Andreas Antonopoulos on the Future of - Bitcoin.com.au

Cryptocurrency newb looking for advice on buying first Bitcoin

Hi all,
I am not only new to crypto currency, but also new to Reddit - so please be gentle! Basically, I want to buy a small amount of Bitcoin (and possibly a handful of other similar crypto currencies) - think really small, like £100 or so worth.
What is the most above-board, safe way to purchase them?
Also could someone explain to me how they can be secured and stored - would it be sensible to purchase something like a specially dedicated external hard drive?
I heard Andreas Antonopoulos talking about how your wallet/logins/credentials can be backed up, but don't really understand it - would anyone be able to break this down for me.
Many thanks in advance.
submitted by JohnnyRowanArt to Bitcoin [link] [comments]

Halving on the way: the cost of bitcoin in May

Halving on the way: the cost of bitcoin in May
Halving on the way: the cost of bitcoin in May
• An expert is sure that bitcoin price will not change after halving
• Any forecasts are an attempt to speculate on the market.
• After halving, bitcoin volatility will increase sharply
The next halving of Bitcoin will occur approximately on May 12-14, as a result of which the reward for one mined block will be reduced by exactly half and will be $6.25. Along with this, the number of coins issued in 10 minutes of time on the Bitcoin blockchain will decrease. The questions of how will these events affect the value of the main cryptocurrency and is it true that bitcoin can return to January highs of $ 10,000, were answered by a crypto enthusiast and host of the “Let's Talk About Bitcoins” podcast Andreas M. Antonopoulos.
According to the expert, no one in the world can say exactly how much bitcoin will cost. The dynamics of the cryptocurrency market is so ambiguous and depends on many factors, that predicting the price of bitcoin or other coins is equal to “fortune telling on the coffee grounds” or “making astroprognosis”. According to Antonopoulos, all the forecasts on the Internet are made, most likely, by speculators who only stir up panic around the cryptocurrency.
According to Antonopoulos himself, most likely, after halving, the price of bitcoin will not change in any way. Reducing the number of coins issued and rewards for them are more likely to contribute to the growth of volatility, since neither the holders of the coins, nor investors, nor the exchanges themselves will know how the coin will behave after division in two. Therefore, in the first few weeks there will be a jump in volatility. The same thing happens on the market today after carrying out a halving of VSN coins. Most likely, some holders will prefer to sell their coins, fearing a possible price reduction. Others, on the contrary, in anticipation of rapid growth will buy up cheap bitcoin.
The coin value is influenced not only by internal technical factors, but also by the mood of the market as a whole. Therefore, you should not base your forecasts solely on the influence of halving, Antonopoulos is sure.
So up or down?
If crypto enthusiast Antonopoulos is not ready to make forecasts, then domestic experts are much more open and share their assumptions. So, according to trader Kir Kelevra, the cost of bitcoin will definitely increase in anticipation of halving and immediately after it. This will be facilitated by increased demand for cryptocurrencies from holders and investors.
American investor and crypto enthusiast Tim Draper believes in the growth of bitcoin and considers the coin to be the main investment asset of the future. According to him, for the past three years, the BTC could rise in price up to $250,000. Several factors will contribute to this at once: the growing popularity of cryptocurrencies among millennials and generation Z, the collapse of the global banking system, which remains quite closed and static.
At the same time, crypto enthusiast Tony Weiss predicts that the price of bitcoin could fall to a minimum of $ 1,000 by the end of the year.
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submitted by Smart_Smell to Robopay [link] [comments]

r/Bitcoin recap - July 2019

Hi Bitcoiners!
I’m back with the 31st monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in July 2019
Adoption
Development
Security
Mining
Business
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

r/Bitcoin recap - November 2019

Hi Bitcoiners!
I’m back with the 35th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in November 2019
Adoption
Development
Mining
Business
Education
Regulation & Politics
Archeology (Financial Incumbents)
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

r/Bitcoin recap - June 2019

Hi Bitcoiners!
I’m back with the 30th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in May 2019
Adoption
Development
Security
Mining
Business
Research
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

Top 7 books about bitcoin and blockchain

Top 7 books about bitcoin and blockchain
https://preview.redd.it/0xmmrt7ik5f41.png?width=1200&format=png&auto=webp&s=2edb885873bebfbabbf77d52b5a91657a56771b7
To nudge you towards crypto, we prepared the list of top-rated books that shed some light on what bitcoin and blockchain bring about:
📚 “Bitcoin: The future of money?” by Dominic Frisby.The author takes a step back to look at where Bitcoin came from. He also gives a unique perspective on who the fabled Satoshi Nakamoto might be.
📚 “Blockchain Basics: A Non-Technical Introduction in 25 Steps” by Daniel Drescher.The book is the right fit for non-technical readers. Drescher breaks down all complex notions into simple pieces and explains general principles that make a blockchain what it is.
📚 “The Dark Net” by Jamie Bartlett.The book goes far beyond a traditional explanation of cryptocurrency. Bartlett spends a solid portion of the book examining the Silk Road and how it used Bitcoin as a means for users to buy things.
📚 “The Internet of Money” by Andreas Antonopoulos.While many other books pinpoint the How of bitcoin, The Internment of Money delves into the Why part. The author contextualizes the significance of the matter through a series of essays.
📚 “Digital Gold” by Nathaniel Popper.Here the title speaks for itself. Popper compares Bitcoin to gold as a store of value and takes a critical look at the history of this cryptocurrency. The book was nominated for the Financial Times book of the year in 2015.
📚 “The Book of Satoshi” by Phil Champagne.It’s a good reading piece for those who are big into Bitcoin. The author piled up everything Nakamoto every wrote online about Bitcoin and added some valuable comments on these remarks.
📚 “Blockchain for Babies (Baby University)” by Chris Ferrie and Marco Tomanichel.We are quite well aware of the fact that blockchain is going to change the world. So, make sure your kid is ready for the disruption that’s on its way. The book explains in plain English the critical notions of decentralized technology, cryptocurrency, and other useful crypto stuff.
What is your favorite book about blockchain?
submitted by JasBBB to Plark_Wallet [link] [comments]

List of some of the best Crypto Teachers/Influencers and Crypto exchanges/crypto trading tools for beginners

First of all, congrats, to be a part of the Bitcoin/Blockchain growth story. You are one of the early adopters in this space and hopefully, you will make the best out of it.
The first thing to do is to make your mentors and follow them to get to know about the industry insights, who will always motivate you and prevent you from being scammed.
Some of the mentors to follow on Twitter-
  1. Andreas M. Antonopoulos - He is one of the first Bitcoin educators. In 2012 Antonopoulos became enamored with Bitcoin. He eventually abandoned his job as a freelance consultant and started speaking at conferences about bitcoin, consulting for startups, and writing articles free of charge.
  2. Saifedean Ammous- is an economist and author focusing on bitcoin, who authored the first academic book on the economics of bitcoin, The Bitcoin Standard: The Decentralized Alternative to Central Banking, published by Wiley in 2018
After deciding the mentors and taking advice from them by following them, create an account on some good crypto trading exchanges just to know how an exchange works like what are the functioning/ how orders are placed, etc.
List of some of the best crypto trading exchanges-
  1. Binance - It is the largest crypto exchange in the world as per the trading volumes. User Interface is also very good. Recently they also announced their margin trading feature. They have a mobile app also available.
  2. Bittrex - Its US-based exchange and it is operated by 3 security engineers from Amazon, founded in 2014. They don't have a mobile app for now.
  3. Coinbase - It was founded in 2012 and they have crypto to fiat pairs available in 32 countries you can buy cryptocurrencies through your bank account.
Before going to trade with real money, I would recommend you to do some research, how crypto market works. According to the best of my understanding, you should apply some strategies, follow news/sentiments, charts, patterns of the coin.
Some important tools/websites that can help you to build your strategies and gather all the possible information about the market-
  1. Coingecko - Here you will find all the information of any coin like market cap, prices, dominance, social accounts, explorer at one place so that you can make informed decisions.
  2. Trading View- It's an advanced Financial visualization platform where you can find any past chart with indicators to apply the best possible strategy, also you can take ideas from the leaders at the trading view.
  3. SmartBotCoin - It's an automated tool that gathers all the information like news and sentiments through AI/ML at a single place and automates the process of backtesting, that can be helpful in making informed trading decisions.
Also, before going to trade with real money - you should have a solid trading plan that not only constitutes trading knowledge but also how you control your emotions, gaining confidence and how you manages your finances and risk.
Best of luck!
submitted by Cresource_ to CryptoCurrency [link] [comments]

Making Logical Sense of it all

I’ve been using/holding bitcoin and a few other alt coins since 2015.
I’m not oblivious to the obvious shitshow that is the greed-stricken crypto community. I’m not oblivious to the whole tetheblockstream cartel, those who will most likely find themselves getting buttcoined in a federal penitentiary 5 years from now.
However, I’m still trying to make logical sense of it all. There are still really good people out there who support Bitcoin for the right reasons. People like Andreas Antonopoulos, who could give a rat’s ass about the price of BTC today. He’s more interested in how digital currencies can help the unbanked become financially independent, and so on.
And people like him truly believe Bitcoin (or something like it) will prevail. And it’s hard to let go of that belief when looking at the current state of our financial system (negative interest rates? Really?).
Is Bitcoin usable in its current form? Hell no. Will it be, or something like it be one day? I think only fools will say ‘never’. I think even the staunchest BTC critic will admit that our current currencies/financial systems have an expiration date not too long in the future.
And then comes the whole ‘investing in bitcoin is a ponzi.’ Maybe it is. Tether definitely does pump the price. Most of us aren’t in denial over that. But then again, it’s an asset who’s supply is finite. The more individuals buy up bitcoin, the less there is of it to go around. There’s only 21M BTC for 7B people.
And then of course there’s the, ‘well it doesn’t have any value’. What really defines value? Why has gold had value over the centuries? It was relatively easy to use for exchange of goods, but most importantly, wasn’t easily tarnished/destroyed, and extremely difficult to find/produce (low inflation/supply).
Well, bitcoin checks most of those boxes. Sure—I’m not exactly buying lattes with Bitcoin right now (even though I have in the past), but is it so far fetched to believe that one day it will be economical?
TLDR; yeah a lot of the people in the crypto space are scoundrels. Worst of the worst. But there are also a handful of well meaning folks who are there for the right reasons. Not everything is black and white. I’m no crypto-evangelist. I’m trying to make sense of it all myself.
submitted by crypto_soup to Buttcoin [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For some more great introductory videos check out Andreas Antonopoulos's YouTube playlists, he is probably the best bitcoin educator out there today. Also have to give mention to James D'Angelo's Bitcoin 101 Blackboard series. Lots of additional video resources can be found at the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here, here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

⚡ Lightning Network Megathread ⚡

Last updated 2018-01-29
This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information.
There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!

⚡What is the Lightning Network? ⚡

Explanations:

Image Explanations:

Specifications / White Papers

Videos

Lightning Network Experts on Reddit

  • starkbot - (Elizabeth Stark - Lightning Labs)
  • roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • stile65 - (Alex Akselrod - Lightning Labs)
  • cfromknecht - (Conner Fromknecht - Lightning Labs)
  • RustyReddit - (Rusty Russell - Blockstream)
  • cdecker - (Christian Decker - Blockstream)
  • Dryja - (Tadge Dryja - Digital Currency Initiative)
  • josephpoon - (Joseph Poon)
  • fdrn - (Fabrice Drouin - ACINQ )
  • pmpadiou - (Pierre-Marie Padiou - ACINQ)

Lightning Network Experts on Twitter

  • @starkness - (Elizabeth Stark - Lightning Labs)
  • @roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • @stile65 - (Alex Akselrod - Lightning Labs)
  • @bitconner - (Conner Fromknecht - Lightning Labs)
  • @johanth - (Johan Halseth - Lightning Labs)
  • @bvu - (Bryan Vu - Lightning Labs)
  • @rusty_twit - (Rusty Russell - Blockstream)
  • @snyke - (Christian Decker - Blockstream)
  • @JackMallers - (Jack Mallers - Zap)
  • @tdryja - (Tadge Dryja - Digital Currency Initiative)
  • @jcp - (Joseph Poon)
  • @alexbosworth - (Alex Bosworth - yalls.org)

Medium Posts

Learning Resources

Books

Desktop Interfaces

Web Interfaces

Tutorials and resources

Lightning on Testnet

Lightning Wallets

Place a testnet transaction

Altcoin Trading using Lightning

  • ZigZag - Disclaimer You must trust ZigZag to send to Target Address

Lightning on Mainnet

Warning - Testing should be done on Testnet

Atomic Swaps

Developer Documentation and Resources

Lightning implementations

  • LND - Lightning Network Daemon (Golang)
  • eclair - A Scala implementation of the Lightning Network (Scala)
  • c-lightning - A Lightning Network implementation in C
  • lit - Lightning Network node software (Golang)
  • lightning-onion - Onion Routed Micropayments for the Lightning Network (Golang)
  • lightning-integration - Lightning Integration Testing Framework
  • ptarmigan - C++ BOLT-Compliant Lightning Network Implementation [Incomplete]

Libraries

Lightning Network Visualizers/Explorers

Testnet

Mainnet

Payment Processors

  • BTCPay - Next stable version will include Lightning Network

Community

Slack

IRC

Slack Channel

Discord Channel

Miscellaneous

⚡ Lightning FAQs ⚡

If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily,
Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Lightning is already being tested on the Mainnet Twitter Link but as for a specific date, Jameson Lopp says it best
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
Bitcoin Stack Exchange Answer
What are Channel Factories and how do they work?
Bitcoin Stack Exchange Answer
How does the Lightning network work in simple terms?
Bitcoin Stack Exchange Answer
How are paths found in Lightning Network?
Bitcoin Stack Exchange Answer
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges
Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Stack Exchange Answer
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above.
All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
No -- Source
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source
LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-)
For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user.
Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
Stack Exchange Answer
Can the Lightning Network work on any other cryptocurrency? How?
Stack Exchange Answer
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
Stack Exchange Answer

Unanswered Questions

How do on-chain fees work when opening and closing channels? Who pays the fee?
How does the Lightning Network work for mobile users?
What are the best practices for securing a lightning node?
What is a lightning "hub"?
How does lightning handle cross chain (Atomic) swaps?

Special Thanks and Notes

  • Many links found from awesome-lightning-network github
  • Everyone who submitted a question or concern!
  • I'm continuing to format for an easier Mobile experience!
submitted by codedaway to Bitcoin [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
Some great introductions for new users are My first bitcoin, Bitcoin explained and ELI5 Bitcoin. Also, the following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
Also have to give mention to Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute. Bitcoin statistics can be found here, here and here. Developer resources can be found here, here and here. Peer-reviewed research papers can be found here. Potential upcoming protocol improvements here. Scaling resources here. The number of times Bitcoin was declared dead by the media can be found here (LOL!), and of course Satoshi Nakamoto's whitepaper that started it all! :)
Key properties of bitcoin

Where can I buy bitcoins?

Bitcoin.org, BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Gemini Bitstamp LocalBitcoins
Bitstamp Bitit Mycelium LocalTrader
BitFinex Cex.io LibertyX
Cex.io CoinMama WallofCoins
Xapo Spectrocoin BitcoinOTC
Kraken Luno BitQuick
itBit
HitBTC
Bitit
Bisq (decentralized)
Luno
Spectrocoin
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Samouari BreadWallet Electrum
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for some good options, some of the more commons ones are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, Overstock, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Hyphen.to, Coinsfer, More #1, #2 Bill payment
Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Streamium.io, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream, Rootstock and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

r/Bitcoin recap - August 2019

Hi Bitcoiners!
I’m back with the 32nd monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you an overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in August 2019
Adoption
Development * Bitcoin Core Developer Andrew Chow is straming his code tests on Twitch (7 Aug)
Security
Mining
Business
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

r/Bitcoin recap - February 2019

Hi Bitcoiners!
I’m back with the 26th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
A recap of Bitcoin in February 2019
Adoption * bitcoin can now be used to fund your public transport card in 37 cities in Argentina (7 Feb) * There are as many transactions today as in January 2018 but with all time low fees (7 Feb) * Bitcoin’s Lightning Network currently has 6000 nodes and $2.4M in capacity (9 Feb) * A service that lets you buy Domino’s Pizza via the Lightning Network in the US (13 Feb) * Bitcoin’s average block size is now 1.3MB (14 Feb) * An Argentinian company settles export deal with a client in Paraguay using bitcoin (15 Feb) * The Lightning Network reaches 700 btc in capacity (16 Feb) * A butchery in Kenya accepting bitcoin (17 Feb) * The ₿ symbol is now a listed currency when you long press the $ sign on a mobile keyboard (19 Feb) * A Lightning developer’s node is routing more than $10k per month for a 0.25% fee (19 Feb) * Jack Dorsey, CEO of Twitter and Square, promotes bitcoin tipping on Twitter (20 Feb) * bitcoin transactions near an all-time high of 3.87 transactions per second (21 Feb) * Finanzen.net, a german finance site, starts lising the EUBTC exchange rate (21 Feb) * 20% of Localbitcoins 4.8M visits come from Venezuela (26 Feb) * $52M of bitcoin bought on Cash app in Q4 2018 (27 Feb)
Development * The Casa node has been open-sourced (1 Feb) * A specification for trustless non-pegged sidechains (4 Feb) * Blockstream creates a new Multisignature standard (18 Feb) * BTCPay Server now has payment requests (26 Feb)
Security * A discussion on traditional mixers vs Wasabi wallet (2 Feb) * Another Electrum wallet phishing attempt (4 Feb) * Someone gets scammed for $50 worth in bitcoin by a QR code switch (19 Feb) * Coinomi wallet sends your plain text seed phrase to Google’s remote spellchecker API (27 Feb)
Business * Kraken exchange CEO on the QuadrigaCX coins (3 Feb) * People discuss the bitcoins held by bankrupt QuadrigaCX (4 Feb) * TD Ameritrade is advertising how to invest in Bitcoin on YouTube (10 Feb) * Lightning integration will eventually come to Square’s Cash app according to its CEO (11 Feb) * Samsung’s Galaxy S10 will have secure storage for private keys built in (20 Feb) * A 21-year old couple is working on a hardware wallet (23 Feb)
Research * Bitcoin’s wealth distribution across addresses increased over the past 2 years (13 Feb)
Education * Bitcoin’s prehistory (2 Feb) * People discuss the best real-time bitcoin news feeds (8 Feb) * Someone discusses their small bitcoin mining operation (9 Feb) * A new report on financial privacy from Coin Center (11 Feb) * Andreas Antonopoulos on splicing (25 Feb)
Regulation & Politics * The SEC thinks some cryptocurrency will match their ETF requirements eventually (7 Feb) * Government-mandated asset seizure will be limited in the U.S. (23 Feb)
Archeology (Financial Incumbents) * The British pound is the oldest fiat currency at 317 years and now worth 0.5% of its original value (4 Feb) * JPMorgan Chase incorrectly analyses that bitcoin miners operate at a 16% loss (12 Feb) * JPMorgan Chase launches its own centralized JPM stablecoin (14 Feb) * The IMF comes up with a plan to devalue cash and introduce negative intrest rates (17 Feb) * Venmo’s KYC when someone paid back a sandwich is a great reminder why we need bitcoin (20 Feb)
Price & Trading * Bitcoin passes $4k for the first time in a while (19 Feb)
Fun & Other * A discussion on former Bitcoin developer Mike Hearn (1 Feb) * Twitter CEO Jack Dorsey says he thinks the currency of the Internet will be bitcoin (2 Feb) * Twitter and Square CEO Jack Dorsey passes on the Lightning Torch (5 Feb) * Some instructions on how to send letters using a computer if you think sending bitcoin is difficult (6 Feb) * Why Bitcoin should succeed (7 Feb) * Other technologies that died just like Bitcoin (8 Feb) * Elon Musks compliments cryptocurrency for value transfers (20 Feb) * Elon Musk says whoever owns the early btc deserves a Nobel prize in delayed gratification (21 Feb) * A Lightning-powered chicken feeder (22 Feb) * A Malaysian bookstore with Bitcoin and Blockchain books on top of the finance section (28 Feb)
submitted by SamWouters to Bitcoin [link] [comments]

I got fired 3 week ago and got into depression, one of my best friends is a crypto trader. Instead of feeling shitty he want to teach me everything about crypto and he said that it might help me to understand the normal 9-6 job life is not the only way. here are the tips and resources he gave me:

i’m sharing it here because i’m sure that there are other people in my situation too and it will be great if i can help you exactly like how my friend helped me.
What i’m sharing here is what i wrote on my notebook while he was pitching the basics of crypto trading, I summarized it into few lists so it will be easier for you to follow:
General tips:
  1. If your mom send you a message asking “how to buy bitcoin”? it means you need to sell yours (not to her of course :P)
  2. Don’t put all your money on the exchange (he lost in the past some money on mt.gox).
  3. If you’re too lazy to print a paper wallet or so cheap you can’t buy Trezor, so don’t cry if you make some stupid mistakes and lose your login details/ get hacked.
  4. Don’t be afraid from charts, After you will get into trading you will find technical analysis like a children’s game, you just need to look for shapes and mark a line to understand where the risk is and than use your instincts, your brain(he claimed i don’t have any) and some useful new resources (i share them later on).
  5. there is too much information, if you will try to focus everything it will kill you and you will spend most of your profits on Advil. arrange yourself a useful resources and a comfortable working environment.
  6. Listen to Lofi while you trade/make decisions.
  7. don’t join random telegram groups or pump and dump groups. no-one open a traders group and invite you just because you have a beautiful smile. 97% of them have hidden interest. Try to attend for a local bitcoin meet up in your hometown or near by and than meet REAL people and REAL traders. Ask them if they have a friends traders group and ask to join, If they don’t agree say the
Trading tips:
  1. Altcoins - Vs. Bitcoin and Vs. USD: it's important to analyse the price against Bitcoin and against USD as well. Most major altcoins have huge USD trading
  2. What goes down – does not necessarily go up again: “I’ve seen Altcoins like Aurora which came down 99.99% of its record”.
  3. Day trading is a job. Consider the time spending on it when calculating your gains and losses.
  4. Don’t put all of your eggs in one basket: Diversify your crypto portfolio, and it's not shame to hedge to cash sometimes
  5. don’t risk something you can’t afford to lose.
resources:
“Give a man a good signal and he made profit for day, Teach him how to trade and will make a profit for a day “ (I made it now… And I wonder why I got fired) :P
He shared with me many of his resources and said that I need to check them to understand which one are useful for me and which isn’t.
News & Educational Websites:
Educational, Learn about real companies that using smart contracts - https://medium.com/swarmdotmarket/5-companies-already-brilliantly-using-smart-contracts-ac49f3d5c431
BitcoinWiki* - It’s like wikipedia, but for bitcoins… https://en.bitcoin.it/wiki/Main_Page
CryptoCoinChart - a cool alternative to coinmarketcap https://cryptocoincharts.info/
ICO’s - Before investing in ICO you need to check few things:
Whitepapaer- Before you buy electronic product on Amazon do you read about it? do you do the research? Do the same when you invest in ICO. Read the Whitepaper to fully understand the idea and the potential
submitted by leftycatchersmit to CryptoCurrency [link] [comments]

Why I sold all my ethereum today and converted it all into Bitcoin

It was a very hard moment for me, but I was minded by the great Andreas Antonopoulos, it takes discipline to be a good trader.
Buying when everything feels down is tough, but necessary if you want to profit. This is the most important mantra: buy when most people are selling, sell when most people are buying.
I was trying to figure out why it was so hard. I made a very good multiple on my original ethereum investment. I should be happy realizing those profits. I realized it was my greed to follow everybody else. Otherwise I'd be missing out.
What we're seeing today is our generation's .com bubble. When people are throwing hundreds of millions of dollars at eight pages of white paper, it doesn't take a genius that maybe, just maybe, each of those pages aren't worth $25 million each.
I do believe that one day, ethereum will be the transformative vehicle for new companies that will mint the next Google and Facebook. It'll be the agent that will change our lives as we know it.
But that day is not today. Fortunes will be lost and lives will be ruined.
There are so many obstacles that ethereum has yet to tackle. Enacting a transformative change from Proof-of-Work to Proof-of-Stake, the chances of finding a show stopping bug in smart contracts, even just a whiff of one of the giant ICO companies imploding is enough to get weak hands to fold.
And there are so many weak hands in ethereum.
The vast majority of people investing in ethereum and ICO's haven't had the bitter taste of an equity dropping to 10% and having the discipline to hold on.
How do you have confidence a bridge will hold when a 200-ton semi truck drives across? When 200 of those trucks have already driven across.
Bitcoin has been around for 8 years. It has weathered attacks from the most determined hackers, gone through 3 of the largest crashes in equities, stood under scrutiny by the US government and yet it stands.
I know this for a fact. Bitcoin will be around post BIP-148. Bitcoin will be around next year. Bitcoin will be around the next decade. I'll sleep easy tonight knowing that my Bitcoin stored in my trusty Trezor is mine to keep, out of the 21 million that will ever exist in human history.
To plagiarize one of my favorite quotes:
Ethereum is the fancy McMansion in Sarasota that starts falling apart in a few months. Bitcoin is the old stone building that stands for centuries. I cannot respect someone who doesn't see the difference.
.
EDIT: I've been getting some very kind messages from you guys and have been encouraged to write more. I've set up a new Twitter account that'll post short thoughts and will let you know when more meaty writing is available.
Short form: https://twitter.com/uncapslock
Long form: https://medium.com/@uncapslock
.
Thoughtful readings for your consideration
submitted by uncapslock to Bitcoin [link] [comments]

FOMO at $3500 & Engaging with Bitcoin without "investing"

Some thoughts at 3500$ for new and old.
Let's say you over-extended yourself and bought 2 BTC at 4k. Consider establishing a stop-loss to limit your liability. You can choose to sell and take the 1000$ loss as a valuable but cheap lesson in speculating; this market is a speculative jungle and you're only making money in the short term by actively playing the market, e.g. if you bought at 3700 and sold at 4400 before price declined again you would be pretty satisfied with yourself.
If you believe bitcoin will eventually become a digital reserve currency or at least see another all time high (ATH) at which you'll sell a portion and want to invest for the long term despite market volatility your other choice is to Dollar Cost Average your crypto. NB: that this does not mean buying in a lump sum, it is profoundly misguided to heavily leverage yourself to "go all in," which is an english phrase used in gambling. If you take this position the wisest course is to budget a small amount you can afford to lose and routinely buy crypto at set intervals regardless of losses.
For example, let's say that you put a small amount once a month into your crypto fund and the price has decreased by 500$/mo. If you bought set amounts at 6k, 5.5k, 5k, 4.5k, 4k, 3.5k then your DCA would be 4.75k/BTC, you're still down but not as badly as if you were to buy once at 6k. Ideally the price will eventually rise, so if you buy down to 3k then at 3.5k, 4k, 4.5k, 5k, 5.5k, 6k, & 6.5k your DCA is still 4.75k/BTC but the price is 6.5k/BTC. Feels pretty good, right? Now take a look at how long it took to get to this point in an improbable perfect scenario: 14 months. Note that this is for demonstration purposes only, not a prediction, and if we actualize sustained growth after this we're probably looking at much longer bumpier road.
If you're new or have pulled out to limit your losses, just be patient and keep watching the price. No one knows how low it will go and trying to anticipate that and exhausting your resources the moment you think we've hit bottom is a recipe for regret. Work on your budget now and when we see a sustained recovery start routinely contributing small amounts to your crypto fund. If you have debt the single most important step you can take towards financial independence is to pay it off and limit your use of credit. Consider building an emergency fund with 3-6 months of expenses before contributing heavily to a risky crypto fund.
Take this exciting/tumultuous period to learn about BTC and how to use it, we contribute to the ecosystem when we participate in further decentralizing the network and the benefits of bitcoin are fully realized when it's used as a currency. Put a wallet on your phone and computer, check out hardware wallets such as the Ledger to store large amounts while keeping spending money on your phone. Offer to accept bitcoin as payment, learn what private keys are and why it's important to hold them yourself rather than letting an exchange hold them. If you just bought some coins on an exchange because everyone is talking about bitcoin but didn't look much further than TAs, you can read this ELI5 article to get you started. Consider reading the Cypherpunk Manifesto and the pseudonymous Satoshi Nakamoto's Whitepaper. Google what you don't understand, ask what you can't find on Google. Andreas Antonopoulos is a bitcoin expert/evangelist/apologetic and has extensive talks/Q&As on his YT Channel.
If you're "in it for the tech" then consider contributing to the Lightning Network by running a node, if you're a tinkerer Stadicus has a pinned post that's a cool crypto project and costs about 125$. Raspiblitz project is linked in the comments to that thread and incorporates an LCD screen which CBDoctor used to make this legit node/art installation. Alternately you can buy a ready-made Casa node for 300$.
Hopefully y'all will post some additional thoughts and suggestions for further reading/tinkering in the comments.
Nour!
submitted by FortuitousIdiom to Bitcoin [link] [comments]

This hodler finally cashed out some bitcoin but for the right reason.

TL;DR - I helped people that trust me to make their 1st plunge into Bitcoin.
Like most of us, I am a crypto enthusiast surrounded by family & friend cynics. I eventually learned to not be "that jerk everyone knows that keeps preaching", as Andreas Antonopoulos warns us against being. To my surprise, some folks that used to warn me against crypto have now invited me to dinner and asked me to be their guide into this world. They wanted one complete bitcoin for every child they have. They didn't want to open an account online or meet a stranger in a parking lot. They knew I've been accumulating for some time.
  1. I gave them two of my own extra hardware wallet devices. I showed them how to create the decoy wallet and their passphrase-protected real wallet. I had them sync both devices to be replicas of each other so they have their primary device and emergency backup.
  2. I gave them a crypto steel storage unit and a padlock for it to keep it in the shut position.
  3. I explained how their hardware devices' pin codes are local and their mnemonic seed transcends them. I also explained the basics of how to keep their savings secure and how people have been victim to theft before.
I think they're good to go now. I really enjoyed receiving this surprise request. Next time I'll be more ready. I'll buy two more hardware wallets, and another crypto steel with padlock as a "starter kit" waiting on the shelf. Maybe you should get your starter kit ready too. Your own personal skeptics may come surprise you too soon.
submitted by cooriah to Bitcoin [link] [comments]

Open TODO List

GET PAID BBP COINS FROM MONTHLY BUDGET FOR YOUR WORK!
Anyone can get paid BBP for helping do work for BiblePay!
http://wiki.biblepay.org/UnderstandingGovernance

From GUI Wallet, in top menu click Proposals >> Proposals Add
NOTE: Only costs 2500 BBP to submit a proposal requesting funding for your work

Here is an incomplete ownership list of different resources:
https://www.reddit.com/BiblePay/comments/9utdsh/biblepay_ownership_list/

OPEN TODO LIST:
- Update and migrate Update/Clean wallet guide to website/wiki
https://www.reddit.com/BiblePay/comments/7nmvm8/how_to_update_clean_wallets/
(erasechain?)

- Update Wiki main page
---- Create Table of Contents
http://wiki.biblepay.org/Main_Page

- Update White Paper
https://www.reddit.com/BiblePay/comments/cyd12g/need_help_updating_white_pape
https://pool.biblepay.org/Docs/BiblePay_White_Paper.pdf

- Write and Publish Step by Step Buying Bitcoin and Buying BiblePay guide
https://bitcointalk.org/index.php?topic=2388064.msg51062536#msg51062536

- Create Youtube Videos
--- How to Mine
--- How to Buy Coins
--- How to Create Proposals, How to View, How Budget System Works-
-- How to Setup Masternode (How to Vote)

- Translate to All Languages
--- Bitcointalk ANN
https://www.reddit.com/BiblePay/comments/7qmt6m/bitcointalk_main_post_language_translations/
--- Mining Guides
--- Website
http://biblepay.org/https://www.reddit.com/BiblePay/comments/7dyabk/help_translate_website_documentation_to_othe
--- White Paper
--- Wallet?
--- Bible?
Language Plugins for Wordpress:
- Polylang: https://wordpress.org/plugins/polylang/
- qTranslate X: https://wordpress.org/plugins/qtranslate-x/
- Polylang Pro: https://polylang.pro/downloads/polylang-pro/
- WordPress Multilingual Plugin (WPML): https://wpml.org/

- Spread to all online Christians
https://bitcointalk.org/index.php?topic=2388064.msg52642234#msg52642234

- Create Twitter Account and Follow BiblePay, Like and Retweet Tweets
https://twitter.com/i/flow/signup?lang=en

- Create or Update Bitcointalk Forum Signature
https://www.reddit.com/BiblePay/comments/7s1qsy/bitcointalk_forum_signature_guide/

MORE TODO:
- Advertising and Journalist Research (Multiple Sheets)
https://docs.google.com/spreadsheets/d/1grgb5Y74XMqShKDp051h1bSZVbHzRLna1bYzoTh6MAY/edit#gid=0

--- Write Articles/Stories
Christcoin is a dead coin now, but look what places it got articles:
https://baptistnews.com/article/market-christian-cryptocurrency-christ-coin-aims-find/#.XNs1E45KiUk
https://www.worldreligionnews.com/religion-news/first-cryptocurrency-god-christ-coin
https://religionnews.com/2017/10/04/christ-coin-launches-as-first-faith-based-cryptocurrency/
https://www.christiantoday.com/article/christ-coin-new-christian-digital-currency-launches-with-rewards-for-the-faithful/115333.htm

- Google Ads - https://forum.biblepay.org/index.php?topic=204.0
- Facebook Ads
- Reddit Ads - https://forum.biblepay.org/index.php?topic=82.0
- Twitter Ads (Banned)

- Monthly Updates
- Weekly Updates
- Email Alerts for Mandatory Upgrades and Monthly News
- Monthly Proposal Summaries

Should we explain our History? and how should we explain it?https://www.reddit.com/BiblePay/comments/ba81wh/current_block_reward_breakdown_mining_guides_and/
https://forum.biblepay.org/index.php?topic=323.0
https://forum.biblepay.org/index.php?topic=380.0https://wiki.biblepay.org/Nutrition_Information

- How do we reach the people that would be most interested in BiblePay?
- How do people find BiblePay?
- What do they see when they find us?
- Why should someone invest in BiblePay? (Why does someone invest in Bitcoin?)
- How is BiblePay different and better than Bitcoin? What is unique?
- How easy is the path to invest?
- How do they stay in the loop / up to date?
  1. Simple Fun Youtube video on How to install BiblePay wallet, How to Buy Bitcoin, How to Buy BiblePay coins, and then How to Backup wallet and keep up to date on the project, Anyone here got youtube/video creation skills? (Older mining video that was good: https://www.youtube.com/watch?v=K1yKx8KsH60) [Most people are visual learners]
  2. Higher google search ranking for religion keywords matched with crypto keywords (more articles, google adwords, etc), examples of religious keywords: christian denominations: https://en.wikipedia.org/wiki/List_of_Christian_denominations_by_number_of_members, Anyone interested in running a Google Adwords campaign? Anyone interested in writing articles hitting upon keywords in title and in article?
  3. I think we are missing out on Facebook, lots of older people on Facebook, older people probably dont use Reddit, Twitter, Discord, etc (I believe our Google Analytics data showed average age of users clicking on BiblePay.org was around age 35), we should be posting regularly on there, anyone interested to make periodic posts that are super user friendly / not too technical?
We need help creating youtube videos
We need help creating graphics
We need help writing articles/stories
We need help communicating on Facebook
We need help running an email newsletter
We need help advertising our monthly budget proposals

- Coin Comparisons
https://wiki.biblepay.org/Nutrition_Information

- Airdrop
https://forum.biblepay.org/index.php?topic=120.0https://www.biblepay.org/airdrop/https://airdropalert.com/biblepay-airdrop

- Random Faucet
https://forum.biblepay.org/index.php?topic=80.0
https://www.reddit.com/BiblePay/comments/7m6t8s/build_2nd_faucet/

- Website SEO (Yoast plugin)

- International Crypto Forums
--- 8btc.com (Chinese)
--- MiningClub.info (Russian)

- Slide Deck
http://smallbusiness.chron.com/deck-marketing-64930.html
"Slide decks are full of infographics and data optimized for "at-a-glance" viewing"

- Paper Wallet Giveaway
How to generate 100+ paper wallets with $1-5 loaded on each

- April of BLOOM has PR experience
https://forum.biblepay.org/index.php?topic=72.0

- Banner Ads
http://fozy.altervista.org/latest-banners.html
https://pasteboard.co/HS9J9W1.pnghttps://pasteboard.co/HS9Jrz0.png

- Interesting Data
https://www.alexa.com/siteinfo/biblepay.org
https://coincheckup.com/coins/biblepay/analysis

- Cathio
Contact organization and writers who wrote articles about them(I think we are missing out on the keyword catholic, we should write page/articleabout how we are open to everyone including all Christian denominations)

INFO:
- What information needs to be added to our website/ann/whitepapeetc?
-- IPFS
https://www.reddit.com/BiblePay/comments/9b6tex/testnet_testing_ipfs_decentralized_file_system/
https://www.reddit.com/BiblePay/comments/9h1578/rob_biblepay_progress/
https://medium.com/biblepay-news/biblepay-october-2018-update-2eba069fd2a2
https://www.reddit.com/BiblePay/comments/9st66d/november_announcement/
-- Dash Evolution
https://www.reddit.com/BiblePay/comments/bifvpk/biblepay_evolution_what_is_it/
-- Generic Smart Contracts (GSCs
)https://wiki.biblepay.org/Generic_Smart_Contracts
-- Healing Campaign
https://wiki.biblepay.org/BiblePay_Healing_Campaign
-- Bug Bountys
https://forum.biblepay.org/index.php?topic=408.msg6046#msg6046
-- Proof of Orphan Mining (POOM)
https://wiki.biblepay.org/POOM
-- Christian Spaces
https://bitcointalk.org/index.php?topic=2388064.msg52080919#msg52080919
-- Chain Locks
https://dashnews.org/andreas-antonopoulos-calls-dash-chainlocks-a-smart-way-of-preventing-51-attacks/
submitted by togoshige to BiblePay [link] [comments]

Andreas Antonopoulos - Dealing with Bitcoin Haters Andreas Antonopoulos Shows Beginner How Easy A Bitcoin Transfer Is! *BONUS* Bitcoin Q&A: How do I secure my bitcoin?

While many books explain the how of bitcoin, The Internet of Money delves into the why of bitcoin. Acclaimed information-security expert and author of Mastering Bitcoin, Andreas M. Antonopoulos examines and contextualizes the significance of bitcoin through a series of essays spanning the exhilarating maturation of this technology. Bitcoin, a technological breakthrough quietly introduced to Andreas M. Antonopoulos is a best-selling author, speaker, educator, and highly sought after expert in Bitcoin and open blockchain technologies. He is known for making complex subjects easy to understand and highlighting both the positive and negative impacts these technologies can have on our global societies. Andreas Antonopoulos has said one of the most important factor, that Bitcoin it's still fairly like the internet in 98 and now has become a part of our lives. When most of the population know about Bitcoin then the massive price rise. Stop listening to all these trade analyses causing unnecessary emotional ride for the community. When it comes to the emergence of Bitcoin, blockchain technology, and cryptocurrencies in general, one of those people was Andreas Antonopoulos. While he did not invent coin or get rich directly off of its rise to prominence, Antonopoulos was arguably the most influential figure in making Bitcoin, blockchain, and the cryptocurrency movement ABOUT: Andreas Antonopoulos . Andreas Antonopoulos is one of the leaders in the Bitcoin culture, but how does that happen in the decentralized cryptocurrency marketplace? Obviously, there is no Bitcoin CEO or high profile managers so just who is Andreas Antonopoulos and how has he become so well respected within the Bitcoin community?

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Andreas Antonopoulos - Dealing with Bitcoin Haters

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin. Follow on Twitter: @aantonop https://twitter.com ... Another amazing talk by Andreas Antonopoulos. This is an entry level talk about Bitcoin, not just as a form of money but more as the technological invention that is changing the world forever. Arnold Schwarzenegger This Speech Broke The Internet AND Most Inspiring Speech- It Changed My Life. - Duration: 14:58. Alpha Leaders Productions Recommended for you ️BITCOIN: Important Message [ ANDREAS ANTONOPOULOS ] - Bitcoin 2020 ... BUY AND SELL BITCOIN ON PAYPAL CONFIRMED ETHEREUM BEAST MODE Crypto News 2020 - Duration: 14:16. Andreas Antonopoulos answering a question on where to invest in Bitcoin. Meeting at a Melbourne Bitcoin Technology Centre in Australia. THIS IS AN EXTRACT FR...

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