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How does Bitcoin actually work?


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    • By Money & Finance
      Documentary about the cryptocurrency Bitcoin: Bitcoin: Beyond The Bubble - What is Bitcoin?
      With the advent of Bitcoin, the world's premier digital currency, for the first time in history money is no longer controlled by banks or governments, but by the people who use it.
      Bitcoin: Beyond The Bubble (2018)
      Director: Tim Delmastro
      Writer: Tim Delmastro
      Stars: Jeff Berwick, Catherine Austin Fitts, Trace Mayer
      Genre: Documentary | Short
      Country: Australia Language:
      English Release
      Date: 1 May 2018 (Australia)
      Storyline: What is Bitcoin? With the advent of Bitcoin, the world's premier digital currency, for the first time in history money is no longer controlled by banks or governments, but by the people who use it. But where did this currency come from? How does it work? And is it truly the way forward, or just a flash in the pan?
    • By Money & Finance
      Money is simply a tool that humans use to move value across space and time. Fiat currencies were clearly designed to be spent. Wanting to save the fruits of your labor with a fiat currency is totally foolish.
      https://medium.com/in-bitcoin-we-trust/optimized-for-moving-value-across-space-and-time-bitcoin-fixes-the-flaws-of-gold-and-fiat-3a637ef66e51?sk=d942de190ffed45ba8f5d3dfd601c79a
    • By Money & Finance
      https://investments.metlife.com/content/dam/metlifecom/us/investments/insights/research-topics/macro-strategy/pdf/MIM-GEMS-The-Blockchain-Blockbuster_Yapese-Stones-to-Central-Bank-Digital-Currencies.pdf

    • By Money & Finance
      Ex-Canadian PM Stephen Harper has said that Bitcoin could be used as a part of a basket of reserve alternatives to the US dollar. He added that central bank digital currencies, or CBDCs, were “inevitable” to some degree at one point, but it would still be subject to various monetary policies. He also expressed his concerns regarding central banks becoming “kind of a general banker” rather than just a financial monitor.
      https://thedailychain.com/ex-canadian-prime-ministers-says-bitcoin-could-be-a-reserve-currency/

    • By Money & Finance
      Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank. The RFI was circulated to at least one well-known crypto custody player toward the end of 2020. The bank's digital assets initiative is "part of a broad digital strategy," the source said.
      https://www.coindesk.com/goldman-sachs-to-enter-crypto-market-soon-with-custody-play-source

    • By admin
      The Winklevoss twins’ thesis is simple. For them, Bitcoin is gold 2.0 that will eventually disrupt gold:
      “Our thesis is that Bitcoin is gold 2.0 and it will disrupt gold.”
      Based on this observation, the Winklevoss twins believe that Bitcoin will reach the gold market cap in the next decade. The gold market cap is currently $9T.
      The advantage of Bitcoin is that its monetary policy is programmatic. Everything is predictable. We can therefore estimate fairly accurately the number of Bitcoins that will be in circulation in 2030. This number will then be 20 million BTC.
      If Bitcoin has a market cap of $9T in 2030, the price of Bitcoin will be $450K.
      Over the next decade, the great monetary inflation we are currently experiencing will continue to intensify. Under these conditions, the U.S. dollar will continue to weaken, which will boost the price of gold, but also the Bitcoin price.
      Under these conditions, the Bitcoin price could be closer to $500K than $450K with a market cap similar to that of gold in 2020.
      The reasoning of the Winklevoss twins is the same reasoning that many Bitcoiners do as well. It is based on three major elements:
      The law of supply and demand.
      The gold market cap.
      The endless inflation of the U.S. dollar.
      With its current price of $18K, Bitcoin has enough to offer a 25x gain to all those who will choose to buy it before becoming HODLers.
    • By admin
      Did you know that every single Norwegian citizen indirectly owns 0.000114 BTC?
      ''Oljefondet'' is a fond controlled by the Norwegian goverment where alot of Norways oil profits goes and are invested.
      Every norwegian owns an equal part of this fund.
      ''Oljefondet'' Owns a 1,51% Stake in Microstrategy (source:https://www.nbim.no/no/oljefondet/beholdningene/beholdninger-per-31.12.2019/?fullsize=true)
      Microstretegy owns approx 40,824 BTC (soruce: https://bitcointreasuries.org/)
      The Norwegian population is 5 367 580 (source: https://www.ssb.no/befolkning/statistikker/folkemengde/aar-per-1-januar)
       
      That means that every Norwegian citizen owns 0.00011485 BTC or approx 2 USD.
       + another 0,000000728 BTC pr Citizen from Square Inc. (4709 BTC where Norway has a 0,83% of the shares)

    • By TheWorldNewsOrg
      Bitcoin has profound impacts on our understanding of how the economy works and at the same time the technology behind Bitcoin is an incredible achievement in the field of distributed systems.

      Hello guest! Please register or sign in (it's free) to view the hidden content. Intro
      Hello guest! Please register or sign in (it's free) to view the hidden content. Economics & Ethics of Bitcoin
      Hello guest! Please register or sign in (it's free) to view the hidden content. Technology of Bitcoin
      Hello guest! Please register or sign in (it's free) to view the hidden content. Where will Bitcoin go?
      Hello guest! Please register or sign in (it's free) to view the hidden content. Final notes  
      Final notes Here is a list of more sources.
      Books:
      Saifedean Ammous - The Bitcoin Standard (economics)
      Andreas Antonopoulos - The Internet Of Money series (general)
      Andreas Antonopoulos - Mastering Bitcoin (technology)
      Jörg Guido Hülsmann - Ethics Of Money Production (ethics, economics)
      Austrian Economics: Hayek, Mises, Rothbard
    • By LNN
      Alistair Milne (British investor and entrepreneur)  $120,000 USD by 2021 Max Keiser (Founder and CEO of Heisenberg Capital): $400,000 USD Anthony Pompliano (founder of Morgan Creek Digital): $100,000 USD by 2021 Tim Draper (Bitcoin advocate and venture capitalist): $250,000 by 2022 Raoul Pal (CEO of an investment strategy research service The Global Macro Investor): $1 million by 2025 Jeremy Liew (partner at Lightspeed Venture Partners and the brain behind Snapchat): $500,000 by 2030. (Citibank) Fitzpatrick's prediction is $318,000 for Bitcoin price in December 2021
    • By admin
      Compare your banks security encryption to bitcoin's
    • By Michael Krewson
      It is interesting to see so many different people around the world from different nations going in on this.    
    • By Michael Krewson
      "The lines say we might go up to 1 trillion or down 0, no financial advice though."fast forward 1 day: price went up or down"See? I told you guys!"   Now it is official: if it goes up, we will see higher prices.
      I know for certain we’ll hit 10,900 so there’s a good chance we’ll pass 10,800 along the way. But no guarantees.   You can also take a loan..   A second mortgage on the house.
      Or sell some organs....
      Or sell some of your grandmothers organs.... she won’t need those kidneys soon anyways and you could have some precious BTC
      Sell futures to your own organs and buy them back with the appreciated bitcoins after they've goon up!
      Don’t forget to ask relatives for money. Tell them you are in danger of losing your house. Once they give you money, immediately take the whole chunk of money and market buy Bitcoin.
      My long lost Nigerian cousin who is a prince told me something similar. Except he needed it to buy his village back. I'm still waiting for him to tell me everything is okay. ☺️   I just sold, so this might be going moonward, boys.   And if what you like what you heard and saw here on the free channel we’ve got our other channels pro channels with over 8500 students so if you want to join my beginners group just click on the link. If you’re looking to get rich fast make sure to buy plenty of our sponsor coin they’re all great guys over there and they just happen to have some of the best ideas out there nothing short of revolutionary but don’t take it from the guys (they’re paying) who love them and do some research of your own it can all be found in the description below.  
    • By egorkramarskiy
      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. Hello guest! Please register or sign in (it's free) to view the hidden content. - Hello guest! Please register or sign in (it's free) to view the hidden content. not only gives regular users the opportunity to buy and sell Bitcoin through their credit cards and bank accounts, but also a dealer service.
    • By Michael Krewson
      Hello guest! Please register or sign in (it's free) to view the hidden content. 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.’ "
    • By admin
      "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!
       
    • By admin
      The law of supply and demand is an economic model used to determine the price of an asset in a market.
      This law of supply and demand will therefore lead to an economic equilibrium for the price of an asset as well as the volume of trade.
      An existing asset in limited quantity for which demand would be strong would necessarily see its price increase if we stick to this law.
      Indeed, strong demand from buyers would allow sellers to sell at a higher price.
      Bitcoin Block Reward Halving Countdown
      Reward-Drop ETA date: 12 May 2020 08:51:29
      The Bitcoin block mining reward halves every 210,000 blocks, the coin reward will decrease from 12.5 to 6.25 coins. 
       
      Total Bitcoins in circulation: 18,219,288 Total Bitcoins to ever be produced: 21,000,000 Percentage of total Bitcoins mined: 86.76% Total Bitcoins left to mine: 2,780,713 Total Bitcoins left to mine until next blockhalf: 155,713 Bitcoin price (USD): $9,894.90 Market capitalization (USD): $180,278,027,883.75 Bitcoins generated per day: 1,800 Bitcoin inflation rate per annum: 3.67% Bitcoin inflation rate per annum at next block halving event: 1.80% Bitcoin inflation per day (USD): $17,810,820 Bitcoin inflation until next blockhalf event based on current price (USD): $1,540,759,616 Total blocks: 617,543 Blocks until mining reward is halved: 12,457 Total number of block reward halvings: 2 Approximate block generation time: 10.00 minutes Approximate blocks generated per day: 144 Difficulty: 15,546,745,765,529 Hash rate: 112.90 Exahashes/s  




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