Retrieved kraken October Where can Reddit get one? If I understand correctly, if right now lets suppose Stocks am a fiscal resident in Slovakia bitcoin crypto gains are taxable bitcoin I move to Slovenia and make the country my residence, then I pay my taxes there and stocks are not taxed? Block kraken  . We must reddit ready for the future.
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. One company gives you a debit card, which you can use at any of their POS termials. However, how does this prevent scammers from giving out the wrong addresses that they own on purpose, since it will be quite hard to trace the address back to them? Archived from the original on 7 January It also means, that anyone can review the code of the protocol, change it themselves, and create their own work using this protocol as a basis - creating a new, entirely seperate, system. You don't have to take my word for it, but buy a kill-a-watt meter and do the math yourself. The funds already donated will be spent on some sort of advertising, as intended.
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They were called Electronic Money, the first of which was DigiCash , but all of these failed at one important thing, that Bitcoin solved. The proof-of-work that solves the "double-spend" problem to allow decentralization. It is this key reason, that Bitcoin is the first of its kind. Other cryptocurrencies have appeared after the invention of Bitcoin. The first most notable as of is Litecoin which uses a 2 minute block time instead of 10, and uses Scrypt instead of SHA for hashing.
Many others have appeared hundreds - but the free market determines which have a value or not over time. Every coin other than bitcoin, is called an Alt-Coin. The proof of work is used in Mathmatics read here. In Bitcoin, the proof of work is what is used to validate the next block and all blocks before it. A block simply contains all the transactions that have occured on the network which the miner adds that were unconfirmed, which then become confirmed. The Bitcoin network, uses a block time of 10 minutes.
This means, that based on the amount of miners on the network see hashrate , the difficulty to solve each block increases, so that blocks are found - on average - every 10 minutes. This calculation is re-checked every blocks. Blocks also contain a record to both the previous and next blocks, forming a chain referred to as the blockchain. The blockchain is the public ledger of all transactions in the Bitcoin network, going all the way back to the genesis block.
This should NOT be confused with the website www. The longest chain, is always the chain that is determined to be the "valid" chain. There can be branches of chains that exist for a time, but ultimately, whatever chain becomes longest, is assumed to be the correct one. Bitcoin takes the properties that make FIAT and precious metals useful a definitive chain of ownership, ease of use, scarcity, etc. Yet, there is no central authority, no government, no pretty shining metal - it gets its value and usefulness by the system itself being useful and unbreakable.
Why do we value gold? How do I get Bitcoin? There are 4 ways to get Bitcoin. Buy it by converting an existing FIAT currency for it. Be a Merchant that accepts it for goods or services. Receive it as a gift Regardless of the method of obtaining it, Bitcoin is sent to a public address that you own the private key for.
How do I buy Bitcoin? You buy bitcoin via an exchange, or from another person. If you live in the US, the best option is Gemini. However there are many others you can purchase from, like Snapcard , etc.
The other alternative is from an exchange like Bitstamp. Many exchanges will tie to your bank account and transfer funds using ACH transfers, which you then use to purchase coins at the current exchange rate. Another method, is to buy it from another person. You can do this with your friends, or setup a meet with someone on a website such as LocalBitcoins.
Up until - the most used Exchange was Mt. Gox which was based in Japan - it however, was proved to not be solvent and closed in January Exchanges's I've used are: Poloniex - used for many newer Alt-Coins Gemini - run by the Winkelvoss twins. Failed Exchanges have been: Someone can gift you bitcoin using what's called a Paper Wallet.
Bitcoin Paper Wallet is an example of this. Mining is the process by which the unconfirmed transactions become confirmed. What you are looking for with this software, is the Nonce that is used to provide the proof-of-work for the block that confirms the block as valid. Mining uses difficulty, to scale the network so that on average, there is a block found every 10 minutes.
See Mining Difficulty You can see who has mined each block, by viewing the Hashrate Distribution chart. What is Mining, specifically? The first miner to provide the proof gets the btc reward called the coinbase. If you are a solo miner, then you get that reward all to yourself. Early mining was done completely solo, currently - most miners join a mining pool. The reward is halved approximately every 4 years specifically, every , blocks originally, 50 btc, then 25btc, now The reward also includes the miners fee transaction fee and the miner gets that as well.
Take a look at pooled mining and how it works for a quick overview. See for example, this block: This was then put into the Pool's findings during this timeframe, and paid out to the contributors working during those shifts based on what amount they contributed.
In this block, the Nonce see: You receive bitcoin, using your public address. What am i missing here? The private key can create multiple public keys. A public key is used to create the Bitcoin address that is used in the Bitcoin transaction. As DoctorBlade1 pointed out, it only goes one way. Since you generate a new public key and Bitcoin address for each transaction and you can't figure out the private key from the public key, you're safe.
You can generate a public key from a private key, not the reverse and you don't need the internet to do it , that's why they are safe. The address is cryptographically derived from the private key. It is a one way function. You can't derive the private key from the address. You need the private key to sign, or validate a transaction that involves that particular address. Bitcoin it's best to buy now even if you think you have missed your opportunity.
You donT have to buy the whole coin at 13k to be profitable. The opportunity to invest and jump in the next will always be available. Most of us missed our opportunity back in Feel free to ask questions on how to get started or read the pinned posts.
Feel like am dealing with amounts that are too small but am still a student and need to know if its a good investment. The part about the different exchanges and stuff is great. I mean I knew about them but very well presented! Can I use a VPN to access these without any problem, or are there other websites like these?
What are some other ways to make bitcoin other than mining and sites like bitwage. I have a big bandwidth at home. Can i host something and earn bitcoin that way. You could be an earner on purse.
What's the cheapest way to send the money to coinbase to link a bank account from the UK? As a person who is interested in investing I would like to ask you if the BTC is connected to the wallet? If I install desktop wallet eg. Does it also work cross-platform eg. Yes you can send coins between wallets. In order to use electrum on two different devices you would need to have your private key on each device I believe.
BTC is only associated with a private key BIP32 seed which can be used to migrate coins between wallets. I did some more reading and I guess I figured, that I will have to send money between specific wallets i. Hey, I had a transaction sent from blockchain. I know how to double spend but am unsure how to do this with an online wallet.
Anyone have any idea how I get this transaction confirmed? A pays C through B 3. A pays D through B. No the channels can remain open. Once GUI is developed and there are several hundred nodes end user will never need to open a channel, it should be just like using a lite wallet. What about if 1. A has no BTC 2. My understanding is that once there are enough channels the average user would never need to open or close a channel and could make payments through lightning indefinitely.
Taking coins out to the main chain would be a rarity and most likely only for large value transfers. I admit though I only have a cursory knowledge of the system at this point and am looking forward to learning more as it rolls out and improves.
Try this for more info. Newcomer here, how do people expect other to use bitcoin when I just purchased bitcoin the other day to make an online purchase. How do we intend to fix such fluctuating prices which drive away newcomers such as myself who just bought bitcoin that are now worth less than when I purchased them. Again this wasn't a purchase to be used as an investment, but to make an online purchase as there is a discount for using bitcoin with this merchant, but the discount doesn't matter if my bitcoin are no longer worth enough to make the purchase which I want to make.
Lightning network is in the process of rolling out which will move low value transactions to layer 2 and make them cheap and instant. But my post doesn't show up on the feed? I deleted the post because I thought I made a mistake and tried again.
I am using Reddit App, any advice from experienced redditers out there? If I use a hardware or software wallet, can I fuck it up and end up losing access to my coins? What if the hardware or laptop I'm using to store them breaks? A hardware wallet is the best option Trezor or Ledger after that software wallets like electrum.
Bitcoin subscribe unsubscribe , readers 13, users here now Bitcoin is the currency of the Internet: You can also explore the Bitcoin Wiki: Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy.
News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted.
No referral links in submissions. No compilations of free Bitcoin sites. Trades should usually not be advertised here. For example, submissions like "Buying BTC" or "Selling my computer for bitcoins" do not belong here. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system.
Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. Related communities Sorted roughly by decreasing popularity. Welcome to Reddit, the front page of the internet. Become a Redditor and subscribe to one of thousands of communities. Also, the following videos are a good starting point for understanding how bitcoin works and a little about its long term potential: The real value of bitcoin and crypto currency technology Video 3: Introduction to Bitcoin - Andreas Antonopoulos Video 4: Bitcoin - Balaji Srinivasan Also have to give mention to Lopp.
Key properties of bitcoin Limited Supply - There will only ever be 21,, bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here. Open source - Bitcoin code is fully auditable. You can read the source code yourself here. Accountable - The public ledger is transparent, all transactions are seen by everyone. Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint. Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them. Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction.
Most wallets calculate on chain fees automatically but you can view current fees here. On chain fees have risen recently due to network demand however instant micropayments are on the way via the Lightning Network , a second layer scaling solution currently rolling out on the Bitcoin mainnet. You can even run a node on a Raspberry Pi: Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.
Pseudonymous - No need to expose personal information when purchasing with cash or transacting. Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being met Nearly instant - From a few seconds to a few minutes depending on need for confirmations. After a few confirmations transactions are irreversible. Peer-to-peer - No intermediaries with a cut, no need for trusted third parties.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply remembering a string of words for wallet recovery. Scalable - Each bitcoin is divisible down to 8 decimals allowing it to grow in value while still accommodating micro-transactions. Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiat Where can I buy bitcoins?
Securing your bitcoins With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you. If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here.
If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor or Ledger is recommended. A more advanced option is to secure them yourself using paper wallets generated offline. Some popular mobile and desktop wallet options are listed below and most are cross platform. If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
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