Speculation – Bitcoin Forum to the financial technology revolution. Some people define bitcoin as money for the Internet. Technology experts often refer to it as the Internet Of Money. And a growing number of financial analysts and global investors are calling it Gold 2.
0 – a new global asset class. Bitcoin is many things to many people. Before anything, Bitcoin is an Internet protocol which represents a fundamental breakthrough in computer science offering humanity a revolutionary new technology, perhaps the most important invention since the Internet – based on open-source software. Be sure to note that the Bitcoin Network is NOT a company, is NOT a shiny gold coin, and is NOT a Ponzi scheme.
The official Bitcoin White Paper was released to the general public on October 31, 2008 which in-great-technical-detail described groundbreaking innovation within the financial technology sector: A Peer-to-Peer Electronic Cash System. The invention of the Bitcoin network now officially enables peer-to-peer digital and global value transfer without the need of a third-party intermediary. As a key-feature rather than a flaw, the Bitcoin network is decentralized with no central point of failure. All transactions are broadcast to the network, time stamped, validated, and locked into 1MB – 2 MB data blocks, and ultimately chained together as a historical and immutable record. SMTP otherwise known as e-mail or HTTP which is the foundation of data communication for the World Wide Web.
The Bitcoin network software has a pre-set mathematical hard cap of 21 million bitcoin that will ever be issued over a period of 131 years, 16,920,017 of which have already been mined and are in global circulation. BTC is the common industry abbreviation when referencing Bitcoin as a currency. The ISO 4217 currency code is currently XBT which is still considered unofficial. There are economic and non-economic nodes. These individuals download and run the bitcoin open-source software and freely opt-in to join the global network.
As a compensation mechanism for validating transactions across the Bitcoin network, bitcoin miners are rewarded newly-minted bitcoins every ten minutes in exchange for their participation. Industry analysts suggest the Bitcoin network now exceeds Google in computing power by 100X. Similar to email, you would need to shut down the entire global Internet for the Bitcoin network to be temporarily muted. Not only are bitcoins impossible to counterfeit, transactions can not be blocked or frozen and there are no prerequisites or arbitrary limits to participate.
As with any new revolutionary technology or scientific breakthrough, venture capitalists and professional investors are never far behind the wave of exciting headline news. Through a concentrated effort to form legal business entities with technology and financial services experts, as well as the consistent organization of professional industry associations, meet-ups, conferences, and startup incubators, the Bitcoin industry has significantly matured in a few short years. The common denominator among both investors and executives within the industry is to establish a balanced environment where innovation can flourish while simultaneously ensuring that bitcoin startups are abiding by any local, state and Federal regulations. The world has never seen anything like Bitcoin. And subsequently, Bitcoin is many things to many people. Not only is the Bitcoin network thriving, it is legal. New use cases, upgrades in both software and hardware, human and venture capital migration, intuitive and secure apps, as well as a network effect has sparked curiosity and driven demand throughout the world, and subsequently, bitcoin has outperformed every asset on Earth.
Similar to stocks or commodities, bitcoin trades on bitcoin exchanges with a market value exchange rate which fluctuates in real-time based on supply, demand, psychology, as well as news. The Bitcoin network is freely accessible to any human on Earth and is not affiliated with geographical borders, political interests or central banks. The revolutionary open-source software and global network community do not judge your skin color, ethnicity, religious beliefs, and do not have access to your financial status, confidential data or credit score. Wall Street closes at 4 PM. Remember, Bitcoin is many things to many people.
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It is important to keep in mind that there is no correct or incorrect use case with the Bitcoin network. The open-source technology platform was designed, developed, and delpoyed as an “open platform” and community for the world for your personal benefit and specific use case – whatever that may be. To better understand bitcoin as a new global asset class we invite you to continue learning below. Our exclusive aim is to promote the Bitcoin network via consumer education and industry marketing. Our social media isn’t quite ready yet, but we’d love to hear from you via email.
Help us grow We’ve been riding this exciting wave long before GOX and we’re still here, still learning and forever bullish. And now, we want to give back. We believe the industry needs a transparent platform for both consumers and brands. Given the open nature of the Bitcoin network, we decided to open up our premium global assets to the community. Robert Shiller, the Nobel Prize-winning Yale economist who predicted the housing bubble, says that he is mystified by the rise of Bitcoin—but ultimately regards the cryptocurrency as a speculative bubble that is likely to burst. I think that’s a good likely outcome, but it could linger on for a good long time, it could be here in 100 years.
Last week, billionaire investing genius Warren Buffett also expressed confusion over the rise of Bitcoin and other cryptocurrencies, and predicted that the bubble would inevitably pop. Ethereum and Ripple still have plenty of room to run. Money may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. Quotes delayed at least 15 minutes.
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News: Latest stable version of Bitcoin Core: 0. General discussion about the Bitcoin ecosystem that doesn’t fit better elsewhere. News, the Bitcoin community, innovations, the general environment, etc. Discussion of specific Bitcoin-related services usually belongs in other sections. Technical discussion about Satoshi’s Bitcoin client and the Bitcoin network in general. Questions regarding issues with Bitcoin Core, nodes, the Bitcoin network, transactions, and addresses.
Organization of Bitcoin and related projects, bounty campaigns, advertising etc. Discussion about doing business with Bitcoin. Best trading practices, delivery methods etc. Other topics that might be of interest to bitcoiners. Discussion of cryptocurrencies other than Bitcoin. Bitcoin may fit in other categories. Communities that don’t have their own board.
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It is not an exaggeration to say that without each other, ransomware and Bitcoin might not exist at all. I think it’s largely understood that the rise of a virtual, anonymized and easy-to-use payment system was a key factor in making ransomware the phenomenon it is today. I believe the fundamental importance of ransomware to the development of Bitcoin is slightly less obvious to some. A back-of-the-envelope calculation based on ransomware payment estimates and data from Bitcoin. 2016 and through the beginning of 2017y, until the recent run-up.
Is Ransomware Still Pressuring Bitcoin Prices? Bitcoin has crossed some credibility barrier and entered the mainstream. But we shouldn’t count out the ransomware float’s possible continuing contribution. A Bitcoin futures market has been announced.
Admittedly, the long-term viability of Bitcoin is a complex question to ponder, being equal parts mass psychology, macroeconomics and technical evaluation. Bitcoin money supply, and helping feed the upward spiral. First noted in research a year ago, we see new reports that corporations have accelerated stockpiling Bitcoin, to have it on hand for eventual quick payment in case of a ransomware breach. But will Bitcoin appreciation push ransomware away? It’s probably neither here nor there, but we are also confronted with the idea that people with substantial Bitcoin holdings are now rolling in it. I doubt that this new abundance of financial resources will change behavior, but one must consider that the wherewithal of many bad actors has just been substantially enhanced. It seems unlikely they’ll retire to Tahiti any time soon.
Stefnisson is vice president of threat detection at Cyren, an Internet Security as a Service provider that protects users against cyberattacks and data breaches through cloud-based web security, email security, DNS security and sandboxing solutions. Necurs Botnet to Erupt This Month? Unpacking the Impact of NIST 1. 2010, A Great Year To Be a Scammer.
I wonder when Amazon will finally accept cryptocurrency, imagine the possibilities. Biggest scam on earth right now. Bitcoin will crash, and leave thousands of people with no money. So many are buying thousands in these coins. When the market tanks, or the government starts to track and regulate, this whole thing will be nothing but smoke and mirrors. Amazon most likely isnt going to get involved in a scam. Bitcoins are tied to black market, dark web and other illegal activities including money laundering schemes.
If I am Amazon I simply say, use a CC or gift card, thanks. Amazon wants you to use Gift Cards especially. I expect that Amazon will not until there are federally regulated options and there is enough consumer demand. I really see nothing in this for Amazon. I expect that an entirely new generation of digital currencies will be developed before cryptocurrencies gets accepted.
The volitility and prevasive problems related to theft, use by criminal organization for money laundering and extortion is going to keep any sensible legitimate business very clear from any such interactions using this currency. You know when Amazon will use it? When Amazon creates their own digital currency. I wouldnt want to use it as a company.
Think Amazon is going to want to be playing that game daily? What you just described is literally a everyday thing for all manufacturers and distributors lol – NYSE where nearly everything used to make anything prices are dictated mon-fri 9:30am-4p. Scam, scheme or otherwise, it’s too unsafe to accept payment in volatile assets. Crypto and Amazon likely won’t cross paths. At least not with the coins and tokens we are seeing these days. Amazon reserved the domain name Amazonbitcoin. Don’t believe me look up that domain on whois.
They have been planing something for a long time. They are just waiting for all the legal stuff to fall in place before they can go live. 10 by the time the item ships. In that case Amazon loses money. Arizona has bills on the floor that would revolutionize the way government considers cryptocurrencies, such as bitcoin.
One bill would recognize bitcoin and other cryptocurrencies as currency, not a commodity. The other would allow taxpayers in Arizona the option to pay their taxes with bitcoin. Oscar Darmawan – CEO of Bitcoin. I really believe that Blockchain technology will eventually change the way system works. Bitcoin might revolutionize more than money or economics.
It could transform the role and nature of government. Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. But I am not familiar with the specific product to assert whether it is the best potential setup. And we need a long time to establish confidence. If I had money in Bitcoin, I would have reported it. Bitcoin will become a huge, worldwide success. Virgin Galactic is a bold entrepreneurial technology.
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It’s driving a revolution and Bitcoin is doing just the same when it comes to inventing a new currency. The next step in human evolution would be a race that could put their trust in each other, not in their rulers or politicians. This may be the purest form of democracy the world has ever known, and I — for one — am thrilled to be here to watch it unfold. If we remember, 15 years ago if you were doing anything on the internet you were going to make millions. I think it could be the same with Bitcoin. I personally own Bitcoin in my hedge fun, I own Bitcoin in my fund, I own Bitcoin in my private account. It’s a huge, huge, huge deal.
Because what you’re talking about right now is, for the next three to five years, an unbelievably better stored value. With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless. Bitcoin is money over internet protocol. There are 3 eras of currency: commodity based, politically based, and now, math based. Bitcoin has the opportunity to be a big disruptor in financial services. It’s the cheapest way to move money around.
Did I mention how good it feels to be a Bitcoin millionaire? I do think Bitcoin is the first that has the potential to do something like change the world. Bitcoin is a technological tour de force. These past days, I have done a lot of thinking about Bitcoin that ended up with me investing all of the money I had saved and all that I can borrow into the currency. It can only go UP UP UP! BUY NOW – Don’t wait till next week! NEVER SELL – No matter how high it spikes!
Gold is a great way to preserve wealth, but it is hard to move around. You do need some kind of alternative and Bitcoin fits the bill. I’m not surprised to see that happening. Bitcoin will do to banks what email did to the postal industry.
Regulation of money supply needs to be depoliticized. All the things that gold does, Bitcoin kind of does better. Digital currency is going to be a very powerful thing. You can basically put a bank in your pocket That’s pretty amazing. Had you asked me five years ago, I would just say it was impossible.