Overstock is turning into a bitcoin tech company

Overstocks new exchange t0 - maybe 2016 /r/Bitcoin

Overstocks new exchange t0 - maybe 2016 /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What can you do with cryptocurrency

Buy goods

In the past, trying to find a merchant that accepts cryptocurrency was extremely difficult, if not impossible. These days, however, the situation is completely different.
There are a lot of merchants - both online and offline - that accept Bitcoin as the form of payment. They range from massive online retailers like Overstock and Newegg to small local shops, bars and restaurants. Bitcoins can be used to pay for hotels, flights, jewelery, apps, computer parts and even a college degree.
Other digital currencies like Litecoin, Ripple, Ethereum and so on aren’t accepted as widely just yet. Things are changing for the better though, with Apple having authorized at least 10 different cryptocurrencies as a viable form of payment on App Store.
Of course, users of cryptocurrencies other than Bitcoin can always exchange their coins for BTCs. Moreover, there are Gift Card selling websites like Gift Off, which accepts around 20 different cryptocurrencies. Through gift cards, you can essentially buy anything with a cryptocurrency.
Finally, there are marketplaces like Bitify and OpenBazaar that only accept cryptocurrencies.
Read more in the article “What can I buy with Bitcoins?”

Invest

Many people believe that cryptocurrencies are the hottest investment opportunity currently available. Indeed, there are many stories of people becoming millionaires through their Bitcoin investments. Bitcoin is the most recognizable digital currency to date, and just last year one BTC was valued at $800. In November 2017, the price of one Bitcoin exceeded $7,000.
Ethereum, perhaps the second most valued cryptocurrency, has recorded the fastest rise a digital currency ever demonstrated. Since May 2016, its value increased by at least 2,700 percent. When it comes to all cryptocurrencies combined, their market cap soared by more than 10,000 percent since mid-2013.
However, it is worth noting that cryptocurrencies are high-risk investments. Their market value fluctuates like no other asset’s. Moreover, it is partly unregulated, there is always a risk of them getting outlawed in certain jurisdictions and any cryptocurrency exchange can potentially get hacked.
If you decide to invest in cryptocurrencies, Bitcoin is obviously still the dominant one. However, in 2017 its share in the crypto-market has quite dramatically fallen from 90 percent to just 40 percent. There are many options currently available, with some coins being privacy-focused, others being less open and decentralized than Bitcoin and some just outright copying it.
While it’s very easy to buy Bitcoins - there are numerous exchanges in existence that trade in BTC - other cryptocurrencies aren’t as easy to acquire. Although, this situation is slowly improving with major exchanges like Kraken, BitFinex, BitStamp and many others starting to sell Litecoin, Ethereum, Monero, Ripple and so on. There are also a few other different ways of being coin, for instance, you can trade face-to-face with a seller or use a Bitcoin ATM.
Once you bought your cryptocurrency, you need a way to store it. All major exchanges offer wallet services. But, while it might seem convenient, it’s best if you store your assets in an offline wallet on your hard drive, or even invest in a hardware wallet. This is the most secure way of storing your coins and it gives you full control over your assets.
As with any other investment, you need to pay close attention to the cryptocurrencies’ market value and to any news related to them. Coinmarketcap is a one-stop solution for tracking the price, volume, circulation supply and market cap of most existing cryptocurrencies.
Depending on a jurisdiction you live in, once you’ve made a profit or a loss investing in cryptocurrencies, you might need to include it in your tax report. In terms of taxation, cryptocurrencies are treated very differently from country to country. In the US, the Internal Revenue Service ruled that Bitcoins and other digital currencies are to be taxed as property, not currency. For investors, this means that accrued long-term gains and losses from cryptocurrency trading are taxed at each investor’s applicable capital gains rate, which stands at a maximum of 15 percent.
submitted by PresentType to cryptotrilemainfo [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

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

Where can I buy bitcoins?

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

Securing your bitcoins

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

Where can I spend bitcoins?

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

Merchant Resources

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

Can I mine bitcoin?

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

Earning bitcoins

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

Bitcoin Projects

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

Bitcoin Units

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

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

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

Where can I buy bitcoins?

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

Securing your bitcoins

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

Where can I spend bitcoins?

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

Merchant Resources

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

Can I mine bitcoin?

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

Earning bitcoins

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

Bitcoin Projects

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

Bitcoin Units

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

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

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

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

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

Merchant Resources

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

Can I mine bitcoin?

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

Earning bitcoins

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

Bitcoin Projects

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

Bitcoin Units

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

Some thoughts about the possible Bitcoin Segwit, Bilderberg/AXA/BockStream/Core, In-Q-Tel, CIA connection.

I noticed a lot of people mentioning Bilderberg's connection to AXA and BlockStream, recently with Jeff Berwick's two videos going viral as seen here and here. It has been something I have been trying to warn people of for a while, and if you don't know what Bilderberg is you really need to watch this excellent documentary about it. The current chairman of the Bilderberg steering committee Henri de Castries was also CEO of AXA until he announced retirement in 2016. AXA is one of the main funders of BlockStream and Bitcoin Core development. As one of the biggest insurance companies in the world AXA also benefits from the legacy too-big-to-fail bailout system, and Bitcoin is a threat to their way of life. AXA are also funding technocratic totalitarian smart cities, where they team up with governments for full control. It is not surprising that they would want to get their fingers into Bitcoin.
Now lets dig a little deeper. About 6 or 7 years ago, right before Satoshi disappeared, Gavin Andresen was invited to speak at the CIA. He got an invitation directly from In-Q-Tel the CIA's venture capitalist funding arm. Gavin mentions how In-Q-Tel reached directly out to him in this video @ 13sec mark (I am not endorsing the rest of the content of this video). In-Q-Tel basically helps fund and invest in companies that help equip the CIA with the latest information technology and capabilities. You can look on In-Q-Tel's website and see that they publicly invest in many innovative tech companies. Some of these are public, there are no crypto companies listed, but they also at times make private investments as well. Makes you wonder because they were interested enough to phone up Gavin Andresen personally and invite him for a speech, so in my opinion its highly likely they are investing somewhere in this space, and for what ends? We don't know. We do know that certain companies have captured the Core developers, and blocked common sense progress on Bitcoin, and that should be alarming.
Further evidence that shows some type of coordination between these groups comes from Peter Thiel who has recently advocated against Bitcoin as a cash system, and instead is pushing it as a settlement system, the same narrative of BlockStream Core. It may also be interesting to know that Peter Thiel has also attended Bilderberg regularly and defends Bilderberg's secretive nature. Thiel also is partnering with In-Q-Tel and the CIA with his company Palantir, which spies on everybody. It is also interesting that at least one other VC funding firm Khosla Ventures invested in BlockStream, and also in the past has helped fund other companies that are working with In-Q-Tel. This was just from some quick research, only scratching the surface.
I find these connections somewhat alarming, considering all of the community attacks I have seen going on. Its possible that some groups are trying to strangle and control and co-opt Bitcoin. It would make sense that they might try to force everyone off of the old model by jacking up fees, so users are herded onto something new in a 2nd layer solution that is more easily controlled. I believe segwit allows them to create an open door for trying to encourage Bitcoiners to move into their system, and the high fees is what they hope pushes users through that door. This is probably why we see so many attempts to move away from Satoshi's vision and the whitepaper. Its why we see such a lack of common sense to simply raise the blocksize capacity. Its why we see such draconian censorship, dirty tricks, lies, and diabolical political tactics. Ultimately I don't want to draw any final conclusions, but I feel these facts should be brought to the table for people to decide for themselves.
submitted by cryptorebel to btc [link] [comments]

A Spy in the House of Byrne—The Ledger

_(This week’s Ledger newsletter is by David Z. Morris)_The crypto industry can be roughly divided into two groups. On the one hand, there are “crypto native” companies creating new things from scratch (think Binance or Brave). On the other hand are existing operations trying to use blockchain tech to get a further edge (think ICE’s Bakkt or Facebook’s Libra).
And then there was Patrick Byrne, who had a foot in both worlds—sometimes uncomfortably.
The CEO for two decades of e-commerce pioneer Overstock.com, Byrne became a vocal crypto proponent around five years ago, and has worked since then to position the company as a blockchain leader. Overstock was the first major online retailer to take payments in Bitcoin, starting in early 2014. The same year, Byrne began work on “tzero,” a blockchain-based alternative to traditional securities exchanges. Then he founded Medici Ventures, a venture fund and incubator that houses 18 blockchain startups within Overstock.
And now, it appears, he’s gone. Byrne resigned suddenly as CEO of Overstock last Thursday, after mounting controversy surrounding his past romantic relationship with alleged Russian agent Maria Butina. Butina is now serving an 18 month prison sentence for conspiring to promote Russian interests through conservative U.S. political groups.
Byrne’s statements on the matter have been vague and conspiratorial, including references to the “Deep State” and “Men in Black” who Byrne says drew him into “certain government matters.” He subsequently made detailed claims that the FBI directly encouraged his relationship with Butina circa 2016 as part of an investigation into Russian activities (claims dismissed by then-FBI director James Comey). Byrne says he’s resigning because these entanglements “may affect and complicate all manner of business relationships,” and that he’ll be “disappearing for some time.”
This is the sort of weirdness you’d expect from the wild-west world of crypto-natives, not a public company valued at more than $1 billion as recently as a year ago. But Byrne was known as a bit of a loose cannon well before Bitcoin was invented, most notably for his aggressive (and also frequently conspiratorial) campaign against naked short sellers. (You can read _Fortune’s_coverage of those battles here.)
This very enjoyable profile from Forbes dives into Byrne’s privileged and unconventional background—he has a PhD in philosophy from Stanford, and is apparently close friends with Warren Buffet through Byrne’s father. It also paints Byrne as easily distractable, and Overstock’s blockchain ventures as a boondoggle that’s destroying a once-profitable company.
The boondoggle part might wind up coming true, but if Overstock’s blockchain efforts are a risky bet, they’re anything but a lark. I spent some time at the company’s headquarters in Salt Lake City this past spring, and with Medici, Byrne has built a team that’s both technically savvy and fairly unified in its deeply-held crypto-native worldview. Most notably, Medici is a hotbed of thoughtful skepticism towards government, with managers and coders ranging from left-wing anarchists to free-market libertarians. There are even signs that Overstock’s presence is helping turn Salt Lake City into a blockchain hub with its own unique feel—for instance, the Off Chain conference there caters to the overlap between crypto, firearms, and “prepping.”
Byrne himself often described his worldview in libertarian terms, and he’ll be succeeded by Jonathan Johnson, who shares much of Byrne’s outlook on both politics and blockchain. Johnson is currently head of the Medici unit, and he’ll shoulder Byrne’s CEO duties on an interim basis. He’s a steady, composed counterpoint to Byrne’s swashbuckling verve, as well as a thoughtful strategist. Most significantly, his rise to the head job, even if temporary, signals that Overstock intends to stick with its blockchain bets.
The question now is whether some of those bets hit before Overstock’s retail revenues fade.
One final note: We’re running lean here at The Ledger this month, in part because Jeff Roberts is on book leave (look for his cryptocurrency magnum opus from Audible soon). That’s why they handed the reins over to me, the new guy. I recently joined the Fortune team from BreakerMag, a now defunct but much-loved blockchain-focused publication. In addition to reporting on the world of digital assets and decentralized technologies, I’ll be writing about A.I., Tesla, and other techie matters. I’ll also be authoring this newsletter every once in a while—hopefully, from here on out, with a header that actually has my name on it. Glad to know you.
David Z. Morris |@davidzmorris| [email protected]
* More Details Here
submitted by acerod1 to Business_Analyst [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

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

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

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

Merchant Resources

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

Can I mine bitcoin?

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

Earning bitcoins

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

Bitcoin Projects

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

Bitcoin Units

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

Cryptocurrency: Is It Still Alive or Dying? Part 2.

Cryptocurrency: Is It Still Alive or Dying? Part 2.
Part 2. Political and Economic Trends in Favor of the Cryptocurrency Market Development

In the first part of the story we showed that the cryptocurrency market crash in 2018 and the beginning of its recovery in 2019 fit well into the general patterns of the financial bubbles’ development, and also repeat pretty well the Bitcoin dynamics of 2014-2016. But besides the analogies with other bubbles, there are a lot of other arguments in favor of the global growth of the market, among which are the political and economic trends of the recent years.

Relaxation of the Political Climate around the Cryptoassets

The entire year of 2017 has witnessed heated discussions as to the legal status of the digital assets. One of the central events of the year was their legalization in Japan in April. Precisely this legalization, according to many, spurred a dramatic growth of the cryptocurrency market in May (especially, altcoins). But the majority of other countries during this period held more skeptical positions.

The U.S. government on several occasions refused to register bitcoin-ETF - exchange-traded funds, the price of shares in which would repeat the price of BTC. The U.S. government also extremely tightened the conditions of the ICO procedure, while some countries, such as China and South Korea - have banned it completely. Certain countries, such as Indonesia and Salvador, have banned cryptocurrencies to the extent of criminal responsibility.

A number of countries, including Russia, have adopted a cautious wait-and-see attitude, regularly promising to impose restrictions of varying severity, but not hurrying to sign it into law.

A turning point on the way to the global recognition of the cryptocurrency was the beginning of trading the Bitcoin futures at the Chicago exchanges (CME) (the world’s largest stock exchange in terms of turnover) and CBOE in December of 2017. That is when the American government admitted openly that cryptocurrencies are now to be reckoned with. With the beginning of this trade, the powerful financial circles of the USA, whose opinion cannot be ignored by the political leadership, became interested in the development of the cryptocurrency market.

Chicago Mercantile Exchange, CME – the world leader in terms of trade volume

In 2018, the following paradox became obvious: even if over the longer term cryptocurrencies are dangerous for the modern political system (tied up in the central banks and the currency exchange regulation), the countries that will be the first to prohibit them will be most affected along with those countries that will simply overdo stirring up negative attitude. Those countries that will settle on legalization will benefit. The drain of brains and capitals will be directed to these countries from the more repressive or unpredictable countries. A typical example of that - Crypto Project GRAM of the Russian businessman Pavel Durov, whose ICO in 2018 reached a record amount, but it was carried out in USA, and not in the legislatively uncertain Russian Federation.

The experience of the countries that have legalized the cryptocurrencies, proved successful both from the financial standpoint, and from the perspective of the international prestige. They proved themselves to be open to the progress and new freedoms. In addition to Japan, Switzerland is especially noteworthy here, because it legalized cryptocurrencies as early as in 2016, but the most brilliantly announced about itself in 2018, when its banks began to introduce cryptocurrency services one after another. Among the innovator banks there was even a Swiss subsidiary of the Russian Savings Bank (Sberbank). The very expression “Swiss bank” became a synonym of not only high reliability, but also innovation.
A milestone event of 2018 was legalization of cryptocurrencies in Germany – the leading economy of the European Union. Rather liberal measures relative to the cryptocurrencies are being applied today in Czechia, Sweden, Canada, Denmark, Australia, Estonia, Norway, Finland, and a number of other countries.

“Legalization parade” has shown: the politicians with repressive attitudes cannot count on the global ban of the cryptocurrencies (which seemed theoretically possible in 2016-2017). Economically developed countries made an obvious choice: “if you cannot stop the process – become its leader”. And precisely in these countries the maximum capitals are being circulated, and the market situation depends precisely on their business activity.

Explosive Growth of the Retail Use of Cryptocurrencies
Despite obvious popularization of cryptocurrencies, there is still a myth that they are purely investment and speculative instrument, which, even if used as a payment method – only in the dark net, and as a means of payment for illegal commodities. But this is not the case today. As far back as 2013-2015, legal services accepting bitcoin emerged, and in 2016-2018 their market has undergone explosive growth.

The pioneers of the cryptocurrency market of goods and services in 2013, were, for example, Virgin Galactic – space tourism company, Victoria’s Secret lingerie company, Shopify - a supplier of software for the online stores. In 2014, the cryptocurrency was adopted by the Overstock online store, Expedia tourism service, Zynga – operator of the online games, the software monster Microsoft and many others. Some of these companies considerably went up due to the innovations: for example, the shares of Shopify and Overstock have increased in price several-fold since then.

As of today, the cryptocurrency is accepted by hundreds of large companies and thousands of small ones, while the range of their products is approaching the one in a traditional economy. The most popular categories of the goods for the cryptocurrency in the large famous companies are tourism and air tickets (Expedia), software and games (Microsoft, Shopify, Zynga, Steam), clothing and other consumer goods (Victoria’s Secret, Overstock.com, Rakuten), as well as food products (Subway, KFC, Burger King – in Russia). As an example, Playboy erotic products, premium accounts of the 4chan.org and reddit.com forums, Bloomberg.com business news, automobiles in the Czech show room Alza and many other goods can be also purchased for cryptocurrency.

A number of well-known companies, although they prefer traditional payments, nevertheless allow crypto payments through the intermediary services, such as gyft.com (trading with the card Gyft for BTC). For example, Ebay online store, Wallmart supermarket chain, Starbucks restaurants, Uber taxi service, etc. The turnover of gyft.com is evaluated in the amount of 25 million dollars with only 38 employees.
Small start-up companies often use ready-made multicurrency gateways such as coinpayments.net. It supports dozens of currencies, and hosts about 400 companies. In addition to mainstream, it contains a lot of specialized commodities. For example, crypto-armory.com sells cartridges, francvila.com – Swiss watches, directvoltage.com - 3D-printers, electric motors, CNC machines, etc. Some new stores not only accept cryptocurrencies, but also purposely give up fiat currency. For example, crypto-armory.com, explaining their refusal from fiat currency, state both ideological, and narrow pragmatic reasons. In the opinion of the owners of the store, it is easier to accept cryptocurrency payments both technically and legally.

Cartridges from the cryptocurrency store crypto-armory.com
An important trend of 2017-2018, in addition to the general growth of the commodity market - re-orientation of the stores to the multi-currency payments. Whereas previously most of them accepted only BTC, now a sign of good manners is to accept also LTC, ETH, XMR and at least several more currencies.

Thus, while the politicians were solving the problem in the manner “not possible to allow - disallow”, a vast market of commodities for cryptocurrency spontaneously emerged on the Internet. Some of its participants have multibillion capitalizations. This market is very international. The majority of commodities and services can be bought even from Russia and other countries, where cryptocurrency is not legal as an internal payment instrument, but is not prohibited as such. Today, it is hard to imagine a consumer good, which cannot be bought for cryptocurrency.

The Latest Trend – Support of Cryptocurrencies by Smartphones

The first smartphone with a cryptocurrency wallet was HYPERLINK "https://bitcryptonews.ru/blogs/sravnenie-blokchejn-smartfonov-exodus-1-i-finney"HTC Exodus 1, released in the autumn of 2018. Then, a crypto smartphone HYPERLINK emerged "https://bitcryptonews.ru/blogs/obzor-kriptosmartfona-finney"Finney. And in March of 2019, the baton was unexpectedly picked up by the smartphone from the major South Korean company, Samsung - Galaxy S10. And although Samsung refrained from the direct embedding of the cryptocurrency wallet into the standard supply set, a brand wallet of Samsung can be installed from the Galaxy Store.

Galaxy S10 – the first smartphone from Samsung with cryptocurrency support

On the part of crypto enthusiasts, there are a number of claims to Samsung initiative, among which – the lack of bitcoin support (BTC). At the moment, Samsung Blockchain Wallet supports only Ethereum (ETH) and ERC-20 standard currencies and tokens created on its basis:
Basic Attention Token (BAT), Chainlink (LINK), BinanceCoin (BNB), True USD (TUSD), USD Coin (USDC), Paxos Standard (PAX) and others.

Anyway, from a political and PR perspective, the emergence of Galaxy S10 is a great event.

First of all, smartphone can attract to the cryptocurrency market new people who have greater confidence in the famous brand, than in the traditional bulky cryptocurrency wallets. Now, many people are frightened away from the cryptocurrencies only by technical difficulties, whereas smartphones on many occasions have proved their ability to promote to the masses those things, which previously seemed to be very complex.
Secondly, this step of Samsung is a clear signal both to the domestic and foreign governments: big business is on the side of the new technologies. South Korea has a reputation of a country not very friendly to cryptocurrencies, however, its business giant publicly demonstrated another attitude.
Thirdly, the initiative of Samsung with a high degree of probability will be emulated by other leading producers of communication devices. Thus, shortly after the release of Galaxy S10, there appeared a news that a cryptocurrency wallet will soon be available in iOS Opera Touch, which means that cryptocurrencies can be also stored in iPhone of Apple.
All this creates excellent prerequisites both for the world legalization of the cryptocurrencies, and for the growth of the market due to the increase of the number of users.

Conclusion
Thus, despite the “roller coaster” of the cryptocurrency exchange rates, some fundamental processes have developed steadily in the same direction in the recent years: expansion of the commodity market for cryptocurrency, increase in the number of countries with a liberal attitude to cryptocurrencies, adoption of cryptocurrencies as a strategic technology by more and more industrial giants. The total number of individuals who tried to work with the cryptocurrencies grows steadily, while the new technological trends (in particular, crypto smartphones), can additionally accelerate this growth.

The only thing that can seriously damage a cryptocurrency market is its global ban, but it seems to be unlikely. Right now there are about 40 million bitcoin wallets on earth. It is believed that on average their number is doubled annually, which means that within 5 years it can reach a billion. And if now a global ban on cryptocurrencies is unrealistic due to their profitability for the developed countries, by that time their prohibition will become impossible almost physically.

In the first part of the story we had put forward the arguments as to why the investors need not fear the bubble of 2017-2018: in the end, the bubble showed not so much the riskiness of the crypto investments, but rather their long-term prospects. Today we described political and economic events, which have occurred in parallel “behind the scenes”, and in which there were no “drops” – only progressive development toward the construction of the crypto economy. And in the next, third part, we will try to describe in detail specific financial reasons of the collapse and recovery of the market in 2018-2019.

Analytical department, Trident company, Victor Argonov, Candidate of Physical and Mathematical Sciences.
Source:http://trident-germes.com/
https://www.facebook.com/Germes.mining.robot/
submitted by TridentGermes to u/TridentGermes [link] [comments]

Reminder this is r/stock and not a crypto sub; feedback welcomed.

The reason why we have a rule against crypto discussions is because this is stocks where we discuss stocks.
Last year we had a surge of comments that were literally "buy bitcoin" in almost every single post on stocks, and it wasn't just a single comment, sometimes you would find 10 users stating the exact same thing, "buy bitcoin" or going into details on how to mine bitcoins; this is spam & off topic.
Also Bitcoin is not a stock, just like discussing buying & reselling sneakers is not a stock, these discussions are off topic and that reason alone was enough to remove posts & comments. Unfortunately this wasn't enough, so we created a rule (see sidebar) against discussing crypto with a link to a sub where you could; we also made an automod rule to deal with this.
If you want to discuss investing in general, you can go to investing, which is mentioned in the sidebar (on mobile by tapping "about this community"). If you want to discuss crypto & mining you can go to CryptoCurrency.
Below is the automod message I wrote, please give me your criticism & feedback on this. I made it informative to deal with some misconceptions & misinformation (including GPU mining).
You can also see that when a stock is related to crypto, I've whitelisted that stock (including this post) so you can discuss crypto as long as that discussion is related to the stock (or this post), so it's not 100% removal; it also only affects top level comments:
Sorry your comment (link to comment) in /stocks was automatically removed as per rule 6: Bitcoins & cryptocurrenies should be discussed in CryptoCurrency.
This probably only affects your comment if it was a top level suggestion. Keep in mind this is stocks and people come here for stock suggestions.
We've whitelisted some discussions on crypto, but not all such as bitcoin & crypto holding ETFs and futures (explanation below). However we allow crypto discussions on the following: Coinbase IPO, Square INC, Overstock, XNET, MARA, GCAP, NVDA, AMD, and Kodak; this list will always be updated (see below to what won't be included).
A list of the rules can be found here, and if you're new to stocks please see the wiki and/or read this post.
If you're just wondering if cryptocoins are an investment, read here.
Please note:
Thanks for understanding.
Again this post is whitelisted so you can mention any crypto related keyword (as long as it deals with this post), and please provide your feedback which will help me whitelist more stocks/keywords; again keep in mind this is stocks.
Update: Based on feedback I updated the bullet point regarding the size of crypto market vs stock market, thanks u/yourslice
Update2: Based on information provided by u/mike_996, I'm whitelisting NVDA & AMD against crypto related keywords. However I'll be making a 2nd rule that'll remove "how to mine" type questions w/ a message that contains links to sub reddits on mining.
submitted by provoko to stocks [link] [comments]

Cryptocurrency: Is It Still Alive or Dying? Part 2

Cryptocurrency: Is It Still Alive or Dying? Part 2
Cryptocurrency: Is It Still Alive or Dying?
Part 2. Political and Economic Trends in Favor of the Cryptocurrency Market Development

In the first part of the story we showed that the cryptocurrency market crash in 2018 and the beginning of its recovery in 2019 fit well into the general patterns of the financial bubbles’ development, and also repeat pretty well the Bitcoin dynamics of 2014-2016. But besides the analogies with other bubbles, there are a lot of other arguments in favor of the global growth of the market, among which are the political and economic trends of the recent years.

Relaxation of the Political Climate around the Cryptoassets

The entire year of 2017 has witnessed heated discussions as to the legal status of the digital assets. One of the central events of the year was their legalization in Japan in April. Precisely this legalization, according to many, spurred a dramatic growth of the cryptocurrency market in May (especially, altcoins). But the majority of other countries during this period held more skeptical positions.

The U.S. government on several occasions refused to register bitcoin-ETF - exchange-traded funds, the price of shares in which would repeat the price of BTC. The U.S. government also extremely tightened the conditions of the ICO procedure, while some countries, such as China and South Korea - have banned it completely. Certain countries, such as Indonesia and Salvador, have banned cryptocurrencies to the extent of criminal responsibility.

A number of countries, including Russia, have adopted a cautious wait-and-see attitude, regularly promising to impose restrictions of varying severity, but not hurrying to sign it into law.

A turning point on the way to the global recognition of the cryptocurrency was the beginning of trading the Bitcoin futures at the Chicago exchanges (CME) (the world’s largest stock exchange in terms of turnover) and CBOE in December of 2017. That is when the American government admitted openly that cryptocurrencies are now to be reckoned with. With the beginning of this trade, the powerful financial circles of the USA, whose opinion cannot be ignored by the political leadership, became interested in the development of the cryptocurrency market.
Chicago Mercantile Exchange, CME – the world leader in terms of trade volume

In 2018, the following paradox became obvious: even if over the longer term cryptocurrencies are dangerous for the modern political system (tied up in the central banks and the currency exchange regulation), the countries that will be the first to prohibit them will be most affected along with those countries that will simply overdo stirring up negative attitude. Those countries that will settle on legalization will benefit. The drain of brains and capitals will be directed to these countries from the more repressive or unpredictable countries. A typical example of that - Crypto Project GRAM of the Russian businessman Pavel Durov, whose ICO in 2018 reached a record amount, but it was carried out in USA, and not in the legislatively uncertain Russian Federation.

The experience of the countries that have legalized the cryptocurrencies, proved successful both from the financial standpoint, and from the perspective of the international prestige. They proved themselves to be open to the progress and new freedoms. In addition to Japan, Switzerland is especially noteworthy here, because it legalized cryptocurrencies as early as in 2016, but the most brilliantly announced about itself in 2018, when its banks began to introduce cryptocurrency services one after another. Among the innovator banks there was even a Swiss subsidiary of the Russian Savings Bank (Sberbank). The very expression “Swiss bank” became a synonym of not only high reliability, but also innovation.

A milestone event of 2018 was legalization of cryptocurrencies in Germany – the leading economy of the European Union. Rather liberal measures relative to the cryptocurrencies are being applied today in Czechia, Sweden, Canada, Denmark, Australia, Estonia, Norway, Finland, and a number of other countries.

“Legalization parade” has shown: the politicians with repressive attitudes cannot count on the global ban of the cryptocurrencies (which seemed theoretically possible in 2016-2017). Economically developed countries made an obvious choice: “if you cannot stop the process – become its leader”. And precisely in these countries the maximum capitals are being circulated, and the market situation depends precisely on their business activity.

Explosive Growth of the Retail Use of Cryptocurrencies

Despite obvious popularization of cryptocurrencies, there is still a myth that they are purely investment and speculative instrument, which, even if used as a payment method – only in the dark net, and as a means of payment for illegal commodities. But this is not the case today. As far back as 2013-2015, legal services accepting bitcoin emerged, and in 2016-2018 their market has undergone explosive growth.

The pioneers of the cryptocurrency market of goods and services in 2013, were, for example, Virgin Galactic – space tourism company, Victoria’s Secret lingerie company, Shopify - a supplier of software for the online stores. In 2014, the cryptocurrency was adopted by the Overstock online store, Expedia tourism service, Zynga – operator of the online games, the software monster Microsoft and many others. Some of these companies considerably went up due to the innovations: for example, the shares of Shopify and Overstock have increased in price several-fold since then.

As of today, the cryptocurrency is accepted by hundreds of large companies and thousands of small ones, while the range of their products is approaching the one in a traditional economy. The most popular categories of the goods for the cryptocurrency in the large famous companies are tourism and air tickets (Expedia), software and games (Microsoft, Shopify, Zynga, Steam), clothing and other consumer goods (Victoria’s Secret, Overstock.com, Rakuten), as well as food products (Subway, KFC, Burger King – in Russia). As an example, Playboy erotic products, premium accounts of the 4chan.org and reddit.com forums, Bloomberg.com business news, automobiles in the Czech show room Alza and many other goods can be also purchased for cryptocurrency.

A number of well-known companies, although they prefer traditional payments, nevertheless allow crypto payments through the intermediary services, such as gyft.com (trading with the card Gyft for BTC). For example, Ebay online store, Wallmart supermarket chain, Starbucks restaurants, Uber taxi service, etc. The turnover of gyft.com is evaluated in the amount of 25 million dollars with only 38 employees.
Small start-up companies often use ready-made multicurrency gateways such as coinpayments.net. It supports dozens of currencies, and hosts about 400 companies. In addition to mainstream, it contains a lot of specialized commodities. For example, crypto-armory.com sells cartridges, francvila.com – Swiss watches, directvoltage.com - 3D-printers, electric motors, CNC machines, etc. Some new stores not only accept cryptocurrencies, but also purposely give up fiat currency. For example, crypto-armory.com, explaining their refusal from fiat currency, state both ideological, and narrow pragmatic reasons. In the opinion of the owners of the store, it is easier to accept cryptocurrency payments both technically and legally.

Cartridges from the cryptocurrency store crypto-armory.com
An important trend of 2017-2018, in addition to the general growth of the commodity market - re-orientation of the stores to the multi-currency payments. Whereas previously most of them accepted only BTC, now a sign of good manners is to accept also LTC, ETH, XMR and at least several more currencies.

Thus, while the politicians were solving the problem in the manner “not possible to allow - disallow”, a vast market of commodities for cryptocurrency spontaneously emerged on the Internet. Some of its participants have multibillion capitalizations. This market is very international. The majority of commodities and services can be bought even from Russia and other countries, where cryptocurrency is not legal as an internal payment instrument, but is not prohibited as such. Today, it is hard to imagine a consumer good, which cannot be bought for cryptocurrency.

The Latest Trend – Support of Cryptocurrencies by Smartphones

The first smartphone with a cryptocurrency wallet was HYPERLINK "https://bitcryptonews.ru/blogs/sravnenie-blokchejn-smartfonov-exodus-1-i-finney"HTC Exodus 1, released in the autumn of 2018. Then, a crypto smartphone HYPERLINK emerged "https://bitcryptonews.ru/blogs/obzor-kriptosmartfona-finney"Finney. And in March of 2019, the baton was unexpectedly picked up by the smartphone from the major South Korean company, Samsung - Galaxy S10. And although Samsung refrained from the direct embedding of the cryptocurrency wallet into the standard supply set, a brand wallet of Samsung can be installed from the Galaxy Store.

https://preview.redd.it/p8zc6dat0ay21.jpg?width=1280&format=pjpg&auto=webp&s=d7f173f7470107c2f4cc5868ed882089499b2a09
Galaxy S10 – the first smartphone from Samsung with cryptocurrency support
On the part of crypto enthusiasts, there are a number of claims to Samsung initiative, among which – the lack of bitcoin support (BTC). At the moment, Samsung Blockchain Wallet supports only Ethereum (ETH) and ERC-20 standard currencies and tokens created on its basis:
Basic Attention Token (BAT), Chainlink (LINK), BinanceCoin (BNB), True USD (TUSD), USD Coin (USDC), Paxos Standard (PAX) and others.

Anyway, from a political and PR perspective, the emergence of Galaxy S10 is a great event.

First of all, smartphone can attract to the cryptocurrency market new people who have greater confidence in the famous brand, than in the traditional bulky cryptocurrency wallets. Now, many people are frightened away from the cryptocurrencies only by technical difficulties, whereas smartphones on many occasions have proved their ability to promote to the masses those things, which previously seemed to be very complex.

Secondly, this step of Samsung is a clear signal both to the domestic and foreign governments: big business is on the side of the new technologies. South Korea has a reputation of a country not very friendly to cryptocurrencies, however, its business giant publicly demonstrated another attitude.

Thirdly, the initiative of Samsung with a high degree of probability will be emulated by other leading producers of communication devices. Thus, shortly after the release of Galaxy S10, there appeared a news that a cryptocurrency wallet will soon be available in iOS Opera Touch, which means that cryptocurrencies can be also stored in iPhone of Apple.

All this creates excellent prerequisites both for the world legalization of the cryptocurrencies, and for the growth of the market due to the increase of the number of users.

Conclusion

Thus, despite the “roller coaster” of the cryptocurrency exchange rates, some fundamental processes have developed steadily in the same direction in the recent years: expansion of the commodity market for cryptocurrency, increase in the number of countries with a liberal attitude to cryptocurrencies, adoption of cryptocurrencies as a strategic technology by more and more industrial giants. The total number of individuals who tried to work with the cryptocurrencies grows steadily, while the new technological trends (in particular, crypto smartphones), can additionally accelerate this growth.

The only thing that can seriously damage a cryptocurrency market is its global ban, but it seems to be unlikely. Right now there are about 40 million bitcoin wallets on earth. It is believed that on average their number is doubled annually, which means that within 5 years it can reach a billion. And if now a global ban on cryptocurrencies is unrealistic due to their profitability for the developed countries, by that time their prohibition will become impossible almost physically.

In the first part of the story we had put forward the arguments as to why the investors need not fear the bubble of 2017-2018: in the end, the bubble showed not so much the riskiness of the crypto investments, but rather their long-term prospects. Today we described political and economic events, which have occurred in parallel “behind the scenes”, and in which there were no “drops” – only progressive development toward the construction of the crypto economy. And in the next, third part, we will try to describe in detail specific financial reasons of the collapse and recovery of the market in 2018-2019.

Analytical department, Trident company, Victor Argonov, Candidate of Physical and Mathematical Sciences.
Source:http://trident-germes.com/
https://www.facebook.com/Germes.mining.robot/
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[uncensored-r/Bitcoin] /r/Bitcoin FAQ - Newcomers please read

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

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV.
Key properties of bitcoin
  • Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary.
  • Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
  • Accountable - The public ledger is transparent, all transactions are seen by everyone.
  • Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works.
  • Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
  • Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
  • Low fee - Transactions fees can vary between a few cents and a few dollars depending on network demand and how much priority you wish to assign to the transaction. Most wallets calculate the fee automatically but you can view current fees here.
  • Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
  • Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.
  • Pseudonymous - No need to expose personal information when purchasing with cash or transacting.
  • Secure - Encrypted cryptographically and can’t be brute forced or confiscated with proper key management such as hardware wallets.
  • Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being met
  • Nearly instant - From a few seconds to a few minutes depending on need for confirmations. After a few confirmations transactions are irreversible.
  • Peer-to-peer - No intermediaries with a cut, no need for trusted third parties.
  • Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply remembering a string of words for wallet recovery.
  • Scalable - Each bitcoin is divisible down to 8 decimals allowing it to grow in value while still accommodating micro-transactions.
  • Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiat
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here, here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

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

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
  • If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor or Ledger is recommended. A more advanced option is to secure them yourself using paper wallets generated offline. Some popular mobile and desktop options are listed below and most are cross platform.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
  • If you prefer to let third party "Bitcoin banks" manage your coins, try Coinbase or Xapo but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

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

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
  • 1-3% savings over credit cards or PayPal.
  • No chargebacks (final settlement in 10 minutes as opposed to 3+ months).
  • Accept business from a global customer base.
  • Increased privacy.
  • Convert 100% of the sale to the currency of your choice for deposit to your account, or choose to keep a percentage of the sale in bitcoin if you wish to begin accumulating it.
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

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

Earning bitcoins

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

Bitcoin Projects

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

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin ?BTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (?L) or micrometre (?m)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
  • 0.02 BTC
  • 20 mBTC
  • 20,000 bits
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
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NOOO WAY!!! LAST TIME BITCOIN DID THIS WE PUMPED 3'200%! [holding chainlink/algorand? [watch this!!] Bitcoin News Review 2 June 2016 Overstock CEO: bitcoin a 'form of sound money' Overstock Newsroom - YouTube Overstock CEO on the power of bitcoin

While the winnings of a bank heist can be hard to track, it’s a different story for Bitcoin and crypto After more than three years of development, blockchain-powered tokenized security exchange tZERO appears to be on the verge of a full public debut. The Overstock.com-backed project released series of videos yesterday, demonstrating how tokenized versions of stocks and other securities can be bought, sold, and traded on the platform. While some cryptocurrency exchanges currently allow … Overstock, one of the leading e-commerce platforms has announced the plan to start trading its own stocks on its proprietary blockchain platform.. T0, as the platform is called, has been in development since over an year, and is expected to feature improved equity trading settlement services. Online retailer Overstock.com has become the first publicly traded company to issue stock over the internet, distributing more than 126,000 company shares via technology based on the bitcoin Overstock.com Inc. shares fell for a third day Wednesday as investors reacted to statements by Chief Executive Officer Patrick Byrne that he was a part of federal investigations related to the

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NOOO WAY!!! LAST TIME BITCOIN DID THIS WE PUMPED 3'200%! [holding chainlink/algorand? [watch this!!]

Overstock.com CEO Patrick Byrne talks with CNN's Zain Asher about the potential strengths of bitcoin during a dollar crisis. Overstock.com CEO Patrick Byrne on the online retailer's blockchain business. ... Why the Overstock CEO is a fan of bitcoin - Duration: ... VICE News 71,036 views. #bitcoin #twitter #crypto #interest #stockmarket #recession #bearmarket #bullmarket #davincij15 #mmcrypto #btc #bitcoinprice #bitcointoday #crash #economy #inflation #ecb #fed #federalreserve # ... Overstock.com CEO, Patrick M. Byrne, Discusses Overstock.com Accepting Bitcoin on FOX Business - Duration: 4 minutes, 53 seconds. Overstock Newsroom 6 years ago VICE News spent time with Byrne at a party in Miami, at Overstock headquarters in Utah, and at his secretive ski chalet to find out why he's betting big on the technology behind bitcoin.

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