How could Bitcoin potentially make us rich if fiat is going to the sh*tter? **This is an honest question**
I know this is probably a silly question but I'm having a hard time wrapping my brain around an answer nor can I find one on Google. So hypothetically, if fiat currencies DO crash and burn, how exactly is Bitcoin (or other crypto) going to make us rich? What are we going to exhange our Bitcoin into? Hardly anything accepts Bitcoin as payment yet, so what is our Bitcoin even going to be worth if fiat isn't worth anything anyways?
How much will you make when bitcoin hits 1 million?
Without going into a bunch of math this is the easy way to figure it out. Let's say you bought $778.00 [0.05972483] of bitcoin today currently at $13,026.00 for 1.0 BTC. You take the last 2 digits of your bitcoin balance and turn it into cents. VwaLa! For every $778 you chip in today gets you $59,724.83 [From 0.05972483] when BTC hits 1 million. Before when bitcoin was 10 grand each, it was every dollar you put in you get 100 dollars back.
How to make kid-friendly bitcoin QR faucet for Halloween??
The other day I was looking at this article regarding a bitcoin cyber city and the QR code faucet inside the world that gives out 1 satoshi per hour caught my attention. I thought this would be a fucking awesome idea to print on a piece of paper to distribute alongside candy this Halloween! Even kids under 10 have cellphones these days so they'll be able to scan the code pretty quickly and thus have some exposure to bitcoin; and at the very least it will create some sort of dialogue (whether good or bad idgaf). As of right now, it looks like I can make one pretty easily on this site, which I found from my brief adventures in crypto city from the article above. However, that bitcoin QR faucet site ONLY WORKS on the Lightning Network, and when a random cell phone scans the QR code all they get is an incredibly lengthy scramble of numbers and letters. No instructions, no "congratulations you've just received some bitcoin," absolutely fucking no information as to what to do regarding the QR code whatsoever. This is obviously problematic for what I'm looking for. Does anyone know how I could make a bitcoin or ethereum QR code faucet that would actually tell the person using it what was required in order to claim the free crypto dust??? Something simple that a kid might be able to figure out?
Andreas Antonopoulos: This whole "what is ETH supply" thing is a silly gotcha that doesn't make much sense if you understand how Ethereum works. It's no better than the silly gotchas Schiff and Roubini level at bitcoin.
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Somebody should make a Bitcoin lightning ATM that accepts and dispenses quarters. Put them in laundromats, gas stations, and arcades. It would be a great way to grow the network and show off how fast the Bitcoin lightning network is.
And since it's so little value at once, they shouldn't be subject to AML laws. Somebody check me there. lol Plus this would be a great way for anonymous BTC, which means minors could buy Bitcoin lightning sats with their change instead of gumballs or whatever. Make the fees just enough to break even. Popularizing Bitcoin is worth far more than making ATM income. You might get too many quarters. Well, businesses are literally short on change. So you could probably get a premium on those quarters under the right circumstances. How would it work? Coin slot - quarters only, screen with instructions, indention with camera for scanning your QR code from your phone. You could add a button for batching. So if you want to buy $1.75 of BTC, you put in your 7 little quarters and hit the GO button. You don't even need a button. Just scan the phone when you're ready to withdraw the Bitcoin you paid for. You don't even need a screen, really. Just instructions: Test the speed of the Bitcoin lightning network for only a quarter. Put in quarters, scan QR code from your Bitcoin lightning wallet, get BTC. If QR code isn't scanned within 1 minute of last coin, your quarters are refunded. Don't reuse QR codes.
How can I make this "bitcoin geocache" project happen without letting wallets get imported?
I read an article about how people are hiding BCH wallets around San Francisco and had an idea for a cool project. I want to put stickers with private key QR codes around town and allow people to scan them when they find them and sweep the funds into their account. Kind of like some of the existing "bitcoin geocache" projects that are out there. But, I want the wallets to be re-usable, so that once a sticker is found, I can re-fund that wallet for the next lucky person. Sure, someone could keep a picture of the QR code and sweep it regularly, which is fine, but what I am worried about is people importing the wallets and getting notifications any time they are funded and immediately draining them. Is there a way to allow wallet sweeping but prevent someone from importing the wallet into their app? Does anyone see any other viable way I could do this? I'm hoping to fund the project with donations, was thinking I could have a public address and write some script or something to automatically distribute donations to random wallets around town. The idea is to spread awareness and educate locals about crypto by letting them find free money.
It's simple. You don't need a fees market for Bitcoin to be profitable for mining. Bitcoin is still in its infancy. The fee market will be great once the bitcoin's reward/block found is going to be too low. In my opinion, the only reason of the fees market so early on was to attack Bitcoin. It was to discourage the world and to make Bitcoin obsolete vs credit cards. The threat of a split from the big blockers was not really a threat because BTC would always remain more profitable thanks to the fee market. Another way to keep Bitcoin from scaling was with social media manipulation. You can see the result and how these people have done it on the most popular forums in the community. Thx to censorship. So what was the real reason for not expanding the blocksize limit? Was it to sell us a false promise with LN which would be a big hit in 18 months, or was it to make Bitcoin like gold so then it's not p2p money anymore which goes against white paper? Or was it to prevent flood spam, or was it to improve the decentralization of mining because raising the blocksize limit will be hard to be profitable if you are not big enough? Satoshi already said that he see miners as a huge server farm. Or maybe it was to sabotage Bitcoin? So because of these reasons, Amaury created the ABC software to change codes to raise the blocksize limit. He had the support from all the big blocks supporter. Finally, Bitcoin forked because Amaury and big blockers wanted a higher block size limit to make p2p money transactions faster and cheaper. The end result is that Bitcoin ABC from Amaury ended up as the loser with the chain with the least proof of work, the minority chain. Bitcoin Cash was created. Once Bitcoin Cash was created, everything was fine until some realized that the protocol was not stable. Amaury from ABC has always acted like a dictator and he's always right, he can change the protocol code as he sees fit. On the other hand, it is thanks to people like him that Bitcoin Cash exists after all. Several ABC supporters did not like the idea of a hardfork every 6 months. It was written in the sky that Bitcoin Cash would be easy to attack. It was obvious that malicious people would find it easy to attack the chain. It is somewhat for this reason that CSW created Bitcoin Satoshi Vision. This was to ensure that the Bitcoin protocol was set in stone and also to delete the blocksize limit so that there would never be a fight over it again. Bitcoin BSV is exactly as Bitcoin is described in the white paper. It is now impossible to split BSV, it's now untouchable. With the drama that is going on with ABC and BCHN now, this is not something that surprises BSV supporters. It was written in the sky that there would be another chicane and that another split was inevitable. It is for these reasons that I chose BSV. I'm glad I made the right choice. I'm not saying I'm right either. If you trust a certain conspiracy, everything is orchestrated by bad bankers who want the destruction of p2p money. How? Make Bitcoin obsolete by creating a problem by limiting the blocksize to a low value to make transactions expensive and slow. It was enough to split to divide the community. But that wasn't enough. Split the community a second time by creating other problems and why not a third time(ABC vs BCHN) by creating more and more problems. If this version is true then you might as well throw in the towel because Bitcoin is definitely a failed experiment. They clearly won. Discuss
Am I correct in thinking that, when mining bitcoin, only one miner in the world will gain bitcoin from verifying each block in the blockchain? How could this realistically make anyone a profit?
As I understand it, the hard part of mining bitcoin isn't in verifying the transaction, it's in being the first to find the hash equal to or lower than the target hash. If there are millions of miners all over the world looking for that hash, including giant, multiple-building farms, and only one block is added to the blockchain every 10 minutes, how could anyone mining from home hope to make any profit at all? Would you not just be losing stupendous amounts of money on gear and electricity and always be losing the 'hash race' to someone out there with a more powerful computer? I know and appreciate that people do this purely as a hobby and not always to make money, but I can't see how you could ever make money at all when competing with factory-sized water-cooled farms in China. I presume there's some key point I'm missing that will make everything instantly clear but I can't find it in any other explanation. Also (side question) if it is true that in order to solve the numerical problem you need to find the hash lower than or equal to the target hash, and there's no extra reward for being the closest, only for being the first, why would you not just guess the lowest possible hash every time? thank y'all
Is it easy to make payments via bitcoin? How about you all?
I've tried several payment systems to make it easier for the kratom business that I'm running in Indonesia right now. I use PayPal, Western Union, Moneygram, Transferwire. Have you ever used bitcoin to pay for kratom purchases online? Can the money that has been transferred be cashed immediately?
What happens to BCH sent to Bitcoin P2SH Segwit Addresses + how Bitcoin Cash miners have automated tools to steal these funds from newbies... What to do (and avoid doing) if you make this easy mistake...
This is what I get for putting trust into an app based bank. This has been happening to people all over who purchase Bitcoin, they just go ahead and claim that your transfers and purchases were in some violation??? How the hell does that make sense to begin with.
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