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Tell us what you know about Bitcoin and other Cryptocurrencies using Blockchain technologies

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  1. What's new in this club
  2. A server or storage device that stores the entire blockchain and runs Bitcoin client software that checks all transaction data and the blockchain for compliance with the Bitcoin protocol. Online payment options have changed the way companies conduct business with their customers and customers, and today, almost every online order is quick and easy. online-stock-exchange.com - online-stock-exchange.com not only gives regular users the opportunity to buy and sell Bitcoin through their credit cards and bank accounts, but also a dealer service.
  3. @admin did the Simpsons explained well? Because I understood it 😆
  4. In a time of global pandemic, which has the potential to becoming global anarchy, I seriously doubt that an intangible such as a cryptocurrency will have any value when the global Internet collapses for most users. Gold will not have any value, either, because you cannot eat gold. If I had the kind of money people invest in cryptocurrencies, and gold, etc. I would invest in small useful things that will ALWAYS have value, no matter how bad things get. That is why I recommend investing in cans of tuna fish .... and 12 gauge shotgun shells.
    • Hello guest!
    After congratulating Satoshi on the launch of the Bitcoin 0.1, Hal Finney wrote as part of what he termed an ‘amusing thought experiment,’ Putting numbers into perspective, Hal Finney added, " Either way, the now-deceased genius programmer although at that point saw Bitcoin’s potential, may not have believed it would reach its current level of success for he also said in that email that the chance of Bitcoin succeeding was ‘very slim.’ "
  5. So if I understand it after two or three times reading about it, does it mean that I am not an average person? 🤭😃
  6. The average person needs to see something about 9 times before it reaches the brains consideration zone, which is why companies bombard us with advertising non stop... Eventually it works
  7. "The reason it's so hard for most people to understand is that most people don't really understand money. Money isn't wealth. It's an accounting system used to facilitate the exchange of wealth. (The paradox of money is that while everyone wants it, no one actually wants it - they want the stuff they can buy with it!) Many people are put off by the fact that Bitcoins are 'just data'. But that's what ALL money is, information! More precisely, money is a means for credibly conveying information about value given but not yet received (or at least not yet received in a form in which it can directly satisfy a person's wants or needs). To put it yet another way, money is a ledger. With fiat currencies like the dollar, that ledger is centralized. And that gives the central authority responsible for maintaining that ledger tremendous power, power that history has proven will inevitably be abused. With Bitcoin, the ledger is decentralized. And that means that no one individual or entity has the power to arbitrarily create new units (thereby causing inflation), freeze (or seize) your account, or block a particular payment from being processed. We've had decentralized money before. After all, no one can simply print new gold into existence. And the 'ledger' of gold is distributed because the physical gold itself (the 'accounting entries' in the metaphor) is distributed. But with gold, that decentralization comes at a heavy price (literally). The physical nature of gold makes it hugely inefficient for global transactions. And this is why bitcoin is important! It is the first currency in the world that is both decentralized and digital. It is more reliably scarce than gold and more private and transactionally efficient than "modern" digital banking. This is why people are excited about bitcoin, it has the potential to completely revolutionize money." I thought I'd share it with you. Have a good Sunday everybody!
  8. A lot of monkeys lived near a village. One day a merchant came to the village to buy these monkeys! He announced that he will buy the monkeys @ $100 each. The villagers thought that this man is mad. They thought how can somebody buy stray monkeys at $100 each? Still, some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey. This news spread like wildfire and people caught monkeys and sold it to the merchant. After a few days, the merchant announced that he will buy monkeys @ 200 each. The lazy villagers also ran around to catch the remaining monkeys! They sold the remaining monkeys @ 200 each. Then the merchant announced that he will buy monkeys @ 500 each! The villagers start to lose sleep! ... They caught six or seven monkeys, which was all that was left and got 500 each. The villagers were waiting anxiously for the next announcement. Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ 1000 each! He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage. The merchant went home. The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.☹ Then the employee told them that he will sell some monkeys @ 700 each secretly. This news spread like fire. Since the merchant buys monkey @ 1000 each, there is a 300 profit for each monkey. The next day, villagers made a queue near the monkey cage. The employee sold all the monkeys at 700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys! The villagers took care of their monkeys & waited for the merchant to return. But nobody came! ... Then they ran to the employee.. But he has already left too ! The villagers then realised that they have bought the useless stray monkeys @ 700 each and unable to sell them! The Bitcoin will be the next monkey business It will make a lot of people bankrupt and a few people filthy rich in this monkey business. That' how it will work! This forward just makes so much sense. What's important is, if you're investing you need to know when to quit. - Do you agree?
  9. End-to-end encryption renders most of Cloudflare's advanced features useless. To use them, the session between you and Cloudflare is secured, the session between Cloudflare and the website is secured, but Cloudflare essentially becomes a man-in-the-middle and decrypts the data for inspection.
  10. Oh it isn't just Lebanon who are is desperate for USD. It's the entire world. Hong Kong is China's main way of getting USD since Hong Kong is an important area of trading with USD. The repo markets are going absolutely insane with the Fed selling mortgage backed securities and buying treasuries from banks: US banks need cash as well. It's a lot closer to home than some would suspect. It's most likely at your own bank.
  11. This is what's happening in Lebanon right now. With dollars running low in Lebanon, ATMs are spitting back bank cards, and locals are panicking November 22, 2019 at 7:10 p.m. GMT+1 BEIRUT — Over recent weeks, ATMs in Lebanon have been spitting back bank cards, refusing to provide dollars to those who ask for them, though people here have long used the American currency alongside the Lebanese pound. Dollars have virtually disappeared. Panicked tenants have begun asking to pay their rent in pounds, but landlords are refusing to accept them as the local currency hemorrhages value. Some restaurants and bars have stopped taking credit cards, instead requiring cash to pay vendors. Other eateries have limited their menus, unable to pay for imported goods in dollars. Lebanon is facing not just political turmoil, with daily protests across the country, but a financial emergency as well. Even as demonstrators rail against the political elites they blame for the economic troubles, this deeply indebted country is facing an escalating liquidity crisis. The black market exchange rate has now soared to 1,900 pounds to the dollar, 26 percent higher than the official rate. The dollar shortage is reverberating across the economy, suppressing consumer demand and driving up costs for Lebanon’s all-important service sector, which must pay vendors in dollars. Service industry employees are being laid off or given only 50 percent of their wages. Banks had been closed altogether during a week-long strike called by the union representing banks staff over security concerns for employees. Many banks reopened Tuesday but have little to offer the public. A week ago, the Association of Banks in Lebanon set a $1,000 ceiling for withdrawals from U.S. dollar bank accounts and limited transfers abroad — which had been previously been halted altogether — to allow only for “urgent personal expenses.” Some banks are even refusing to give customers the $1,000 they are supposedly allowed to withdraw. At least one bank refused to give dollars to customers who had opened accounts in other branches. In downtown Beirut, spider web cracks have spread across the glass storefront of the Blom Bank, its walls and windows splashed with colorful graffiti echoing the chants of the protesters who have crowded into Lebanon’s streets: “Down with capitalism” and “We are not afraid.” Security forces began standing guard out front this week, as they’ve done outside many other banks across the country. One man stood in line to withdraw the remaining $300. He said he had taken his allotted $1,000 from another bank and was leaving for Canada to join his wife. “There is no future here,” he said, declining to give his name before shuffling off. 'Margin of tolerance' diminished Over the past month, about $3.8 billion has been withdrawn from Lebanon’s banks, according to Jad Chaaban, an economics professor at the American University of Beirut. These sizable withdrawals reflect a lack of confidence in the banking system and the wider economy, which is being undermined by a similar lack of trust in the political system. Prime Minister Saad Hariri resigned Oct. 29 from his position after two weeks of nonstop protests against the political elite, and a new government has yet to be formed. To sustain the fixed dollar-to-pound rate, Lebanon’s central bank must maintain foreign currency reserves. The Central Bank governor, Riad Salameh, has repeated recently that there are sufficient reserves and no liquidity issue, but people do not trust the central bank, Chaaban said. He said Lebanon needs an independent authority to carry out an audit and restore confidence in the banks. Lebanon is one of the most indebted countries in the world, as measured by a debt-to-GDP ratio projected at 155 percent. After a 15-year civil war ended in 1990, the country’s rulers lowered corporate and income taxes and borrowed internationally to help resurrect the war-ravaged country. Lebanon later attracted foreign currency deposits by offering high-interest rates to maintain its stock of dollars. These practices, however, widened the gap between the rich and the poor and fueled a yawning government budget deficit. Lebanon’s economy and financial system have long been heavily dependent on remittances from the Lebanese diaspora abroad, which is larger than Lebanon’s resident population. In recent years, the flow of money into Lebanon has tapered off partly because of regional instability, according to Sami Nader, the director of Levant Institute for Strategic Affairs. More dollars have been flowing out of the country than into it, leaving Lebanon without enough dollars to cover its import bill and service its debt. Lebanon’s economy has suffered in part from the spillover from the civil war in neighboring Syria. The tiny Mediterranean country has struggled to deal with an inflow of hundreds of thousands of refugees, clashes near and across the border and a shutdown of vital trade routes. The role of the Iran-backed militia, Hezbollah, which has a significant presence in the Lebanese parliament, is also a complicating factor for the economy. Because Hezbollah supports the Houthi rebels in Yemen, who are engaged in a war with a Saudi-led military coalition, the “margin of tolerance” toward Lebanon among Saudi Arabia and other Gulf countries has diminished, Nader said. “Gulf countries constitute our strategic economic depth,” he said. “Not because we love them, but because 55 percent of remittances, which are the linchpin of our economy, come from the diaspora who live there. “The international community has no reason to inject cash in the Lebanese market as long as Hezbollah is conducting Lebanon’s policies,” Nader said. “Why would Saudi Arabia step in to rescue a Hezbollah-dominated Lebanon that supports insurgents in the region who target Saudi with missiles?” 'They have ruined people's lives' The protests, which erupted in mid-October, have targeted public corruption, and the anger has been exacerbated by rumors that some influential, well-connected people have been able to withdraw more than the maximum $1,000 a week. “Banks are the lungs of the society. They are not just a company that is supposed to make money, but have a certain responsibility toward society,” said a real estate developer, whose name is being withheld because he fears reprisals. His company, which employed around 220 workers in 2017, now has only 15. “Banks have proven they are not worthy enough to be in such a position. They have ruined people’s lives,” he said. On the day the banks finally reopened earlier this week, employees watched the protests from behind the large glass facade of a bank headquarters, staring down at the hundreds of demonstrators banging pots and pans, chanting, “This country is for the workers; down with the capital’s authority.” Clad in expensive suits and shiny shoes, some bankers and other bank employees stood in front of the building, watching or taking pictures. One employee changed into casual clothes and joined the protesters. “We, bank employees, are not all enemies of the revolution,” the bank employee said on the condition of anonymity in order not jeopardize his job. “I changed into these clothes because the suit that I have to wear for work does not represent me or the class that I belong to.”
  12. After bitcoin becomes too expensive for the average person to deal with it in whole bitcoins (already the case for some people), we will begin dealing, speaking, and thinking in smaller units like millibitcoin and microbitcoin, but the most elemental bitcoin unit is the satoshi. How many satoshis are there (or at maximum)? This many: 2,100,000,000,000,000 Which is found by multiplying the maximum 21 million bitcoin by the number of satoshis per bitcoin, which is 100 million. How do you pronounce that huge number? Like this: "Two quadrillion one hundred trillion." How many satoshis are available to us now (have been mined)? Well, we've mined about 15 million bitcoin out of the 21 million maximum. Times 100 million that comes out to: 1,500,000,000,000,000 or, "One quadrillion five hundred trillion." How many satoshis is that for each human being alive today? Taking a 7-billion approximation, that comes out to: 214,285 satoshis per human being. In a total bitcoin-takeover scenario, where bitcoin truly moons and comes out to a price of, say, $3 million per coin and goes into worldwide use, each satoshi would have to be worth about 3-cents. Thus, even in a total-bitcoin-victory scenario, it seems that there are enough satoshis in the world to run commerce at even the smallest level.
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    • Isabella

      Good ideas 
       

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    • 4Jah2me  »  Srecko Sostar

      Hi Srecko. I hope you can see this photo. This is my daily driving car. It is outside a Dance Studio where  I have danced and hope to go dancing again, John 

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    • Tennyson  »  Queen Esther

      Hello my sister, i have not head from you long sice. I hope you are wel. Hope to hear from you soon. Agape.
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    • Doryseeker  »  4Jah2me

      *** it-2 p. 7 Jehovah ***
      The Codex Leningrad B 19A, of the 11th century C.E., vowel points the Tetragrammaton to read Yehwahʹ, Yehwihʹ, and Yeho·wahʹ. Ginsburg’s edition of the Masoretic text vowel points the divine name to read Yeho·wahʹ. (Ge 3:14, ftn) Hebrew scholars generally favor “Yahweh” as the most likely pronunciation. They point out that the abbreviated form of the name is Yah (Jah in the Latinized form), as at Psalm 89:8 and in the expression Ha·lelu-Yahʹ (meaning “Praise Jah, you people!”). (Ps 104:35; 150:1, 6) Also, the forms Yehohʹ, Yoh, Yah, and Yaʹhu, found in the Hebrew spelling of the names Jehoshaphat, Joshaphat, Shephatiah, and others, can all be derived from Yahweh. Greek transliterations of the name by early Christian writers point in a somewhat similar direction with spellings such as I·a·beʹ and I·a·ou·eʹ, which, as pronounced in Greek, resemble Yahweh. Still, there is by no means unanimity among scholars on the subject, some favoring yet other pronunciations, such as “Yahuwa,” “Yahuah,” or “Yehuah.”
      Since certainty of pronunciation is not now attainable, there seems to be no reason for abandoning in English the well-known form “Jehovah” in favor of some other suggested pronunciation. If such a change were made, then, to be consistent, changes should be made in the spelling and pronunciation of a host of other names found in the Scriptures: Jeremiah would be changed to Yir·meyahʹ, Isaiah would become Yeshaʽ·yaʹhu, and Jesus would be either Yehoh·shuʹaʽ (as in Hebrew) or I·e·sousʹ (as in Greek). The purpose of words is to transmit thoughts; in English the name Jehovah identifies the true God, transmitting this thought more satisfactorily today than any of the suggested substitutes.
      *** it-2 p. 7 Jehovah ***
      The Codex Leningrad B 19A, of the 11th century C.E., vowel points the Tetragrammaton to read Yehwahʹ, Yehwihʹ, and Yeho·wahʹ. Ginsburg’s edition of the Masoretic text vowel points the divine name to read Yeho·wahʹ. (Ge 3:14, ftn) Hebrew scholars generally favor “Yahweh” as the most likely pronunciation. They point out that the abbreviated form of the name is Yah (Jah in the Latinized form), as at Psalm 89:8 and in the expression Ha·lelu-Yahʹ (meaning “Praise Jah, you people!”). (Ps 104:35; 150:1, 6) Also, the forms Yehohʹ, Yoh, Yah, and Yaʹhu, found in the Hebrew spelling of the names Jehoshaphat, Joshaphat, Shephatiah, and others, can all be derived from Yahweh. Greek transliterations of the name by early Christian writers point in a somewhat similar direction with spellings such as I·a·beʹ and I·a·ou·eʹ, which, as pronounced in Greek, resemble Yahweh. Still, there is by no means unanimity among scholars on the subject, some favoring yet other pronunciations, such as “Yahuwa,” “Yahuah,” or “Yehuah.”
      Since certainty of pronunciation is not now attainable, there seems to be no reason for abandoning in English the well-known form “Jehovah” in favor of some other suggested pronunciation. If such a change were made, then, to be consistent, changes should be made in the spelling and pronunciation of a host of other names found in the Scriptures: Jeremiah would be changed to Yir·meyahʹ, Isaiah would become Yeshaʽ·yaʹhu, and Jesus would be either Yehoh·shuʹaʽ (as in Hebrew) or I·e·sousʹ (as in Greek). The purpose of words is to transmit thoughts; in English the name Jehovah identifies the true God, transmitting this thought more satisfactorily today than any of the suggested substitutes.
       
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    • Isabella  »  admin

      💤

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