When the SPAC met the blockchain FT Alphaville

Bitcoin Trading Analysis, Discussion and Education

This subreddit is for the the discussion and technical analysis of the bitcoin market. It is #1 a place for people to learn how to analyze and interpret the bitcoin market and #2 a place for people to discuss the technical aspects of the bitcoin market. This sub will be HEAVILY moderated. This is not a sub for memes and any comments that do not contribute to a posted discussion will be deleted.
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Brasil Bitcoin

**BRASIL BITCOIN** Notícias, perguntas, descubra, denuncie. Tudo sobre **Bitcoin** aqui e no mundo. Bitcoin é a moeda da Internet: um dinheiro descentralizado e com alcance mundial. Diferente das moedas tradicionais como o dólar, os bitcoins são emitidos e gerenciados sem qualquer autoridade central que seja: não existe governo, empresa ou banco no comando do Bitcoin. Dessa forma ele é mais resistente a inflações selvagens e bancos corruptos. Com o Bitcoin, você pode ser seu próprio banco.
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Crowdsourcing, Become a beggar, Donate, HELP THE BITCOIN ECONOMY

As the title describes. I'm going to get alot of downvotes but if anyone receives even a few bitcents I guess it helped the bitcoin economy somehow Leave your crowdsource ideas, ask for a little mBTC, spread your generosity to help the bit-conomy thrive
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The highlight of the trading terminal OOOBTC is an interactive chart with the support of the main indicators. The exchange supports only market type orders. In addition, there is no margin trading. #Ooobtc #obx #crypto #bitcoin #ethereum #blockchain #btc #toqqn

submitted by mkristen024 to coinhive [link] [comments]

The highlight of the trading terminal OOOBTC is an interactive chart with the support of the main indicators. The exchange supports only market type orders. In addition, there is no margin trading. #Ooobtc #obx #crypto #bitcoin #ethereum #blockchain #btc #toqqn

[ooobtc](wwe.ooobtc.com)
submitted by mkristen024 to ICOCryptoInfo [link] [comments]

Dear Blockchain, please fix your charts, it's quite important that the Bitcoin market cap doesn't display as 0.

Dear Blockchain, please fix your charts, it's quite important that the Bitcoin market cap doesn't display as 0. submitted by LevelUp100 to Bitcoin [link] [comments]

There are charts of daily Bitcoin *market* volume. Are there any of *on the blockchain* volume?

https://data.bitcoinity.org/markets/volume/30d?c=e&t=b is an example of a chart that adds up trades claimed by exchanges, and it's considerable. But I'm pretty sure nearly none of that touches the blockchain. Is there a similar summary of on-chain transaction total value?
submitted by dgerard to Buttcoin [link] [comments]

Bitcoin and blockchain market charts /forum.bitcoin.com

Bitcoin and blockchain market charts /forum.bitcoin.com submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Discussion • Bitcoin and blockchain market charts

submitted by btcforumbot to BtcForum [link] [comments]

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

The Reddit Bake-Off, Reddit-wide tokenization, and where NANO fits in the future of digital exchange.

I first learned about Bitcoin from a person I met at an interview in late 2017. My primary interest was Bitcoin, but at the time I saw how much profit early Ethereum adopters yielded and I envied them for finding such a successful project in its early stages. My first investment in cryptocurrency was Litecoin. I was attracted to the fact that, although it was essentially the same as Bitcoin, it was faster and slightly less expensive. I dove in and I got rekt.
As time went on I began to do research on different coins. I found Binance and started exploring alts. I'd look at the Binance chart, pick a coin, Google it, read their whitepaper (since I didn't understand the code, eventually I just judged a whitepaper by its aesthetic), and ultimately I would end up on their subreddit. That's how I found CryptoCurrency.
At some point in my journey, a new wave of confidence entered the market. People started talking in the Daily about a new coin that appeared on some weird exchange whose named I had never heard. They said it was instant and free and that it was the absolute epitome of what Bitcoin was meant to be.
Countless users suggested this coin would absorb the entire market cap of Bitcoin.
Its name was strange, RaiBlocks (XRB). I had bought in around $20 at the time the price went from $0-38 in a couple of weeks. Everyone was enthusiastic about the bull run, but it was the technology and its potential for worldwide application that people were excited about most.
Welp, some bad press and a couple of years later and we are now in the depths of obscurity and any mention of NANO in the Daily on CryptoCurrency, the same sub that birthed its popularity in the first place, is chastised. I sadly watched as NANO lost its clout and with it its price. Eventually, BrainBlocks died, which was my favorite project of all, and I exited completely. I even removed NANO from my watchlists because I knew if I saw it I would buy back in.
NANO fell off my radar entirely for about 4 months while I dove head first into DeFi. However, last night I saw the charts looking favorable for a breakout, so I re-entered. Then today as Bitcoin pumped and every other alt dumped, NANO miraculously jumped. I figured the trading bots still oddly tie NANO to Bitcoin and after seeing NANO as the only successful coin in a sea of red, I came back. I also thought maybe the developers knew something we didn't, and the price was increasing before something big was about to happen, but that's just wishful thinking.
Right now, the most exciting corner of the cryptocurrency space is far and away the fact that Reddit is now heavily involved in the future of cryptocurrency integration:
  1. The Great Reddit Scaling Bake-Off is a competition hosted by Reddit to help scale Ethereum well enough to efficiently manage the complete tokenization of Reddit.
  2. As an experiment, Reddit has begun given tokens to posters/commenters at two subreddits for upvoted content: Moons and Bricks at CryptoCurrency and FortNiteBR, respectively.
A user was even able to bridge Moons and Bricks to equivalent tokens on the xDai Network (xMOON and xBRICK), and are literally tradable. For example, I earned 425 moons last month and I bridged them to xMOON and traded them for ETH on Honeyswap. I earned ERC-20 tokens from Reddit, bridged them to another network, and sold them. This, ladies and gentlemen, is not only the beginning of the tokenization of Reddit. This is going to be the beginning of tokenization of everything.
NANO is faster and feeless. An infinite number of blockchains can be created on the block lattice. A community member even generated a Moons to NANO converter, right?
My question is: Is it possible for NANO to bridge ERC-20 and ERC-677 tokens from the Ethereum network to NANO sidechain equivalents. Fore example, NANOETH, NANOLINK, etc.? Why can't NANO participate in the Bake-Off and develop a protocol that bridges NANO and other tokens via sidechains? Is it possible to create a token for every single subreddit and have them run simultaneosly the NANO network? Why isn't NANO in the discussion for this and why haven't we entered the Bake-Off? Is this not the best use case for NANO and the best place to implement the protocol?
To be quite honest, I am back because I think NANO will succeed in some way and I imagine the developers have a plan for marketing with the next hype wave in cryptocurrency. However, if that is not the case, then this project is missing a serious opportunity to become a part of perhaps the single most important incoming disruptor in the cryptocurrency space and economics, err, soon-to-be tokenomics of our society.
People once thought this coin would absorb the entire market cap of Bitcoin, but it's been 3 years and other projects have gained traction and now the spotlight is on Ethereum. Yes, there will never be another coin as fast or as free as NANO, but there needs to actually be use for it for it to become valuable and have a place in the future.
Thanks for reading!
tl;dr - Reddit is tokenizing all subreddits and is actively hosting a competition in order to try to find the solution to Ethereum scaling, called the Bake-Off. I want to know if it is possible for NANO to participate in the Reddit Bake-Off and use its protocol to tokenize Reddit.
submitted by fatal_music to nanocurrency [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

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]

Why Bitcoin is Superior to Gold

There is a constant war being fought between goldbugs, like Peter Schiff, and Bitcoin enthusiasts so I decided to make an outline, with links, comparing and contrasting gold and Bitcoin. I made this in November of 2019 (thus the information therein is based on figures from that time) but, being scatter brained, neglected to post this for the Bitcoin community to see. The yardsticks I used to compare the two assets included the following: shipping/transactions costs, storage costs, censorship factor, settlement time, stock to flow, blockchain vs clearing house, validation, etc. I will also touch on Roosevelt's gold confiscation executive order in 1933, transporting gold during the Spanish Civil War in 1936, and the hypothetical cost for Venezuela to repatriate its gold more recently.
I will provide a brief summary first then follow that with the outline I made. This information can be used as a tool for the Bitcoin community to combat some of the silly rhetoric coming from goldbugs such as Peter Schiff and James Rickards. I would like to make it clear, however, that I am not against gold and think that it performed its role as money very well in a technologically inferior era, namely Victorian times but I think Bitcoin performs the functions of money better than gold does in the current environment.
I have been looking to make a contribution to the Bitcoin community and I hope this is a useful and educational tool for everyone who reads this.
Summary:
Shipping/transaction costs: 100 ounces of gold could be shipped for 315 dollars; the comparable dollar value in Bitcoin could be sent for 35 dollars using a non-segwit address. Using historical precendent, it would cost an estimated $32,997,989 to transport $1 billion in gold using the 3.3% fee that the Soviets charged the Spaniards in 1936; a $1 billion Bitcoin transaction moved for $690 last year by comparison. Please note that the only historic example we can provide for moving enormous sums of gold was when the government of Spain transported gold to Moscow during the Spanish Civil War in 1936. More information on this topic will be found in the notes section.
Storage costs: 100 ounces of gold would require $451 per year to custody while the equivalent value of Bitcoin in dollar terms could be stored for the cost of a Ledger Nano S, $59.99. $1 billion USD value of gold would cost $2,900,000 per year while an Armory set up that is more secure would run you the cost of a laptop, $200-300.
Censorship factor: Gold must pass through a 3rd party whenever it is shipped, whether for a transaction or for personal transportation. Gold will typically have to be declared and a customs duty may be imposed when crossing international borders. The key take-away is gatekeepers (customs) can halt movement of gold thus making transactions difficult. $46,000 of gold was seized in India despite the smugglers hiding it in their rectums.
Settlement time: Shipping gold based on 100 ounces takes anywhere from 3-10 days while Bitcoin transactions clear in roughly 10 minutes depending on network congestion and fee size.
Historic confiscation: Franklin Roosevelt confiscated and debased the paper value of gold in 1933 with Executive Order 6102. Since gold is physical in nature and value dense, it is often stored in custodial vaults like banks and so forth which act as a honeypot for rapacious governments.
Stock to flow: Plan B's stock to flow model has become a favorite on twitter. Stock to flow measures the relationship between the total stock of an asset against the amount that is produced in a given year. Currently gold still has the highest value at 62 while Bitcoin sits at 50 in 2nd place. Bitcoin will overtake gold in 2024 after the next halving.
Blockchain vs clearing house: gold payments historically passed through a 3rd party (clearinghouse) in order to be validated while Bitcoin transactions can be self validated through the use of a node.
Key Takeaway from above- Bitcoin is vastly superior to gold in terms of cost, speed, and censorship resistance. One could theoretically carry around an enormous sum of Bitcoin on a cold card while the equivalent dollar value of gold would require a wheelbarrow...and create an enormous target on the back of the transporter. With the exception of the stock to flow ratio (which will flip in Bitcoin's favor soon), Bitcoin is superior to gold by all metrics covered.
Notes:
Shipping/transaction costs
Gold
100 oz = 155,500. 45 x 7 = $315 to ship 100 oz gold.
https://seekingalpha.com/instablog/839735-katchum/2547831-how-much-does-it-cost-to-ship-silver-and-gold
https://www.coininvest.com/en/shipping-prices/
211 tonnes Venezuela; 3.3% of $10.5 billion = 346,478,880 or 32,997,989/billion usd
http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/ (counter party risk; maduro; quotes from article)
Bitcoin
18 bitcoin equivalent value; 35 USD with legacy address
https://blockexplorer.com/
https://bitcoinfees.info/
1 billion; $690 dollars
https://arstechnica.com/tech-policy/2019/09/someone-moved-1-billion-in-a-single-bitcoin-transaction/
Storage costs
Gold
.29% annually; https://sdbullion.com/gold-silver-storage
100 oz – $451/year
$1 billion USD value – $2,900,000/year
Bitcoin
Ledger Nano S - $59.00 (for less bitcoin)
https://shop.ledger.com/products/ledger-nano-s/transparent?flow_country=USA&gclid=EAIaIQobChMI3ILV5O-Z5wIVTtbACh1zTAwqEAQYASABEgJ5SPD_BwE
Armory - $200-300 cost of laptop for setup
https://www.bitcoinarmory.com/
Censorship factor (must pass through 3rd party)
Varies by country
Gold will typically have to be declared and a customs duty may be imposed
Key take-away is gatekeepers (customs) can halt movement of gold thus making transactions difficult
$46,000 seized in India
https://www.foxnews.com/travel/indian-airport-stops-29-passengers-smuggling-gold-in-their-rectums
Settlement time
Gold
For 100 oz transaction by USPS 3-10 days (must pass through 3rd party)
Bitcoin
Roughly 10 minutes to be included in next block
Historic confiscation-roosevelt 1933
Executive Order 6102 (forced spending, fed could ban cash, go through and get quotes)
https://en.wikipedia.org/wiki/Executive_Order_6102
“The stated reason for the order was that hard times had caused "hoarding" of gold, stalling economic growth and making the depression worse”
Stock to flow; https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25 (explain what it is and use charts in article)
Gold; SF of 62
Bitcoin; SF of 25 but will double to 50 after May (and to 100 in four years)
Blockchain vs clearing house
Transactions can be validated by running a full node vs. third party settlement
Validation
Gold; https://www.goldismoney2.com/threads/cost-to-assay.6732/
(Read some responses)
Bitcoin
Cost of electricity to run a full node
Breaking down Venezuela conundrum; http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/
“The last (and only) known case of this kind of quantity of gold being transported across state lines took place almost exactly 75 years ago, in 1936, when the government of Spain removed 560 tons of gold from Madrid to Moscow as the armies of Francisco Franco approached. Most of the gold was exchanged for Russian weaponry, with the Soviet Union keeping 2.1% of the funds in the form of commissions and brokerage, and an additional 1.2% in the form of transport, deposit, melting, and refining expenses.”
“Venezuela would need to transport the gold in several trips, traders said, since the high value of gold means it would be impossible to insure a single aircraft carrying 211 tonnes. It could take about 40 shipments to move the gold back to Caracas, traders estimated. “It’s going to be quite a task. Logistically, I’m not sure if the central bank realises the magnitude of the task ahead of them,” said one senior gold banker.”
“So maybe Chávez intends to take matters into his own hands, and just sail the booty back to Venezuela on one of his own naval ships. Again, the theft risk is obvious — seamen can be greedy too — and this time there would be no insurance. Chávez is pretty crazy, but I don’t think he’d risk $12 billion that way.”
“Which leaves one final alternative. Gold is fungible, and people are actually willing to pay a premium to buy gold which is sitting in the Bank of England’s ultra-secure vaults. So why bother transporting that gold at all? Venezuela could enter into an intercontinental repo transaction, where it sells its gold in the Bank of England to some counterparty, and then promises to buy it all back at a modest discount, on condition that it’s physically delivered to the Venezuelan central bank in Caracas. It would then be up to the counterparty to work out how to get 211 tons of gold to Caracas by a certain date. That gold could be sourced anywhere in the world, and transported in any conceivable manner — being much less predictable and transparent, those shipments would also be much harder to hijack. How much of a discount would a counterparty require to enter into this kind of transaction? Much more than 3.3%, is my guess. And again, it’s not entirely clear who would even be willing to entertain the idea. Glencore, perhaps?”
“But here’s one last idea: why doesn’t Chávez crowdsource the problem? He could simply open a gold window at the Banco Central de Venezuela, where anybody at all could deliver standard gold bars. In return, the central bank would transfer to that person an equal number of gold bars in the custody of the Bank of England, plus a modest bounty of say 2% — that’s over $15,000 per 400-ounce bar, at current rates. It would take a little while, but eventually the gold would start trickling in: if you’re willing to pay a constant premium of 2% over the market price for a good, you can be sure that the good in question will ultimately find its way to your door. And the 2% cost of acquiring all that gold would surely be much lower than the cost of insuring and shipping it from England. It would be an elegant market-based solution to an artificial and ideologically-driven problem; I daresay Chávez might even chuckle at the irony of it. He’d just need to watch out for a rise in Andean banditry, as thieves tried to steal the bars on their disparate journeys into Venezuela.”
submitted by cornish_roots to Bitcoin [link] [comments]

Let's talk about Bitcoin price volatility.

The idea of that as more people adopt Bitcoin the price will stabilize to its long term exponential curve.
Here's why I think that's true.
  1. We're already seeing this. Check out the price charts to confirm.
  2. It makes sense. The ratio of seasoned Bitcoiners to new investors increases over time. N00bs are far more likely to panic sell for a loss. So as more and more Bitcoin users develop their strong aversion to selling, the sharp downward swings (caused by panic selling n00bs) are reduced in severity and frequency.
  3. Plus now we have larger, more wealthy entities who buy the dip. Microstrategy already publicly announced that they're doing this. So large dips are cut off before they gain any momentum. You'll only see large downward swings if someone cashes out a few million dollars in BTC all at once. But the severity of those dips will be blunted.
  4. Regular buyers: Grayscale Bitcoin Trust alone is buying more than 100% of the newly mined Bitcoins. Where do you think the extra Bitcoin is coming from? (BTW glorious nation of Kazakhstan just invested $700,000,000 in Bitcoin mining gear). Eventually this pool of existing Bitcoin that they're buying from will dry up more and more. That's without even considering the massive effect that the 4 year halving cycle creates.
  5. At the next halving 31months from now, the amount of new Bitcoin created gets cut in half again for the 4th time. This will run the well even drier. Let's say Grayscale continues to buy the same amount (even though they will definitely keep increasing their investment and other players will join in too). The faster the reserve of already existing Bitcoin is getting bought up, the faster the price goes up. The halvings increase this every 4 years.
It is an absolute certainty that Bitcoin will outperform every alternative investment and one day replace or completely dominate every other type of money.
And for the Bitcoin scaling issue, the lightning network has already solved that. It does a million transactions per second, and has the capacity to send 10 BTC at once, instantly, for a few Satoshis (practically free). The Bitcoin blockchain will always run right about at capacity. The lightning network has private transactions. How do we know that Bitcoin together with Bitcoin lightning aren't doing as much business as Visa?
There is no limit for how high Bitcoin will go.
Compare this with TSLA. Today they have a P/E ratio of 1145. Many will consider this to be overvalued. That limits how high the stock price can go. Plus, you can't spend stock. You HAVE TO sell it first.
Bitcoin has no such limits. The price of Bitcoin can and will continue to go up exponentially over the long term. As volatility improves, the pace of price increase should increase as well. Accelerating acceleration. You never need to sell Bitcoin. Just spend it, unlike stocks or other financial instruments.
Eventually, after 6 or 7 more halvenings, Bitcoin will have a market cap of higher than the rest of the world's wealth combined. Every step is there between here and then. Eventually government created fiat money will be nearly entirely worthless by comparison.
This halving period will create another bull run as more institutional investors adopt the hold forever strategy. Volatility goes down. Bitcoin becomes more famous for its performance, draws deeper attention, converts more believers/investors, more people hold forever, Bitcoin price goes to infinity with no limit. It's just a matter of time.
Bitcoin is the most genius thing I've ever seen.
submitted by BlandTomato to Bitcoin [link] [comments]

Daily Discussion - January 10, 2020 (GMT+0)

Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.

Disclaimer:
Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

Rules:
  • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
  • Discussion topics must be related to cryptocurrency.
  • Comments will be sorted by newest first.

To see prior Skeptics Discussions, click here.
submitted by AutoModerator to CryptoCurrency [link] [comments]

Some suggestions for crypto reading material.

https://bitcoin.org/bitcoin.pdf
I’m posting it because if you haven’t yet I think it’s important that everyone does. Save it, when you have time take a read. A lot of people jump into crypto only looking at charts, price and market cap. I think it’s important to understand the origins of it, not in a biblical sense like some people take it. Satoshi was a revolutionary thinker that changed the world forever. The philosophy behind crypto is subtly embedded in the bitcoin white paper and I get the sense that sometimes the true meaning behind crypto is forgotten, the philosophical value.
While we are on the topic the Ethereum white paper is too long and technical to be considered a must read. You can get the understanding by reading the introduction, bitcoin comparison section and the conclusion. I will post that as well for comparison.
https://ethereum.org/en/whitepape
If you’ve gotten through those and you’re an avid reader I have a few books I would recommend.
Bitcoin Billionaires was a very good book. Highly entertaining while also helpful to understand the story of Bitcoin. While told focused around the Winklevii who better to be the focus than the biggest whales in the game. Everything from Facebook, Mt Gox, parties, court rooms, prison and a success story for not only the Winklevoss twins but the story of the success of Bitcoin.
https://www.goodreads.com/book/show/41433284-bitcoin-billionaires
The Infinite Machine is sort of the equivalent for Ethereum. It is all about the origin story of Ethereum from birth to boom including the known characters and some connections maybe unknown to some. I would actually suggest reading this instead of the white paper. Camila Russo does a great job breaking it down in a way that can be understood. I also follow her Defi podcast The Defiant.
https://www.goodreads.com/book/show/50175330-the-infinite-machine?ac=1&from_search=true&qid=W903QklCOW&rank=2
Mastering Monero, opinions of the coin aside, is very much worth reading. You will have a better understanding of privacy as a whole, not just privacy of Monero. From banking system explanations to dark web usage, or lack thereof, is covered in the book. It’s written by Monero users for Monero users and non Monero users. The Bitcoin mentions in the book aren’t FUD but instead written factually. It’s an easy enough read and it’s also available free or by donation. I donated for it but the PDF isn’t hard to get to.
https://masteringmonero.com/free-download.html
For the futurists, the dreamers and the hopefuls there is Blockchain 2025 written by Jared Tate. He speaks his mind and is honest as the sky is blue. He wrote the book not to promote DGB but moreso to discuss the role of blockchain beyond just cryptocurrency in the future. I’ve only just started it but so far it’s a good read.
https://blockchain2035.com/
Another one, not crypto related, is The Wolf Of Wall Street by Jordan Belfort. “People don’t buy stock; it gets sold to them. Don’t ever forget that.” I also always reflect on the Mathew McConaughey movie monologue when I read the expert traders or see them on YouTube. It’s valuable to understand how the sharks in the system feed on the minnows.
Do you have any reading suggestions?
submitted by ethereumflow to u/ethereumflow [link] [comments]

Quick list of the most useful data resources in crypto

Compiled by the Messari Research team:
Dune Analytics - provides a number of pre-set sector and project specific dashboards on key metrics needed to assess the health of the industry. Create custom dashboards with SQL by directly querying the Ethereum blockchain.
Nansen - On-chain analysis providing various sector and project specific dashboards. Specifically useful for tracking behavior of specific ERC-20 movements from exchanges, unique addresses and large holders.
Token Terminal - Great for comparing traditional financial metrics like revenue generated by various protocols. Useful for generating relative valuation comparisons.
DeFi Pulse - DeFi Pulse’s Total Value Locked (TVL) metric has become the de facto approximation of the size of DeFi, calculated by summing all collateral locked in a given protocol.
Etherscan - Ethereum’s tried and true block explorer. Use cases include checking the status of current on-chain transactions, looking through historical transactions, viewing top holders of a certain token, and monitoring gas fees.
CoinMetrics - Broad range of on-chain, price, volume, mining, and supply data points for almost all major blockchains.
Glassnode - Multi-purpose data provider offering an array of charts and dashboards like “whale watching” chart that shows the number of addresses holding more than 1,000 BTC.
IntotheBlock - Another on-chain/market analytics tool great for conducting due diligence. Offers unique charts that show, for example, order book market depth.
Skew - The place for derivative data across bitcoin and ethereum futures and options, useful for analyzing crypto market structure during stress tests like Black Thursday.
Messari - The core screener tools allow me to keep up with short and long term price movements. The reports we’ve compiled are also great for tracking leading crypto funds.
The charting tool is great for tracking year-to-date performance:
More on using each resource here
submitted by CryptigoVespucci to ethereum [link] [comments]

What is your Bitcoin Maturity Score?

How many of the 25 steps in the bitcoin rabbit hole have you mastered? Be honest. Count how many and divide your score by 2.5.
Your Score: <5: learner / weak hands 5-7: hodler 8-9: mature 10: orange pilled
Post your result below.
The Bitcoin Journey: 1. That (log) price chart! 🧐 2. Digital scarce? 🤔 3. Satochi 4. Blockchain 5. Alts 6. Mining, halvings, diff adjustment 7. How do I get it? 8. Wallets, keys, seeds, exchanges 9. Crypto Twitter 10. Fees, hashrate, mempool, txs 11. Money, inflation, central banks 12. Stocks, S&P500, 13. Charts, TA, RSI, MA’s, triangles, patterns 🤓 14. Keynes, Austrian economics 15. Bull/bear market, trading, win/lose 16. Network effects & adoption 17. Gold, Silver, real estate 18. Full node, electrum pvt server 19. Evangelize / orange pilled 💊 20. All-in / auto-dca 21. Immaculate conception 22. NGU, game theory 23. Cosmic renaissance 24. Opsec, multisig 25. Maximalism
Let me know your score & what’s missing from your journey. Also accepting suggestions for better results categories/ descriptions.
submitted by mbrookson to Bitcoin [link] [comments]

Bitcoin.com Exchange Announces Public Sale of the Atari Token on October 29, 2020 (current BTC/USD price is $11,337.35)

Latest Bitcoin News:
Bitcoin.com Exchange Announces Public Sale of the Atari Token on October 29, 2020
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

Global Bitcoin transaction Market 2020 by type, by application with Binance, Upbit, OKEx, Bithumb ... (current BTC/USD price is $13,575.79)

Latest Bitcoin News:
Global Bitcoin transaction Market 2020 by type, by application with Binance, Upbit, OKEx, Bithumb ...
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

The $750 Million Pre-Halloween Bitcoin Options Expiry Has Started to Spook Traders (current BTC/USD price is $13,814.19)

Latest Bitcoin News:
The $750 Million Pre-Halloween Bitcoin Options Expiry Has Started to Spook Traders
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

Bitcoin bull cycle gaining steam: Whale cluster at $13K is now a support zone (current BTC/USD price is $13,322.54)

Latest Bitcoin News:
Bitcoin bull cycle gaining steam: Whale cluster at $13K is now a support zone
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

Kanye West Reveals The True Liberation Of America Could Be Bitcoin (current BTC/USD price is $13,715.41)

Latest Bitcoin News:
Kanye West Reveals The True Liberation Of America Could Be Bitcoin
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

Bitcoin on Pace for Highest Close in Almost 3 Years as JPMorgan Joins the Crypto Club (current BTC/USD price is $13,683.60)

Latest Bitcoin News:
Bitcoin on Pace for Highest Close in Almost 3 Years as JPMorgan Joins the Crypto Club
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

EASY Way To Read Bitcoin Charts - BTC Technical Analysis ... Less Than 100 DAYS Until the BITCOIN BLOCK HALVING! Why Isn’t Ripple XRP PRICE CHART MOONING Yet? BITCOIN MARKET UPDATE  BTC Trading Technical Analysis  Stock Markets THE BIG MOMENT as Altcoin Market Cap Hits 70.2% Retrace and RIPPLE XRP Prepares for LAUNCH INSANE RECORD SETTING BUY VOLUME Shows Up on the Ripple XRP PRICE CHART and Crypto Markets

Bitcoin and Crypto Markets Unfazed by Series of Shocking News Events. by Daily Hodl Staff. October 4, 2020 . in Bitcoin, Trading ‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎ ADVERTISEMENT. Crypto insiders are noticing Bitcoin’s resilience as it withstands wave after wave of news events carrying bearish implications. In a new tweet, Dovey Wan, the founding partner of blockchain-focused investment ... Find the top cryptocurrency's market data including price charts and price lookup, market cap, return on investments, and digital currency news. Keep up to date on what's happening with bitcoin, ethereum, ripple, bitcoin cash, and more. Bitcoin price today is $13,073.32 USD with a 24-hour trading volume of $23,603,626,066 USD. Bitcoin is up 0.48% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $242,210,721,011 USD. It has a circulating supply of 18,527,100 BTC coins and a max. supply of 21,000,000 BTC coins. You can find the top exchanges to trade Bitcoin listed on our PwC: blockchain potentially has LOADS of potential Getting to grips with 2020, one chart crime at a time The trinity of financial innovation: debt, equity and ICOs Create your own live charts with our Bitcoin charts and statistics API. Get access to live Bitcoin data with the Blockchain API today.

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EASY Way To Read Bitcoin Charts - BTC Technical Analysis ...

In this video I discuss the state of the market by reviewing the digital asset charts. First, we review the Bitcoin block halving, followed by the Bitcoin price chart. The BTC chart shows us that ... In this video I analyze the Ripple XRP chart and the Bitcoin chart to show that record setting amounts of buy volume swallowed the sell volume when the markets capitulated on March 12th and 13th. In this video I analyze the wall street cheat sheet vs the crypto market, including all assets as an index, rather than just individual coins. We take a look at the NASDAQ chart, the XRP price ... Bitcoin market and trading analysis with Jimbo ----- #Bitcoin #Cryptocurrency #Blockchain #BTC #ETH #Enjin #Tomochain #Crypto.com #Electroneum #Cardano -... In this video I review the historic chart of Bitcoin to see that BTC is actually at it's fair value when we look at historical chart corrections. Currently, the XRP chart is following Bitcoin's ...

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