Top 11 Funniest Bitcoin Videos | 99 Bitcoins

My wife (32F) is threatening to leave me if I (30M) don't get what she considers help for my depression. This isn't the first time she has threatened to leave me.

This is going to be a long post.
I met my wife online 8 years ago. We lived across the country from each other and kept a long distance relationship going well, and go the opportunity to see each other every few months for weeks at a time. We would fall asleep on Skype together every night, text each other throughout the day, and phone each other when we had time to talk or wanted to play games together. In 2013 after a year and a half of dating I asked her to marry me and she said yes.
I was overjoyed! I had spent my highschool years as the guy that everyone avoided because my mother had been sending me to therapy for over 10 years for issues that may have been real at the time of my childhood, but regressed as I grew into adulthood. I would routinely take a cocktail of 8 different medications in the morning and before bed, and my friends are the time would better describe me as a zombie over a functional human being. I had issues holding conversation, would regularly space out, could not perform sexually, and could not get good grades in college. After I got married to my wife, we got an apartment together, and I stopped my medication cold turkey of my own volition.
I was a new man, I no longer any of my previous issues and I felt free and full of life. I never resented my mother because she only had my best interests in mind, and was not doing sending me to therapy and keeping me medicated for her own peace of mind. My parents gave me a great life growing up and gave me everything I ever wanted, being from an upper class household, they bought me a brand new car for college, anything I wanted growing up, and would support me financially on almost anything I wanted within reason. My college was fully paid for and I went to one of the best private schools in the area while growing up. I had been to every continent in the world, visited tons of grand architecture and theme parks, and seen so many wonderful things, and I was looking forward to sharing that life with my new wife.
My wife did not have the upbringing I did. She was the second oldest of 6 children. Growing up, she did not get any luxury. From having to work a summer job to buy her own school supplies and clothes, to dealing with an elder brother that sexually assaulted her every month while her parents slept, to a junkie father that would work odd jobs only to get money to get high, and a mother that worked 3 jobs to keep a roof over her children's head, her child hood was not easy. Her parents got divorced when she was 17, after being together for 23 years. Her father never gave her any love despite her efforts, she would regularly make love notes and lunches for him growing up, only to find them crumpled up and thrown in the trash and never responded to. Her elder brother would force her to give him oral at least a few times a month from the age of 15-16 while everyone in the house was asleep. Her father left and had no contact with her since she was 19, only showing back up in her life for our wedding, just to disappear again. He hasn't spoken to her in 4 years now.
Before we got married, I flew out to meet her, and we packed up everything she owned and put it in her car. We drove 2900 miles across the US to move her into our house with my parents, and after we got married, my parents paid for us to get an apartment near their house. We were so happy! After we moved in together after getting married, we both were young, only 23 and 25. We worked fast food and don't have a lot of money, surviving on only a hundred dollars of food a month. But, because we were together, everything was ok.
Or so I thought. My wife has constantly struggled with insecurity since we got married. We made sure when we got married that we would keep our finances separate. She was a bad money manager and didn't want to "ruin me" like she had ruined herself. She would break down sometimes for no reason begging me not to leave her, and I have never done anything to make it seem like I was. My parents decided that since I had gotten married and was doing OK, they were going to give me part of my inheritance up front. I took this money to pay off all our debt, I paid off half her student loans, and I would take care of any issues that came up for her that she couldn't handle without complaint. She crashed her car, I helped her buy a new one, she couldn't pay a bill, no problem, I've got her covered. Anything she felt she couldn't handle, I was always right there to support her.
Near the end of our first year together, my wife for some reason had reached the end of her rope. If we didn't move out of the big city where she didn't have any friends or know how to get anywhere, she was going to leave me. It wasn't me, but she said was devastatingly homesick, and said she couldn't live here any longer. She had made a real home away from her parents at her college town, and her best friend of 6 years lived there, who had supported her through thick and thin. Despite my aversion to this at first, I could tell that moving back home where her best friend lived and what was familiar to her was important. After 2 weeks of talking about it, I agreed to move with her back to what she considered home. My parents were planning to move around this time as well, as they no longer had any children and we're looking to downsize their home. So, for her, I left my hometown of 25 years, and all my friends that I grew up with.
My parents gave me money for us to buy our first house, and another 30 thousand on top. My wife and I found a nice 3 bedroom, 2 bathroom single family home, and bought it outright with cash. Because there was money left over, we used that for moving costs, and I began searching for a job I knew I would enjoy, while living off the interest on my savings. We were working on having a child and I knew that a kid was going to be expensive, so I was trying to make sure we had the money to support our child, and I could still make my wife happy.
In 2015, 2 years after we moved into our house, my wife said she was going to leave me again. Despite her only ever needing to pay her bills (she had gotten herself into more credit card debt), despite her crashing another car and me paying a $5,000 down payment to buy her another new one (she had to get a loan out), despite me spending time with her every night and never going anywhere without her, taking her on trips and little date nights to make her happy, she was threatening to leave again. A month after her telling me this, my father passed away from early onset Alzheimer's. I was having a rough few months.
We were having trouble conceiving and she was having severe body confidence issues. She was convinced that before I left her for someone else, she was going to have to leave me. Since we had gotten married, she had gained over 100 pounds, and I had never made an issue about it, other than showing concern for her health (her family has a history of diabetes and heart disease). She said that despite me continuing to support her in all her hobbies (she likes dancing and volunteering at the pet shelter), me not having a job was stressing her out because she wasn't sure that I could keep helping her. Despite my reassurances, she believed that I was going to leave her for someone better, and that she needed to leave before I did. No re-assurance I gave her would stop her from believing that I was going to be gone the next time she came home from work.
She started self harming. When she was younger, she frequently thought that the reason that her mother was never around, her father left, her brother abused her, was all her fault. Hurting herself made her feel like she was being punished, and that her sins were being forgiven. Her church growing up was very abusive. They would make people stand up in front of the entire congregation and "confess" their sins in front of everyone. When she had premarital sex with her first boyfriend, she almost killed herself after when her mother found out and made her "confess" to the congregation. She hospitalized herself with a suicide attempt after this happened, and has never respected her mother since.
I called up our PCP and told her that my wife dseperately needed help. After an appointment, blood work, and a CT scan for the issues with concieving, she was diagnosed with Severe Depression, Insulin Resistance, and PCOS. She was put on medication and around this time I had found a job, so I told her that she could cut back on her hours and I would start helping her with her bills. We also started looking for a therapist for her. She started going to the therapist and she seemed a lot happier. We were having fun with friends again, and she felt like the happy, bubbly woman I married again.
In early 2016, we got great news! We were pregnant! Because I was making enough money at the time to pay her bills and mine, she was able to only work 20 hours a week through her pregnancy, and then her job gave her 6 months leave when the baby was due. While she was a few months along, she unfortunately got into another car accident, and so again, I helped her buy a new care, this time a minivan, because she wanted it for our kids. She was going to pay for it again, because she said she was tired of me paying for everything for her again. I have no issues with this as I never have, because whenever I try to pay for something, she doesn't let me.
When we had our child, I had saved up enough money to start my own business. Using the money I had saved, I started up a computer system building company, and servicing the local area, I was able to be home a lot more than working my job, and still make the same amount of money. The business started doing extremely well, and I hired a few employees and a friend of mine to work for me, letting me spend more time with my wife and newborn daughter.
Then, we started having problems again. My wife was in a lot of credit card debt from not managing her money ($30,000), and she had been hiding it from me. She was having issues breastfeeding our kid and would break down for hours at a time over not being able to do it. She was diagnosed with post-partum depression and started going to a different therapist. I wasn't making enough money for paying for our insurance, electrical, car payments, taxes and the credit card debt she had built up. I was upset, but it's extremely uncharacteristic for me to get mad about money, because I have always had money. I offered to use our house savings (we were saving up for a bigger house to have more kids) and pay off her debt again. She said no.
She decided she was going work full time again. I helped her get a debt consolidation loan for her cards, and she began working full time while I took care of our daughter.
This was in the beginning of 2017.
Towards the middle of 2017, our life was going great. My business had taken off, and I was making $10,000 dollars profit a month. I had gotten early in on cryptocurrency back in 2013, and was riding high on the bull run from Bitcoin. My company made crypto mining machines due to having a ton of stock from system building, and we were selling those for record amounts. My wife had cut down to part time because I could afford the extra to help her bills, and she could spend more time with me and our daughter. Things couldn't of been better.
Then in 2018, the crypto market crashed. My cryptocurrency that had been worth almost $500k crashed down to $60k of value in the span of a month and a half. I had to start selling it to pay off debt the company had taken on to expand, or else it was going to hurt me more. But I kept holding onto the majority of it.
I kept my business running, but things were winding down because the crypto run was over. We were operating on razor thin margins. In May of 2018, I stopped paying myself while still running the business to make sure I could keep paying my employees. I was still getting a stipend from investments every month in the amount of a few thousand, so I could afford to not pay myself. I was still taking care of my daughter, but my wife had to go back up to full time. I started looking for jobs, figuring with my 2 associates degrees and my master degree, I could get a good job easy.
In the beginning of 2019, I found out my wife had gotten another $25,000 of credit card debt she was hiding from me. She was eating out daily, bringing home for us to eat, and telling me she was making enough money to afford it. She was now up to almost $45,000 of debt, not including her car. I was upset. I told her she can't keep spending money like we have millions. My business wasn't going well, and we needed to cut back our spending so we can get a bigger house to have another kid like she wants. She broke down again.
She admitted she had a money management issue. She locked all her credit cards up in the house safe, and she agreed to only spend money off her debit card.
Then, the trade wars hit. Our stock account took a huge hit, and because I didn't have strong hands, I sold, at a loss of almost $55,000 dollars. Our stock brokerage trading account that had almost 70k of assets was only worth around $15k dollars. I no longer had the money to cover paying off my wife's debt in an emergency.
In April of 2019, we just received our income taxes, due to my losses from last year, and reduced income, we were due back a large amount. I had unfortunately cut down the business to only myself working for it, as the company still had debt that was used a few years ago to expand to pay off. I still have kept the business operating, unable to pay myself for close to a year now, having to sell crypto to cover bills when business wasn't good enough.
The first day of May, I took this money and put it back in the stock market, but due to weak hands again, I lost 60% of it again before the markets rebounded. The trade wars had taken a ton of my wealth again. Our brokerage account was now worth less than $10k, and I withdrew the rest to put it into my checking account.
Over the past 6 months, I've had to sell off all my remaining cryptocurrency. I have none left. I have to continue running my business in it's dilapidated state, only making enough to pay the bills at the end of the month. I have gotten down to my last $5,000 in cash, and my monthly inheritance stipend, barely pays the bills for the house.
All of the money my wife makes goes to paying off her credit card debt, her student loans, and her car payment. When she comes home, she sits down and plays video games while letting our 3 year old run wild and destroy the house while I sleep. We are trying to potty train, but that's not going well, and when I'm sleeping, our daughter will routinely use the bathroom on the floor then smear it on the walls. My wife will not always notice, and I will wake up having to clean up shit off the walls.
I have been breaking down nonstop. I cannot handle the level of stress I have been having. I have interviewed for 12 jobs in the past 6 months, and not gotten hired. I have applied to over 30. I have lost over $100k of our savings in the past year alone. I never get to see my wife because when she is working, I have to take care of our daughter, and when she gets home, I have to sleep so I can make sure I'm able to work while they are sleeping, because I am unable to work while they're both awake. I make it a priority to make sure I spend a few hours with my wife and daughter a day, so they have time with me.
My wife has not been a responsible adult for months now. She doesn't do her small part of the chores, which is simply do the laundry every week. Every week I take out the trash, clean up the yard, do all the dishes, cook dinner daily, vacuum the house daily, clean up my daughters shit and piss off the floor daily, clean up the mess that my daughter makes when she's playing. We recently found out my daughter is going to need speech therapy. Our house looks like a disaster zone. Our PCP said the speech therapist will come to our house to make it a more "secure environment" for our daughter to get help in. I'm terrified that we're going to get social services called for the state of our house and lose our daughter, but I physically cannot keep up with keeping it clean by myself, because every time I clean something, something else gets destroyed because my wife doesn't watch our daughter.
My wife will throw trash on the floor in the house. She won't pick up dishes. She won't clean up the toys or help our daughter do that when I'm sleeping. There is shit caked on the wall in the nursery because almost every day I can't find it all and clean it all up when my daughter is awake.
I cracked. I cursed at her for the first time in my life. She broke down, she said she's been so stressed and she's trying. I understand how it is to be stressed, I'm stressed too, but I said we need to try harder for our daughter. I told her I don't want to lose her.
Then 2 weeks ago, a text sent late. I'm sure everyone heard about the Verizon bug where texts got send late. You can read about it https://www.theverge.com/2019/11/7/20953422/text-messages-delayed-received-overnight-valentines-day-delay
I had an old text get sent that said "Do you still need me?"
My wife thought I was going to commit suicide.
She said that if I don't get help she's going to leave me and take our daughter with her. She didn't believe me when I showed her the text issue. She says I've been having depression issues for months, and that she's been asking me to get help. She said her therapist has been telling her for months that I need to go get help, and that the idea to threaten to leave me was her THERAPIST'S IDEA, because that threat has MOTIVATED ME BEFORE. This made me extremely upset. I tell her the same thing I did every time, unless they are going to give me a well paying job or hand me a million dollars, therapy is not going to help me.
But I need advice. I love my wife. I have no reason to leave her. In the almost 8 years we've been married, I've never told her I was going to leave her. I pointed this out to her, she still says she can't trust me when I tell her that. I told her why am I being punished for her insecurity. I have done nothing but try to give her a great life. Yes, we've been having a hard time with money for the past year, and I've been very frustrated, but all couples have issues throughout their relationships. She says she doesn't want our daughter growing up hearing her daddy talk about suicide and her maybe hear that.
I'm just trying to figure out how to handle this. I have friends telling me I should leave her. I don't see why I should. I love my wife. I would never leave her, and I feel like now she needs help again. She has gotten happier in person or at least it seems so, but her therapist telling her to threaten me to make me take action seems like a flag for her therapist. But she likes her therapist and likely wouldn't listen if I asked her to find a new one. I asked her to get therapy when she was severely depressed because she didn't seem like the woman I fell in love with anymore. Maybe part of her has come back, but the woman I fell in love with wouldn't be so irresponsible with our daughter, and wouldn't ignore her chores like she does.
I just don't know what to do. I'm scheduled to see our PCP in Janurary for depression, but I don't think it's going to go like she expects, and she hasn't set any expectations of what she's expecting me to get out of this. She says I'm not the man she married any more, but of course I'm not when I'm broke and at the end of my rope with trying to find a job. I feel like anyone would be frustrated and upset if they were in the same position as me. Every day I wake up, work for my failing business that doesn't pay me, take care of my toddler while my wife works, and never get to do anything fun with my family because we have no money and no one will hire me.
I just don't know what to do. I don't want to lose my wife. I have sacrificed so much for her. I want to make her happy. I want my daughter to not have a broken family like my wife had and grow up happy. After her threatening to leave me again, it feels like she doesn't need me anymore. It hurts me severely that she can say that so easily after everything I have done for her. I know she is stressed, and I feel like her saying she's going to leave me helps her cope somehow. I'm resenting her still seeing the same therapist, giving her advice on her home life off my wife's singular perspective. I just don't know what to think anymore.
I want to make the people I love happy.
submitted by ThrowRALovemywife to relationship_advice [link] [comments]

/r/Bitcoin FAQ - Newcomers 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.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For some more great introductory videos check out Andreas Antonopoulos's YouTube playlists, he is probably the best bitcoin educator out there today. Also have to give mention to James D'Angelo's Bitcoin 101 Blackboard series. Lots of additional video resources can be found at the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here, here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin 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.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or 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.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
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, usually from a text message or app, 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
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are 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.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins 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, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

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. Bitseed is an easy option for getting set up. 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, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, 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 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, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

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
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 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. A complete list of bitcoin related subreddits can be found here
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 BinaryResult to Bitcoin [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to CryptoCurrencies [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to BitcoinMining [link] [comments]

Frequently Asked Questions and Information Thread

This FAQ and information thread serves to inform both new and existing users about common Bitcoin topics that readers coming to this Bitcoin subreddit may have. This is a living and breathing document, which will change over time. If you have suggestions on how to change it, please comment below or message the mods.
What is /btc?
The /btc reddit community was originally created as a community to discuss bitcoin. It quickly gained momentum in August 2015 when the bitcoin block size debate heightened. On the legacy /bitcoin subreddit it was discovered that moderators were heavily censoring discussions that were not inline with their own opinions.
Once realized, the subreddit subscribers began to openly question the censorship which led to thousands of redditors being banned from the /bitcoin subreddit. A large number of redditors switched to other subreddits such as /bitcoin_uncensored and /btc. For a run-down on the history of censorship, please read A (brief and incomplete) history of censorship in /bitcoin by John Blocke and /Bitcoin Censorship, Revisted by John Blocke. As yet another example, /bitcoin censored 5,683 posts and comments just in the month of September 2017 alone. This shows the sheer magnitude of censorship that is happening, which continues to this day. Read a synopsis of /bitcoin to get the full story and a complete understanding of why people are so upset with /bitcoin's censorship. Further reading can be found here and here with a giant collection of information regarding these topics.
Why is censorship bad for Bitcoin?
As demonstrated above, censorship has become prevalent in almost all of the major Bitcoin communication channels. The impacts of censorship in Bitcoin are very real. "Censorship can really hinder a society if it is bad enough. Because media is such a large part of people’s lives today and it is the source of basically all information, if the information is not being given in full or truthfully then the society is left uneducated [...] Censorship is probably the number one way to lower people’s right to freedom of speech." By censoring certain topics and specific words, people in these Bitcoin communication channels are literally being brain washed into thinking a certain way, molding the reader in a way that they desire; this has a lasting impact especially on users who are new to Bitcoin. Censoring in Bitcoin is the direct opposite of what the spirit of Bitcoin is, and should be condemned anytime it occurs. Also, it's important to think critically and independently, and have an open mind.
Why do some groups attempt to discredit /btc?
This subreddit has become a place to discuss everything Bitcoin-related and even other cryptocurrencies at times when the topics are relevant to the overall ecosystem. Since this subreddit is one of the few places on Reddit where users will not be censored for their opinions and people are allowed to speak freely, truth is often said here without the fear of reprisal from moderators in the form of bans and censorship. Because of this freedom, people and groups who don't want you to hear the truth with do almost anything they can to try to stop you from speaking the truth and try to manipulate readers here. You can see many cited examples of cases where special interest groups have gone out of their way to attack this subreddit and attempt to disrupt and discredit it. See the examples here.
What is the goal of /btc?
This subreddit is a diverse community dedicated to the success of bitcoin. /btc honors the spirit and nature of Bitcoin being a place for open and free discussion about Bitcoin without the interference of moderators. Subscribers at anytime can look at and review the public moderator logs. This subreddit does have rules as mandated by reddit that we must follow plus a couple of rules of our own. Make sure to read the /btc wiki for more information and resources about this subreddit which includes information such as the benefits of Bitcoin, how to get started with Bitcoin, and more.
What is Bitcoin?
Bitcoin is a digital currency, also called a virtual currency, which can be transacted for a low-cost nearly instantly from anywhere in the world. Bitcoin also powers the blockchain, which is a public immutable and decentralized global ledger. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. There is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank. Read the Bitcoin whitepaper to further understand the schematics of how Bitcoin works.
What is Bitcoin Cash?
Bitcoin Cash (ticker symbol: BCH) is an updated version of Bitcoin which solves the scaling problems that have been plaguing Bitcoin Core (ticker symbol: BTC) for years. Bitcoin (BCH) is just a continuation of the Bitcoin project that allows for bigger blocks which will give way to more growth and adoption. You can read more about Bitcoin on BitcoinCash.org or read What is Bitcoin Cash for additional details.
How do I buy Bitcoin?
You can buy Bitcoin on an exchange or with a brokerage. If you're looking to buy, you can buy Bitcoin with your credit card to get started quickly and safely. There are several others places to buy Bitcoin too; please check the sidebar under brokers, exchanges, and trading for other go-to service providers to begin buying and trading Bitcoin. Make sure to do your homework first before choosing an exchange to ensure you are choosing the right one for you.
How do I store my Bitcoin securely?
After the initial step of buying your first Bitcoin, you will need a Bitcoin wallet to secure your Bitcoin. Knowing which Bitcoin wallet to choose is the second most important step in becoming a Bitcoin user. Since you are investing funds into Bitcoin, choosing the right Bitcoin wallet for you is a critical step that shouldn’t be taken lightly. Use this guide to help you choose the right wallet for you. Check the sidebar under Bitcoin wallets to get started and find a wallet that you can store your Bitcoin in.
Why is my transaction taking so long to process?
Bitcoin transactions typically confirm in ~10 minutes. A confirmation means that the Bitcoin transaction has been verified by the network through the process known as mining. Once a transaction is confirmed, it cannot be reversed or double spent. Transactions are included in blocks.
If you have sent out a Bitcoin transaction and it’s delayed, chances are the transaction fee you used wasn’t enough to out-compete others causing it to be backlogged. The transaction won’t confirm until it clears the backlog. This typically occurs when using the Bitcoin Core (BTC) blockchain due to poor central planning.
If you are using Bitcoin (BCH), you shouldn't encounter these problems as the block limits have been raised to accommodate a massive amount of volume freeing up space and lowering transaction costs.
Why does my transaction cost so much, I thought Bitcoin was supposed to be cheap?
As described above, transaction fees have spiked on the Bitcoin Core (BTC) blockchain mainly due to a limit on transaction space. This has created what is called a fee market, which has primarily been a premature artificially induced price increase on transaction fees due to the limited amount of block space available (supply vs. demand). The original plan was for fees to help secure the network when the block reward decreased and eventually stopped, but the plan was not to reach that point until some time in the future, around the year 2140. This original plan was restored with Bitcoin (BCH) where fees are typically less than a single penny per transaction.
What is the block size limit?
The original Bitcoin client didn’t have a block size cap, however was limited to 32MB due to the Bitcoin protocol message size constraint. However, in July 2010 Bitcoin’s creator Satoshi Nakamoto introduced a temporary 1MB limit as an anti-DDoS measure. The temporary measure from Satoshi Nakamoto was made clear three months later when Satoshi said the block size limit can be increased again by phasing it in when it’s needed (when the demand arises). When introducing Bitcoin on the cryptography mailing list in 2008, Satoshi said that scaling to Visa levels “would probably not seem like a big deal.”
What is the block size debate all about anyways?
The block size debate boils down to different sets of users who are trying to come to consensus on the best way to scale Bitcoin for growth and success. Scaling Bitcoin has actually been a topic of discussion since Bitcoin was first released in 2008; for example you can read how Satoshi Nakamoto was asked about scaling here and how he thought at the time it would be addressed. Fortunately Bitcoin has seen tremendous growth and by the year 2013, scaling Bitcoin had became a hot topic. For a run down on the history of scaling and how we got to where we are today, see the Block size limit debate history lesson post.
What is a hard fork?
A hard fork is when a block is broadcast under a new and different set of protocol rules which is accepted by nodes that have upgraded to support the new protocol. In this case, Bitcoin diverges from a single blockchain to two separate blockchains (a majority chain and a minority chain).
What is a soft fork?
A soft fork is when a block is broadcast under a new and different set of protocol rules, but the difference is that nodes don’t realize the rules have changed, and continue to accept blocks created by the newer nodes. Some argue that soft forks are bad because they trick old-unupdated nodes into believing transactions are valid, when they may not actually be valid. This can also be defined as coercion, as explained by Vitalik Buterin.
Doesn't it hurt decentralization if we increase the block size?
Some argue that by lifting the limit on transaction space, that the cost of validating transactions on individual nodes will increase to the point where people will not be able to run nodes individually, giving way to centralization. This is a false dilemma because at this time there is no proven metric to quantify decentralization; although it has been shown that the current level of decentralization will remain with or without a block size increase. It's a logical fallacy to believe that decentralization only exists when you have people all over the world running full nodes. The reality is that only people with the income to sustain running a full node (even at 1MB) will be doing it. So whether it's 1MB, 2MB, or 32MB, the costs of doing business is negligible for the people who can already do it. If the block size limit is removed, this will also allow for more users worldwide to use and transact introducing the likelihood of having more individual node operators. Decentralization is not a metric, it's a tool or direction. This is a good video describing the direction of how decentralization should look.
Additionally, the effects of increasing the block capacity beyond 1MB has been studied with results showing that up to 4MB is safe and will not hurt decentralization (Cornell paper, PDF). Other papers also show that no block size limit is safe (Peter Rizun, PDF). Lastly, through an informal survey among all top Bitcoin miners, many agreed that a block size increase between 2-4MB is acceptable.
What now?
Bitcoin is a fluid ever changing system. If you want to keep up with Bitcoin, we suggest that you subscribe to /btc and stay in the loop here, as well as other places to get a healthy dose of perspective from different sources. Also, check the sidebar for additional resources. Have more questions? Submit a post and ask your peers for help!
submitted by BitcoinXio to btc [link] [comments]

/r/Bitcoin FAQ - Newcomers 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.
Some great introductions for new users are My first bitcoin, Bitcoin explained and ELI5 Bitcoin. Also, the following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
Also have to give mention to 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. Bitcoin statistics can be found here, here and here. Developer resources can be found here, here and here. Peer-reviewed research papers can be found here. Potential upcoming protocol improvements here. Scaling resources here. The number of times Bitcoin was declared dead by the media can be found here (LOL!), and of course Satoshi Nakamoto's whitepaper that started it all! :)
Key properties of bitcoin

Where can I buy bitcoins?

Bitcoin.org, BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin 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.
Bank Transfer Credit / Debit card Cash
Gemini Bitstamp LocalBitcoins
Bitstamp Bitit Mycelium LocalTrader
BitFinex Cex.io LibertyX
Cex.io CoinMama WallofCoins
Xapo Spectrocoin BitcoinOTC
Kraken Luno BitQuick
itBit
HitBTC
Bitit
Bisq (decentralized)
Luno
Spectrocoin
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.
Android iOs Desktop
Samouari BreadWallet Electrum
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
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, usually from a text message or app, 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
Android Android
iOS iOS

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for some good options, some of the more commons ones 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.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, Overstock, The Bitcoin Directory and BazaarBay 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, Hyphen.to, Coinsfer, More #1, #2 Bill payment
Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
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, such as Wikipedia, United Way, ACLU and the EFF. You can find a longer list here.

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. Bitseed is an easy option for getting set up. 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, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Streamium.io, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, 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 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, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream, Rootstock and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

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
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
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. A complete list of bitcoin related subreddits can be found here
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 BinaryResult to Bitcoin [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to dogemining [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to CoinTelegraph [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to CoinBase [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to ethtrader [link] [comments]

/r/Bitcoin FAQ - Newcomers 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.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com is a very helpful site for beginners. You can buy or sell any amount of bitcoin 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.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or 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.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
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, usually from a text message or app, 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
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are 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.
Steam, HumbleBundle, GreenmanGaming, and Coinplay.io For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, Rakuten, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg, TigerDirect and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins 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, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

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. Bitseed is an easy option for getting set up. 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
Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, 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 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, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

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
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 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. A complete list of bitcoin related subreddits can be found here
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 BinaryResult to Bitcoin [link] [comments]

r/Bitcoin recap - November 2018

Hi Bitcoiners!
I’m back with the 23rd monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in November 2018
Adoption
Development
Security
Mining
Business
Research
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
Congratulations Bitcoin on about to be 1 Million subscribers! See you next month!
submitted by SamWouters to Bitcoin [link] [comments]

Please read our Frequently Asked Questions (FAQ)

This FAQ thread serves to inform both new and existing users about common Bitcoin issues, complaints, and comments that readers coming to this Bitcoin subreddit may have. This is a living and breathing document, which will change over time. If you have suggestions on how to change it, please comment below or message the mods.
What is /btc?
Bitcoin is commonly abbreviated as BTC, hence the name. The /btc reddit community was originally created as a community to discuss bitcoin. It quickly gained momentum in August 2015 when the bitcoin block size debate heightened. On the legacy /bitcoin subreddit it was discovered that moderators were heavily censoring discussions that were not inline with their own opinions.
Once realized, the subreddit subscribers began to openly question the censorship which led to thousands of redditors being banned from the /bitcoin subreddit. A large number of redditors switched to other subreddits such as /bitcoin_uncensored and /btc. For a run-down on the history of censorship, please read A (brief and incomplete) history of censorship in /bitcoin by John Blocke and /Bitcoin Censorship, Revisted by John Blocke. Update October 2017: As yet another example, /bitcoin censored 5,683 posts and comments just in the month of September 2017 alone. This shows the sheer magnitude of censorship that is happening. Read a synopsis of /bitcoin to get the full story and a complete understanding of why people are so upset with /bitcoin's censorship.
Why is censorship bad for Bitcoin?
As demonstrated above, censorship has become prevalent in almost all of the major Bitcoin communication channels. The impacts of censorship in Bitcoin are very real. "Censorship can really hinder a society if it is bad enough. Because media is such a large part of people’s lives today and it is the source of basically all information, if the information is not being given in full or truthfully then the society is left uneducated [...] Censorship is probably the number one way to lower people’s right to freedom of speech." By censoring certain topics and specific words, people in these Bitcoin communication channels are literally being brain washed into thinking a certain way, molding the reader in a way that they desire; this has a lasting impact especially on users who are new to Bitcoin. Censoring in Bitcoin is the direct opposite of what the spirit of Bitcoin is, and should be condemned anytime it occurs. Also, it's important to think critically, and have an open mind.
What is the goal of /btc?
This subreddit is a diverse community dedicated to the success of bitcoin. /btc honors the spirit and nature of Bitcoin being a place for open and free discussion about Bitcoin without the interference of moderators. Subscribers at anytime can look at and review the public moderator logs. This subreddit does have rules as mandated by reddit that we must follow plus a couple of rules of our own. Make sure to read the /btc wiki for more information and resources about this subreddit which includes information such as the benefits of Bitcoin, how to get started with Bitcoin, and more.
What is Bitcoin?
Bitcoin is a digital currency, also called a virtual currency, which can be transacted for a low-cost nearly instantly from anywhere in the world. Bitcoin also powers the blockchain, which is a public immutable and decentralized global ledger. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. There is no government, company, or bank in charge of bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With bitcoin, you can be your own bank. Read the Bitcoin whitepaper to further understand the schematics of how Bitcoin works. You can download a Bitcoin client to start fully using Bitcoin today; note that it takes time to sync full clients, which can take anywhere from 7 hours to over 24 hours for the initial blockchain download depending on your hardware and bandwidth.
How do I buy Bitcoin?
You can buy Bitcoin on an exchange or with a brokerage. If you're looking to buy Bitcoin with your credit card you can simply visit this buy Bitcoin link to get started quickly and safely. There are several others places to buy Bitcoin too; please check the sidebar under brokers, exchanges, and trading for other go-to service providers to begin buying and trading Bitcoin. Make sure to do your homework first before choosing an exchange to ensure you are choosing the right one for you.
How do I store my Bitcoin securely?
After the initial step of buying your first Bitcoin, you will need a Bitcoin wallet to secure your bitcoin. Knowing which Bitcoin wallet to choose is the second most important step in becoming a Bitcoin user. Since you are investing funds into Bitcoin, choosing the right Bitcoin wallet for you is a critical step that shouldn’t be taken lightly. Use this guide to help you choose the right wallet for you. Check the sidebar under Bitcoin wallets to get started and find a wallet that you can store your Bitcoin in.
Why is my transaction taking so long to process?
Bitcoin transactions typically confirm in ~10 minutes. A confirmation means that the Bitcoin transaction has been verified by the network through the process known as mining. Once a transaction is confirmed, it cannot be reversed or double spent. Transactions are included in blocks.
Over the past year, the Bitcoin network has hit its maximum capacity of 1MB of available transaction space (block size limit) causing fees to rise and block confirmations to slow. If you have sent out a Bitcoin transaction and it’s delayed, chances are the fee you used wasn’t enough to out-compete others causing it to be backlogged. The transaction won’t confirm until it clears the backlog. To help with this as a temporary solution, you can check fee estimator services to help you figure out the right fee to pay or use a transaction accelerator service to help get an already broadcast transaction mined and confirmed.
Why does my transaction cost so much, I thought Bitcoin was supposed to be cheap?
As described above, transaction fees have spiked in the past year mainly due to a limit on transaction space. This has created what is called a fee market, which has primarily been a premature artificially induced price increase on transaction fees due to the limited amount of block space available (supply vs. demand). The original plan was for fees to help secure the network when the block reward decreased and eventually stopped, but the plan was not to reach that point until some time in the future, around the year 2140.
What is the block size limit?
The original Bitcoin client didn’t have a block size cap, however was limited to 32MB due to the Bitcoin protocol message size constraint. However, in July 2010 Bitcoin’s creator Satoshi Nakamoto introduced a temporary 1MB limit as an anti-DDoS measure. The temporary measure from Satoshi Nakamoto was made clear three months later when Satoshi said the block size limit can be increased again by phasing it in when it’s needed (when the demand arises). When introducing Bitcoin on the cryptography mailing list in 2008, Satoshi said that scaling to Visa levels “would probably not seem like a big deal.”
How can the block size be increased to accommodate more transactions?
There have been many discussions and proposals to increase the block size over the past couple of years, so far without any success. The most recent way introduced by a group of developers has been through a new client called Bitcoin Unlimited (BU), which removes the temporary limit like the original client and lets the free market decide what block size is best, allowing for on-chain scaling. The BU plan is to accomplish this via a hard fork. Another recent alternative has been Segregated Witness (SegWit), which only allows a limited amount more of transactions through a signature optimization, removing signature data from conventional transactions and placing it into a new space, called the transaction witness. SegWit has been deployed as a soft fork (but not active), although it could also be implemented as a hard fork.
What is a hard fork?
A hard fork is when a block is broadcast under a new and different set of protocol rules which is accepted by nodes that have upgraded to support the new protocol. In this case, Bitcoin diverges from a single blockchain to two separate blockchains (a majority chain and a minority chain). Some argue that having two chains is problematic, but that is only the case if you believe that the minority chain will survive and have more market value than the majority chain. Read more about hard forks in our Hard Fork mega thread.
What is a soft fork?
A soft fork is when a block is broadcast under a new and different set of protocol rules, but the difference is that nodes don’t realize the rules have changed, and continue to accept blocks created by the newer nodes. Some argue that soft forks are bad because they trick old-unupdated nodes into believing transactions are valid, when they may not actually be valid.
Doesn't it hurt decentralization if we increase the block size?
Some argue that by lifting the limit on transaction space, that the cost of validating transactions on individual nodes will increase to the point where people will not be able to run nodes individually, giving way to centralization. This is a false dilemma because at this time there is no proven metric to quantify decentralization; although it has been shown that the current level of decentralization will remain with or without a block size increase. It's a logical fallacy to believe that decentralization only exists when you have people all over the world running full nodes. The reality is that only people with the income to sustain running a full node (even at 1MB) will be doing it. So whether it's 1MB, 2MB, or 4MB, the costs of doing business is negligible for the people who can already do it. If the block size limit is removed, this will also allow for more users worldwide to use and transact introducing the likelihood of having more individual node operators. Decentralization is not a metric, it's a direction. This is a good video describing the direction of how decentralization should look.
Additionally, the effects of increasing the block capacity beyond 1MB has been studied with results showing that up to 4MB is safe and will not hurt decentralization (Cornell paper, PDF). Other papers also show that no block size limit is safe (Peter Rizun, PDF). Lastly, through an informal survey among all top Bitcoin miners, many agreed that a block size increase between 2-4MB is acceptable.
What is the block size debate all about anyways?
The block size debate boils down to different sets of users who are trying to come to consensus on the best way to scale Bitcoin for growth and success. Scaling Bitcoin has actually been a topic of discussion since Bitcoin was first released in 2008; for example you can read how Satoshi Nakamoto was asked about scaling here and how he thought at the time it would be addressed. Fortunately Bitcoin has seen tremendous growth and by the year 2013, scaling Bitcoin had became a hot topic. For a run down on the history of scaling and how we got to where we are today, see the Block size limit debate history lesson post.
What is Bitcoin Cash?
This is a question we are seeing a lot of since Bitcoin hard forked on August 1, 2017. Bitcoin Cash (symbol: BCH) is just a newer version of Bitcoin that split in August in attempt to solve the scaling problems that have been plaguing Bitcoin for years. At it's core Bitcoin Cash is just a continuation of the Bitcoin project that allows for bigger blocks which will give way to more growth and adoption. You can read more about Bitcoin Cash in this mega thread or learn the difference between legacy Bitcoin and Bitcoin Cash.
What is SegWit2x?
Called SegWit2X, the upgrade plan calls for a very specific fork (or a change to Bitcoin's rules), one that would make certain rules valid that weren't valid before. Specifically, Segwit2x would change the size of the blocks passed regularly around the network and stored in the blockchain from 1 MB to 2 MB to allow for more onchain capacity and growth.
The SegWit2X announcement explains the upgrade to 2MB was first discussed at the ‘Hong Kong Roundtable Agreement’, and had further solidified at the ‘New York Agreement’ (NYA) this year at the Consensus conference. Both agreements involved implementing SegWit first and a block size increase from 1MB to 2MB later.
"The November 2017 upgrade to 2MB blocks is a hard-fork, but necessary changes are trivial to perform," explains the Segwit2x working group’s announcement. The targeted hard fork date is set to trigger on block height 494784, which is estimated to happen on or around November 16, 2017.
Please read the SegWit2X readiness checklist for more details and information about compatible clients.
What now?
Bitcoin is a fluid ever changing system. If you want to keep up with Bitcoin, we suggest that you subscribe to /btc and stay in the loop here, as well as other places to get a healthy dose of perspective from different sources. Also, check the sidebar for additional resources. Have more questions? Submit a post and ask your peers for help!
submitted by BitcoinXio to btc [link] [comments]

Bitcoin Faucet: Extrabtc - 4 satoshis every 0 minutes (Faucetpay) best video card for mining Bitcoin Cloud Mining New Earning Website Worldwide  Earn BTC Without Investment Best. Mining free. Bitcoins Best GPUs for Cryptocurrency Mining

Bitcoin mining is an application segment where AMD Radeon cards shine undisputedly. Once very popular among Bitcoin miners, but now somewhat dated, the Radeon HD 5830 card boasts 1120 stream The electricity cost involved in bitcoin mining is more than the $3000 of bitcoins, which are mined in the cheapest rates too. So if you are into the mining process, then it is high time that it should be left out for the future. The mining is not as profitable as it used to be. The second place goes to Iceland which controls 5% of the Bitcoin mining pools. Then come Japan and Czech Republic with 3%. And at the end of the list there are Georgia and India with only 2% of all pools. You can start mining in one of the pools and then redirect the hashing power to another mining pool at anytime. Top Bitcoin mining pools Before diving into how Bitcoin mining works, I recommend you to watch this short video on Bitcoin mining to get an overall picture of what mining is. As stated in the video, unlike printing of the fiat currency by central banks, bitcoins are mined on the Bitcoin network. We've been through the rise and fall of cryptocurrency mining using GPUs several times now—first in 2011 with Radeon HD 5870/5850 cards and Bitcoin (SHA256), then in 2013 with Radeon R9 290X/290

[index] [23479] [23452] [17960] [11243] [14630] [23585] [26509] [22711] [30194] [8900]

Bitcoin Faucet: Extrabtc - 4 satoshis every 0 minutes (Faucetpay)

Bitcoin Cloud Mining New Earning Website Worldwide Earn BTC Without Investment Website Link in First Comment ( Us Website Ka Link Pehly Comment men Pinned... Firstly I clear about Bitcoin Mining: Bitcoin Mining, We offer free high quality display card mining service. We are the only bitcoin mining company that provides this service for free. About:(studio99) is the channel where you can find all the latest video of free internet,online earning,Gadgets reviews,Best Apps reviews,And More about Technology So Don't forget to Subscribe My ... What was the best video card of 2013? Fin... Skip navigation Sign in. Search. ... Nvidia Said We Couldn't Game On This Crypto Mining Card... - Duration: 16:38. ... Hay friends! today I am going to discuss a new website of free GPU mining for Bitcoin earning. Hope you friends, will surely like my video. Link of the free GPU mining website: www ...

Flag Counter