How Does Bitcoin Work? - The Balance

Bitcoin 2

Bitcoin 2 is a scalable Bitcoin 1:1 fork with private transactions and instant verified payments. Open source - Anonymous - Fast - Proof of Stake algorithm. All Bitcoin holders as of block 507850 (~February 5, 2018) got Bitcoin 2 on a 1 for 1 basis earlier.
[link]

bitcoin2network

bitcoin2network is an open-source decentralized blockchain ecosystem that eliminates third parties while offering low cost and instantenous transactions. https://bitcoin2.network/
[link]

Bitcoin - The Internet of Money

/btc was created to foster and support free and open Bitcoin discussion, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin industry leaders! Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever.
[link]

Transactions fees now make up 40% of the block reward! ~18,000/day vs 13,000/day base. This is way higher than Bitcoin or any other PoW blockchain.

Transactions fees now make up 40% of the block reward! ~18,000/day vs 13,000/day base. This is way higher than Bitcoin or any other PoW blockchain. submitted by Crypto_Economist42 to ethereum [link] [comments]

If you're a country that taxes bitcoin transactions you are going to get left the fuck behind while the rest of the world advances so fast it will make you look poverty stricken by comparison.

When bitcoin is used in nano payments where people are completing a transaction for each second they use a service in real time, streaming music for a couple of hours would create 10,000 capital gains tax events that all need to be recorded logged and filed to the IRS, each one with an attached detailed analysis of the bitcoin price when you acquired it, disposed of it, and that spread for tax purposes.
Listening to music alone would accumulate to 3 million individual capital gains tax events a year.
Then there's machine to machine payments. Do software agents and bots that own bitcoin get taxed on each of the 100,000 lightning network transactions they propagate every single day?
What the actual fuck...
This is the literal equivalent of trying to tax and require strict record keeping of every single letter within every single email and message sent over the internet.
How stupid are these people..
Countries that currently have no capital gains taxes like Singapore, Dubai, Monaco, Switzerland, Malaysia, New Zealand, all allow completely unfettered frictionless use of digital currencies like bitcoin, and they will benefit tremendously with digital finance exploding in their countries making them the new financial hubs of the new digital world.
Meanwhile countries that continue to tax every single crypto transaction will stagnate and get left behind during this digital finance wave of the future.
London and New York being the center of the old world of finance have draconian licences and immense tax record keeping burdens that strangle and suffocate the use of digital finance in their jurisdictions. They might be the center of the old financial world but they are going to be the absolute backwater of the new digital financial world the way they are going.
I'm moving to a country that doesn't tax crypto. Not so I can save money, but so I can live in a city that actually has a future in the new digital economy and isn't going to stagnate into self-inflicted poverty.
submitted by slvbtc to Bitcoin [link] [comments]

"Simulating legacy banking on top of bitcoin is trivial, all you have to do is take all of its capabilities and slow them down" (transactions clear in 3 to 5 business days at a cost of 5 dollars)

submitted by steeevemadden to btc [link] [comments]

After Years of Resistance, BitPay Adopts SegWit for Cheaper Bitcoin Transactions

After Years of Resistance, BitPay Adopts SegWit for Cheaper Bitcoin Transactions submitted by IllList3 to btc [link] [comments]

“Today we release Privacy-o-meter — a tool for Bitcoin users and developers to assess the privacy level of their transactions. Many of you have heard about blockchain surveillance companies. Privacy-o-meter is the first step to defend yourself against heuristics they use.”

“Today we release Privacy-o-meter — a tool for Bitcoin users and developers to assess the privacy level of their transactions. Many of you have heard about blockchain surveillance companies. Privacy-o-meter is the first step to defend yourself against heuristics they use.” submitted by Egon_1 to btc [link] [comments]

“Ethereum has lots of amazing DeFi apps, it's a great ecosystem with lots of values. What they don't have is micro transactions, cheap fees and accessible smart contract deployment for everyone. That's why I think @AnyHedge with Bitcoin Cash will be huge.”

“Ethereum has lots of amazing DeFi apps, it's a great ecosystem with lots of values. What they don't have is micro transactions, cheap fees and accessible smart contract deployment for everyone. That's why I think @AnyHedge with Bitcoin Cash will be huge.” submitted by Egon_1 to btc [link] [comments]

"Doing some ETH transactions after a year of dealing only with BCH. It's painful how slow it is. You don't understand how superior Bitcoin Cash is until you deal with other cryptos."

submitted by Egon_1 to btc [link] [comments]

“The ridiculous notion of 'must have 100% decentralization. Must be able to run 1MB blocks on Raspberry Pi nodes, on laptops built in 1990, so that we can have 100% decentralization — Oh, but we can only do 4 transactions per second' and yes, I’m talking about Bitcoin.”

“The ridiculous notion of 'must have 100% decentralization. Must be able to run 1MB blocks on Raspberry Pi nodes, on laptops built in 1990, so that we can have 100% decentralization — Oh, but we can only do 4 transactions per second' and yes, I’m talking about Bitcoin.” submitted by ColinTalksCrypto to btc [link] [comments]

Not So Private: 99% of Zcash and Dash Transactions Traceable, Says Chainalysis | Altcoins Bitcoin News

Not So Private: 99% of Zcash and Dash Transactions Traceable, Says Chainalysis | Altcoins Bitcoin News submitted by az_millymally to CryptoCurrency [link] [comments]

Having a Pre-Signed Sweep Transaction has greatly increased my peace of mind hodling bitcoin. Explanation 👇🏽

Having a Pre-Signed Sweep Transaction has greatly increased my peace of mind hodling bitcoin. Explanation 👇🏽 submitted by victhroway1234532 to Bitcoin [link] [comments]

[ Bitcoin ] New technology can prevent the loss of cryptocurrency caused by human error when sending what are normally irreversible transactions between wallets

Topic originally posted in Bitcoin by iPodUntouch
iPodUntouch your post has been copied because one or more comments have been removed by a moderator. This copy will preserve unmoderated topic. If you would like to opt-out, please PM me.
submitted by anticensor_bot to u/anticensor_bot [link] [comments]

Privacy-o-meter — a tool for Bitcoin users and developers to assess the privacy level of their transactions. Many of you have heard about blockchain surveillance companies. Privacy-o-meter is the first step to defend yourself against heuristics they use.

Privacy-o-meter — a tool for Bitcoin users and developers to assess the privacy level of their transactions. Many of you have heard about blockchain surveillance companies. Privacy-o-meter is the first step to defend yourself against heuristics they use. submitted by blockchair to deepweb [link] [comments]

70% of Bitcoin's high value transactions are gambling services, 15% are mining pools or exchange services, and 7% of antonymous systems contain a single node

70% of Bitcoin's high value transactions are gambling services, 15% are mining pools or exchange services, and 7% of antonymous systems contain a single node submitted by 001235 to science [link] [comments]

If China mines 60% of all bitcoins, where mining is the verification process of transactions, then do they hold a major leverage over the market if they decide to power off and forcibly control/stagnate those mining facilities?

Forgive the noob question, but seeing as the mining difficulty appreciates, it would be economically unviable to believe that some other country could just pick up the slack if China brought the hammer down on the whole thing. Maybe my idea of bitcoin is all wrong as I’ve chosen to dig deeper into the financial rather than science aspects.
submitted by a1705471 to Bitcoin [link] [comments]

6 Privacy-Enhancing Tools That Place Bitcoin Cash Transactions Ahead of the Pack

6 Privacy-Enhancing Tools That Place Bitcoin Cash Transactions Ahead of the Pack submitted by swiftestcat to btc [link] [comments]

Bitcoin Cash is the cryptocurrency of Australia - Almost every cryptocurrency transaction at stores across the nation is a Bitcoin Cash transaction

Bitcoin Cash is the cryptocurrency of Australia - Almost every cryptocurrency transaction at stores across the nation is a Bitcoin Cash transaction submitted by where-is-satoshi to btc [link] [comments]

Bitfinex completed the largest transaction in the history of Bitcoin for $1.1 billion for $0.70 commission.

On Friday, a transaction worth over $1.1 bln was recorded at the Bitcoin Block Chain for 161,500 BTCs. The processing fee was only $0.70. This transaction turned out to be the largest in dollar terms for the whole time of the cryptographic currency existence.
Subsequently, the technical director of Bitfinex Paolo Ardoino said that the transaction belongs to his company. "We added 15k to the hot wallet and sent the rest back," he wrote.
The same information is confirmed by the data in the block office. 15,000 BTC went into Bitfinex's hot wallet, while 146,500 returned to the original address.
A week earlier, Xapo's crypto-castodial service had moved 100,000 BTCs, or $633 million at the rate at that time, paying $0.26 for processing.
In both cases, the commission was only a small fraction of what it would have been if it had moved such amounts through traditional services. Thus, the TransferWise money transfer service charges for the maximum allowed transaction of $1 million over $3,600 commission and processes it within three days.
"Yes, the commission was less than a dollar, but the real cost is that you have to buy new pants after sending a $1.1 billion irrevocable transaction," writes bitcoin enthusiast Kyle Torpy.
The Bitfinex transfer surpassed the previous record bitcoin transaction of $1 billion recorded in September 2019. The largest number of Bitcoins - 500,000 - was transferred at one time in November 2011, but they were worth only $1.32 million at the time.
Jameson Lopp, Casa's technical director of custodial services, said meanwhile, that this week they had sent the bitcoins through a blockage to 550 users for a commission of $1.23 or $0.002 per recipient. "I am amazed at what can be achieved without being time-consuming and with a healthy respect for space constraints in the blocks," he writes.
submitted by luxxx75 to Bitcoin [link] [comments]

Last week, the volume of transactions in stablecoins exceeded the one in Bitcoin for the first time in history 😲 What others important crypto market movements you might have missed? Check our Weekly Analysis!

Last week, the volume of transactions in stablecoins exceeded the one in Bitcoin for the first time in history 😲 What others important crypto market movements you might have missed? Check our Weekly Analysis! submitted by Crypterium_app to crypterium_com [link] [comments]

Two questions, can I delete a standard bitcoin wallet, and does the address of a BIP84 wallet, SegWit, change after every transaction?

My BlueWallet has an open channel and standard bitcoin wallets.
One of the bitcoin wallets is an Imported HD SegWit (BIP49) what I used, the last time, more than a year ago.
My first question is, can I delete this wallet? If yes, how can I do that?
Question 1 bis, or maybe it's better to close the channel and do a fresh installation of BLueWallet and create new SegWit wallets?
For my second question, I created a new BIP84 SegWit Wallet.
If I use this wallet to receive Bitcoins, will the address change after every transaction? Or will I always have the same bitcoin address?
submitted by Akahura to bluewallet [link] [comments]

Australia Bitcoin Cash report for May, 2020: $23,000 spent total, 182 physical store transactions, 97% of retail cryptocurrency transactions = BCH.

Australia Bitcoin Cash report for May, 2020: $23,000 spent total, 182 physical store transactions, 97% of retail cryptocurrency transactions = BCH. submitted by 333929 to Bitcoincash [link] [comments]

Privacy-o-meter — a tool for Bitcoin users and developers to assess the privacy level of their transactions. Many of you have heard about blockchain surveillance companies. Privacy-o-meter is the first step to defend yourself against heuristics they use.

Privacy-o-meter — a tool for Bitcoin users and developers to assess the privacy level of their transactions. Many of you have heard about blockchain surveillance companies. Privacy-o-meter is the first step to defend yourself against heuristics they use. submitted by blockchair to darknet [link] [comments]

ABC 0.21 changes the BCH protocol to issue 5% of every new coin and 5% of all transaction fees to Amaury Sechet and his friends. Do not run this software if you care about the future of bitcoin: a peer-to-peer electronic cash system.

ABC 0.21 changes the BCH protocol to issue 5% of every new coin and 5% of all transaction fees to Amaury Sechet and his friends. Do not run this software if you care about the future of bitcoin: a peer-to-peer electronic cash system. submitted by WildFireca to btc [link] [comments]

BITCOIN MINING ,METHOD OF MINING ,TECHNIQUES , EARN FREE ... Bitcoin Transaction Explained in 5 Minutes Bitcoin Q&A: The lifecycle of a transaction Explained Bitcoin, Cryptocurrency and Blockchain Technology & Twitter hack  Marathi  Dheera Bitcoin - The security of transaction block chains

It added it had blocked transactions "within a couple of minutes of the initial wave of scam posts". It is believed that scammers stole about $120,000 in bitcoin in total. The Pentagon researches possible tools to trace Bitcoin transactions in an effort to detect criminal activities. Experts at the Pentagon are considering hiring a crypto analytical service to efficiently detect cryptocurrency transactions for fraudulent and criminal purposes. This follows the recent hacking of Twitter, which was a scam aimed at obtaining people’s bitcoin. Bitcoin transactions are broadcast between peers in a serialized byte format, called raw format. It is this form of a transaction which is SHA256(SHA256()) hashed to create the TXID and, ultimately, the merkle root of a block containing the transaction—making the transaction format part of the consensus rules. Transaction Tutorial¶. Creating transactions is something most Bitcoin applications do. This section describes how to use Bitcoin Core’s RPC interface to create transactions with various attributes.. Your applications may use something besides Bitcoin Core to create transactions, but in any system, you will need to provide the same kinds of data to create transactions with the same Bank of America is considering Bitcoin, Ethereum, and other altcoins to be cash equivalent, and will treat crypto-related transactions as cash advances.. An image posted on social network Reddit showed a possible change in credit card terms and conditions of Bank of America regarding cryptocurrencies such as Bitcoin (BTC).

[index] [2052] [17959] [22698] [3135] [30070] [13812] [20177] [26711] [5487] [11023]

BITCOIN MINING ,METHOD OF MINING ,TECHNIQUES , EARN FREE ...

Means first bitcoin which was created in 2009 to till date all transactions are on record. Eg- property /land paper is between two parties if modified then go to court, but in case of blockchain, What is the lifecycle of a transaction, from wallet to inclusion in the Bitcoin blockchain? This question is from the second session of MOOC 11, which took place on February 7th 2019. In this quick video, we do our best to explain the mechanics of a single Bitcoin transaction in 5 minutes or less. We explain things like addresses, wallet apps, private keys, and the blockchain ... A detailed explanation of what makes bitcoin transaction block chains secure. More free lessons at: http://www.khanacademy.org/video?v=8zgvzmKZ5vo Video by Z... Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a ...

Flag Counter