A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
Discussion about Bitcoin as the currency, not investment
In this subreddit there should be discussions around Bitcon as currency, not as investment. Hopefully it will be heavily moderated, and there will be discussion by pro and against Bitcoin people. And there could be rule: Your post should have at least 20 words in it.
What do the modern Neo-classical/Keynesian Economists have to say about Bitcoin currency?
Though its been more than 10 years since I attended my last Economics lecture as I chose a different career path, I still remember the following mnemonic phrase my dad taught me to remember the functions of money in Economics:
Money is a matter of functions four. A medium, a measure, a standard, a store.
As a Technology enthusiast today who reads a lot about Bitcoin, I couldn't help wonder that it certainly satisfies all the four conditions that makes a currency work in an Economy:
It is a medium of exchange (you can trade in BTC for buying/selling goods).
It is a measure of value (you may value your laptop for say 1.5 BTC).
A standard currency unit (you can measure BTC against USD, 1BTC=~300USD)
A store of value (you can convert all of your existing assets to BTC and treat them as an asset).
The only thing working against the acceptance of BTC are perhaps some Central Banks and Governments. This creates an interesting scenario in Economics. What do you thing John Maynard Keynes or Adam Smith would have said about Bitcoin as a currency if they were there today? For one, Adam Smith had extreme faith in the "Invisible Hand of market". He would certainly have appreciated the Bitcoin acceptance?
My first question is, if bitcoin is it own currency why can u buy a cnd or usa ect ect version of the coin? shouldnt it just be its own thing? then secondly for something like SR are they using US bitcoins or whatever the local currency they are selling from? and if i buy some CDN bitcoins could i use them to purchase stuff on SR from USA bitcoin sellers? I could be completely wrong about all this (it is pretty confusing to me) but i would love to be filled in about it. I went to buy some and it looked like they had a coin for every country and thats when it made me confused what i should be buying...
It would be greatly appreciated if you partake in this short survey about bitcoin, currency, and the media
https://docs.google.com/forms/d/1ndNgNZWr7qsqjykbJm2gZMI3hKGmZhk4ylv4vKBAK0s/viewform I am attempting to collect data on opinions of those who know about bitcoin and/or use it regularly, their views on currency, and their sources of news about bitcoin and how they feel certain sources of media portray bitcoin. It is for an intermediate public economics class I am taking this semester and will probably be data I use for the next few months. Ten short multiple choice or checkbox questions with a comment/concern box at the end as well. I would greatly appreciate it if you passed this on to people who might find it interesting. When I am done collecting data, if anyone finds it of interest I will post the results. Thanks everyone.
Serious question about bitcoin use in 30 years - If bitcoin stabilizes and becomes a deflationary currency, what will incentivize you to ever lend your bitcoin to a new small business owner?
If the rate of deflation is such that the value of your bitcoin increases a certain percent every year, let's say 15%, why would you ever bother lending bitcoin to new small business owners? I'm curious how the economic system would work in this situation. What would it actually look like? Is this just a case of higher interest rates for lending out bitcoin? For example. If you can get 15% through deflation without lending your money, then you would need to lend out at a high enough interest rate so that your return would exceed the automatic deflationary increase of 15%? Is that the basics of it? So the interest rate of borrowing bitcoin would effectively always be related to the deflation of bitcoin and the inflation from new supply. Whatever that balances out to? (Assuming overall demand has somewhat stabilized through the economy by then so you don't get huge price swings.)
So this is why CipSoft is so into Tibia Coins - their CEO Stephan Vogler posts a lot about cryptocurrency on his blog (stephanvogler.com). Is he trying to make his own crypto currency? Well, I guess he already made it; Tibia Coins. He's also the guy who added Bitcoin as payment option on Tibia.com
Roger Ver: "I'm sorry everyone, but I have to have a meeting with a head of state now about making Bitcoin Cash an official currency of a sovereign nation. I look forward to doing round two with everyone" ... drops mic
In Wallex Bitcoin trading, the public account is your number, while the private address is your pin. Never reveal your private key --this is a brief idea about Bitcoin. Reach out to Wallex Trust to find out more about Wallex Bitcoin currency trading at www.wallextrust.com/
ECB starts thinking about going digital with the Euro, does not consider crypto "because crypto-currencies lack intrinsic value and there is no reliable institution backing them". (x-post from /r/Bitcoin)
09-28 09:25 - 'Bitcoin is a currency that started about 50 years ago . It’s a world wide and international currency / It is legal world wide It has been a means for transaction in many countries. It has a lot of it ATM all over Singapore, and oth...' by /u/fradko removed from /r/news within 28-38min
''' Bitcoin is a currency that started about 50 years ago . It’s a world wide and international currency It is legal world wide It has been a means for transaction in many countries. It has a lot of it ATM all over Singapore, and other Asia countries. Bitcoin is an online currency that can be converted to cash You can invest all your cash using bitcoin and receive it back with a massive interest. With 10% interest You can earn 500$ daily if you put in 50$ daily You can earn 100$ on each trade Which means you can earn daily If you decide to trade daily It is the safest of all investment because the loss is less. And the fastest to earn more because it is a trade where millions of people engage. Everything is been done online all you have to do is invest with me ''' Context Link Go1dfish undelete link unreddit undelete link Author: fradko
@WSJ: Cryptocurrency holders, beware: A surprising change to your 2020 tax form is about to strip away excuses for ignoring the tax rules on bitcoin, ether or other digital currencies https://t.co/uY1VGqdRyU
@WSJ: Cryptocurrency holders, beware: A surprising change to your 2020 tax form is about to strip away excuses for ignoring the tax rules on bitcoin, ether or other digital currencies https://t.co/s64klSi05a
“Bitcoin has provided financial freedom to many and serves its key purpose perfectly — paving the way to a world where everyone is about to have the choice between a digital currency issued by the central banks, or a decentralised option that is issued by the people themselves” - Interesting read.
Proposed Bitcoin Purchase Limit. Meanwhile, the Bank of Russia has proposed limiting the amount of cryptocurrency that unqualified investors can buy each year to 600,000 rubles ($7,734). Bitcoin is a decentralized virtual currency. This currency is exchanged digitally and managed by a peer-to-peer network, rather than a central bank or authority. The supply of Bitcoins is automated and released to mining servers; with a limit of 21 million Bitcoins being reached by 2140. Each Bitcoin is a piece of code that has its own transaction log with timestamps. The coins are stored in ... Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part . Bitcoin refers to both a digital currency, also known as a cryptocurrency, and the protocol and payment network the currency works on. It was invented in 2008 by an anonymous person or group named Satoshi Nakamoto. To understand Bitcoin, it’s important to make the distinction between the bitcoin cryptocurrency and the Bitcoin network. As you become more familiar with the world of Bitcoin ... Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH.
What is Bitcoin? Bitcoin Explained Simply for Dummies ...
Whether or not it's worth investing in, the math behind Bitcoin is an elegant solution to some complex problems. Hosted by: Michael Aranda Special Thanks: Da... know about bitcoin, the crypto currency Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin is the first decentralized digital currency. All Bitcoin transactions are docume... Bitcoin Currency of the Future subscribed to a channel 11 months ago Anime - Topic - Channel Anime is hand-drawn and computer animation originating from or associated with Japan. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries ...