1 BITS to BTC - Exchange - How much Bitcoin (BTC) is 1 ...

QuarkCoin Cryptocurrency

Quark is a decentralized digital monetary system. It facilitates sending Quarks to Friends, Family Members Online Payments free of charges and charge-backs. Military Grade Encryption. No Bank or Government Control. Quark coins are based on the original idea of Bitcoin but improved, more secure, faster transaction times and zero fees. With improvements to design and security. There is also a greater coin supply with higher block rewards for miners. Quark is fully Open Source.
[link]

I'm new to the crypto idea, I heard Monero is better to BitCoin. How do I use it, including creating wallets and how do I keep it safe from hackers? Also can it be converted into dollar bills? I heard Australia is considering going cashless, so I'm getting a bit nervous about other regions.

...Oh and converting between Bitcoin and Monero safely,
submitted by PurpleIsTruth to Monero [link] [comments]

SMART CRYPTO! No capital involve Free Registration Launches in few days FRH Airdrop Receive 41.65FRH =$371.94 It launches soon Register and confirm your email 👉Note: it launches soon; then you Sell, Convert and withdraw your FRH coins to Bitcoin or Cash Instantly bit.ly/2sQ6xFL

SMART CRYPTO! No capital involve Free Registration Launches in few days FRH Airdrop Receive 41.65FRH =$371.94 It launches soon Register and confirm your email 👉Note: it launches soon; then you Sell, Convert and withdraw your FRH coins to Bitcoin or Cash Instantly bit.ly/2sQ6xFL submitted by kuryliuk10 to u/kuryliuk10 [link] [comments]

Volentix aims to convert all exchanges into nodes on the VDEX network! Learn more:https://bit.ly/2X8Eyue #volentix #vdex #vespucci #verto #venue #bitcoin #eos #dex #crypto #decentralized #p2p

Volentix aims to convert all exchanges into nodes on the VDEX network! Learn more:https://bit.ly/2X8Eyue #volentix #vdex #vespucci #verto #venue #bitcoin #eos #dex #crypto #decentralized #p2p submitted by iqra13 to u/iqra13 [link] [comments]

Volentix aims to convert all exchanges into nodes on the VDEX network! Learn more:https://bit.ly/2X8Eyue #volentix #vdex #vespucci #verto #venue #bitcoin #eos #dex #crypto #decentralized #p2p

Volentix aims to convert all exchanges into nodes on the VDEX network! Learn more:https://bit.ly/2X8Eyue #volentix #vdex #vespucci #verto #venue #bitcoin #eos #dex #crypto #decentralized #p2p submitted by soniaraza12 to u/soniaraza12 [link] [comments]

SLPT:As 1Byte equals 8 Bits, Buy Bytecoins and convert them into Bitcoins to sell them at profits.

submitted by ImmortalTimeTraveler to ShittyLifeProTips [link] [comments]

How is bit on converted to currency /r/Bitcoin

How is bit on converted to currency /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin mentioned around Reddit: Converting Bits to USD on MT4 /r/Forex

Bitcoin mentioned around Reddit: Converting Bits to USD on MT4 /Forex submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Gave a few bits to a new convert then proceeds to lose them immediately /r/Bitcoin

Gave a few bits to a new convert then proceeds to lose them immediately /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Name a 2017 / 2018 moonshot IEO that was initially popular and is now either dead or ghosting away - I'll start, SVD

SVD is Savedroid. Savedroid was an ICO in 2018 right at the peak of the mania, not quite at the top price wise, but still when greed was insanely high.
Now SVD raised an incredible $50 million, for an app that simply automates your saving. That's it. In today's environment I can see that going for maybe $500k or so, IF that. Maybe they could call themselves a Defi food coin instead and get some money in via uniswap.
Demand was very high, with all tokens sold in a week. So all it would do is you would set some criteria - say, if I do 10 push ups a day I want to save $1 into BTC, you'll input that and the app would buy the bitcoin with $1. (I have no idea why you couldn't do that manually, but anyway).
Things got off to a bad start when on day 1 the CEO, Yassin Hankir decided to pull a "fake exit scam", with a twitter message "thanks guys, over and out" with the website replaced with the message "...and its gone". He then back pedalled and said actually it was a joke and meant to show case other scammy projects. Investors weren't particularly amused, especially as this coincided with the coin listing, causing the price to plunge into the eternal depths of hell faster than Grin Coin or an FTX listing.
Well that doesn't really matter because the project seems to have died, with the founder moving onto another project, leaving behind an app that is apparently barely functional, and doesn't even allow ICO investors to use their SVD on the platform.
The ICO price was 1 cent - pretty cheap right? Well no, apparently the token price is now $0.0000541 with a daily volume of zero. Market cap it $158k, but no idea how that is calculated. Not exactly a great way to save if you were an investor!
Naturally they have been delisted from all but a couple of obscure DEXes and even there volume is dead (this is despite various promises of top exchanges).
And the cherry on top - last week the project rebranded as "Trumpbit", a new app that does the same thing (converts your money into BTC) by a certain amount each time Trump tweets. Only problem is people are having trouble moving their funds across from one platform to another, lost email addresses etc. I have no idea what happens if Trump loses the election, maybe it will be come Bidenbit or something. This is of course leaving aside the fact that your $50M ICO has rebranded to a coin named after Trump (not a political comment but a bit of a head scratcher).
You can even pop by their reddit sub, where there have been around 4 comments in 1 year, or if you are bold, visit their telegram group to see various howls of outrage and people wondering where their investment has gone.
Name and shame your preferred coin of death!
submitted by Cryptodragonnz to CryptoCurrency [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

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


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

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

For anyone who is at all informed about wallets and exchanges, especially their fee structures or how exchange rates work, I have a short story, followed by a question, and I would greatly appreciate your insight and advice.

Heavily-edited Xpost from cryptocurrency after reading a very enlightening post regarding meme spam and moon harvesting...what on earth is wrong with people...?
First off, super quick, can anyone steer me toward a cryptocurrency converter that takes timestamps into consideration? I need a conversion tool that I can plug dates and times into that can tell me how much the contents of my wallet was on a given day and time. Or how much a transaction was worth at the time that it was sent. These must exist, and yes, I've Googled for them, but I never find exactly what I'm looking for. I figured Reddit probably knows, because collectively, Reddit knows pretty much everything. 😁😁
Okay so, story:
I sent a friend 11.88 XMR this morning through an exchange service that claims to not cost anything to send to other users within the service. He only received 11.55. We didn't notice it at first, and he proceeded to forward that money on to a third party who informed him he was short, as she had only received 11.24 xmr and change.
I'm sure you're all aware of this, but Monero's value has increased by like $25 just this weekend. Cool, right?
Sure it is, but not at all the point, which is that 11.88 XMR (at the time I found out that what I sent wasn't what got received and went looking through my transactions and thought to plug numbers into a converter and see how much we lost) was roughly $1,582. But 11.55 xmr was only $1,538. And 11.24 was only $1,497.
So to transfer coin from point A to point C, all within a service which is supposedly free to send within that service, ended up costing us like $85 somehow? And legit, guys, I'm not sure how or why.... (Hence the need for a converter that allows for timestamps. When I complain about my missing money, it would be good to have accurate exchange rates available.)
So once I realized that, I went looking through my transaction history. There's similar discrepancies relating to actual coin exchanges also, where I've traded Bitcoin for Monero or vice versa, but the value of what I traded is greater than the value of what I traded it for. By quite a bit.
This morning, for instance, I had 0.14196176 Bitcoin (worth $1,641 when I looked it up later) that I exchanged for 11.8424500192 Monero (worth $1,566). So like...where the hell is the other $75?
Again, this service advertises the lack of hidden fees and the free exchange of coins. Transaction fees are minimal, like 0.005 or something. Withdrawl fees also. I use it for the exact reason that one of the third party exchange services that Edge wallet uses cost me like $50 the one time that I used it, and the chunk of money being exchanged was way more than this was today. But what Really aggravates me about the situation is that I'm a donor to this service for the express reason that they've (supposedly) saved me so much money and so many headaches, while maintaining a (Supposedly) free service in the interest of preserving users' privacy. I'm pretty fucking outraged about it honestly, but I'm trying to maintain some semblance of composure because....
I'm aware that I don't know what I don't know. And I don't have all that much experience with/various exchanges. For all I know, there is a standard deduction I should have been aware of all this time that I just didn't know about. Or I should but don't know that there's typically a loss of ×% when trading one coin for another. Or...something, you know? So I don't want to rant and rave about shitty business practices and them effectively misleading their users and stealing our money if what's actually happening is that I just don't know what the hell is going on or how anything works, if that makes sense.
I have a (polite) email drafted to the support staff of the service requesting some clarification regarding their fee structure, as well as an explanation for their having marketed themselves as offering such a service for their users and claiming not to charge us for it but then apparently doing exactly that.
Before I send it though, I thought it might be wise to consult others who have more experience than I with exchanges and wallet services. I was hoping that someone much more experienced with and educated on cryptocurrencies/wallets/exchanges/etc might be able to give me a crash course on why I lost $160 by using a service for it's intended purpose, and who I need to bitch at to get it back. (I'm just kidding. I'm perfectly aware that it's never getting refunded. Because why would it?)
So my question is: What don't I know?
Basically any information or considerations at all that I should be aware of or just insights that might be in any way helpful would be really appreciated. And not that I expect any, but I wouldn't turn down any tips y'all might wanna share regarding how I might quickly earn back the money we lost, since now we're short lol. (Lost? Spent? I'm not sure how to classify that in my head....)
Thanks guys!
submitted by spun-princess to CryptoCurrencies [link] [comments]

I want to share my 2017 crypto market experience for anyone who wants to read it, I was one of the greedy guys who knew nothing about trading and still made a potential ton, then lost it all due to, well... Being greedy and knowing nothing about trading.

This does not really bother me much, but I haven't been able to stop thinking about it either, what could have been, I will try to be as brief as posible:

Back in 2011-2016 I was working as a software developer freelancer, back then I lived in Venezuela, and mostly used paypal to charge clients, paypal would constantly limit my account, but I would get it back after submitting documents and a bit of begging, this was the only way I could receive payments from international clients, and basically the single point of failure in the process of delivering my work and getting paid, if paypal permanently banned me I would be completely screwed.

About 2015-2016 my paypal got limited permanently, no reason stated, I thought it was really unfair as I only received payments from business in countries like the US or Canada, no sketchy money entering my account, anyway, when this happened I became incredibly stressed and depressed, all I could think was I wouldn't be able to feed my family anymore, and what would I do if an emergency happened that same day or week or however long it took me to figure out how to receive payments again through another method, all I had was held in my paypal account, so I had nothing to defend myself in the meantime.

Anyway, it took me about a week of constant reading to realize I could convince a few clients to buy crypto for me, I lost about 60% out of my stream of income due to clients ditching me as they didn't want the bother of purchasing crypto just to pay a freelancer they could replace for one that was easier to work with, I used localbitcoins to sell the bitcoins I got for national currency so that I could purchase what I needed, I was not really able to stock up on some bitcoin as an investment as I spent everything I earned due to sustaining my almost the entirety of my immediate family.

Fast forward to 2016 or 2017, and I start to try out purchasing bits of crypto, and trying to time the market to make a little bit more, doing this somehow I managed to convert about $100, into $400-$500 in a matter of a few months.

Then hits late 2017, around august I believe, when everyone was purchasing alts like crazy even if they were scams, most people were blinded by greed, me included, it was at that point that I decided to drop work for a few weeks to see if I could make some good profit out of the state of the market, and so I took those $400 or $500, and started to daily trade with it, making 20% sometimes, 30% or 50%, as well as sometimes losing everything I had done during the day, a few of the trades I remember doing was purchasing LTC, XRP, IOTA, BCH and a few more right before they 2x or 3x in price, I was doing swing trades with the entirety of my portfolio, because I realized I could earn more that way, so if I had 5k total in crypto, I would do the swing trade with the entirety of it, and either lose $1000 or make $1000 if it moved 20% in either direction, my only real strategy was to read up on most recent trading discussions on a few social media, which was no strategy at all, I was just being reckless, I remember I could only sleep 2 hours every night because I was afraid of losing everything while being asleep, I set a bunch of alerts, was stressed, didn't want to talk to relatives nor anyone because I would feel like dying when losing 10% or 20% out of my portfolio when it grew to a certain point.

Anyway, at some point I got up to $20k, or $25k, then decided to put it all in XML because I had read some discussions on it, and realized people seemed to really like it, don't remember exactly what was my entry price, but when XLM almost got up to $0.70 - $1 a few days or weeks later, my portfolio was worth $130k, and it remained that way for a whole 24 hours or so, If I remember correctly My heart was racing, I thought for sure I was going to make it $1m at some point

Then, of course, everything started to crash hard... just a few days later my portfolio was worth $80k, a few days more and I was at $60k, I started to panic like any regular silly greedy guy and tried to profit off some swings only to lose more than I would profit from, months of sleepless nights later, with a lot less hair in my head, I finally decided to take it all out, at which point I had about $12k worth of crypto.

I used that money to get me, my wife and my mom out of the country, I was also lucky to have dual citizenship thanks to my mom having been born in another country, so I could move to a first world developed european country instead of another struggling country in south america, I was able to set up proper bank accounts so that I could find good clients and make it easier for them to pay me my dues and still use crypto for those that were willing, and of course, I took my work back as a freelancer, although by this point my previous clients had found other people to work with.

In the end things turned great, I suppose, I would not have been able to save up those same $12k while working as a freelancer back in Venezuela, not even close, that whole experience got me out of that awful country and way of life, still, I can't stop thinking that if I at least had gotten out at $80k, or even $60k, I would have a down payment on a decent house, were, even 1/3 of the price of it, easily... instead, I blew through it while moving to the new country and paying a year worth of rent plus a couple of work laptops for both me and my wife.

This part of my life will always be a crazy memory to keep, and share with future friends I may make, so I felt like sharing it here as I have been watching the sub for a while, though I just lurk.
submitted by frostykuiper to CryptoCurrency [link] [comments]

Proposal: The Sia Foundation

Vision Statement

A common sentiment is brewing online; a shared desire for the internet that might have been. After decades of corporate encroachment, you don't need to be a power user to realize that something has gone very wrong.
In the early days of the internet, the future was bright. In that future, when you sent an instant message, it traveled directly to the recipient. When you needed to pay a friend, you announced a transfer of value to their public key. When an app was missing a feature you wanted, you opened up the source code and implemented it. When you took a picture on your phone, it was immediately encrypted and backed up to storage that you controlled. In that future, people would laugh at the idea of having to authenticate themselves to some corporation before doing these things.
What did we get instead? Rather than a network of human-sized communities, we have a handful of enormous commons, each controlled by a faceless corporate entity. Hey user, want to send a message? You can, but we'll store a copy of it indefinitely, unencrypted, for our preference-learning algorithms to pore over; how else could we slap targeted ads on every piece of content you see? Want to pay a friend? You can—in our Monopoly money. Want a new feature? Submit a request to our Support Center and we'll totally maybe think about it. Want to backup a photo? You can—inside our walled garden, which only we (and the NSA, of course) can access. Just be careful what you share, because merely locking you out of your account and deleting all your data is far from the worst thing we could do.
You rationalize this: "MEGACORP would never do such a thing; it would be bad for business." But we all know, at some level, that this state of affairs, this inversion of power, is not merely "unfortunate" or "suboptimal" – No. It is degrading. Even if MEGACORP were purely benevolent, it is degrading that we must ask its permission to talk to our friends; that we must rely on it to safeguard our treasured memories; that our digital lives are completely beholden to those who seek only to extract value from us.
At the root of this issue is the centralization of data. MEGACORP can surveil you—because your emails and video chats flow through their servers. And MEGACORP can control you—because they hold your data hostage. But centralization is a solution to a technical problem: How can we make the user's data accessible from anywhere in the world, on any device? For a long time, no alternative solution to this problem was forthcoming.
Today, thanks to a confluence of established techniques and recent innovations, we have solved the accessibility problem without resorting to centralization. Hashing, encryption, and erasure encoding got us most of the way, but one barrier remained: incentives. How do you incentivize an anonymous stranger to store your data? Earlier protocols like BitTorrent worked around this limitation by relying on altruism, tit-for-tat requirements, or "points" – in other words, nothing you could pay your electric bill with. Finally, in 2009, a solution appeared: Bitcoin. Not long after, Sia was born.
Cryptography has unleashed the latent power of the internet by enabling interactions between mutually-distrustful parties. Sia harnesses this power to turn the cloud storage market into a proper marketplace, where buyers and sellers can transact directly, with no intermediaries, anywhere in the world. No more silos or walled gardens: your data is encrypted, so it can't be spied on, and it's stored on many servers, so no single entity can hold it hostage. Thanks to projects like Sia, the internet is being re-decentralized.
Sia began its life as a startup, which means it has always been subjected to two competing forces: the ideals of its founders, and the profit motive inherent to all businesses. Its founders have taken great pains to never compromise on the former, but this often threatened the company's financial viability. With the establishment of the Sia Foundation, this tension is resolved. The Foundation, freed of the obligation to generate profit, is a pure embodiment of the ideals from which Sia originally sprung.
The goals and responsibilities of the Foundation are numerous: to maintain core Sia protocols and consensus code; to support developers building on top of Sia and its protocols; to promote Sia and facilitate partnerships in other spheres and communities; to ensure that users can easily acquire and safely store siacoins; to develop network scalability solutions; to implement hardforks and lead the community through them; and much more. In a broader sense, its mission is to commoditize data storage, making it cheap, ubiquitous, and accessible to all, without compromising privacy or performance.
Sia is a perfect example of how we can achieve better living through cryptography. We now begin a new chapter in Sia's history. May our stewardship lead it into a bright future.
 

Overview

Today, we are proposing the creation of the Sia Foundation: a new non-profit entity that builds and supports distributed cloud storage infrastructure, with a specific focus on the Sia storage platform. What follows is an informal overview of the Sia Foundation, covering two major topics: how the Foundation will be funded, and what its funds will be used for.

Organizational Structure

The Sia Foundation will be structured as a non-profit entity incorporated in the United States, likely a 501(c)(3) organization or similar. The actions of the Foundation will be constrained by its charter, which formalizes the specific obligations and overall mission outlined in this document. The charter will be updated on an annual basis to reflect the current goals of the Sia community.
The organization will be operated by a board of directors, initially comprising Luke Champine as President and Eddie Wang as Chairman. Luke Champine will be leaving his position at Nebulous to work at the Foundation full-time, and will seek to divest his shares of Nebulous stock along with other potential conflicts of interest. Neither Luke nor Eddie personally own any siafunds or significant quantities of siacoin.

Funding

The primary source of funding for the Foundation will come from a new block subsidy. Following a hardfork, 30 KS per block will be allocated to the "Foundation Fund," continuing in perpetuity. The existing 30 KS per block miner reward is not affected. Additionally, one year's worth of block subsidies (approximately 1.57 GS) will be allocated to the Fund immediately upon activation of the hardfork.
As detailed below, the Foundation will provably burn any coins that it cannot meaningfully spend. As such, the 30 KS subsidy should be viewed as a maximum. This allows the Foundation to grow alongside Sia without requiring additional hardforks.
The Foundation will not be funded to any degree by the possession or sale of siafunds. Siafunds were originally introduced as a means of incentivizing growth, and we still believe in their effectiveness: a siafund holder wants to increase the amount of storage on Sia as much as possible. While the Foundation obviously wants Sia to succeed, its driving force should be its charter. Deriving significant revenue from siafunds would jeopardize the Foundation's impartiality and focus. Ultimately, we want the Foundation to act in the best interests of Sia, not in growing its own budget.

Responsibilities

The Foundation inherits a great number of responsibilities from Nebulous. Each quarter, the Foundation will publish the progress it has made over the past quarter, and list the responsibilities it intends to prioritize over the coming quarter. This will be accompanied by a financial report, detailing each area of expenditure over the past quarter, and forecasting expenditures for the coming quarter. Below, we summarize some of the myriad responsibilities towards which the Foundation is expected to allocate its resources.

Maintain and enhance core Sia software

Arguably, this is the most important responsibility of the Foundation. At the heart of Sia is its consensus algorithm: regardless of other differences, all Sia software must agree upon the content and rules of the blockchain. It is therefore crucial that the algorithm be stewarded by an entity that is accountable to the community, transparent in its decision-making, and has no profit motive or other conflicts of interest.
Accordingly, Sia’s consensus functionality will no longer be directly maintained by Nebulous. Instead, the Foundation will release and maintain an implementation of a "minimal Sia full node," comprising the Sia consensus algorithm and P2P networking code. The source code will be available in a public repository, and signed binaries will be published for each release.
Other parties may use this code to provide alternative full node software. For example, Nebulous may extend the minimal full node with wallet, renter, and host functionality. The source code of any such implementation may be submitted to the Foundation for review. If the code passes review, the Foundation will provide "endorsement signatures" for the commit hash used and for binaries compiled internally by the Foundation. Specifically, these signatures assert that the Foundation believes the software contains no consensus-breaking changes or other modifications to imported Foundation code. Endorsement signatures and Foundation-compiled binaries may be displayed and distributed by the receiving party, along with an appropriate disclaimer.
A minimal full node is not terribly useful on its own; the wallet, renter, host, and other extensions are what make Sia a proper developer platform. Currently, the only implementations of these extensions are maintained by Nebulous. The Foundation will contract Nebulous to ensure that these extensions continue to receive updates and enhancements. Later on, the Foundation intends to develop its own implementations of these extensions and others. As with the minimal node software, these extensions will be open source and available in public repositories for use by any Sia node software.
With the consensus code now managed by the Foundation, the task of implementing and orchestrating hardforks becomes its responsibility as well. When the Foundation determines that a hardfork is necessary (whether through internal discussion or via community petition), a formal proposal will be drafted and submitted for public review, during which arguments for and against the proposal may be submitted to a public repository. During this time, the hardfork code will be implemented, either by Foundation employees or by external contributors working closely with the Foundation. Once the implementation is finished, final arguments will be heard. The Foundation board will then vote whether to accept or reject the proposal, and announce their decision along with appropriate justification. Assuming the proposal was accepted, the Foundation will announce the block height at which the hardfork will activate, and will subsequently release source code and signed binaries that incorporate the hardfork code.
Regardless of the Foundation's decision, it is the community that ultimately determines whether a fork is accepted or rejected – nothing can change that. Foundation node software will never automatically update, so all forks must be explicitly adopted by users. Furthermore, the Foundation will provide replay and wipeout protection for its hard forks, protecting other chains from unintended or malicious reorgs. Similarly, the Foundation will ensure that any file contracts formed prior to a fork activation will continue to be honored on both chains until they expire.
Finally, the Foundation also intends to pursue scalability solutions for the Sia blockchain. In particular, work has already begun on an implementation of Utreexo, which will greatly reduce the space requirements of fully-validating nodes (allowing a full node to be run on a smartphone) while increasing throughput and decreasing initial sync time. A hardfork implementing Utreexo will be submitted to the community as per the process detailed above.
As this is the most important responsibility of the Foundation, it will receive a significant portion of the Foundation’s budget, primarily in the form of developer salaries and contracting agreements.

Support community services

We intend to allocate 25% of the Foundation Fund towards the community. This allocation will be held and disbursed in the form of siacoins, and will pay for grants, bounties, hackathons, and other community-driven endeavours.
Any community-run service, such as a Skynet portal, explorer or web wallet, may apply to have its costs covered by the Foundation. Upon approval, the Foundation will reimburse expenses incurred by the service, subject to the exact terms agreed to. The intent of these grants is not to provide a source of income, but rather to make such services "break even" for their operators, so that members of the community can enrich the Sia ecosystem without worrying about the impact on their own finances.

Ensure easy acquisition and storage of siacoins

Most users will acquire their siacoins via an exchange. The Foundation will provide support to Sia-compatible exchanges, and pursue relevant integrations at its discretion, such as Coinbase's new Rosetta standard. The Foundation may also release DEX software that enables trading cryptocurrencies without the need for a third party. (The Foundation itself will never operate as a money transmitter.)
Increasingly, users are storing their cryptocurrency on hardware wallets. The Foundation will maintain the existing Ledger Nano S integration, and pursue further integrations at its discretion.
Of course, all hardware wallets must be paired with software running on a computer or smartphone, so the Foundation will also develop and/or maintain client-side wallet software, including both full-node wallets and "lite" wallets. Community-operated wallet services, i.e. web wallets, may be funded via grants.
Like core software maintenance, this responsibility will be funded in the form of developer salaries and contracting agreements.

Protect the ecosystem

When it comes to cryptocurrency security, patching software vulnerabilities is table stakes; there are significant legal and social threats that we must be mindful of as well. As such, the Foundation will earmark a portion of its fund to defend the community from legal action. The Foundation will also safeguard the network from 51% attacks and other threats to network security by implementing softforks and/or hardforks where necessary.
The Foundation also intends to assist in the development of a new FOSS software license, and to solicit legal memos on various Sia-related matters, such as hosting in the United States and the EU.
In a broader sense, the establishment of the Foundation makes the ecosystem more robust by transferring core development to a more neutral entity. Thanks to its funding structure, the Foundation will be immune to various forms of pressure that for-profit companies are susceptible to.

Drive adoption of Sia

Although the overriding goal of the Foundation is to make Sia the best platform it can be, all that work will be in vain if no one uses the platform. There are a number of ways the Foundation can promote Sia and get it into the hands of potential users and developers.
In-person conferences are understandably far less popular now, but the Foundation can sponsor and/or participate in virtual conferences. (In-person conferences may be held in the future, permitting circumstances.) Similarly, the Foundation will provide prizes for hackathons, which may be organized by community members, Nebulous, or the Foundation itself. Lastly, partnerships with other companies in the cryptocurrency space—or the cloud storage space—are a great way to increase awareness of Sia. To handle these responsibilities, one of the early priorities of the Foundation will be to hire a marketing director.

Fund Management

The Foundation Fund will be controlled by a multisig address. Each member of the Foundation's board will control one of the signing keys, with the signature threshold to be determined once the final composition of the board is known. (This threshold may also be increased or decreased if the number of board members changes.) Additionally, one timelocked signing key will be controlled by David Vorick. This key will act as a “dead man’s switch,” to be used in the event of an emergency that prevents Foundation board members from reaching the signature threshold. The timelock ensures that this key cannot be used unless the Foundation fails to sign a transaction for several months.
On the 1st of each month, the Foundation will use its keys to transfer all siacoins in the Fund to two new addresses. The first address will be controlled by a high-security hot wallet, and will receive approximately one month's worth of Foundation expenditures. The second address, receiving the remaining siacoins, will be a modified version of the source address: specifically, it will increase the timelock on David Vorick's signing key by one month. Any other changes to the set of signing keys, such as the arrival or departure of board members, will be incorporated into this address as well.
The Foundation Fund is allocated in SC, but many of the Foundation's expenditures must be paid in USD or other fiat currency. Accordingly, the Foundation will convert, at its discretion, a portion of its monthly withdrawals to fiat currency. We expect this conversion to be primarily facilitated by private "OTC" sales to accredited investors. The Foundation currently has no plans to speculate in cryptocurrency or other assets.
Finally, it is important that the Foundation adds value to the Sia platform well in excess of the inflation introduced by the block subsidy. For this reason, the Foundation intends to provably burn, on a quarterly basis, any coins that it cannot allocate towards any justifiable expense. In other words, coins will be burned whenever doing so provides greater value to the platform than any other use. Furthermore, the Foundation will cap its SC treasury at 5% of the total supply, and will cap its USD treasury at 4 years’ worth of predicted expenses.
 
Addendum: Hardfork Timeline
We would like to see this proposal finalized and accepted by the community no later than September 30th. A new version of siad, implementing the hardfork, will be released no later than October 15th. The hardfork will activate at block 293220, which is expected to occur around 12pm EST on January 1st, 2021.
 
Addendum: Inflation specifics
The total supply of siacoins as of January 1st, 2021 will be approximately 45.243 GS. The initial subsidy of 1.57 GS thus increases the supply by 3.47%, and the total annual inflation in 2021 will be at most 10.4% (if zero coins are burned). In 2022, total annual inflation will be at most 6.28%, and will steadily decrease in subsequent years.
 

Conclusion

We see the establishment of the Foundation as an important step in the maturation of the Sia project. It provides the ecosystem with a sustainable source of funding that can be exclusively directed towards achieving Sia's ambitious goals. Compared to other projects with far deeper pockets, Sia has always punched above its weight; once we're on equal footing, there's no telling what we'll be able to achieve.
Nevertheless, we do not propose this change lightly, and have taken pains to ensure that the Foundation will act in accordance with the ideals that this community shares. It will operate transparently, keep inflation to a minimum, and respect the user's fundamental role in decentralized systems. We hope that everyone in the community will consider this proposal carefully, and look forward to a productive discussion.
submitted by lukechampine to siacoin [link] [comments]

The Meme Contest Is Over! Here are the winners.

The Meme Contest Is Over! Here are the winners.
First Place, for 8 AVAX: u/hooooman_
The Meme
My reason: His meme was very creative, merged different elements together that made the meme fun, and was well-balanced.
Second Place, for 6 AVAX: u/Genskyblue
The Meme
My reason: His meme was pretty well-thought out, creating an Avalanche using the Avalanche logo, and going straight for Bitcoin. A nice, focused, clean, funny meme.
Third Place, for 5 AVAX: u/Puzzleheaded-Ad-7864
The Meme
My reason: His meme was pretty epic, taking a scene from a Marvel movie and making it about Avalanche.
Fourth Place, for 2 AVAX: u/writenext
The Meme
My Reason: It is a decent meme with a decent message, about people involved with Avalanche being better off than what they were before. Effort was also put into this one.
Fifth Place, for 2 AVAX: u/ladyhanabae
The Meme
My reason: It was a pretty creative meme, even if not visually the best, I can tell that exceptional effort was put into it.
Sixth Place, for 2 AVAX: u/minivipers
The Meme
My Reason: Although the meme was a bit unorthodox and more of an intellectual statement than a seriously-funny meme, it was pretty strong in the regard that it illustrates Avalanche as a platform where you can do anything your imagination can think of. And the Matrix is pretty cool, so there is that.
TXIDs:
ID: 3rwHSaYsVUM7eExAxhfGjdW17m8Hghxm3V434dYzaJR3q4FQ6v ID: KQoKf1nDSL9vkCYHWgJYVFrzrs7MYmDGgRVwm3DDQJu3j8nJU ID: eQbAscbADx9dVJLdFpw7N7VyL5PhG4BGKPVDTR7JqtpGnKPSa ID: Lm7fk8LoMRKoUyTvYgxrpMp53hdtGKG8ZZEifzzSGE7k4DD8a ID: XmNiRcqo228CNqypepm1ZNycJHKk53G4nWtZtqWAcrC5AankW ID: 2rYr6LUXefkbFYRRPbjzkLAtqGF5Bh3rHQhBp797kWmd7BxLKk
Anyways, thank you all for participating. I apologize to anyone who didn't win or did not get a chance to participate in the contest which lasted from Monday to Friday. And remember to help keep our community active and positive!
submitted by Jstodd_ to Avalanche_ [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

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

Watch out for scams

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

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

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

Can I mine bitcoin?

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

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

2021/01/06 UK Crypto Ban

Hey everyone, I'm sorry I've not been able to find any information about this. I'm wondering how folks are planning to buy and save bitcoin to their wallet after this ban? I use Bitbargain but sure enough they're closing shop in the UK after this ban. I'm sorry I've not been able to find any reliable information. I have account like Binance and Cake (for Monero converting). But yeah it's just a bit of a headache, I can't believe that it will be impossible to get bitcoin in the UK but that's definitely the way the authorities are enjoying portraying it, Muppets they are! Thank you kindly in advance for any information you might have with regards to life after 6th Jan 2021
submitted by stretchandspoon to Bitcoin [link] [comments]

Taxes and Claiming a Crypto Hack as a Loss

Hey Guys,
So I am running through my taxes, due to the automated letter, I have to declare taxes for this year and 2017/2018. Basically looking for advice on declaring an exchange hack and receive feedback on any good quality accountants that deal with crypto and have experience with exchange hacks.
To give a short summary, I put in $23,000 and rode the wave of gains until the market drop. I didn't know about the tax obligations at the time, thinking that it only applied when converting to fiat. I was a victim of the BitGrail scam, losing about $100,000-$120,000 in value of XRB/Nano, which ultimately killed my focus on Bitcoin and cryptocurrency.
I know that I can use the BitGrail situation as a capital loss to offset any gains. However, due to the way the BitGrail situation was handled, I now do not have access to any of my keys or figures from BitGrail as we cannot access this information anymore. All I have is a "Recover your BitGrail account" email and the "Fallimento" emails from the legal proceedings. I know that I had somewhere between 1000-1100 XRB/Nano.
Do any of you know how I can best go about handling this situation and reporting this for my 2017/2018 tax return? If any of you have suggestions for good tax accountants that handle cryptocurrencies and also have experience in deal with exchange hacks, that would be so greatly appreciated.
Also, do you think that the authorities in possession of the BitGrail exchange/data would be able to extract any information if requested?
Thank you all in advance, really looking to move forward from this chapter of my life.
submitted by NauteeAU to BitcoinAUS [link] [comments]

Announcement on Preparations of Coming BCH Fork & Launch of Forked Coins Futures Markets

Announcement on Preparations of Coming BCH Fork & Launch of Forked Coins Futures Markets

https://preview.redd.it/etcgo7f7l0p51.jpg?width=900&format=pjpg&auto=webp&s=3fdc41c9077c5d3461e29829c2e76de3853e4915
Dear CoinEx users,
The Bitcoin Cash (BCH) network will undergo a semi-annual hard fork upgrade on November 15 as scheduled. The Bitcoin ABC team plans to introduce new Coinbase rules in this upgrade, and allocate 8% of block rewards to developers to support the infrastructure construction of BCH, namely Infrastructure Funding Plan (IFP). This Plan has aroused hot discussions and controversies in the BCH community. Among them, the Bitcoin Cash Node development team launched BCHN full node that is incompatible with the BCH full node developed by the BitCoin ABC team, and the BCHN full node implementation removed the Coinbase rules and won support from most miners.
Since the Bitcoin ABC full node implementation is widely used and recognized, it is very likely that BCH will be split into two chains during the upgrade. One of which will inherit the name of BCH and the other will adopt a brand new name. If a fork occurs, all BCH holders can get two cryptocurrencies at a 1:1 ratio.
Unlike previous forks, this potential fork may be unable to continue due to lack of hashrate for a certain chain, or it possibly bring about two chains but not knowing which chain will use the name of BCH. More complexly, this fork lacks a transaction replay protection mechanism, which may result in considerable chaos and users’ asset loss.
CoinEx is a strong proponent of the BCH ecosystem, supporting trading markets with BCH as the pricing coin. To provide users with better services, we are going to launch futures markets of BCH forked coins on September 24, 2020. The details are as follows:
  1. Before the official fork on November 15, users can convert BCH into BCHA and BCHN at a 1:1 ratio. BCHA represents the Bitcoin ABC chain after the fork while BCHN represents the Bitcoin Cash Node chain. Also, users can re-convert these two forked coins into BCH at the same ratio before the fork. We will support BCHA/BCH and BCHN/BCH markets soon, and more markets later if needed.
  2. If BCH forks into two chains on November 15, we will appoint the chain with the highest price at the last moment before the fork as BCH. Users who hold the forked coin of that chain can obtain BCH at a 1:1 ratio, and BCH holders can get two different coins at the same ratio. In the future, we will re-adjust the naming rules based on the community consensus.
  3. If Bitcoin Cash does not fork on November 15, then whichever chain wins will inherit BCH. At the same time, we will delist the forked coin of the other chain. Therefore, please be aware of investment risks.
Opening Time
  1. Call Auction 3:00-11:50 September 24, 2020 (UTC)Orders can be placed and cancelled 11:50-12:00 September 24, 2020 (UTC) Orders can be placed but cannot be cancelled
  2. Trading 12:00 September 24, 2020 (UTC)
Risk Warning:Since BCH fork owns great uncertainty, trading or investing in forked coins is risky. Without support of miners, a chain may fail to survive and all related coins will be in vain. Please be note that CoinEx will not promise for the future values of any forked coins!
CoinEx TeamSeptember 23, 2020
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submitted by CoinExcom to Bitcoincash [link] [comments]

Bitcoins Cashout - Current Bitcoin Value Exchange BTC To USD

The idea that bitcoins can easily convert into cash is why people are rushing to invest in it. There are plenty of businesses that accept payment in Bitcoin now as well. Since Bitcoin proves to be the king of the cryptocurrency world, it clearly shows the rapidly growing popularity of buying and selling bitcoins. Converting a Bitcoin into any currency of your choice is quite easy and simple.
When talking about converting bitcoin into cash or any currency of your choice, first you need to deposit your bitcoin in a specific marketplace. Afterwards, look for interested buyers in the marketplace and sell it to them. They are capable of converting your bitcoin in a fast and easy way. Also, they will transfer the amount to any digital wallet of your choice.
The first step towards converting the Bitcoin into cash is to compare the value of your bitcoin to other marketplaces as every marketplace offers different rates. Just as if one site offers a five percent rate of your Bitcoin, the other one can provide you with a ten percent rate for the conversion of your Bitcoin. Moreover, Make sure to choose the marketplace that asks you to sell your bitcoin directly in the marketplace, not the one that asks you to sell it to another person.
Therefore, be sure to convert your Bitcoins in the market value according to your satisfaction. Bitcoinscashout proves to be the best Bitcoin to cash converter website. Make sure to compare your Bitcoins to the marketplace that offers affordable services or requires low fees. However, the service fee schedules keep changing from time to time.
Be sure to keep enough knowledge about the fee according to the current situation and consider the marketplace that offers the best rates. Bitcoin to paypal instant website ensures you to compare the market value of your bitcoin with the top marketplaces so that you can have as much profit as possible. It also doesn’t require any kind of transaction fees.
Next, make sure to consider the Bitcoin conversion service that is safe to use. In this case, the Bitcoincashout service proves to rank the highest in being one of the foremost safest websites. Moreover, where other marketplaces take five or more than five days in the money transaction process, this website ensures you to transfer your money in three or less than three days.
Converting Procedure
To start the process of converting your Bitcoin into cash, you need to register an account on the website. This requires you to provide some of your personal information which includes your name, phone number, email address, and a little bit more information. After completing the registration process, make sure to read its terms and conditions to agree to start the conversion process.
Next, select the strongest security option while singing into the account. Now you can finally start the conversion process and deposit your bitcoin in the marketplace of your choice just by clicking the “Bitcoin Deposit” option and withdraw it by clicking the withdraw money option. Moreover, a lot of companies offer you to deposit your bitcoin in a debit card that automatically converts the Bitcoin into the currency of your choice.
You can buy a debit card as well, which involves a bunch of numbers that can help you with online purchases. Bitcoins to paypal account website provides you with the facility to transfer your amount in any digital wallet of your choice the moment your money arrives. Finally, now you can make online purchases from any online website or your nearest stores just by scanning the QR code on the checkout point.
submitted by zarihzhaider to u/zarihzhaider [link] [comments]

Uncle Passed ~4 years ago and just found out he was big into bitcoin/mining

I've tried googling to figure this out but I'm not tech savvy enough to understand/grasp it, so not sure if this is even possible, here is my situation:
My uncle passed in 2016 after a very short battle with an aggressive brain cancetumor etc. The last year of his life was plagued with memory issues but he did talk a bit about bitcoin/mining etc, however in my head he was doing some type of folding at home to help cure diseases etc.
Two weeks ago my aunt sold her house and began the moving process, upon showing up to help and clear out her basement I came across a varitable treasure trove of old PC parts. I'd say its hoarding, however it is all in immaculate shape and stored. Along with notebooks and some other information, we found the following:
6 desktop computers with large cases and lots of extra hardware inside, after talking to a friend they believe these may all be mining rigs. In the basement we uncovered 6 boxes of HDDs and graphics cards, however all of the HDD's seem to be 2-4TB and may or may not be dead drives?
I purchased an external HDD reader to see if there was any family pictures etc, on there. It's mostly family pictures and videos he'd saved or converted, however because of the news around bitcoin, and the amount of hardware, I wonder if there is a wallet / bitcoin whatever floating around somewhere in one of these drives. Is there an easy way to locate if there is anything of value here?
Sorry for length, wanted to include as much as possible for best results. Can answer any other info.

ATM we have: 6 PCs with a ton of stuff crammed in them, stacks of HDDs, stacks of graphics cards and a buncha notebooks littered with numbers that are confusing. I don't think these #'s etc are bitchain/codes, but have now way to verify.
submitted by censusMan69420 to Bitcoin [link] [comments]

Bitcoin and tax evasion?

Hello reddit,
Before you rip me apart, please understand I am just beginning to learn bitcoin. I admit that the entire concept has really grasped me.
My question is one of legit curiosity. Not trying to stir up trouble or say bitcoin is good or bad.
But basically, if I have bit coin as currency.. what’s to force me to pay taxes? The government would never know how much money I have more how much I’m spending. Wouldn’t this make it really easy to avoid taxes?
I understand that if btc were an actual currency that was provided by w2 income then obviously it would be reported to the irs. So this question doesn’t really apply to the potential future of bitcoin.
What I am talking about the immediate future. Say somebody makes $100k on a bitcoin investment. Sure if they converted to fiat and suddenly made a $100k investment that would set off alarms, but what if they made small deposits as needed. Just a few grand here or there.
I am not promoting breaking the law. I am just curious how bitcoin people reconcile this. I have a very high w2 income and I pay my taxes. Not gonna lie though, when nearly half my income goes to Uncle Sam it hurts! And I imagine that if there were a simple and u traceable way to avoid that I’m sure a lot of people would struggle with that temptation.
Any thoughts are appreciated!
submitted by Sobutie to Bitcoin [link] [comments]

How to Convert Reddit MOONS to Dai (and then Ethereum, Bitcoin, fiat etc)

There are already good resources out there such as:
https://medium.com/dappworks/full-guide-convert-reddits-moon-cryptocurrency-into-e349ec1992d0#:~:text=Click%20on%20arrow%20button%20in,Click%20%E2%80%9CSEND%20MOONS%E2%80%9D
Hopefully, the guide below can help fill in any blanks or give you an alternate route. Please note this is a long and fairly complex process and runs the risk of loosing MOONs and small amounts of Ethereum and Dai which are used in the transfer process. I take no responsibility for individuals using this guide and it is up to you to research other resources and do your due diligence.

  1. Post engaging content, comments or memes...
  2. Hope that you get upvotes
  3. The more upvotes you get, the more MOONS (a cryptocurrency token) at the end of the month you get
  4. These MOONS are tokens on the Rinkeby Test Network, not the main Ethereum blockchain
  5. Now time to convert these MOONS to Ethereum, Bitcoin, fiat etc
  6. Please note that I am not responsible for any loss of funds beyond this point to proceed with caution!!!
  7. You will want to link your reddit MOONS account to a Metamask account
  8. Download Metamask if you haven't already (it's a Chrome app)
  9. Find out the seed phrase for your Reddit Moons Wallet (don't share this with anyone and keep it safe!). Do this by opening the reddit app and clicking on 'Vault' on the left hand menu
  10. Then click the three little dots next to Vault (at the top)
  11. Now click Recovery Phrase
  12. Write this down with pen and paper
  13. Now open Metamask and import your seed phrase to link the account (Note that your MOONS will probably not appear yet, will get to that later)
  14. Next up we are going to want to go to the exchange where we can swap our MOON tokens for Eth (although it is not as straightforward a process as you might think)
  15. https://xmoon.exchange/
  16. You will see that this exchange has three sections. The first allows us to exchange MOONS (on the Rinkeby blockchain) to XMOONS (on the XDai blockchain, where Gas fees are paid in XDai rather than Eth). The second section allows us to exchange XMOONS for XDai. The third section allows us to exchange XDai for good old fashioned Ethereum (on the actual Ethereum blockchain).
  17. Before we get started with any exchanging, we need to configure metamask a bit.
  18. First up we are going to make Metamask show the MOONS that we have. To do this, change the network from 'Main Ethereum Network' to 'Rinkeby Test Network' at the top dropdown menu. Now click 'Add Token' and custom token. Now input the following:
  19. Token contract address: 0xDF82c9014F127243CE1305DFE54151647d74B27A
  20. Click next once
  21. Now click back (weird I know)
  22. In the decimals of precision enter 18
  23. You should now be able to see the correct number of MOONS and this should match the amount you saw on your vault in Reddit
  24. In preparation for later we are also going to want to add the xDai network to our metamask
  25. To do this click on that drop down at the top of top of metamask again and click Custom RPC
  26. Now enter exactly what is shown here https://www.xdaichain.com/for-users/wallets/metamask/metamask-setup
  27. Still with me? Now we are going to get to exchanging
  28. Switch metamask back to Rinkeby Test Network and on xmoon.exchange click 'connect' and follow the instructions shown on metamask
  29. We are also going to need some Rinkeby Ethereum (don't worry it's free since its just a test network, go to https://faucet.rinkeby.io/ to get some (don't need much)
  30. Now click MOON to xMOON and convert the amount you want to!
  31. This process can take quite a while (took me 30 mins) so grab a coffee
  32. To check if you have xMOONs now, change your metamask over to xDai network
  33. They should appear on the xmoon.exchange site
  34. Next we want to convert these xMoon's into xDai, however, we have to have some xDai in there in the first place to pay for the gas (remember that this xDai blockchain uses xDai to pay for gas not Eth!). To do this, buy some Dai (20 USD should do) in your favourite way (normal exchange, DeFi, etc.) and transfer it to your Metamask account Eth account (ON THE MAIN ETHEREUM BLOCKCHAIN, DON'T USE RINKEBY!). Also transfer around 10 USD worth of Eth to your metamask to cover any gas fees on the Main Ethereum Blockchain side of things.
  35. Great, now while keeping Metamask on the Main Ethereum Blockchain, click DAI to xDAI and convert around10-20 USD.
  36. Once this xDai has shown up (again could take a while), switch metamask back over to xDai blockchain and click xMOON to xDai (this should be fairly quick)
  37. Now click xDai to Dai (might take a while again, don't panic like I did!)
  38. You should now have Dai on the Ethereum blockchain held in your metamask (which you can see once you switch metamask back over to Main Ethereum)
  39. Feel free now to do with the Dai whatever you wish! Send to an exchange and swap to BTC or Eth, keep a hold of in metamask etc etc

Please feel free to offer comments and corrections in the comments :)

Edit 1: Typo fix!
submitted by christophertacon to CryptoCurrency [link] [comments]

How to turn BITCOIN into CASH! THE EASY WAY! - YouTube AED to Bitcoin, Bitcoin to AED Official TBC to BITCOIN Exchange Leaked - YouTube How To Convert Your Bitcoin To Cash FAST Using Coinbase ... How to Exchange Bitcoin to Ether using blockchain

A simple, easy-to-use Bitcoin converter Bitcoin to. United States Dollar ... Bitcoin to. United States Dollar. USD. Powered by CoinDesk. List of all currencies we convert from Bitcoin. United States Dollar (USD) Euro (EUR) British Pound Sterling (GBP) Australian Dollar (AUD) Canadian Dollar (CAD) United Arab Emirates Dirham (AED) Afghan Afghani (AFN) Albanian Lek (ALL) Armenian Dram (AMD ... he CoinDesk Bitcoin Calculator converts bitcoin into any world currency using the Bitcoin Price Index, including USD, GBP, EUR, CNY, JPY, and more. Although you can’t directly convert bitcoin to PayPal money, some of the exchange services will do this conversion for you. These exchanges act as an intermediate and thus making bitcoin to PayPal exchange possible. The most important bitcoin exchanges do not provide the service of exchanging bitcoins into USD or EUR and then making a fiat withdrawal to your PayPal account. This Free Bitcoin units calculator helps you convert any amount from one unit to another. Conversion between BTC, Bits, mBTC, Satoshis and US dollars. BITS TO USD BITCOIN UNITS CONVERTER BTC,mBTC,Bits,Satoshi. Menu Skip to content. Bitcoin mining; Bitcoin price charts; Bitcoin units & denominations; mBTC to BTC table and converter; Satoshi to BTC table and converter ; Search for: 20 June ... The main purpose of this website is to provide a comprehensive tool, an easy ‘go-to’ place to quickly check bitcoin prices on the most popular exchanges. $11526.57 USD; 1.04% (24h) Greed (56) BTC dominance: 58.46%; Bitcoin converter Preferences: USD - US Dollar EUR - Euro AED - United Arab Emirates Dirham ARS - Argentine Peso AUD - Australian Dollar BDT - Bangladeshi Taka BGN - Bulgarian ...

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How to turn BITCOIN into CASH! THE EASY WAY! - YouTube

If this helped you out and would like to donate please send any amount you can to my Bitcoin Address 17vjtUE2SeEfFrM2My1pQ4iY1GTLQKShzx. Official Tbc to Bitcoin. This video is unavailable. Watch Queue Queue. Watch Queue Queue Okay, so you've got a bunch of bitcoin and you want to withdraw it directly into your checking account. In under 3 minutes I'm going to show you how easy it ... How to Sell Bitcoin & Withdraw on Blockchain.com 2020 - Duration: 10:04. Every Bit Helps 24,226 views. 10:04. Bitcoin Mining HOW TO CASH OUT BITCOIN - TURN BITCOIN INTO CASH! ...

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