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Latest Bitcoin News / Bitcoin Supply Loses 1,500 Coins Per Day, Says Crypto Analyst
« Last post by administrator on September 21, 2020, 03:39:05 PM »
Cryptocurrency analyst Timothy Peterson claims that the Bitcoin network is losing 1,500 BTC every day. This decreases the Bitcoin circulation to less than 14 million.

Read full article on coin quora Your Regular crypto Updates.
In a leaked document, the FINCEN files, revealed that banks are allowing thousands upon thousands of suspicious activities are being allowed by this banks, amounting to $ Trillions worth moving across the globe in the last ten years.

So the next time we hear reports that bitcoin or any other crypto is being the 'choice' of criminals, now, think again!.

In summary:

HSBC allowed fraudsters to move millions of dollars of stolen money around the world, even after it learned from US investigators the scheme was a scam.
JP Morgan allowed a company to move more than $1bn through a London account without knowing who owned it. The bank later discovered the company might be owned by a mobster on the FBI's 10 Most Wanted list.
Evidence that one of Russian President Vladimir Putin's closest associates used Barclays bank in London to avoid sanctions which were meant to stop him using financial services in the West. Some of the cash was used to buy works of art.
The husband of a woman who has donated £1.7m to the UK's governing Conservative Party's was secretly funded by a Russian oligarch with close ties to President Putin.
The UK is called a "higher risk jurisdiction" and compared to Cyprus, by the intelligence division of FinCEN. That's because of the number of UK registered companies that appear in the SARs. Over 3,000 UK companies are named in the FinCEN files - more than any other country.
The United Arab Emirates' central bank failed to act on warnings about a local firm which was helping Iran evade sanctions.
Deutsche Bank moved money launderers' dirty money for organised crime, terrorists and drug traffickers
Standard Chartered moved cash for Arab Bank for more than a decade after clients' accounts at the Jordanian bank had been used in funding terrorism.

The year 2020 has witnessed a surge in the number of ATMs supporting digital coins.

The total number of Bitcoin ATMs has now passed 10,000 worldwide. 

The future vision of a new generation of distributed and aggregated financial platform, sustainable mobile finance, is to create a cross chain bottom layer of decentralized financial ecological interconnection. At present, it is a decentralized decentralized aggregation financial protocol based on Ethereum network, creating a transparent and open infrastructure. In 2021q3, it will migrate to the bottom layer of SSMF. It is an open system that everyone can participate in. It is an extensible database of decentralized world, providing reliable data for decentralized DAPP and providing all-round services for defi platform.
Latest Bitcoin News / Billion Dollar Company and Bitcoin
« Last post by administrator on September 21, 2020, 05:06:09 AM »

“Bitcoin days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling.”

Above is the tweet by the MicroStrategy CEO in the year 2013. By that time he was skeptic about bitcoin value. Now the same person have forgotten about the tweet. This is the statement from him in a recent interview.

“I didn’t get all worked up about it. I’m like you’re right I was wrong, what an idiot I was, I wish I could go back and do it again.”

Michael Saylor added

Bitcoin solves the cash problem
He has chosen bitcoin finding it to be better than gold
He compliment it as a living thing, as miners keeps running the network alive

He never finds bitcoin volatility an issue, most of the time large scale investors state the volatility as a reason to prefer investing over gold and other investments. Finally the buying of 38250 bitcoins within 74 days have made their strong presence into the cryptocurrency market.

I don't know it is his statement or the author's, but the rhyming and the meaning is True

“anything that’s controlled by a CEO is crippled,
controlled by a state is crippled,
controlled by a country is crippled.”
This entire thing BTC is its own ecosystem.

Source :  MicroStrategy and Bitcoin
Latest Bitcoin News / MOVED: Query Regarding Hardware Wallets
« Last post by administrator on September 20, 2020, 08:08:00 PM »
This topic has been moved to Hardware wallets.
Latest Bitcoin News / My take on the 14 facts on Bitcoin
« Last post by administrator on September 20, 2020, 08:07:57 PM »
1. Apparently people in the community are using Honey badger as the unofficial mascot of Bitcoins .
2. Apparently in 2010 due to a bug 184 billion BTC were produced :joy: , don't be so happy guys this error is already erased .
3. The maximum number of Bitcoins is not actually 21 millions but actually 20.99 something.
4. A smaller unit than Satoshi is in use now called msat!
5. Bitcoin's uptime is covered apparently 99.99% which is supposed to be an amazing thing if a centralized body achieve it .
6. The Disappearance of Bitcoins is actually connected with CIA when a person named Gavin actually went and complained about him. - creepy - (I don't think he would have disappeared if all he did was say good things about him)
7. The first Faucets actually gave 5 BTC ! *5* to each visitor ( why did I not know of this before :sob:)
8. It is only used 10% for the crime thing ! ONLY 10% !
(For people asking me to back it up :joy: "
Illegal Activity No Longer Dominant Use of Bitcoin: DEA Agent. A special agent with the U.S. Drug Enforcement Administration (DEA) has reportedly revealed that the use of bitcoin in illegal activities has shrunk to about 10 percent from 90 percent previously.", Read about it first !)
9. There are around 70 forks related to Bitcoins.
10. Mining consumes much energy as a mid size country :sweat_smile: ( we gotta use some renewable sources soon enough )
11. The first transaction for Bitcoins was made for PIZZA !(first time when it was used as a Currency)
12. Lightning network can hold millions of transactions per second! ( Trust me that's good )
13 . Since 2017 the Bitcoins have achieved higher transactions compared to PayPal related to values .
14. You can gamble via Bitcoin online on a decentralized casino, EarnBet ( and require no KYC in the process
Latest Bitcoin News / Bitcoin and Scrooge McDuck back to the Klondike
« Last post by administrator on September 20, 2020, 06:06:37 PM »
Recently, digging on some old comics I found this:

The comic was published on 1952 and can be read here.

What interesting does it have? Within those 32 pages and generally the way Scrooge behaves, it tries to tell us indirectly that the dream of uncle Scrooge is to store his gold somewhere safe. He could never be calm if he hadn't thought of a way to store his wealth somewhere that no thieves could steal it. Well, in this example, Scrooge seems to have forgotten where he had stored his gold. When he was young the amount of gold wasn't worth that much, but in 1952, when he was pretty old, the gold worthed a lot! Actually, he mentions that it worths 1 billion dollars. (Back when the dollar was much more valuable)

I wanted to post this, because I find many commons of bitcoin and Scrooge's dream. While Scrooge was trying to hide his gold somewhere that he would only know (all these years), we conclude that, finally, bitcoin would fulfil his dream.

In my opinion, these are some interesting coincidences I found with Scrooge and Bitcoin:

I don't want to create any conspiracy theories. I just thought that it would be nice to post these similarities on the bitcoin forum.
Latest Bitcoin News / 22 Bitcoin interesting facts
« Last post by administrator on September 20, 2020, 04:14:34 PM »

22 Bitcoin interesting facts

1. The first Bitcoin purchase was for guess it … pizza. - May 22 is Bitcoin Pizza Day! Two pizzas were exchanged by Papa Johns for 10,000 BTC, this being the first officially documented purchase using bitcoins. At that time 10,000 BTC was worth only $41! That’s around $25 million in today’s value.

2. Bitcoin is untraceable & Bitcoin is NOT untraceable.
When you make any transaction using bitcoin your identity is never used in any form whatsoever. Only your ‘public’ identity is visible. But there is a but…The ‘blockchain’ is a ledger in a permanent form, this is transparent so if anyone knows your public address they could see the amount of bitcoins you hold and what transactions you have made. It is said this how the FBI found and captured the owner of Silk Road.

3. Bitcoins do not grow on trees.
Just like money bitcoins do not grow on trees! Of course, unlike money, you can never feel, touch or print bitcoin.
Bitcoins are mined on a network called the blockchain only existing when a miner finds and ‘mines’ bitcoin blocks. Currently, the mining power of the Bitcoin network is over 300 times more powerful than the 5 top supercomputers of the world combined!

4. 21 million bitcoins there can never be more.
Bitcoin’s supply is, of course, finite, it has to end somewhere right?
It’s true 21 million bitcoins is the limit, there can never ever be any more after that. Currently, around 16 million bitcoins have been mined and are being traded. It is predicted that the very last bitcoin will be mined around 2140. After that, there will be no new bitcoins that can be mined.

5. Bitcoin cannot be banned
Due to the nature of Bitcoin, there is always a talk about banning it. Bitcoin works outside the traditional banking system so attracts a lot of hostility. However, its design ensures that it cannot be banned however it can be regulated. If you have an internet connection and a bitcoin wallet you can invest in bitcoin.
This hasn’t stopped many countries trying to ban it. Bolivia, Thailand, Vietnam and Bangladesh, for example, have all tried. Other more accommodating countries such as Russia, Japan, Australia and Venezuela have made bitcoin legal tender and regulated it. Finally, some countries like India and the USA are not clear and have not defined an official policy regarding cryptocurrencies yet.
In short, Bitcoin can’t be buried or pushed away. That is the real beauty of Bitcoin!

6. You can load of great stuff with Bitcoin.
So what can you buy with bitcoins?
Here are just some of the goods you can buy with Bitcoin : Starbucks coffee, many online food, travel items, flight tickets, funeral items (only in USA), tesla cars, online gambling, luxury items, you even can support charities and many more!

7. Who created it?
Although Satoshi Nakamoto has been credited with developing Bitcoin in 2009, we know that most certainly this is a pseudonym for a single person or a group of people who were working on the idea. Nakamoto vanished from the Internet back in 2011, leaving only a few clues as to who he/they might be.

Over the years, there were many people who have publicly came out as Satoshi. However, most of them failed to support their statements with solid facts.

Dorian Nakamoto from California was given the title of Bitcoin “creator” by a journalist who thought that there were many similarities between the two Nakamotos. This claim was disproved by Dorian, though.

Probably the most well-known case of someone claiming to be Satoshi is that of Craig S. Wright, an Australian academic. He has tried multiple times to provide evidence, however, hasn’t been successful to this day. All the “proof” turned out to be fabricated.

Many people agree that the creator of the first decentralised currency should probably remain anonymous due to the nature of their creation. After all, removing the one single identity that can be associated with Bitcoin removes every influence on politics, rules and decision-making of the community.

8. The FBI is owning one of the largest Bitcoin wallets
A few years ago, the FBI shut down the Silk Road which was a big black market website where Bitcoin was frequently used to make different purchases. FBI acquired all the Bitcoins that were circulating around the website, which is around 1.5% of all the world’s Bitcoin.

That may not sound like a huge amount but looking at the big picture, 1.5% is considerably a huge amount for one entity to own.

9.If you lose your private key (Bitcoin wallet), you lose your Bitcoins.
You store your Bitcoins in a digital wallet. You can log in and check your balance. One thing, though, you have to be very careful when it comes to storing your password and key, which is what allows you to access your digital Bitcoin wallet. If you lose this access, you’ll lose access to your Bitcoin wallet and the amount you have inside.

It's thought that around 20% of the entire Bitcoin supply is 'lost', primarily due to misplaced or stolen keys, or laptops or computers that have been discarded.

10.Transactions can't be reversed.
More conventional forms of payment, such as bank transfer, can be tracked and, if needed, reversed. This isn't the case with Bitcoin is not the only cyber currency, though it remains the most highly valued one. Bitcoin gets almost all the media coverage but these days there are so many cryptocurrencies to choose from if you are interested in investing and trading. Once the money has been sent, you can't recoup it. It's vital, therefore, that you double-check the address you're sending the funds to.

11. More powerful than supercomputers
According to some experts, Bitcoin networks have a computing power of over 2,046,364 Pflop/s. To give you a clear idea of how much that is, the computing power of 500 supercomputers would give you around 274 Pflop/s.

12. Bitcoin has been sent to space
In 2016, the cryptocurrency became the first to make it out of the Earth's atmosphere and into space. Cloud provider Genesis Mining tied a Bitcoin paper wallet and a 3D model of Bitcoin to a weather balloon, using a GoPro to track its progress. Successful transactions were carried out at 20 and 34 kilometres altitude.

13. A unit of Bitcoin is called a 'Satoshi byte'
Just as dollars can be divided into cents and pounds into pence, Bitcoins also have their own denominations, but they're much smaller. Named after the mysterious inventor of the cryptocurrency, 1 Satoshi byte is worth 0.00000001 Bitcoin, a tiny amount!

14. Bitcoin transactions cost almost nothing
PayPal and banks require their customers to pay transaction and other types of service fees. The good news is that Bitcoin transactions can be carried out free of charge because there's no middleman! True, some exchanges charge a small fee, but this is simply to pay those who 'mine' Bitcoin and release it into the system.

15. The sender/receiver details are hidden
Bitcoin addresses are a long string composed of 34 alphanumeric characters. Just by using this address it’s impossible to know who’s the recipient. That’s one of the main reasons why Bitcoin is a preferred method of conducting illegal transactions. Most wallet programs also assign each user a portfolio ID, used as a username, to further protect the privacy of the senders/receivers.

16. Bitcoin is very volatile
Bitcoin is highly volatile. The world’s largest digital currency has surely generated a great return for some investors. However, Bitcoin has a highly volatile nature which undermines its ability to function as a proper currency. Predictions have also been made that Bitcoin might fall in the future if it follows its current path.

17. Bitcoin creates a lot of energy
Bitcoin mining is a big business and it requires vast amounts of computer processing power. Various estimates of just how much CO2 it uses equate to around one million transatlantic flights, or the equivalent of the energy output of the Republic of Ireland, New Zealand, Hungary or Peru.

Basically, if Bitcoin miners were a country, they would rank 61st in the world in terms of electricity consumption. It has been said that around 2.5 million people could be powered by Bitcoin mining and this is something we have to consider in the future.

While Bitcoin has undoubtedly disrupted the technology sector in recent years, its incredibly wasteful process needs to be improved.

18. Bitcoin is created through mining
Speaking of mining and energy, let’s talk about how Bitcoin is created.

The process is called mining and the core technology behind it is called Blockchain technology. It’s dependent on a network of nodes, ensuring the integrity of transaction history by achieving consensus.

One part of the process is called validation.

Once a transaction has been validated, nodes need to race, using trial/error to solve a mathematical puzzle of high difficulty levels, requiring heavy computing resources.

The first computer in the network that manages to solve the equation will be rewarded with Bitcoins. This process is called “mining Bitcoins” and the protocol is referred to as Proof of Work (PoW).

Bitcoin mining process serves two purposes:

It allows the creation of new Bitcoins
Facilitates the processing of transactions in the network
Bitcoin mining requires a lot of energy, hardware and bandwidth. Therefore, if you plan on doing this at home, the cost of electricity will likely outweigh the value of Bitcoins you will end up mining, so keep that in mind.  

19. You have to account for Bitcoin on your taxes
Regulations for Bitcoin are in fact still in the making, however, the U.S. government has declared that Bitcoin - as well as other cryptocurrencies - are in fact capital assets, just like bonds and stocks. Keep in mind that if you don’t account for the Bitcoins you are in possession of, you could be on the hook for tax evasion.

Make sure you double-check the laws in your country and follow them correctly.

20. Value overflow incident
We’ve already mentioned that Bitcoin has a limit of 21 million in circulation. However, something bizarre happened on August 2010, known as the “value overflow incident”. A vulnerability in code allowed someone to conduct a transaction, resulting in the creation of over 180 million bitcoins.

The error was taken care of right away and we got our limit of 21 million Bitcoins back.
21. Bitcoin was not the first attempt at making a P2P digital currency.
Many people think that Bitcoin was the first attempt at making a digital currency, Well, it’s not exactly like that.

Wei Dai’s B-Money, Nick Szabo’s Bit Gold, Adam Back’s Hashcash and David Chaum’s DigiCash were the precursors to Bitcoin. Unfortunately, each of those currencies failed to gain traction because of their proposed centralised systems.

22. Not the only one to watch out for
Bitcoin is not the only cyber currency, though it remains the most highly valued one. Bitcoin gets almost all the media coverage but these days there are so many cryptocurrencies to choose from if you are interested in investing and trading.

Right now, there are over 2,500 cryptocurrencies in total.

Ethereum, for instance, is another popular cryptocurrency that was funded through crowd-funding and went live back in 2014.

There are differences, however. Ethereum exists within its own network and is used more for gambling, investing, dApps (decentralised applications) and smart contracts rather than for everyday purchases.

« Last post by administrator on September 20, 2020, 04:14:31 PM »

Bitmain has been around for 7 years today.
That's why we now have an extreme temporary discount
Check out the website for the discount BTC

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