Balaji Srinivasan Archives - Bitcoin Flash News

Bitcoin Newcomers FAQ - 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.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include 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.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) 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.
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.
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 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 OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site 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.
Spendabit, Overstock and The Bitcoin Directory 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, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
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.

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. If you would prefer to keep it simple there are several good options. 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, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
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-Related 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 Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

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
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
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.
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 BitcoinFan7 to Bitcoin [link] [comments]

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?
Can the early success of major crypto exchanges propel them to winning the broader consumer finance market?
https://reddit.com/link/i48t4q/video/v4eo10gom7f51/player
This is the first part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this powerful technology to reach the masses. We believe a crypto-native company, like Genesis Block, will become the bank of the future.
In an earlier series, Crypto-Powered, we laid out arguments for why crypto-native companies have a huge edge in the market. When you consider both the broad spectrum of financial use-cases and the enormous value unlocked through these DeFi protocols, you can see just how big of an unfair advantage blockchain tech becomes for companies who truly understand and leverage it. Traditional banks and fintech unicorns simply won’t be able to keep up.
The power players of consumer finance in the 21st century will be crypto-native companies who build with blockchain technology at their core.
The crypto landscape is still nascent. We’re still very much in the fragmented, unbundled phase of the industry lifecycle. Beyond what Genesis Block is doing, there are signs of other companies slowly starting to bundle financial services into what could be an all-in-one bank replacement.
So the key question that this series hopes to answer:
Which crypto-native company will successfully become the bank of the future?
We obviously think Genesis Block is well-positioned to win. But we certainly aren’t the only game in town. In this series, we’ll be doing an analysis of who is most capable of thwarting our efforts. We’ll look at categories like crypto exchanges, crypto wallets, centralized lending & borrowing services, and crypto debit card companies. Each category will have its own dedicated post.
Today we’re analyzing big crypto exchanges. The two companies we’ll focus on today are Coinbase (biggest American exchange) and Binance (biggest global exchange). They are the top two exchanges in terms of Bitcoin trading volume. They are in pole position to winning this market — they have a huge existing userbase and strong financial resources.
Will Coinbase or Binance become the bank of the future? Can their early success propel them to winning the broader consumer finance market? Is their growth too far ahead for anyone else to catch up? Let’s dive in.
https://preview.redd.it/lau4hevpm7f51.png?width=800&format=png&auto=webp&s=2c5de1ba497199f36aa194e5809bd86e5ab533d8

Binance

The most formidable exchange on the global stage is Binance (Crunchbase). All signs suggest they have significantly more users and a stronger balance sheet than Coinbase. No other exchange is executing as aggressively and relentlessly as Binance is. The cadence at which they are shipping and launching new products is nothing short of impressive. As Tushar Jain from Multicoin argues, Binance is Blitzscaling.
Here are some of the products that they’ve launched in the last 18 months. Only a few are announced but still pre-launch.
Binance is well-positioned to become the crypto-powered, all-in-one, bundled solution for financial services. They already have so many of the pieces. But the key question is:
Can they create a cohesive & united product experience?

Binance Weaknesses

Binance is strong, but they do have a few major weaknesses that could slow them down.
  1. Traders & Speculators Binance is currently very geared for speculators, traders, and financial professionals. Their bread-and-butter is trading (spot, margin, options, futures). Their UI is littered with depth charts, order books, candlesticks, and other financial concepts that are beyond the reach of most normal consumers. Their product today is not at all tailored for the broader consumer market. Given Binance’s popularity and strength among the pro audience, it’s unlikely that they will dumb down or simplify their product any time soon. That would jeopardize their core business. Binance will likely need an entirely new product/brand to go beyond the pro user crowd. That will take time (or an acquisition). So the question remains, is Binance even interested in the broader consumer market? Or will they continue to focus on their core product, the one-stop-shop for pro crypto traders?
  2. Controversies & Hot Water Binance has had a number of controversies. No one seems to know where they are based — so what regulatory agencies can hold them accountable? Last year, some sensitive, private user data got leaked. When they announced their debit card program, they had to remove mentions of Visa quickly after. And though the “police raid” story proved to be untrue, there are still a lot of questions about what happened with their Shanghai office shut down (where there is smoke, there is fire). If any company has had a “move fast and break things” attitude, it is Binance. That attitude has served them well so far but as they try to do business in more regulated countries like America, this will make their road much more difficult — especially in the consumer market where trust takes a long time to earn, but can be destroyed in an instant. This is perhaps why the Binance US product is an empty shell when compared to their main global product.
  3. Disjointed Product Experience Because Binance has so many different teams launching so many different services, their core product is increasingly feeling disjointed and disconnected. Many of the new features are sloppily integrated with each other. There’s no cohesive product experience. This is one of the downsides of executing and shipping at their relentless pace. For example, users don’t have a single wallet that shows their balances. Depending on if the user wants to do spot trading, margin, futures, or savings… the user needs to constantly be transferring their assets from one wallet to another. It’s not a unified, frictionless, simple user experience. This is one major downside of the “move fast and break things” approach.
  4. BNB token Binance raised $15M in a 2017 ICO by selling their $BNB token. The current market cap of $BNB is worth more than $2.6B. Financially this token has served them well. However, given how BNB works (for example, their token burn), there are a lot of open questions as to how BNB will be treated with US security laws. Their Binance US product so far is treading very lightly with its use of BNB. Their token could become a liability for Binance as it enters more regulated markets. Whether the crypto community likes it or not, until regulators get caught up and understand the power of decentralized technology, tokens will still be a regulatory burden — especially for anything that touches consumers.
  5. Binance Chain & Smart Contract Platform Binance is launching its own smart contract platform soon. Based on compatibility choices, they have their sights aimed at the Ethereum developer community. It’s unclear how easy it’ll be to convince developers to move to Binance chain. Most of the current developer energy and momentum around smart contracts is with Ethereum. Because Binance now has their own horse in the race, it’s unlikely they will ever decide to leverage Ethereum’s DeFi protocols. This could likely be a major strategic mistake — and hubris that goes a step too far. Binance will be pushing and promoting protocols on their own platform. The major risk of being all-in on their own platform is that they miss having a seat on the Ethereum rocket ship — specifically the growth of DeFi use-cases and the enormous value that can be unlocked. Integrating with Ethereum’s protocols would be either admitting defeat of their own platform or competing directly against themselves.

Binance Wrap Up

I don’t believe Binance is likely to succeed with a homegrown product aimed at the consumer finance market. Their current product — which is focused heavily on professional traders and speculators — is unlikely to become the bank of the future. If they wanted to enter the broader consumer market, I believe it’s much more likely that they will acquire a company that is getting early traction. They are not afraid to make acquisitions (Trust, JEX, WazirX, DappReview, BxB, CoinMarketCap, Swipe).
However, never count CZ out. He is a hustler. Binance is executing so aggressively and relentlessly that they will always be on the shortlist of major contenders.
https://preview.redd.it/mxmlg1zqm7f51.png?width=800&format=png&auto=webp&s=2d900dd5ff7f3b00df5fe5a48305d57ebeffaa9a

Coinbase

The crypto-native company that I believe is more likely to become the bank of the future is Coinbase (crunchbase). Their dominance in America could serve as a springboard to winning the West (Binance has a stronger foothold in Asia). Coinbase has more than 30M users. Their exchange business is a money-printing machine. They have a solid reputation as it relates to compliance and working with regulators. Their CEO is a longtime member of the crypto community. They are rumored to be going public soon.

Coinbase Strengths

Let’s look at what makes them strong and a likely contender for winning the broader consumer finance market.
  1. Different Audience, Different Experience Coinbase has been smart to create a unique product experience for each audience — the pro speculator crowd and the common retail user. Their simple consumer version is at Coinbase.com. That’s the default. Their product for the more sophisticated traders and speculators is at Coinbase Pro (formerly GDAX). Unlike Binance, Coinbase can slowly build out the bank of the future for the broad consumer market while still having a home for their hardcore crypto traders. They aren’t afraid to have different experiences for different audiences.
  2. Brand & Design Coinbase has a strong product design team. Their brand is capable of going beyond the male-dominated crypto audience. Their product is clean and simple — much more consumer-friendly than Binance. It’s clear they spend a lot of time thinking about their user experience. Interacting directly with crypto can sometimes be rough and raw (especially for n00bs). When I was at Mainframe we hosted a panel about Crypto UX challenges at the DevCon4 Dapp Awards. Connie Yang (Head of Design at Coinbase) was on the panel. She was impressive. Some of their design philosophies will bode well as they push to reach the broader consumer finance market.
  3. USDC Stablecoin Coinbase (along with Circle) launched USDC. We’ve shared some stats about its impressive growth when we discussed DeFi use-cases. USDC is quickly becoming integrated with most DeFi protocols. As a result, Coinbase is getting a front-row seat at some of the most exciting things happening in decentralized finance. As Coinbase builds its knowledge and networks around these protocols, it could put them in a favorable position to unlock incredible value for their users.
  4. Early Signs of Bundling Though Coinbase has nowhere near as many products & services as Binance, they are slowly starting to add more financial services that may appeal to the broader market. They are now letting depositors earn interest on USDC (also DAI & Tezos). In the UK they are piloting a debit card. Users can now invest in crypto with dollar-cost-averaging. It’s not much, but it’s a start. You can start to see hints of a more bundled solution around financial services.

Coinbase Weaknesses

Let’s now look at some things that could hold them back.
  1. Slow Cadence In the fast-paced world of crypto, and especially when compared to Binance, Coinbase does not ship very many new products very often. This is perhaps their greatest weakness. Smaller, more nimble startups may run circles around them. They were smart to launch Coinbase Ventures where tey invest in early-stage startups. They can now keep an ear to the ground on innovation. Perhaps their cadence is normal for a company of their size — but the Binance pace creates quite the contrast.
  2. Lack of Innovation When you consider the previous point (slow cadence), it’s unclear if Coinbase is capable of building and launching new products that are built internally. Most of their new products have come through acquisitions. Their Earn.com acquisition is what led to their Earn educational product. Their acquisition of Xapo helped bolster their institutional custody offering. They acqui-hired a team to help launch their staking infrastructure. Their acquisition of Cipher Browser became an important part of Coinbase Wallet. And recently, they acquired Tagomi — a crypto prime brokerage. Perhaps most of Coinbase’s team is just focused on improving their golden goose, their exchange business. It’s unclear. But the jury is still out on if they can successfully innovate internally and launch any homegrown products.
  3. Talent Exodus There have been numerous reports of executive turmoil at Coinbase. It raises a lot of questions about company culture and vision. Some of the executives who departed include COO Asiff Hirji, CTO Balaji Srinivasan, VP & GM Adam White, VP Eng Tim Wagner, VP Product Jeremy Henrickson, Sr Dir of Eng Namrata Ganatra, VP of Intl Biz Dan Romero, Dir of Inst Sales Christine Sandler, Head of Trading Hunter Merghart, Dir Data Science Soups Ranjan, Policy Lead Mike Lempres, Sr Compliance Vaishali Mehta. Many of these folks didn’t stay with Coinbase very long. We don’t know exactly why it’s happening —but when you consider a few of my first points (slow cadence, lack of innovation), you have to wonder if it’s all related.
  4. Institutional Focus As a company, we are a Coinbase client. We love their institutional offering. It’s clear they’ve been investing a lot in this area. A recent Coinbase blog post made it clear that this has been a focus: “Over the past 12 months, Coinbase has been laser-focused on building out the types of features and services that our institutional customers need.” Their Tagomi acquisition only re-enforced this focus. Perhaps this is why their consumer product has felt so neglected. They’ve been heavily investing in their institutional services since May 2018. For a company that’s getting very close to an IPO, it makes sense that they’d focus on areas that present strong revenue opportunities — as they do with institutional clients. Even for big companies like Coinbase, it’s hard to have a split focus. If they are “laser-focused” on the institutional audience, it’s unlikely they’ll be launching any major consumer products anytime soon.

Coinbase Wrap Up

At Genesis Block, we‘re proud to be working with Coinbase. They are a fantastic company. However, I don’t believe that they’ll succeed in building their own product for the broader consumer finance market. While they have incredible design, there are no signs that they are focused on or capable of internally building this type of product.
Similar to Binance, I think it’s far more likely that Coinbase acquires a promising young startup with strong growth.

Honorable Mentions

Other US-based exchanges worth mentioning are Kraken, Gemini, and Bittrex. So far we’ve seen very few signs that any of them will aggressively attack broader consumer finance. Most are going in the way of Binance — listing more assets and adding more pro tools like margin and futures trading. And many, like Coinbase, are trying to attract more institutional customers. For example, Gemini with their custody product.

Wrap Up

Coinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto.
Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them.
In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business.
So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them.
------
Other Ways to Consume Today's Episode:
Follow our social channels: https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto: https://genesisblock.com/download
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/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]

/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 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 lots of additional video resources check out 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 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 is a very helpful site 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
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, GreenmanGaming, and Coinplay.io For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, Rakuten, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg, TigerDirect 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, 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 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
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]

[uncensored-r/Bitcoin] /r/Bitcoin FAQ - Newcomers please read

The following post by BinaryResult is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
reddit: /Bitcoin/comments/6jlop4
The original post's content was as follows:

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 lots of additional video resources check out the videos wiki page or /BitcoinTV.
Key properties of bitcoin
  • Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary.
  • Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
  • Accountable - The public ledger is transparent, all transactions are seen by everyone.
  • Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works.
  • Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
  • Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
  • Low fee - Transactions fees can vary between a few cents and a few dollars depending on network demand and how much priority you wish to assign to the transaction. Most wallets calculate the fee automatically but you can view current fees here.
  • Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
  • Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.
  • Pseudonymous - No need to expose personal information when purchasing with cash or transacting.
  • Secure - Encrypted cryptographically and can’t be brute forced or confiscated with proper key management such as hardware wallets.
  • Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being met
  • Nearly instant - From a few seconds to a few minutes depending on need for confirmations. After a few confirmations transactions are irreversible.
  • Peer-to-peer - No intermediaries with a cut, no need for trusted third parties.
  • Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply remembering a string of words for wallet recovery.
  • Scalable - Each bitcoin is divisible down to 8 decimals allowing it to grow in value while still accommodating micro-transactions.
  • Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiat
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.
  • If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor or Ledger is recommended. A more advanced option is to secure them yourself using paper wallets generated offline. Some popular mobile and desktop options are listed below and most are cross platform.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
  • If you prefer to let third party "Bitcoin banks" manage your coins, try Coinbase or Xapo but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
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, Rakuten, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg, TigerDirect 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 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;
  • 1-3% savings over credit cards or PayPal.
  • No chargebacks (final settlement in 10 minutes as opposed to 3+ months).
  • Accept business from a global customer base.
  • Increased privacy.
  • Convert 100% of the sale to the currency of your choice for deposit to your account, or choose to keep a percentage of the sale in bitcoin if you wish to begin accumulating it.
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 ?BTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (?L) or micrometre (?m)
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:
  • 0.02 BTC
  • 20 mBTC
  • 20,000 bits
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 censorship_notifier to noncensored_bitcoin [link] [comments]

[uncensored-r/Bitcoin] /r/Bitcoin FAQ - Newcomers please read

The following post by BinaryResult is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7gfkjq
The original post's content was as follows:

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
  • Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
  • Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
  • Accountable - The public ledger is transparent, all transactions are seen by everyone.
  • Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works.
  • Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
  • Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
  • Low fee - Transactions fees can vary between a few cents and a few dollars depending on network demand and how much priority you wish to assign to the transaction. Most wallets calculate the fee automatically but you can view current fees here.
  • Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
  • Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.
  • Pseudonymous - No need to expose personal information when purchasing with cash or transacting.
  • Secure - Encrypted cryptographically and can’t be brute forced or confiscated with proper key management such as hardware wallets.
  • Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being met
  • Nearly instant - From a few seconds to a few minutes depending on need for confirmations. After a few confirmations transactions are irreversible.
  • Peer-to-peer - No intermediaries with a cut, no need for trusted third parties.
  • Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply remembering a string of words for wallet recovery.
  • Scalable - Each bitcoin is divisible down to 8 decimals allowing it to grow in value while still accommodating micro-transactions.
  • Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiat
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.
  • If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor or Ledger is recommended. A more advanced option is to secure them yourself using paper wallets generated offline. Some popular mobile and desktop options are listed below and most are cross platform.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
  • If you prefer to let third party "Bitcoin banks" manage your coins, try Coinbase or Xapo but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Another interesting use case for physical storage/trans...
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Subreddit Stats: Bitcoin top posts from 2017-01-09 to 2017-02-08 00:18 PDT

Period: 29.84 days
Submissions Comments
Total 999 46557
Rate (per day) 33.48 1507.53
Unique Redditors 653 6643
Combined Score 110856 177455

Top Submitters' Top Submissions

  1. 3932 points, 2 submissions: tuqqs
    1. Clearly not mainstream yet (2808 points, 104 comments)
    2. what it'll look like, when it happens (1124 points, 195 comments)
  2. 3593 points, 19 submissions: helmsk
    1. Countdown: Bitcoin Will Be a Legal Method of Payment in Japan in Two Months (2316 points, 151 comments)
    2. Europe Lays Out Roadmap to Restrict Payments in Cash and Cryptocurrencies (317 points, 102 comments)
    3. Polish Bitcoin Adoption Escalating with Strong Ecosystem (86 points, 4 comments)
    4. Why South Korean Bitcoin Adoption Could Outpace Most Other Countries This Year (74 points, 3 comments)
    5. Pakistan Set to Become a Major Bitcoin Hub (72 points, 49 comments)
    6. UAE Did Not Ban Bitcoin (72 points, 2 comments)
    7. Europe Committed to Tightening Digital Currency Rules by End of 2017 (71 points, 23 comments)
    8. How to Start Your Own Bitcoin ATM Business (67 points, 15 comments)
    9. Coincheck's Growth Reveals Surging Japanese Bitcoin Trade (62 points, 8 comments)
    10. How Trump's Wall and Remittance Tax Could Give Bitcoin a Boost (60 points, 23 comments)
  3. 3177 points, 2 submissions: futureofeverything
    1. "R.I.P. Bitcoin. It's Time to Move On"....funny billboard driving around in Miami (3136 points, 227 comments)
    2. Why Venezuela's Currency Crisis Is A Case Study For Bitcoin (41 points, 1 comment)
  4. 2577 points, 7 submissions: Pizpie
    1. Welcome to Bitcoin, everyone. Don't worry, he'll recover. (1353 points, 155 comments)
    2. Breaking: Huobi & BTCC stopped margin trading, OKc leverage only 1x, finally no more fake BTC generated by exchange (485 points, 160 comments)
    3. Breaking: Bitcoin exchange Coinbase receives New York BitLicense (242 points, 55 comments)
    4. Canada Goose is thinking about accepting Bitcoin - Let them know what you think! (191 points, 49 comments)
    5. Confirmed: Huobi reactivates margin trading, with a limit of 100k CNY instead of 10 million CNY. (160 points, 79 comments)
    6. BREAKING: Huobi official announcement: We are considering charging trading fees. (80 points, 25 comments)
    7. Breaking: PBOC strikes again - Lending disabled on BTCC (66 points, 70 comments)
  5. 1941 points, 1 submission: bahatassafus
    1. Internet Archive: $3000 donated anonymously to the @internetarchive in bitcoin just now. Made our day! Thank you! (1941 points, 31 comments)
  6. 1338 points, 1 submission: kynek99
    1. Deutsche Bank - More than $10 billion in transactions never appeared on the books. That's why banksters don't want to use public blockchains. (1338 points, 96 comments)
  7. 1294 points, 1 submission: umbawumpa
    1. Julian Assange just used the current block hash as proof-of-not-prerecorded-interview in his AMA (1294 points, 182 comments)
  8. 1272 points, 2 submissions: Butt_Cheek_Spreader
    1. When you ride the bitcoin rally (1189 points, 204 comments)
    2. OKcoin and Huobi provided margin trading that violated rules resulting in abnormal price and fluctuations. (83 points, 28 comments)
  9. 1258 points, 4 submissions: dan_from_san_diego
    1. I started mining bitcoin in the desert. Here's some of what I have learned. (516 points, 575 comments)
    2. Chase is closing my account due to bitcoin purchases. Nice. (478 points, 410 comments)
    3. Here are some pictures of the solar greenhouse in the desert I am using to mine bitcoin. (140 points, 303 comments)
    4. Man... Brian Kelly from CNBC really fell hard for bitcoin. I like that! (124 points, 27 comments)
  10. 1250 points, 10 submissions: PoCaMiQu
    1. Can we fucking acknowledge that the Chinese Government just legitimized bitcoin? (604 points, 154 comments)
    2. WTF Huffington Post <---Fake News: "Bitcoin Plummets On Yuan Reversal" (218 points, 71 comments)
    3. This is what I like to see when checking daily's finances. (122 points, 22 comments)
    4. Beautiful balance (71 points, 13 comments)
    5. Reminder: Bitcoin's immutability is not only not a bug, but its main feature. Scalability comes secondary to it. (44 points, 20 comments)
    6. Bitcoin Price Gets Ready to Factor In Winklevoss Bitcoin ETF Approval (43 points, 24 comments)
    7. Paxful - a global leader in peer-to-peer bitcoin technology - has launched a new widget, allowing anyone to buy bitcoin worldwide instantly with over 300 ways to pay. (41 points, 34 comments)
    8. Scaling Revisited: What If Bitcoin's Big 'Problem' is Its Great Strength? (38 points, 16 comments)
    9. Flashback to the 90's: Interviewer asks Fed Chair "What is Blockchain?" (37 points, 21 comments)
    10. It seems all those FUD mongers were wrong when they predicted the price would crash without China's "liquidity" (32 points, 13 comments)
  11. 1155 points, 16 submissions: eragmus
    1. Ben Davenport (BitGo CTO): "Centralization of mining has led to some miners thinking they're in charge of Bitcoin. They forgot where Bitcoin's value comes from." (169 points, 112 comments)
    2. [Twitter Poll] Charlie Lee (Director of Engineering @ Coinbase): "What's the most important feature of Bitcoin that we must not sacrifice? Decentralization, Security, Low fees, Global payments" (116 points, 62 comments)
    3. Hernz: "Did you know you can get paid to help spread misinformation? -birds dot bitcoin dot com-" (hosted by Roger Ver) (106 points, 38 comments)
    4. The Passion of 'Bitcoin Jesus': How The Blockchain's Most Beloved Investor Became its Most Polarizing (101 points, 52 comments)
    5. Jonas Nick: "MimbleWimble blockchain (non-interactive coinjoin + pruning) may be able to support Lightning" / ref: Andrew Poelstra @ lists.launchpad.net/mimblewimble/msg00022.html (96 points, 19 comments)
    6. Bitcoin Core - IRC Meeting Summary (January 19, 2016) (83 points, 16 comments)
    7. Bitcoin Core - IRC Meeting Summary (January 12, 2016) (68 points, 7 comments)
    8. WhalePanda: "Analyzed @rogerkver's 'Cry Wolf' tactic on censorship on /bitcoin." (59 points, 16 comments)
    9. Inside MAST: The Little-Known Plan to Advance Bitcoin Smart Contracts (52 points, 8 comments)
    10. Bitcoin Core - IRC Meeting Summary (January 5, 2016) (51 points, 2 comments)
  12. 1155 points, 14 submissions: castom
    1. Russian Authorities: Bitcoin Poses No Threat, Won’t Be Banned (575 points, 80 comments)
    2. Bitcoin Goes to Washington - Trump May Hire More Digital Currency Leaders (86 points, 50 comments)
    3. With Another $30 Million Investment, BitFury becomes the Highest-funded Bitcoin Company (80 points, 3 comments)
    4. Nigeria's Bitcoin Interest Unwavering Despite Government Crackdown (64 points, 3 comments)
    5. German TV Calls Bitcoin "Digital Gold" (46 points, 3 comments)
    6. A Town in Illinois Just Announced It's Holding a Bitcoin Sale (46 points, 9 comments)
    7. Coinbase CEO: IRS Battle Could Cost Startup $1 Million (43 points, 15 comments)
    8. Xapo Now Licensed to Operate from Switzerland (39 points, 2 comments)
    9. Bitcoin Payments Startup BitPesa Raises $2.5 Million (32 points, 0 comments)
    10. Lawsuit Accuses Bitcoin ATM Owner of Smashing Competing Machines With Hammers (31 points, 18 comments)
  13. 1140 points, 4 submissions: bdd4
    1. sigh (859 points, 189 comments)
    2. As Predicted. 🙄 PBoC (137 points, 86 comments)
    3. Friendly Reminder: Bitcoin is still up 2.6% for the last 30 days (94 points, 8 comments)
    4. Dead Man's Switch for HODLers (50 points, 84 comments)
  14. 1104 points, 3 submissions: Vaultoro
    1. "Great minds discuss ideas; average minds discuss events; small minds discuss people." can we please stop this culture of bashing or lifting cults of personality and get back to science? (807 points, 143 comments)
    2. The house of Nakamoto in the main shopping strip of Vienna gets massive new bitcoin logo signage 2 stories big, 4 times 4 meters of epic propaganda! (265 points, 32 comments)
    3. I saw a post here that little snitch takes bitcoin. I just purchased a copy! Great little app and well worth 30 bucks. (32 points, 9 comments)
  15. 1088 points, 3 submissions: Carlscrazyidea
    1. You can now buy Bitcoin from any 7-11 in the Philippines! (1021 points, 136 comments)
    2. What is my impact as a Bitcoin holder? (41 points, 45 comments)
    3. I am a Hodling noob who still has a lot of Hodling work to do! (26 points, 30 comments)
  16. 1060 points, 7 submissions: Bitcohen
    1. Mercedes Buys Bitcoin Service Provider in 'Digitization Strategy' (518 points, 70 comments)
    2. Mercedes-Benz cars are now being sold for Bitcoin in Venezuela (348 points, 68 comments)
    3. Dutch Pirate Party pays 11,250 Euro deposit in Bitcoin to Electoral Council (68 points, 9 comments)
    4. Amir Taaki & Cody Wilson's Bitcoin support described by film critic as “defense of criminality” at Sundance Film Festival 2017 (44 points, 13 comments)
    5. Russia's Kaliningrad May Trial 'Legal' Bitcoin, Launch Exchange (31 points, 2 comments)
    6. Bitcurex Owner 'Disappears' After Failing to Return 2,300 BTC (26 points, 2 comments)
    7. Liverpool Launches Own Digital Currency Based on Bitcoin's Blockchain Tech - Attracts 3,000 Users in First Month (25 points, 1 comment)
  17. 1009 points, 1 submission: worstkeptsecrets
    1. Bitcoin on NewEgg. 3rd option! Ahead of Credit Card and PayPal! #ITSHAPPENING (1009 points, 92 comments)
  18. 975 points, 1 submission: SooieSide
    1. You can't get to the moon on a roller coaster. (975 points, 73 comments)
  19. 941 points, 4 submissions: Logical007
    1. UPDATE: Nearly all of Circle's 5 Star Ratings have disappeared today for their latest version (Jan 5th). A stark difference to what we saw earlier, looks like action was taken. (633 points, 177 comments)
    2. Bloomberg: Wyre CEO: "Bitcoin is a good investment for everyone." (VIDEO (188 points, 13 comments)
    3. Bitcoin isn't 'real money'. Google, you need to work on your search results. (85 points, 38 comments)
    4. Coinbase, please fix your merchant invoices on iOS 10. They haven't worked properly for months (while BitPay's work perfectly). Details and screenshot inside. (35 points, 5 comments)
  20. 896 points, 1 submission: amendment64
    1. Just paid 23 cents on a $3.74 transaction. When does it end? $1.00 per transaction? $2? $5? I don't wanna stop using this peer to peer currency, but I'm fast being priced out of it. (896 points, 1017 comments)
  21. 884 points, 2 submissions: theswapman
    1. Bitcoiner interrupts Shia LaBeouf's "He Will Not Divide Us" stream with chant that Bitcoin Will Unite Us! (456 points, 204 comments)
    2. PSA: Xapo will freeze your bitcoin and demand documents AFTER you have deposited (428 points, 101 comments)
  22. 820 points, 3 submissions: MorrisMustang
    1. South Florida Distillers uses heat from bitcoin mining to accelerate rum barrel aging! (709 points, 66 comments)
    2. "See, bitcoin is down 9.75% over the past month...I told you it crashed..." says my wife (72 points, 64 comments)
    3. EthereRum by South Florida Distillers, the worlds first rum distilled from mining heat. Stayed tuned for more details. (39 points, 21 comments)
  23. 799 points, 5 submissions: finalhedge
    1. Patrick Byrne (Overstock CEO) on Fox Business Channel today (288 points, 57 comments)
    2. "Sent my first instant bitcoin LN payment to a random irc user on testnet. Second-layer tech for the win!" | Justin Camarena on Twitter (250 points, 64 comments)
    3. Balaji Srinivasan (21 CEO) just deleted his whole tweet history. Heading to the FDA? (137 points, 69 comments)
    4. BARRY SILBERT'S BITCOIN INVESTMENT TRUST FILES FOR IPO (99 points, 10 comments)
    5. Bloomberg: 'Blockchain' Fans Will Have A Rude Awakening In 2017 (25 points, 2 comments)
  24. 798 points, 9 submissions: FluxSeer
    1. Gemini Introduces Zero-Confirmation Bitcoin Deposits (205 points, 69 comments)
    2. Bitcoin Mining Distribution 2012 vs. 2017 (146 points, 69 comments)
    3. When someone says Bitcoin is a ponzi/scam/etc... Send them this link. (131 points, 24 comments)
    4. Developer Release for OpenBazaar 2.0 (123 points, 45 comments)
    5. Federal Reserve Staffer Fined for Mining Bitcoins at Work (62 points, 4 comments)
    6. A Future Led by Bitcoin Unlimited is a Centralized Future (56 points, 38 comments)
    7. Blockstream joins Digital Garage to jointly develop next-generation financial technology (33 points, 15 comments)
    8. Bitcoin Matrix Wallpaper (1920x1080) (23 points, 6 comments)
    9. The ECB Explains Why Central Banks Can't Go Bankrupt (19 points, 7 comments)
  25. 796 points, 1 submission: kidblondie
    1. [AMA] I'm the woman who got pepper sprayed wearing the "Make Bitcoin Great Again" hat. (796 points, 938 comments)
  26. 709 points, 1 submission: silver_89
    1. Liftoff (709 points, 282 comments)
  27. 697 points, 2 submissions: Tfoe1399
    1. Huge shoutout to BTC.com for giving me back my money (666 points, 91 comments)
    2. So this just happened (31 points, 101 comments)
  28. 691 points, 3 submissions: jholmes91
    1. Antonopoulos Supports SegWit, Opens Doors For Lightning and TumbleBit (315 points, 112 comments)
    2. Donald Trump is Considering a Bitcoin Entrepreneur to Lead the FDA (220 points, 137 comments)
    3. Japanese Internet Giant GMO Announces Entrance to Bitcoin Wallet Market (156 points, 14 comments)
  29. 688 points, 2 submissions: belcher_
    1. bitcoin.com loses 13.2BTC trying to fork the network: Untested and buggy BU creates an oversized block, Many BU node banned, the HF fails (543 points, 428 comments)
    2. Segwit talk by Pieter Wuille. 25 minutes talk time (145 points, 21 comments)
  30. 673 points, 9 submissions: Lite_Coin_Guy
    1. Litecoin Moves to Adopt Bitcoin's SegWit Scaling Upgrade (155 points, 86 comments)
    2. If Bitcoin ETF approval ignites speculative rush, doesn't that prove intense latent demand, blocked only by the SEC? (120 points, 22 comments)
    3. Big miners are free to create their Unlimited coin, but if they try to kill Bitcoin it will resist censorship and route around it. (108 points, 103 comments)
    4. What is money? (93 points, 56 comments)
    5. Charlie Shrems next jail time? (50 points, 15 comments)
    6. In 1996 they said the Internet was in need of a "killer app". In 2016, they said #Bitcoin needed a "killer app", too. (39 points, 17 comments)
    7. Introduction to Bitcoin & Blockchains (38 points, 5 comments)
    8. Evaporative Two-Phase Immersion Cooling (Bitfury) (37 points, 6 comments)
    9. Crypto '98 Rump Session- Hal Finney (33 points, 8 comments)
  31. 635 points, 8 submissions: olivercarding
    1. Bitcoin Has Many Fans at Amazon According to Purse CEO Andrew Lee (152 points, 39 comments)
    2. Bitcoin is Closing in On Its Transaction Capacity Limit, For Real This Time (110 points, 155 comments)
    3. The Founder of India-Based Bitcoin Mining Pool GBMiners is Running a Ponzi Scheme (105 points, 50 comments)
    4. How Bitcoin Is Disrupting The Online Gambling Industry (98 points, 74 comments)
    5. Report Estimates There are More Than 10 Million Bitcoin Holders Worldwide (91 points, 54 comments)
    6. Blockchain Announces Expansion in Middle East; Partners with Dubai Government (32 points, 7 comments)
    7. 3 Teams Receive Funding from $1.2 Million Bitcoin Development Grant, More Funds Incoming (27 points, 7 comments)
    8. Digital Garage and Blockstream Collaborate on New Blockchain Solutions for Japanese Market (20 points, 0 comments)
  32. 630 points, 1 submission: classna
    1. FOMO-ing right now (630 points, 85 comments)
  33. 621 points, 7 submissions: _smudger_
    1. Bitcoin: Why It Now Belongs in Every Portfolio (206 points, 33 comments)
    2. Bitcoin ETF may attract $300 million in the first week, says Needham & company (205 points, 103 comments)
    3. It's time to start thinking about denominating Bitcoins in mBTC permanently. Might be the last time to buy some for less than a dollar each! (82 points, 127 comments)
    4. Big China bitcoin exchange says no government pressure on outflows (46 points, 6 comments)
    5. New weekly record in Local Bitcoin volumes plus new highs in Canada, Colombia, Denmark, Saudi Arabia, Thailand and Venezuela (36 points, 1 comment)
    6. Despite the recent drop the price is hitting new records when averaged over a year (24 points, 10 comments)
    7. Press Release: CD Key retailer CJS CD Keys now Accepting Bitcoin (22 points, 3 comments)
  34. 597 points, 1 submission: arichnad
    1. mac has the new bitcoin Unicode character already! (597 points, 81 comments)
  35. 594 points, 1 submission: drvox1600
    1. Bitcoin just hit $1000 USD! :D (594 points, 147 comments)
  36. 573 points, 4 submissions: bitcoinglobe
    1. Japanese internet giant, GMO, entering bitcoin exchange and wallet markets (451 points, 26 comments)
    2. Abra overview (52 points, 22 comments)
    3. Japan Could See 20,000 Bitcoin Accepting Merchants in 2017 - CryptoCoinsNews (44 points, 5 comments)
    4. Bitcoin is gold with a teleporter (26 points, 2 comments)
  37. 567 points, 9 submissions: PrimeParticle
    1. "Introduction to Bitcoin" - Andreas Antonopoulos (Probably one of the best videos for introducing bitcoin). (131 points, 7 comments)
    2. Venezuela's currency now worth so little shopkeepers weigh vast piles of notes instead of counting them (118 points, 42 comments)
    3. Coins are cheaper in China by $30 to $50 dollars for the first time in a long time, that means... (92 points, 87 comments)
    4. Andreas Antonopoulos - The Death of Money | London Real (57 points, 1 comment)
    5. Abra: Bitcoin To Fiat Withdrawals At Tellers Globally! - 2017 North American Bitcoin Conference (47 points, 14 comments)
    6. Remember that you can use CPFP or RBF to get your transactions confirmed faster. (45 points, 46 comments)
    7. Bitcoin Q&A: The Lightning Network & Rootstock (30 points, 1 comment)
    8. Public Perception of Bitcoin is Slowly Shifting Amid Global Financial Turmoil (25 points, 1 comment)
    9. Bitcoin is shrugging off some big news of out of China (22 points, 1 comment)
  38. 561 points, 1 submission: kevsudos
    1. Bitcoin Hodlers Be Like........ (561 points, 96 comments)
  39. 543 points, 1 submission: turn-down-for-what
    1. $1,000! (543 points, 49 comments)
  40. 539 points, 1 submission: BlahYourHamster
    1. [META] Can we use the Bitcoin Rollercoster Guy as the upvote and downvote arrows? (539 points, 49 comments)
  41. 538 points, 7 submissions: themetalfriend
    1. The real superhero (210 points, 15 comments)
    2. Countries where you can survive on Bitcoin (map) (76 points, 88 comments)
    3. How practical is it to live on Bitcoin: historical progress (gif) (63 points, 40 comments)
    4. Among the countries with the strongest Bitcoin adoption: Slovenia, Finland, Singapore, Hong Kong, Canada, Switzerland (63 points, 13 comments)
    5. Long-term bitcoiner checking this sub (51 points, 9 comments)
    6. The complete list of the factors that influence the value of Bitcoin (45 points, 29 comments)
    7. Will Bitcoin work on Mars? (30 points, 41 comments)
  42. 521 points, 2 submissions: roasbeef
    1. Announcing the Alpha Release of the Lightning Network Daemon! (427 points, 152 comments)
    2. Setting up and Testing LND with the Testnet Lightning Faucet (94 points, 7 comments)
  43. 506 points, 1 submission: ToTheMoonGuy
    1. Super Bowl Bitcoin Lady (506 points, 37 comments)
  44. 484 points, 1 submission: ssienk117
    1. My new Phone background. Thanks u/SooieSide/ (484 points, 30 comments)
  45. 472 points, 2 submissions: Wingsuit
    1. I think duck duck go should improve their decimal accuracy (386 points, 41 comments)
    2. Bitcoin achieves leetness in Australia (86 points, 12 comments)
  46. 470 points, 1 submission: robertgenito
    1. The REAL good ol' days of bitcoin... (470 points, 103 comments)
  47. 444 points, 1 submission: loserkids
    1. Bitcoin saved my ass in South East Asia (444 points, 115 comments)
  48. 441 points, 1 submission: boyber
    1. LibreTaxi, free and open source UbeLyft alternative to connect passengers and drivers - bitcoin integration on the way! (441 points, 94 comments)

Top Commenters

  1. nullc (2659 points, 215 comments)
  2. kidblondie (2127 points, 89 comments)
  3. BashCo (1530 points, 293 comments)
  4. dellintelbitcoin (1400 points, 372 comments)
  5. smartfbrankings (1141 points, 265 comments)
  6. belcher_ (1031 points, 149 comments)
  7. Frogolocalypse (986 points, 322 comments)
  8. dan_from_san_diego (949 points, 554 comments)
  9. Cryptolution (851 points, 226 comments)
  10. Vaultoro (822 points, 100 comments)
  11. thieflar (792 points, 231 comments)
  12. Lite_Coin_Guy (748 points, 219 comments)
  13. Cryptoconomy (728 points, 134 comments)
  14. Coinosphere (723 points, 282 comments)
  15. luke-jr (718 points, 141 comments)
  16. waxwing (707 points, 117 comments)
  17. bitsteiner (658 points, 157 comments)
  18. BitttBurger (646 points, 157 comments)
  19. shesek1 (607 points, 132 comments)
  20. pb1x (595 points, 76 comments)
  21. jratcliff63367 (591 points, 45 comments)
  22. supermari0 (587 points, 131 comments)
  23. bitusher (581 points, 96 comments)
  24. 4n4n4 (576 points, 79 comments)
  25. coinjaf (562 points, 225 comments)
  26. glockbtc (541 points, 168 comments)
  27. 45sbvad (539 points, 102 comments)
  28. killerstorm (536 points, 119 comments)
  29. adam3us (527 points, 66 comments)
  30. maaku7 (527 points, 63 comments)
  31. nopara73 (523 points, 120 comments)
  32. phor2zero (499 points, 66 comments)
  33. PrimeParticle (496 points, 108 comments)
  34. sreaka (495 points, 155 comments)
  35. jonny1000 (488 points, 98 comments)
  36. CoinCadence (487 points, 77 comments)
  37. SatoshisCat (480 points, 150 comments)
  38. petertodd (473 points, 24 comments)
  39. spoonfednonsense (472 points, 126 comments)
  40. Hitchslappy (472 points, 102 comments)
  41. albuminvasion (466 points, 84 comments)
  42. Taek42 (456 points, 44 comments)
  43. chrisrico (452 points, 87 comments)
  44. AnonymousRev (451 points, 115 comments)
  45. the_bob (443 points, 114 comments)
  46. satoshicoin (438 points, 65 comments)
  47. Riiume (434 points, 83 comments)
  48. exab (430 points, 125 comments)
  49. jimmajamma (422 points, 141 comments)
  50. brg444 (421 points, 69 comments)

Top Submissions

  1. "R.I.P. Bitcoin. It's Time to Move On"....funny billboard driving around in Miami by futureofeverything (3136 points, 227 comments)
  2. Clearly not mainstream yet by tuqqs (2808 points, 104 comments)
  3. Countdown: Bitcoin Will Be a Legal Method of Payment in Japan in Two Months by helmsk (2316 points, 151 comments)
  4. Internet Archive: $3000 donated anonymously to the @internetarchive in bitcoin just now. Made our day! Thank you! by bahatassafus (1941 points, 31 comments)
  5. Welcome to Bitcoin, everyone. Don't worry, he'll recover. by Pizpie (1353 points, 155 comments)
  6. Deutsche Bank - More than $10 billion in transactions never appeared on the books. That's why banksters don't want to use public blockchains. by kynek99 (1338 points, 96 comments)
  7. Julian Assange just used the current block hash as proof-of-not-prerecorded-interview in his AMA by umbawumpa (1294 points, 182 comments)
  8. When you ride the bitcoin rally by Butt_Cheek_Spreader (1189 points, 204 comments)
  9. what it'll look like, when it happens by tuqqs (1124 points, 195 comments)
  10. You can now buy Bitcoin from any 7-11 in the Philippines! by Carlscrazyidea (1021 points, 136 comments)

Top Comments

  1. 380 points: Tyatku's comment in When you ride the bitcoin rally
  2. 340 points: Vaultoro's comment in Just paid 23 cents on a $3.74 transaction. When does it end? $1.00 per transaction? $2? $5? I don't wanna stop using this peer to peer currency, but I'm fast being priced out of it.
  3. 323 points: jamesdpitley's comment in "R.I.P. Bitcoin. It's Time to Move On"....funny billboard driving around in Miami
  4. 290 points: Clutch70's comment in Clearly not mainstream yet
  5. 212 points: BitcoinDreamland's comment in South Florida Distillers uses heat from bitcoin mining to accelerate rum barrel aging!
  6. 206 points: bitpotluck's comment in FOMO-ing right now
  7. 195 points: howardkinsd's comment in Clearly not mainstream yet
  8. 182 points: beloboi's comment in "R.I.P. Bitcoin. It's Time to Move On"....funny billboard driving around in Miami
  9. 181 points: BattleChimp's comment in "R.I.P. Bitcoin. It's Time to Move On"....funny billboard driving around in Miami
  10. 179 points: kidblondie's comment in [AMA] I'm the woman who got pepper sprayed wearing the "Make Bitcoin Great Again" hat.
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Bitcoin - YouTube Bitcoin Ethereum Litecoin Ripple Binance Technical Analysis Chart 9/4/2019 by ChartGuys.com Bitcoin - payment system. Bitcoin price and predictions for BTC this chart shows when bitcoin could reach $1 million Combating the Coronavirus (w/ Balaji Srinivasan)

Balaji Srinivasan, the co-founder and CEO of 21 inc. speaks about the future of bitcoin and blockchain technology in an interview at WSJD2015 conference. Wed. Sep 23rd, 2020 ; Bitcoin; Crypto Tech; Cryptocurrency; About Us; Contact Us; Balaji Srinivasan CHARTS; Updated news about bitcoin and all cryptocurrencies. Coinbase Acquires Earn.com, Hires Superstar CTO Balaji Srinivasan . In its continued effort to dominate the United States’ blockchain industry, popular cryptocurrency exchange Coinbase has officially acquired Earn.com — a paid inbox service and popular social network which affords users the ability to earn, spend, and donate ... Balaji Srinivasan Demand for Charter Cities During Covid-19 Pandemic Grows Exponential – People Desire Semi-Autonomous Zones June 17, 2020 Coinbase's Balaji Srinivasan Expresses Optimism on Bitcoin, Cryptocurrencies and Blockchain. by James W. November 7, 2018 . Home Exchanges Coinbase. Facebook. Twitter. Telegram. ReddIt. Linkedin. Email. The Chief technical Offers at Coinbase and a well-known venture capital investor, Balaji Srinivansan, recently showed optimism on cryptocurrencies, saying that crypto is entering the technology ...

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Bitcoin - YouTube

Balaji Srinivasan is a highly accomplished investor, entrepreneur, executive, and academic. In this conversation with Real Vision’s Ash Bennington, Srinivasan unpacks his tech-centric view of ... G20 Koalition - DAS ERGEBIS - Wie geht es jetzt weiter?! Melchionda Network "Es müsste gewährleistet seiin, dass ditiales Geld nicht die Finanzstabilität gef... Skip navigation Sign in. Search "People don't realize how close the tech is to being ready" - Vitalik & Balaji Srinivasan at ETHSF - Duration: 55 ... Bitcoin + Alts Price Chart & Analysis (June 16th, 2020) - Duration: 11:16 ... Here are the experts talking about the most valuable cryptocurrency - BITCOIN: - Eric Benz - Managing Director Cryptopay - Adam Cleary - CEO, Cavenham Capital - Eddy Travia - CEO, Coinsilium ...

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