest of the western liberal democracies. But especially the United States, who's currency amounts to no less than 60% of all the world's reserve assets, is vulnerable if and when China who only accounts for 1 or 2 %, says it is time for change. Most likely we will experience another banking crisis, with or without Covid-19, and unfortunately a bigger one when compared to the 2008 dissaster. Did you know that the global debt tripled since then? Many economists and politicians advocate the end of the U.S. Dollar reserve currency system and predict a reset. Every financial system has a limited lifespan similar to a human live: it is created, it grows, it matures, and unfortunately, it ages, weakens and dies. It happened to the Brittish Pound Sterling, and I am afraid that the days of this financial hegemony are numbered as well. And I did write "afraid", why? History tells us that these transition periods are particularly dangerous and have often led to full-blown military conflicts if not world wars. The current wealth transfer, the result of manufacturing outsourcing to mainland China, impoverished the United States and destroyed its middle class. President Donald Trump's analysis that the U.S. needs a strong manufacturing base is correct, yet without its allies the United States will not be able to turn the tide. It took China decades to build its manufacturing base, and President Trump doesn't have the privilege of having the political luxury to design five year plans, as the United States capitalistic and political model specializes more on presidential campaigning and less on economic planning, which is exactly China's strength.
3. The Chinese 'digital' empire.
China is ideally positioned to become the new global power: it produces many of our products and dominates most supply chains. It has been hoarding gold and mines most of the Bitcoin. It might just have the right reserve assets to back its DCEP, the digital Yuan, which will be pilot tested during the 2022 Winter Olympics hosted by China. Despite the fact that the United States and other western nations might not want to adopt the Yuan or allow it to be part of the world's reserve assets, China can demand payment in Yuan for its products. It's that simple! This is why outsourcing is such as stupid economic voluntarily yet fatal policy. If you only print money and don't produce goods, how long will the world play ball? One of the results of Trump's trade war is that China and other countries such as Russia and Iran no longer want to be vulnerable to U.S. sanctions that come in the shape of being denied access to the financial system through Swift. The United States can indeed destroy a big part of Iran's economy, but Iran is now becoming a big cryptocurrency player. In other words, bullying those countries might work in the short-term, but in the long-term they will simply adopt a new standard: and I believe that the Yuan will likely play a major role in the financial system they will adopt. This trend means that the expansion of the demand in U.S. Dollars will stop and reverse, when countries no longer want to use the currency whose issuer can economically destroy them through sanctions. The alternatives for such countires are cryptocurrencies like Bitcoin, Ethereum and many others, national CBDC's (Central Bank Digital Currencies), and the adoption of the digital Yuan. This digital Yuan will be attached to the One Belt, One road initiative, finding adoption whilst developing huge infrastructure projects that will lead to a Eurasian trading zone. If the U.S. Military leaves the Middle East, as Trump brings home troops, this will create the right conditions for China to emerge as the victor.
4. Surveillance Capitalism - Insights on the DCEP (Digital Currency Electronic Payment, DC/EP):
This centralized digital financial system works on blockchain and cryptographic principles and aims to increase the circulation of the RMB, in the hope it can become a reserve currency like the U.S. Dollar.
Created and sanctioned by the Chinese Government, it is the only legal digital currency in China.
The system offers Chinese regulators better monitoring abilities and will be an efficient tool against anonymous counterfeiting, money laundering and illegal financing. At the same time it reduces costs involved in maintaining and recycling bank notes and coins.
As mentioned above, China aims to bypass Swift, which it regards to be a U.S. entity, and will be able to collect real-time data related to money creation, bookkeeping, essential information for the implementation of monetary policies.
The pilot institutions for DCEP, China Construction Bank, Agricultural Bank of China, Bank of China and Industrial and Commercial Bank of China, will serve as a production test for China's new currency system, after which the DCEP will be distributed to large fintech companies such as Tencent and Alibaba to be used in WeChat Pay and AliPay. Transfers will not go through bank accounts, but through electronic wallets.
By mandating that all merchants who accept digital payments must accept DCEP, the DECP will become the most accepted digital currency in the world.
5. Sings of hope.
If the United States adopts blockchain and issues a CBDC (Central Bank Digital Currency) backed by Bitcoin, they will have a reasonable chance to offer the western democracies a new type of dollar standard that can be an anchor versus the coming RMB. If not, I fear the worst is yet to come for the U.S. Dollar and its economy. Many smart American economists and Wall Street goeroe's have finally figured out the remarkable strength of Bitcoin, the world's first and most favorite digital form of gold. Some of the smartest investment capitalists like Ray Dalio and Warren Buffet have allocated more money into gold, a clear sign of trouble. Bitcoin might be a step too far for Warren Buffet, but rest assure that Wall Street investment management companies have figured it out by now, have you? You can expect more institutions to allocate a % of their portfolio's wealth into Bitcoin and other cryptocurrencies, as a hedge against the systemic risk in our global financial system, which will inevitable start feeling the effects of the trillions that have been printed. "Inflation makes you pay 50 dollars for the 20 dollar haircut you used to get for 5 dollars when you had hair!"
First of all, if you live on US or China this is probably not for you!
I am not affiliated to any bitcoin broker (or any financial company, actually) nor agent. I will explicitly show the names of those services to provide a real example so you could follow my exact steps. The goal of this post is to show you how you could reduce fee/taxes that you pay by recharging your agent balance using bitcoin (in the case this is new information for you). So, if saving money is something you like, keep reading. I’ll now compare two distinct recharge methods including the math behind each US dollar conversion rate, agent/payment processor fees and operational taxes. Let’s go:
USD Ptax 1.00 = BRL 5.254 USD 1.00 = CNY 6.501 (Cssbuy’s rate) BTC 1.00 = USD 10,974.90 (high volatility) USD Ptax is the dollar rate charged by Brazilian international credit cards. It’s slightly higher than mid-market.
First of all, you have to buy bitcoins. I’ve used a broker called BrasilBitcoin. The general requirements for a good broker are no deposit (on your local currency) or transfer fees. Here I’m talking about platform fees. All bitcoin transactions have a fee that’s paid to some agent in the blockchain network. Note that this fee is a fixed amount no matter the transfer amount. So, of course, high amounts are preferable. I’ve made a deposit on this broker of BRL 1,000. BRL 1,000 = BTC 0.01742291 At that time, the network fee was BTC 0.00017697. So, the value available for transfer was BTC 0.01724594. BTC 0.01724594 = USD 189.27 Cssbuy has a fee of 1% for bitcoin recharge operations. So, this USD 189.27, minus operational fee, becomes USD 187.37. USD 187.37 = CNY 1,218.15
This is, of course, the most straightforward and recommended payment method. I’ve been using it for some time and it’s just easy and works fine, but, unfortunately, it’s also really expensive. PayPal fee (using Cssbuy) is 3% of total value + USD 0.30. For instance, if you intend to recharge USD 10 the actual amount you’ll pay is 10.3 + 0.3 = 10.6. Banks, usually, charge an additional spread fee on the USD value. My bank sets a 4% fee. International payments in Brazil also have a tax called IOF and it’s 6.28% of the total amount in BRL. In order to have a final credit card charge of BRL 1,000, removing bank fees and taxes, the actual transactional amount was 1,000 * (1 - 0.0638) * 0.96 = 898.75. BRL 898.75 = USD 171.06 Removing PayPal charges, I ended up with (171.06 - 0.3) / 1.03 = 165.78. USD 165.78 = CNY 1,077.73
(PayPal) BRL 1,000 = CNY 1,077.73 (BTC) BRL 1,000 = CNY 1,218.15 As you can see, using bitcoin I had a 12% increase on the final balance on my agent. Also remember that bitcoin transactional fees are a fixed amount. So, the higher the recharge amount, the lower is the percentual fee, whereas the credit card fees/taxes are proportional to this recharge amount. I know that fees/taxes I pay for credit card usage in Brazil are different from other countries' but do the math and check whether this strategy is good for you. If you are interested in trying this kind of payment, I would recommend starting with the lowest recharge amount possible (USD 10) in order to do an end-to-end test. In the case everything goes right you do with your originally intended amount.
Cultural Exchange between /r/Lebanon and /r/berlin
Welcome to the Cultural Exchange between /Lebanon and /berlin/ Courtesy of our friends over at /berlin/ we are pleased to host our end of the cultural exchange between the two subreddits. The purpose of this event is to allow people from two different regions to get and share knowledge about their respective cultures, daily life, history and curiosities.
German friends will ask their questions about Lebanon on this thread itself.
English is generally recommended to be used to be used in both threads.
Event will be moderated, following the guidelines of Reddiquette and respective subreddit rules.
Quick introduction about Lebanon
Quick explanation of what is happening in Lebanon (Before the explosion): https://imgur.com/a/Ixo3v8S Introduction Lebanon is a tiny country in the middle east. It's bordered by Syria from the north and east, Israel from the south, and the Mediterranean Sea from the west. Syria has been in a deadly civil war since 2012. Lebanon and Israel are officially "at war" since the inception of Israel, though currently there isn't any war going on, and the last real war between the two countries happened in 2006 and lasted only 30 days. Lebanon went into a long and deadly civil war in the 70s and 80s. It only ended when the war lords sat together and decided that instead of attempting to kill each other, why not become rulers and split the gains. Thus from the early 90s until today Lebanon has been ruled by the same warlords that fought in the civil war. The speaker of the parliament never changed, not even once, and the rest of MPs and politicians just switched ministries and places every few years to present the image of democracy. Lebanon also has Hizbollah, an organization that is labeled as a terrorist organization by many countries. Hizbollah has more powerful intillegence and military than the Lebanese government itself. The organization has unobstructed powers, for example, it started the 2006 war with Israel without the acceptance of the official Lebanese government. Lebanese politicians save their billions and billions of dollars in savings in banks across Europe, mainly Switzerland. Lebanon doesn't have oil, nor a serious construction sector. Lebanon relies on the service sector and tourism to survive, both of which are almost nonexistent at this point. Lebanon has a huge crippling debt. Lebanon's capital, Beirut, was voted the most expensive city to live in in the middle east two years ago. Lebanon's passport is one of the worst passports in the world and doesn't allow you to visit any notable country without a visa. October 2019 - Political, COVID-19 and Economical Problems In October 2019, the government approved a law that would increase taxes, and tax the usage of Whatsapp. The Lebanese population attempted a peaceful revolution, the country effectively closed down from October until December. The revolution was successful in forcing the government to resign, but wasn't able to make the president, MPs or speaker of the parliament resign. Things went to shit after that, unofficial capital control started in October. The bank declared that people can't withdraw money from their savings or current accounts. People weren't allowed to transfer money outside Lebanon or use any credit or debit card internationally. The government started considering a haircut. The currency started to lose value rapidly. The official rate is currently 1$ = 1,515 LBP while the black market rate is 1$ = 8,500 LBP The money stuck in the bank is useless, almost frozen because it can't be withdrawn without losing ~65% of it's value and even then, in small quantities. Add to that COVID-19 is ripping the country. We're having exponential growth in the number of cases right now. The Explosion On August 4, 2020 multiple explosions occurred in Beirut Port that destroyed half the city, killed hundreds, with an additional large number of people missing, injured hundreds of thousands of people and made 300,000 people homeless. 80000 children displaced. The explosion was so big that it was heard and felt in Cyprus and Syria. There were reports of damages to properties from the explosions all over Lebanon, not just in Beirut. The explosion destroyed half of the city including busy hospitals, which ended up causing people to have to deliver or have critical operations using the flash light from the doctors' cellphones. The explosion killed several foreign nationals including French, German, Canadian, American, and Australian citizens. This post is made to raise awareness about what happened in Lebanon by sharing the videos of the incident. Please note that those videos are graphic as they show the moment the explosion happened. Donation Help Any kind of monetary donation will go a LONG way during these times. You can donate using your credit card, paypal account, bank transfer or bitcoin donation. You can find a list of verified and safe NGOs to donate to here: https://www.reddit.com/lebanon/comments/iaakslist_of_lebanese_ngos_that_are_verified_and_safe/ You can check out some of the videos here:
I feel like this outcome is quite inevitable. CBDCs being created will actually allow bitcoin to be used everywhere as payment by default.
It seems we are moving to a world where all central banks are going to issue a digital currency while banks implement digital wallets to custody them. In other words we will see central bank stable coins in every country soon enough. For people to be able to send these central bank stable coins between bank wallets in different countries (for example sending a USD CBDC to a bank wallet in Singapore) these CBDCs will all need to be built on a single global blockchain otherwise international money transfer will become impossible. All CBDCs of the world will need to speak the same language and be able to be transferred globally between wallets. One solution is the lightning network. Ive heard it stated that any crypto can become lightning compatible so whether you have a CBDC on bitcoin or eth or on a private chain or a side chain, if that chain supports lightning then you will be able to send to and receive from any other chain that supports lightning. Lightning essentially becomes this protocol that connects all chains. With that being the case it then becomes very easy to imagine a world where everyone can just accept lightning payments, choose which currency they want to receive, and then anyone will be able to send any crypto to them while they receive their desired currency, all transactions and required DEX conversions completed on the fly in real time over lightning. In this sense bitcoin will live alongside CBDCs and people all over the world will be free to choose which crypto they send receive and hold in real time. Imagine being able to travel anywhere and not have to worry about your finances. Wherever you go on earth everyone accepts lightning and no matter what currency you have its sent and converted into whatever currency they accept. The notion of currency will change, no one will say what forms of payment they accept or what currency they accept anymore, all people will need is lightning. That seems like an amazing future giving people complete freedom of currency choice while allowing frictionless global commerce. If central banks want CBDCs to work globally they will need to support lightning and supporting lightning allows bitcoin to live alongside CBDCs allowing bitcoin to be used everywhere CBDCs will be used. Finally bitcoin will be accepted everywhere by default.
Tonight I read this article and while it doesn’t get too deep into the technical weeds, I thought I could do better by breaking down some of the IT threats and concerns that keep me up at night into more of a non-tech person’s language while giving real world examples why this stuff really does matter to everyone, not just the uber nerds, naysayers, and tinfoil hat wearing conspiracy theorists. https://nakedsecurity.sophos.com/2020/09/18/a-real-life-maze-ransomware-attack-if-at-first-you-dont-succeed/ Security (both digital and physical) is something most people don’t understand and as a result they act like an ostrich by burying their head in the sand; if I can’t see it, it can’t see me. Until recently I was an IT consultant and would frequently bring this up to my clients. The usual reply I hear is along the lines of “but my company doesn’t have much money, isn’t a bank, doesn’t do anything interesting, etc. so they aren’t going to target me and I don’t have anything to worry about.” Sadly, this isn’t the case. These crooks “spray and pray” and will victimize anyone who gets caught in their snare. They will send out hundreds of millions of emails, compromise thousands of websites, and make tens of thousands of robocalls all with the expectation that they are only going to be able to victimize 0.0001% of their attempts. For years there have been two big threats in the IT world that literally keep me up at night; regulatory compliance and ransomware. There is now a third, extortionware. Regulatory compliance is an area business owners and executives commonly overlook because they don’t think it applies to their company because they’re not in health care or banking. PCI (Payment Card Industry), PII (Personal Identifiable Information), HIPAA (Health Insurance Portability and Accountability Act), and HITECH (Health Information Technology for Economic and Clinical Health Act) are the most common compliance standards and now cover just about every company in existence in the United States. If the company takes credit cards of any kind there are some levels of PCI compliance that they need to be adhered with. PII covers most HR information like social security numbers or driver license numbers. HIPAA and HITECH both cover information related to health records. This is one that most companies overlook because they don’t realize things like workmen’s compensation claims, HR records that discuss health related issues, etc. are all covered by these standards. Fines from the governing bodies that cover their respective compliance standards are usually preventable because they have general guidelines that cover what needs to be done to be in compliance on the logistical, physical, and digital fronts. If your company does anything with the European Union, then GDPR (General Data Protection Regulation) is a new regulation that has some pretty serious consequences if not followed properly. Ransomware is a genre of computer virus that is just evil. It encrypts your data and give you a very short period of time (typically only a couple days) to pay the ransom using untraceable funds transfers via cryptocurrencies like Bitcoin. If you don’t pay the ransom in time they will delete the decryption key thus destroying all your data. If you do pay the ransom then chances are you will get your data back however you are likely very literally funding terrorism and/or some other kind of organized crime. These ransoms are also meant to be payable but be painful to pay. The newer ransomware variants will scan your network to get an idea of how big it is then adjust the ransom accordingly; the more devices, the higher the ransom. Typical ransoms start around a few thousand dollars and work their way up hundreds of thousands or even millions of dollars. If you’re infected with these viruses then the best course of action to remove it is to wipe your entire network (all servers, workstations, firewall and switch configs, etc.) and rebuild it from scratch while restoring your important data from backups into a separate clean environment, scanning it for any traces of the virus, then moving it into the newly rebuilt network. While this is typically more expensive than paying the ransom it is the only way you can be sure the virus is no longer on your network and thus capable of infecting everything all over again and repeating the ransom process. Extortionware is similar to its older sibling ransomware in that the virus typically does all the same things however it adds an even more sinister twist, it copies your data offsite to a server only the criminals can access. They do this because of the increased number of companies that have opted to not pay the ransom and just rebuild their network. Using extortionware the criminals now have the company’s intellectual property (usually proprietary), HR data, internal memos, financial data, emails, etc.. Did someone say something unflattering about someone else in an email, did HR have a spreadsheet with every employee’s SSNs, hire dates, etc., or are there private financial records relating to an upcoming acquisition that your competitors shouldn’t know about? All of this and more will be used by the criminals to extort money from the company. This means that even if you have a rock solid backup of all your data, you still need to pay to prevent your data from being released to the public and/or press. While this post just scratches the surface, it does cover the highlights on why I push for stronger passwords (longer is better than higher complexity https://xkpasswd.net), keeping non-company owned and unmanaged devices off internal networks, multiple factor authentication on everything, never sharing your passwords with anyone, running regular security related exercises, using unique passwords on everything, and using a reputable password manager to keep track of all your passwords.
~ More companies follow in Microstrategy’s footsteps. Rumors of more corporate treasurers investing in BTC in boardrooms globally. A few listed large corporates announce accumulation of BTC after their buddies have all bought in (Board members, C-suite executives, family, and friends, etc.) ~ Money printing does not stop as the deflationary force of technology is too severe; the new US government formed after Biden’s win begins to adopt MMT as its primary guidance of future economic theory, led by Steph Kelton. ~ The holiday season and strong seasonality pump BTC back to $20k for the first time. Hard rejection and price fall back to $14k.
~ BTC finally breaks $20k after multiple retests of overhead resistance sometime in spring ~ Almost weekly we see another corporation announcing vested interest in BTC ~ No longer in doubt that the asset class is in a bull market. Macro funds pile in. By year-end, we’re at $55k. Newspaper reports Bitcoin has now broken the $1 trillion mark. Most institutions begin scrambling to understand the asset class and set up “Digital Asset Investment teams” ~ Retail money flows to altcoins; Bitcoin is becoming too expensive for “retail” investors. The bitcoin community discusses possibly denoting BTC as sats, but majority of exchanges not interested as they derive most income from alt flows. However, most Bitcoin-only platforms switch to sats as the primary display format led by bitcoiners who now have considerable wealth and influence ~ Increasing talk that some smaller nations are now discussing the prospect of including Bitcoin on their central bank balance sheet ~ The first BTC-denominated corporate bond is launched
~ Those in power have established full BTC positions, and we begin to see subtle clues that some countries are possibly accumulating BTC ~ Private banks selling BTC structured products now out in full force; custody solutions are now institutional-grade. 50% of the world’s banks have some product/solution tailored around bitcoin. The other 50% scramble. ~ Marks the top as BTC momentarily exceeds the most valuable company by market cap (~$2.5 trillion in 2022 @ $130K price). The final days of the frenzy are filled with rumors that central banks have accumulated 10% of global supply, and that it may even form part of the IMF’s global recognized reserve currencies. Crypto Twitter reaches peak “I told you so”
~ The next bear market isn’t as severe as the last few; as the digital asset teams of various institutions are accumulating up to 2-5% of their AuM. It’s now commonly accepted that this asset class is here to stay and that even deploying $10 billion is no longer an issue in an asset class worth an aggregate $5 trillion. ~ BTC finds a floor 60% lower at $50K as smart money accumulates. CT screams for a 80% correction because mUh bItCoIn cYcLeS aNd fRaCtAls ~ Investment banks now have full-fledged research teams dedicated to digital assets. Calls for 80% correction too, so the smart money front-runs. ~ The middle class latches on to the wholecoining meme. “1 Bitcoin to secure a retirement; stack those sats” ~ The wealthy who are now increasingly composed of inherited wealth begin selling real estate/equities/bonds for Bitcoin but holds their BTC with their private bank. Realizing that Bitcoin supply is truly limited and sensing the “1 bitcoin to retire” meme; and that not every millionaire can own 1 bitcoin, many of the rich/ultra-rich scramble to buy 5–100 BTC each if only to cement their status as rich. 5–100 BTC costs $500K-10M (at $100k per BTC) ~ The winning product of the year is an automatic savings plan in bitcoin.
~ Bitcoin is back to trading near its all-time highs of $130K after the 2024 halving cycle, however, the effect is marginal but the markets wrongly attribute it to the halving supply squeeze, building a false narrative for the next cycle in 2028. ~ Institutional money now in full-play; on hindsight we’ll realize the 10-year steady bull-run has actually begun since last year in 2023, similar to the gold bull run from 2000 to 2011 ~ More exchanges finally denominate BTC in sats. $100K BTC = 0.1 cent per sat. Logging into platform displays your stack as:
“11.7m satoshis ≈ $17,500”
~ Retail attempts to trade around the 2028 halving cycle. The halving cycle no longer have much of an impact, as demand now far outstrips supply changes ~ Many earlycoiners now sell between $200–400K, only to see it continue its relentless climb at a 30% annual rate ~ The first central bank announces the official addition to their balance sheets; all other central bank begins to FOMO. Cements BTC as a global reserve asset. ~ Governments ask that private ownership of bitcoin be transferred to regulated financial institutions such as their local bank where it will be held under custody. 70% of people do so.
~ Many of the early-coiners now buyback at near to $1M ($20 trillion market cap), finally equaling gold’s market cap at a price of $4000+ ~ Bitcoin peaks and meanders under $1M for the next decade ~ Volatility is now <10% per year, merchants begin adopting it en-masse as a medium of exchange
~ 5 years of price stability leads to some merchants re-pricing certain goods in sat-terms ~ The lightning network crosses a billion channels created ~ Fiat does not go away, but most G20 countries decide to ban bitcoin as a medium of exchange for economic transactions. Ownership of bitcoin as an asset is encouraged as a store of wealth; private ownership is frowned upon and in some cases made illegal.
How to sell xBricks for money (self post for mod approval)
Preface I've written this guide with those that are unfamiliar with crypto in mind, however it's still a lengthy process. I'm going to try to present this in a way where you don't have to learn how the underlying crypto technology works, but I will add in links to relevant concepts in case you're curious. This process was a lot more complicated before but I made a web interface to simplify it. At the time of writing this, FortniteBR BRICKs are worth 10 cents a piece. That makes 1000 bricks worth 100 bucks. The liquidity pool is about $14,000 at the time of writing, meaning that there's room in the market for you to hypothetically get $7,000 if you had a lot of BRICKs. If at any point throughout this process you need help, DM me! Misc. Resources That Might Be Helpful
A phone or phone emulator (so that you can run the reddit mobile app and collect your BRICKs)
Step 1: Setup On your desktop computer, install MetaMask. This is an Ethereum Wallet which will allow you to interact with the Ethereum Network and its many sidechains. More on this later. Follow the setup instructions in MetaMask. If you've never done this before, you'll need to create a new seed phrase. Video tutorial if you get stuck. YOUR SEED PHRASE IS THE KEY TO YOUR WALLET. ANYONE WHO HAS ACCESS TO YOUR SEED PHRASE CAN TAKE YOUR FUNDS. IF YOU LOSE YOUR SEED PHRASE YOU HAVE NO WAY TO RECOVER YOUR FUNDS. WRITE IT DOWN AND STORE IT IN A SAFE PLACE!!! NEVER GIVE IT OUT TO ANYONE -ANYONETHAT ASKS FOR YOUR SEED PHRASE IS TRYING TO SCAM YOU! DON'T FALL FOR IT! In the MetaMask interface, you'll see "Main Ethereum Network". This process uses two networks. One of them is the Rinkeby Testnet (where the BRICK tokens are natively) and one of them is the xDAI network which is where we will bridge the tokens to in order to exchange them for Dai, a token which is pegged to the price of the dollar. From the dropdown, select Rinkeby Testnet. If you're in the assets tab, you should see a thing that shows your ETH balance. Below this, you should see an "add token" button. Click it. Go to "Custom Token" at the top. In "token contract address," paste in the following: 0xe0d8d7b8273de14e628d2f2a4a10f719f898450a The other fields will autofill. Hit next. You'll now see your BRICK balance (which will be 0, you haven't transferred your bricks yet) in MetaMask if you've done everything right. You'll need Rinkeby Ether to cover transaction fees. Since we're on a testnet, the Ether is worthless which means people hand it out for free. You can get this Ether from a variety of places:
Anyone who has Rinkeby Ether to spare: Make a comment below so that those who need it can ask you. Thanks :)
Now it's time to get your BRICKs from your Reddit vault into your MetaMask wallet. WARNING: ALL CRYPTO TRANSACTIONS ARE IRREVERSIBLE. Your Ethereum address shows up under Rinkeby. It should be "0x" followed by a bunch of hex characters. Click on it to copy it to your clipboard. You now need to somehow get this to your mobile device. Email it to yourself, text it to yourself, whatever. On your Reddit mobile app home screen, click on your profile icon and then go to vault. You'll need to set this up and claim your tokens if you haven't already. Be aware that this is also technically an Ethereum wallet. Keep your seed phrase safe. Send however many BRICKs you want to sell to your MetaMask wallet. Check to make sure the addresses are the same, but don't worry too much about making a typo or whatever. The chances that you'd make a typo that would result in a valid Ethereum address are slim, if you get a character wrong it'll just tell you it's not a real Ethereum address and prevent you from sending. It may show an error when you try to send. This is somewhat rare but pretty normal. They often run out of testnet Ether. Come back later and try again. If it works properly, it'll take about a minute to go through. It may take longer than that. Once the transaction goes through, you'll see that you have an absurd amount of BRICKs in MetaMask. No, there wasn't a glitch. The people who wrote the code for BRICKs made the decimals of precision weird for some reason. It's off by a factor of 1018. This isn't a big deal. If you see Bricks and Ether (ETH) in your MetaMask wallet, proceed to the next step. If you're having issues, feel free to DM me. Step 2: Getting Your BRICKs from Rinkeby to xDai There's a LOT going on under the hood for this part (deets for those interested). Previously this required manually generating contract interactions, which is kind of a pain if you're new to Ethereum. I made a UI to make this easier (it generates the transactions for you, all you have to do is sign them with your wallet). This took way longer to do than you might guess, so feel free to help a homie out at: 0x4BCcC2569DD93C7dF43431A7b70db569dedB6187 Go to my tool. Hit connect. If you're on the Rinkeby network, it should show your balance in BRICKs. Enter the amount you want to bridge (probably all of them). If neither of us have made any mistakes, it should pop up with a request to spend your BRICKs. If there's any issue with this tool, DM me. This allows the TokenBridge contract to take your BRICKs and put them on the xDai network where you can sell them. This is the part where you'll get an error if you don't have any testnet ETH. Set the gas price to 1 (the suggested price is based on the Main Ethereum Network - it's way too high). After you approve that, it'll give you another thing to accept. This is the actual transaction where it'll bridge to xDai. Again, make sure the gas price is set to 1 and confirm the transaction. Add xDai to MetaMask Switch to the xDai network. We're going to add another token. Again, go to "add token" > "custom token" > "token contract address". Paste in: 0x2f9ceBf5De3bc25E0643D0E66134E5bf5c48e191 If the transactions have gone through, you should see your xBricks (the name for BRICKs that have been bridged to xDai) in MetaMask. If not, wait a bit for the transactions to go through. Sometimes there are slowdowns that cause bridging to take a while. Shouldn't take too long, though. Once that's done, you're ready for the next step. Step 3: Trading Your xBricks for xDai Go to Honeyswap. Hit "select a token." You'll need to paste in the xBrick address again. Here it is: 0x2f9ceBf5De3bc25E0643D0E66134E5bf5c48e191 Click xBrick. You'll need to flipflop the trade around by hitting the arrow button. xBrick should be on top. Type in the amount of xBricks you want to sell, or hit max to sell all of them. 1 xDai = $1. You'll need to hit approve first. Set gas price to 1 again. Then you can complete the trade by hitting swap. After a bit, the xDai should show up in your wallet. Step 4: Mainnet Everything on Mainnet costs actual money to do. It costs about 50 cents to make a transaction and it costs about 3 bucks to use an exchange like the one we just used. If you don't have mainnet Ether, you won't be able to do anything with your mainnet Dai (what xDai is called when it's bridged back to the main Ethereum network). You may be able to find someone to lend you some ETH to make these transactions with. Whatever you do, just be aware. If you still want to bridge your xDai into Dai, go here and make sure xDai is on the left. If it's not, go in the top right and select xDai chain. Enter the amount of xDai you want to bridge to mainnet and then hit transfer. Follow the prompts. This part may take up to an hour due to recent network congestion. After it's done, if you go back to Main Ethereum Network in MetaMask you should see your Dai. If you have a few bucks of ETH, you can use UniSwap to convert your Dai to even more ETH. Uniswap tutorial Things you can do with ETH
Problems with scoine.com, share coin ltd. Some help from experienced bitcoiners would be nice
Hello, A friend of mine worked for a company and they wanted her to Open a wallet at scoine.com. The identification process took a very long time and she had to send real money to prove she is legit. The other company transferred her the money to the wallet. Now she wanted to withdraw or Transfer the money but they told her due to server errors a withdraw/transfer is only possible from 0.9 bitcoin upwards. This sounds really scatchy to me. Furthermore a few days later she got. an email stating the company went bancrupt and she needs to withdraw or Transfer her money. But she can‘t withdraw her money because she has less than 0,9 bitcoin in the wallet. The only Option Would be to fill it up to 0.9. To me this seems pretty stupid because i think Even with 0.9 bitcoin they won‘t let her withdraw of transfer the money. Any Opinions are help, how to deal with the Situation would be nice. Thanks in advance
George sees that David is selling 1 bitcoin at a good price, and he also accepts bank transfer as a payment option. George sends his request for 1 bitcoin to David, and David accepts. David puts his 1 Bitcoin into the escrow. This holds the bitcoin until George transfers the money to David. Bitcoin is the most recently way of sending and receive money. It is universal in nature because it can be accessed by anybody in the world. “decentralized digital currencies, for example, bitcoin now give an outlet to individual riches that is past limitation and reallocation”. Transfer of Bitcoins to Bank Account: Uphold is a financial services platform based on the cloud, which can be accessed from 184 countries and gives the possibility to exchange with more than 30 currencies, fiduciary, cryptographic or precious metals.. Uphold Services. Add funds to a portfolio through a transfer, debit card or bitcoin wallet. Save funds securely (protected by reservations all around the world) 2017 may have been the year of the crypto investor, and returns were beyond heady. But it's 2018 now, and interest in crypto remains high. It may even be more mainstream now than it was last year. Transfer your bitcoins to another digital wallet. Some bitcoin conversion services allow you to convert your bitcoins to dollars by transferring them to PayPal, Apple Pay, or similar services. If this is the way you want to convert your bitcoins to dollars, set your payout method to the digital wallet you want to use.
Transfer Bitcoin from one wallet to another - Beginners ...
Excited to go shopping with your hard earned Bitcoins but don't know how to cash them out? Today, Maria will show you the many different ways to cash out Bit... In this video, I will show you how to transfer bitcoin to PayPal instantly with no fee. - [ ] Visit https://instantexchange.net/ and create an account - [ ] ... Whether you are trading, or transferring your crypto to another wallet, you need to transfer the coins correctly, or risk losing it ALL. Follow these simple ... Want to make money online? Join here - https://www.beermoneyforum.com/ Exchange Bitcoin to Bank Account How to transfer Bitcoin to Bank Account Quick Video on converting my Australian Currency into BTC inside my BTC wallet. This will make it ready to purchase USI-Tech packages in a later video.