First Mover: Bitcoin Shows Signs of Life but Ether (and
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.
[Tenant - NY] Qualifying for rent based on Bitcoin assets
I was an early adopter of Bitcoin and my small initial investment has luckily appreciated to the point where I no longer need to work. I'm trying to move to a high-end rental property owned by a mom & pop landlord with a few properties around town. Of course because of the price tag, especially during the current environment, they're very strict about making sure potential tenants are able to afford the rent. No problem there. My crypto holdings could easily cover the lease for several decades. Normally I suppose it's quite rare for rental tenants to have large asset holdings. So, already this is kind of an unusual situation, as they're more geared for verifying income. But the good news is they do have a procedure for qualifying tenants based on assets. I'm not sure if they've used it before... But anyway it requires that tenants have 40 times the monthly rent in liquid assets. No problem, I've got *way* more than that. They say all they require is seeing three months of financial statements. Uhh... The whole point of Bitcoin is that it isn't centralized inside a financial institution. I tried to explain, over the phone to the nice older lady landlord, how the blockchain works, and the basics of public-private encryption. I explained how it's actually very easy to prove ownership of my Bitcoin holdings. All I have to do is give her the address of my holdings, and prove ownership by signing a message with the corresponding ECDSA private keys. At that point all she has to do is check the latest mined block to verify that it contains enough BTC to satisfy her requirements. I don't see what the problem is here. Unlike sending copies of bank statements, which could easily be forged, this method is *far* more reliable and is literally cryptographically secure. She's acting like I'm some sort of lunatic, when she implicitly trusts the same crypto algorithms 100 times a day in her online banking, shopping and messages. Anyway, has anyone else been in this position? Either from the tenant or landlord side? I understand cryptocurrency is new technology, but by now surely people must realize Bitcoin isn't some made up fairy dust. I could just move on to a different property, but feel like I'd end up hitting the same wall. Any suggestions for proving to landlords that I'm quite far from a financial risk?
Hello Bitcoin We've ramped up the profile pages for all of the top crypto assets https://messari.io/asset/bitcoin/profile Each profile is loaded with a ton of new information from project history, investors, advisors, regulatory information, contributors, roadmap and a whole bunch more. Our analysts put together a concise overview of Bitcoin governance, among other things:
Model Overview Bitcoin governance is the process by which protocol rules are decided upon, implemented, and enforced. Users (full nodes) adopt new rules according to their subjective views on what Bitcoin is and should be. If two or more individuals adopt the same set of rules, they form an inter-subjective social consensus of what “Bitcoin” is. It is in this respect that many conceptualize Bitcoin as being set by a social contract. Every time rule changes are contemplated, the rules of the contract are decided and renegotiated continuously between stakeholders. Protocol changes are legitimized when users agree to adopt the new changes. Once adopted, the Bitcoin protocol automates the enforcement of the social contract. Process Overview Protocol development is governed by a proposal process whereby anyone in the open source Bitcoin community can submit Bitcoin Improvement Proposals ("BIPs"). After debate by the community, when consensus has emerged, the Bitcoin Core maintainers merge code changes into Bitcoin Core's GitHub Repository. Once new code has been implemented into the Bitcoin Core specification, users of the network (full nodes) must be persuaded to adopt the new changes. Protocol changes are “ratified” on-chain when the majority of the network adopts the upgrade and doesn’t break consensus. Once rules are adopted on-chain, all new transactions and block proposals are subject to the agreed upon rules. Full nodes only accept new transactions and block proposals that are valid according to the rules of the Bitcoin protocol. Anything that is not valid will be rejected. Thus, miners must implement the prevailing rules of the network in order to participate in the block creation process. User Activated Hard Fork 2017's User Activated Soft Fork Event provided an illustrative case study on Bitcoin governance in practice. As early as 2010, shortly after Satoshi implemented a block limit into Bitcoin, discussions around block size began. These discussions largely stayed in the background until 2017 when tensions within the Bitcoin community rose over rising transaction fees and increasingly divergent opinions on scaling Bitcoin. In May 2017, a meeting between miners, businesses, investors, and core developers took place at the Consensus conference in New York, in what is now referred to as the "New York Agreement". The product of this meeting was an agreement to support SegWit (a soft fork) and a 2MB block size (hard fork). Known as SegWit2x, this proposal was backed by over 80% of the network’s hash rate. However, despite the desires of miners, users wanted to activate SegWit without the block size increase. This plan was proposed as BIP 148, a Bitcoin Improvement Proposal, from a pseudonymous developer named Shaolinfry. Soon after, users set a date (August 1, 2017) where Bitcoin would soft fork to support SegWit and keep the 1MB block size. Eventually, enough nodes signaled support for it, forcing miners to accept or have their blocks rejected by the network. Many see this user-activated soft fork (UASF) as a pivotal moment in Bitcoin’s history. The philosophy underpinning the event was that users controlled the network, not miners. The event not only illustrated the balance of power within Bitcoin's network, but also calmed suspicions that parties such as miners, businesses, or Bitcoin Core developers, controlled Bitcoin. Learn More: Bitcoin GovernanceUnpacking Bitcoin's Social ContractWho Controls Bitcoin Core?Bitcoin Miners Beware: Invalid Blocks Need Not Apply
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How to deal with the bitcoin's asset value once there are less mining rewards
As bitcoin already ten years old today, even it's in the bear market at the moment (or maybe longer), people still have faith in its value. But how to deal with it while there are less and less new coins there?
Decentralized finance (DeFi) crypto assets will continue to outpace the broader crypto market, according to crypto analyst Luke Martin. The popular trader and head of Venture Coinist says he believes the emerging class of altcoins are just getting started, and mainstream investors remain unaware of the DeFi movement. Bitcoin And Other ‘Crypto Assets’ Excluded From Central Bank Experiments Neither blockchain—the shared ledger that lets bitcoin exist—nor the more sanitized word to describe the larger U.S. banks can now hold cryptographic keys, meaning they can store Bitcoin, Ethereum, and other digital assets. Analysts say that this move is extremely positive for this space. One commentator says that a move by U.S. banks to hedge and invest in Bitcoin, even with 1% of their assets, could send CME’s announcement that they will soon offer futures trading on Bitcoin marks a serious development and coming of age for digital assets. Herein lies the irony for an asset that is completely Bitcoin is a fixed asset—there are only 21 million coins. Solving the advanced mathematical problems results in the mining of Bitcoins. However, Bitcoin is divisible so the growth potential for the exchange medium is unlimited. One of the most interesting inventions that came alongside Bitcoin is blockchain or distributed ledger
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