What is Bitcoin (BTC)? Bitcoin is the first decentralized digital currency. Basically, Bitcoin is a peer-to-peer payment system that is not tied to the economy of any country or to the central bank. All actions to issue new coins, process payments, and create accounts are done by equal, independent network participants. Bitcoin uses cryptographic methods to ensure the functioning and protection of the system, but at the same time, all information about transactions is documented on a virtual ledger called the Bitcoin blockchain, which is accessible for everyone to see. Nowadays Bitcoin is the most famous cryptocurrency in the world and the number one digital currency by market capitalization. by StealthEX
Bitcoin achievements and future plans
The latest most impactful news from around Bitcoin were the following: • Bitcoin halving took place on May 11, 2020. • Bitcoin developers move forward protocol enhancements through soft forks and activating Taproot. • Bitcoin is the most popular cryptocurrency investment for companies. MicroStrategy, a publicly-listed U.S. invested $425 million in Bitcoin. Square reportedly invested 1% of its portfolio into BTC, demonstrating strength in its long-term growth. • According to Chainalysis 11.4M Bitcoin are held as long term investment. • At block height 642,034 on August 3, a billion-dollar transaction took place where it only cost a small amount of 80 cents (0.0008034 BTC at 129.6 sat/vB). • Over $300,000 in bitcoin grants being raised to support open source development and seeing bitcoin out-perform the price of gold by 100% so far this year. There is no official roadmap of the Bitcoin project. But according to the official Twitter of the Bitcoin Core developer – John Newbery, in the near future, the Bitcoin team will focus on the Lightning Network. The Lightning teams working on c-lightning (Blockstream), Eclair (ACINQ), LND (Lightning Labs) and Rust Lightning will continue to develop the protocol.
Blomberg analytics says that Bitcoin’s foundation is firming for further price advances. “Considering normal maturation, about double the time frame from $1,000 to $10,000 would come in around 2025, for Bitcoin to potentially add another zero.”
Mike Novogratz (CEO of crypto merchant bank Galaxy Digital) hopes that BTC will reach $20,000 highs by the end of 2020. “This is the year of Bitcoin and if it doesn’t go up now by the end of the year, I might just hang my spurs.”
An entrepreneur John McAfee has attracted public’s attention with his bizarre Bitcoin price predictions for the year 2020. Twitter, by StealthEX At the beginning of October 2020, McAfee got arrested for tax evasion charges, so the crypto community probably will not see the end of this bet.
Famous derivatives trader and consultant, Tony Vays during an interview with IGTV noted his thoughts for BTC price: “Do we think we go as high as $100,000? I’m not willing to make that statement. For me, I would be happy if the next top was around $45,000, and that can happen quickly.”
Anthony “Pomp” Pompliano
The co-founder of Morgan Creek Digital Assets, Anthony “Pomp” Pompliano is sure that Bitcoin will continue to grow. “You know there are people who debate what the size of the gold market is but let’s just use easy numbers. Let’s say that it’s $8 trillion. That puts Bitcoin at, depending on how many are lost or stolen, $400,000 to $450,000 today. Do you think that Bitcoin is going to be the equivalent of the gold market? I don’t. It’s better. It’s going to capture more market.”
By the beginning of December 2020 BTC price will be $10,271.457 (-9.23%) per coin. TradingBeasts analytics thinks that by end of the year 2021 the maximum BTC price will reach $13,969.59 (+22.51%), while the minimum price could be $9,499.322 (-16.69%) per coin.
Wallet Investor Bitcoin price prediction
According to the Wallet Investor Forecast System, BTC is a good long-term investment. By the end of December 2020 Bitcoin could reach a maximum price of $15,339.20 (+34.51%) while by the end of 2021 its price can be $16,691.80 (+46.38%) per coin. So, is it profitable to invest in Bitcoin? According to Wallet investor forecast, the long-term earning potential can reach +12.47% in one year.
DigitalCoinPrice BTC price prediction
Based on DigitalCoinPrice forecast Bitcoin is a profitable investment.The BTC average price may grow up to $26,263.42 (+130.31%) till the end of December 2020. While by end of the next year the its average price will be around $23,736.09 (+108.15%).
CoinPriceForecast Bitcoin forecast
CoinPriceForecast thinks that Bitcoin price at the end of 2020 will be around $11,495 (+0.8%). By the end of 2021 BTC price will reach $15,603 (+36.83%) per coin. As you can see there are a lot of Bitcoin price predictions, but no one knows for 100 % what will happen with its price. One thing is for sure – if you are looking for the best platform to exchange cryptocurrency – StealthEX is here for you.
How to buy Bitcoin at StealthEX
BTC is available for exchange on StealthEX with a low fee. Follow these easy steps: ✔ Choose the pair and the amount for your exchange. For example, ETH to BTC. ✔ Press the “Start exchange” button. ✔ Provide the recipient address to which the coins will be transferred. ✔ Move your cryptocurrency for the exchange. ✔ Receive your BTC coins! Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected] The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision. Original article was posted onhttps://stealthex.io/blog/2020/10/15/bitcoin-price-prediction-2021/
Cane Island analyst Timothy Peterson thinks that Ethereum will lose at least half its price in the next 12 months. He points out that the price of the cryptocurrency at the moment is about twice as big as its "real" price calculated on the basis of the network value. Judging by this model, the price of Ethereum should rise only 30% per year. The average weighted ETH exchange rate is $406 now, it must go down to the range of $200-250 according to the prognosis.
Tone Vays: the BTC price will not go below $10,000 this year
Well-known crypto enthusiast Tone Vays worded his opinion that the bitcoin price would not get below $10,000 this year. He also added that he expected breaking the level of $20,000 in 2021 although we had doubted that earlier. "In the beginning of the year, I thought that even next year would be a struggle to break $20k. Now I think it's pretty likely that we'll break $20k next year", the analyst said. According to him, the price doubles the target during each next breakthrough. So after breaking through the level of $20,000, the bitcoin price may rise up to $45,000-50,000.
The bitcoin price will fly up to $20,000 in two months
Analyst Bitcoin Jack thinks. He noted an interesting regularity: the bitcoin price follows the moves of the gold price, but with some delay. The analyst points out that at the moment the BTC price is at the same point where gold was in July. If the trend persists, the cryptocurrency price will go up to $17,000-$19,000 in September, then it will get corrected to the zone of $15,000, and after that it will go to the point of $20,000. Bitcoin Jack supposes that, after testing the historic high in October, the price will quickly go down to the levels of $11,000-12,000. The trader emphasizes that the growth should already start in the nearest days.
Astroturf posts about 32 MB blocks by BMG (affiliated with faketoshi) are a ploy to distract you from the fact that Craig S Wright, Calvin Aire, SV, and Blockstream Core are attempting to divide and harm the BCH community.
SV is a divide and conquer play. Boycott any exchange or business that supports SV.
HEX is an ERC20 token that got propelled in December 2019. Hex is the main high-intrigue blockchain authentication of store. Positioning dependent on the exchange, HEX is the #3 application on the Ethereum. HEX cryptographic money keeps on having an effective first month. About 50K in Ethereum got changed into HEX coin, and over a billion dollars in Bitcoin got guaranteed. Richard Heart, Founder of HEX, expressed, "HEX is as of now a triumph with 10k in addition to clients, and it's increasing all the more consistently. The innovation works extraordinary, and I am exceptionally content with it," He further expressed, "We have an incredible network, which is delivering astonishing advancement and improvement. The biological system continues showing signs of improvement as every day passes." HEX is a Bitcoin-connected Investment Scheme, that clients will have the option to twofold their cash. "Gracious, it would appear that a trick, I realize that," says Richard Heart, the author of the questionable new cryptographic money HEX. Addressing Tone Vays' Bitcoin Law Review digital broadcast, he concedes that, "on the off chance that you don't investigate it, it would seem that each other trick." This is the thing that makes HEX one of a kind (Updated on December 14: trades, where HEX is accessible, have been included) HEX is "intended to increment in esteem quicker than everything else ever," and clients can gain enthusiasm of up to 369%, contingent upon the measure of HEX they stake. Does this sound unrealistic? All things considered, for some crypto specialists and observers it does. Various specialists either confirm that HEX looks suspicious or that it most certainly is a trick, albeit some point out that it isn't actually a Ponzi trick, regardless of appearances. How is HEX expected to function Here's a concise diagram of how HEX should function, as indicated by its own site. Singular financial specialists can acquire HEX by doing both of three things: 1) demonstrating they claim a specific measure of Bitcoin (BTC) by marking an exchange with their private key; 2) trading Ethereum (ETH) for HEX; or 3) alluding a companion. When clients have HEX, they are then urged to 'stake' the token (for example keep it secured a keen agreement). This wins them intrigue (paid in HEX), which changes relying upon to what extent they keep their HEX staked and the amount of the general inventory of HEX is staked by all clients. "HEX pays stakers swelling," organizer Richard Heart discloses to Cryptonews.com. "After day 353 HEX has all things considered 3.69% swelling, and it's postponed as it's just paid toward the finish of a stake, and stakes can be as long as 5,555 days in length." The HEX site makes reference to that keeping an extent of HEX staked will expand the estimation of unstaked HEX. The thing is, there's no basic rationale, instrument or power by which unstaked HEX procures an incentive in any case. HEX important links: Website: https://hex.win/ Twitter page: https://twitter.com/HEXCrypto Facebook page: https://www.facebook.com/HEXcrypto Telegram page: https://t.me/HEXcrypto Github: https://github.com/bitcoinHEX Reddit page: https://hexcrypto.reddit.com/ Medium page: https://medium.com/hex-crypto/ Ann: https://bitcointalk.org/index.php?topic=4523610.0 Author information; Bitcointalk username: Tessyad Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2577720;sa=summary
Bitcoin 11 Years - Achievements, Lies, and Bullshit Claims So Far - Tooootally NOT a SCAM !!!!
That's right folks, it's that time again for the annual review of how Bitcoin is going: all of those claims, predictions, promises .... how many have turned out to be true, and how many are completely bogus ??? Please post / link this on Bitcoin (I am banned there for speaking the truth, so I cannot do it) ... because it'a way past time those poor clueless mushrooms were exposed to the truth. Anyway, without further ado, I give you the Bitcoin's Achievements, Lies, and Bullshit Claims So Far ... . Bitcoin Achievements so far:
It has spawned a cesspool of scams (2000+ shit coin scams, plus 100's of other scams, frauds, cons).
Many 1,000's of hacks, thefts, losses.
Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who "accept Bitcoin" immediately convert it into FIAT after the sale, or require you to sell your coins to BitPay or Coinbase for real money, and will then take that money. Some of the few who actually accept bitcoin haven't seen a customer who needed to pay with bitcoin for the last six months, and their cashiers no longer know how to handle that.
Contributing significantly to Global Warming.
Wastes vasts amounts of electricity on useless, do nothing work.
Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
It’s the first "currency" that is not self-sustainable. It operates at a net loss, and requires continuous outside capital to replace the capital removed by miners to pay their costs. It’s literally a "black hole currency."
It created a new way for people living too far from Vegas to gamble all their life savings away.
Spawned "blockchain technology", a powerful technique that lets incompetent programmers who know almost nothing about databases, finance, programming, or blockchain scam millions out of gullible VC investors, banks, and governments.
Increased China's foreign trade balance by a couple billion dollars per year.
Helped the FBI and other law enforcement agents easily track down hundreds of drug traffickers and drug users.
Wasted thousands if not millions of man-hours of government employees and legislators, in mostly fruitless attempts to understand, legitimize, and regulate the "phenomenon", and to investigate and prosecute its scams.
Rekindled the hopes of anarcho-capitalists and libertarians for a global economic collapse, that would finally bring forth their Mad Max "utopia".
Added another character to Unicode (no, no, not the "poo" 💩 character ... that was my first guess as well 🤣)
Provides an easy way for malware and ransomware criminals to ply their trade and extort hospitals, schools, local councils, businesses, utilities, as well as the general population.
~~Bitcoin is "striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. ~~, Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
"A bitcoin miner in every device and in every hand."
"All the indicators are pointing to a huge year and bigger than anything we have seen before."
"Bitcoin is communism and democracy working hand in hand."
"Bitcoin is freedom, and we will soon be free."
"Bitcoin isn't calculated risk, you're right. It's downright and painfully obvious that it will consume global finance."
"Bitcoin most disruptive technology of last 500 years"
"Bitcoin: So easy, your grandma can use it!"
"Creating a 4th Branch of Government - Bitcoin"
"Future generations will cry laughing reading all the negativity and insanity vomited by these permabears."
"Future us will thank us."
"Give Bitcoin two years"
"HODLING is more like being a dutiful guardian of the most powerful economic force this planet has ever seen and getting to have a say about how that force is unleashed."
"Cut out the middleman"
"full control of your own assets"
"reduction in wealth gap"
"cannot print money out of thin air"
"Why that matters? Because blockchain not only cheaper for them, it'll be cheaper for you and everyone as well."
"If you are in this to get rich in Fiat then no. But if you are in this to protect your wealth once the current monetary system collapse then you are protected and you'll be the new rich."
"Theres the 1% and then theres the 99%. You want to be with the rest thats fine. Being different and brave is far more rewarding. No matter your background or education."
"NO COINERS will believe anything they are fed by fake news and paid media."
"I know that feeling (like people looking at you as in seeing a celebrity and then asking things they don't believe until their impressed)."
"I literally walk round everyday looking at other people wondering why they even bother to live if they don't have Bitcoin in their lives."
"I think bitcoin may very well be the best form of money we’ve ever seen in the history of civilization."
"I think Bitcoin will do for mankind what the sun did for life on earth."
"I think the constant scams and illegal activities only show the viability of bitcoin."
"I think we're sitting on the verge of exponential interest in the currency."
"I'm not using hyperbole when I say Satoshi found the elusive key to World Peace."
"If Jesus ever comes back you know he's gonna be using Bitcoin"
"If this idea was implemented with The Blockchain™, it would be completely flawless! Flawless I tell you!"
"If you're the minimum wage guy type, now is a great time to skip food and go full ramadan in order to buy bitcoin instead."
"In a world slipping more and more into chaos and uncertainty, Bitcoin seems to me like the last solid rock defeating all the attacks."
"In this moment, I am euphoric. Not because of any filthy statist's blessing, but because I am enlightened by own intelligence."
"Is Bitcoin at this point, with all the potential that opens up, the most undervalued asset ever?"
"It won't be long until bitcoin is an everyday household term."
"It's the USD that is volatile. Bitcoin is the real neutral currency."
"Just like the early Internet!"
"Just like the Trojan Horse of old, Bitcoin will reveal its full power and nature"
"Ladies if your man doesnt have some bitcoin then he cant handle anything and has no danger sex appeal. He isnt edgy"
"let me be the first to say if you dont have bitcoin you are a pussy and cant really purchase anything worldwide. You have no global reach"
"My conclusion is that I see this a a very good thing for bitcoin and for users"
"No one would do such a thing; it'd be against their self interests."
"Ooh lala, good job on bashing Bitcoin. How to disrespect a great innovation."
"Realistically I think Bitcoin will replace the dollar in the next 10-15 years."
"Seperation of money and state -> states become obsolete -> world peace."
"Some striking similarities between Bitcoin and God"
"THANK YOU. Better for this child to be strangled in its crib as a true weapon for crypto-anarchists than for it to be wielded by toxic individuals who distort the technology and surrender it to government and corporate powers."
"The Blockchain is more encompassing than the internet and is the next phase in human evolution. To avoid its significance is complete ignorance."
"The bull run should begin any day now."
"The free market doesn't permit fraud and theft."
"The free market will clear away the bad actors."
"The only regulation we need is the blockchain."
"We are not your slaves! We are free bodies who will swallow you and puke you out in disgust. Welcome to liberty land or as that genius called it: Bitcoin."
"We do not need the bankers for Satoshi is our saviour!"
"We have never seen something so perfect"
"We must bring freedom and crypto to the masses, to the common man who does not know how to fight for himself."
"We verified that against the blockchain."
"we will see a Rennaisnce over the next few decades, all thanks to Bitcoin."
"Well, since 2006, there has been a infinite% increase in price, so..."
"What doesn't kill cryptocurrency makes it stronger."
"When Bitcoin awake in normally people (real people) ... you will have this result : No War. No Tax. No QE. No Bank."
"When I see news that the price of bitcoin has tanked (and thus the market, more or less) I actually, for-real, have the gut reaction "oh that’s cool, I’ll be buying cheap this week". I never knew I could be so rational."
"Where is your sense of adventure? Bitcoin is the future. Set aside your fears and leave easier at the doorstep."
"Yes Bitcoin will cause the greatest redistribution of wealth this planet has ever seen. FACT from the future."
"You are the true Bitcoin pioneers and with your help we have imprinted Bitcoin in the Canadian conscience."
"You ever try LSD? Perhaps it would help you break free from the box of state-formed thinking you have limited yourself..."
"Your phone or refrigerator might be on the blockchain one day."
The banks can print money whenever they way, out of thin air, so why can't crypto do the same ???
Central Banks can print money whenever they way, out of thin air, without any consequences or accounting, so why can't crypto do the same ???
It's impossible to hide illegal, unsavory material on the blockchain
It's impossible to hide child pornography on the blockchain
All Bitccoins are the same, 100% identical, one Bitcoin cannot be distinguished from any other Bitcoin.
The price of Bitcoin can only go up because of scarcity / 21 million coin limit. (Bitcoin is open source, anyone can create thir own copy, and there are more than 2,000+ Bitcoin copies / clones out there already).
immune to government regulation
"a world-changing technology"
"a long-term store of value, like gold or silver"
"To Complex to Be Audited."
"Old Auditing rules do not apply to Blockchain."
"Old Auditing rules do not apply to Cryptocurrency."
Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
2013-11-27: ""What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar [27-Nov-2013], services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
2018-12: Listen up you giggling cunts... who wants some?...you? you want some?...huh? Do ya? Here's the deal you fuckin Nerds - Butts are gonna be at30 grandor more by next Christmas  - If they aren't I will publicly administer an electronic dick sucking to every shill on this site and disappear forever - Until then, no more bans or shadow bans - Do we have a deal? If Butts are over 50 grand me and Lammy get to be mods. Deal? Your ole pal - "Skully"u/10GDeathBoner, 3-Feb-2018 https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/
2018-12: "Bitcoin could be at$40,000by the end of 2018, it really easily could", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 21-Sep-2018, https://www.youtube.com/watch?v=6lC1anDg2KU
2018-12: Bitcoin will end 2018 at the price point of$50,000, Ran Neuner, host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia,https://www.bitcoinprice.com/predictions/
This American analyst, co-founder of Fundstrat and exchange expert from Wall Street, was one of the first to see the potential in the blockchain and Bitcoin. He believes that the offer of BTS after halving will be reduced, which will lead to a “bull run” and an increase in the price of BTS to $ 40 thousand during the year.
2. Scott Melker
The TexasWest Capital crypto trader, analyst, and author of Cointelegraph, is restrained in his predictions. He explores the relationship between the cryptocurrency market and traditional markets. Melker advises everyone who believes in a significant price increase to be careful: if you buy, do it little by little. He does not speak directly about the change in the price of Bitcoin after a halving. But in one of his foggy tweets, written at the end of April, he says that he bought some more BTC.
3. Tone Vays
An analyst who does not recognize any cryptocurrencies other than Bitcoin. Previously, he spoke restrained about a slight increase in BTC price 6 months before the halving. Overall, Tone Vays is known for his balanced approach. He admits an increase in the price in the long term to $100 thousand but does not deny the rollback of the course in the short term. In his new stream, he noted that in order to forecast further price increases, it is necessary for BTC to overcome the $9 thousand mark in the short term. However, he does not particularly rely on this, since there is a strong market resistance at the level of $8 thousand.
4. Nicholas Merten
This strategic analyst also predicts the BTC price increase. He sees a steady “bullish momentum” and a methodical price movement to the above-mentioned mark of $9 thousand. Moreover, he recalls the volatility of the course. After the halving, Merten expects a small change in positions, a possible delay in prices at the level of $ 7-7.5 thousand, but the growth trend will remain.
5. Bobby Lee
Co-founder of BTCChina — the first cryptocurrency exchange in China, and a member of the board of directors of the Bitcoin Foundation. In April 2020, he was interviewed by the Cointelegraph. He predicts a price increase in May to $10 thousand, and by the end of the year — to a record high of $25 thousand. According to Lee, investors prefer to protect assets through the purchase of Bitcoin, which increases the price. Earlier, Bobby Lee suggested that by 2028, Bitcoin will cost $500 thousand and will be more capitalized than gold.
Us Senate Bill S.1241 to criminalize concealed ownership of Bitcoin
On November 28, 2017, the US Senate, Committee of the Judiciary held a hearing regarding bill S.1241: Modernizing AML Laws to Combat Money Laundering and Terrorist Financing. Despite little attention being given to digital currencies during the hearing, bill S.1241 itself would amend the definition of ‘financial institution’ in the United States Code to include digital currencies and digital exchanges. This could have alarming consequences for users of cryptocurrencies both in the US and abroad. Bill S.1241 would amend the definition of ‘financial institution,’ in Section 5312(a) of title 31, United States Code, to include “an issuer, redeemer, or cashier of prepaid access devices, digital currency, or any digital exchanger or tumbler of digital currency.” Currently, the definition of ‘financial institution’ includes banks, trust companies, credit unions, currency exchanges, etc. In her introduction, Mrs. Feinstein, Ranking Member of the Judiciary Committee, said (31:35), “The bill criminalizes intentionally concealing ownership or control of a bank account.” Although, during the hearing, no further clarifications were given as to the effects this would have on the cryptocurrency community, based on the amended definition of ‘financial institution’, it seems clear enough that the bill would “criminalize [those] intentionally concealing ownership or control of a [digital currency or digital exchange] account.” Wow. Let this sink in for a minute… The US senate is proposing a bill to make criminals out of anyone intentionally concealing ownership or control of a digital currency or digital exchange account. What’s more, according to the hearing’s prolonged discussion of US law enforcement’s handling of foreign banks and financial institutions, this bill is certain to have far-reaching effects on not only US citizens but the global community as a whole. If the above statement describes you, it is strongly recommended that you watch the hearing with this new definition of ‘financial institution’ in mind. If you’ve already watched the hearing, watch it again, but this time replace all mentions of ‘banks and financial institutions’ with ‘digital currencies and digital exchanges.’ The implications are really rather alarming. Interestingly enough, Ms. Kathryn Haun Rodriguez, a Coinbase Board of Directors Member, made absolutely no mention of digital currencies or digital exchanges in her testimony; nor was she asked any questions pertaining to these topics. Conversely, in her July 2017 written testimony to the US House of Representatives Committee on Financial Services and Subcommittee on Terrorism and Illicit Finance, she stated that some users of digital currencies use them “to conceal and move illicit proceeds because of the perception that virtual currency is untraceable.” Also in her prior written testimony, she stated that “the FinTech industry could be a very helpful partner to the government in addressing national security concerns;” that “investigators like digital footprints and that is exactly what digital currencies provide;” and that “of course, we can only follow the money to an individual or group if they used a Regulated exchange, one that follows basic AML/KYC laws.” Advertisement Contrary to the bill itself, the hearing was noticeably lacking in references to cryptocurrencies; although there was some limited mention of such. Ms. Klobuchar (2:16:58): “Is this transition we’re seeing from cash to digital going to make it easier or harder for law enforcement to track these money laundering cases, and you think these drug cartels are gonna start going cash free, and what do you do about it?” Mr. John A. Cassara (2:17:15): “Senator, I’m just glad I had my career when I did because I don’t know what I’d do trying to follow the money when it comes to digital currencies, it’s extremely, extremely challenging…I think if you look at the metrics, the metrics suggest today [that] digital currencies are a small fraction of the threat that we face. That’s not to say it’s gonna be the case in 5-10 years from now. We’re right at a crossroads, and it’s going to be very, very interesting to see what goes forward.” Due to the probable negative implications for the global cryptocurrency community, hopefully the interpretation of bill S.1241 in this article is proven incorrect; however, at this point, it seems fairly clear (at least to me, the author) that this is the intent behind the bill. If this is indeed the case, it will be the most recent attack on a growing list of State-backed attacks against the crypto-community. Furthermore, from the noticeable lack of references made to digital currencies during the hearing, it would appear this bill is yet another underhanded attempt of the US Government to further erode global freedoms and civil liberties, which markedly began with the introduction of the Patriot Act, shortly after the 9/11 attacks. As Tone Vayes mentioned, it would have been nice if Andreas Antonopoulos was there to impart some of the wisdom he shared with the Canadian Senate, on October 8, 2014. Tone Vayes’ summation*: “It’s bad…I think it’s gonna end in a very confrontational way between Bitcoin—even Bitcoin holders and users—and the US Government.” Jimmy Song’s summation*: “Yeah, the nice thing about laws is they take a long time…” Indeed it will be “very, very interesting to see what goes forward.” If this bill passes, how many of you future criminals out there are still set on hodling? *to be fair, neither had yet watched the entire hearing. Full Disclosure: Landon Mutch is a contributor to the Lightning Network, a layer-two Bitcoin protocol, also BTCManager is scamming it’s writers and not paying them :(.
BTC is now pick 2 of 3: Low fees/Fast confirmation times/Security
In some recent comments Bitcoin Core supporters are telling people Lightning is optional and I agree. However if you think Lightning is optional then you limit your options even further when using Bitcoin. Based on today's current state of Bitcoin here are your options when using Bitcoin to send cash: 1) onchain Bitcoin with a low fee: Security + Low fee = Slow confirmation time 2) onchain Bitcoin with a high fee: Security + High fee = Fast confirmation time (So long as no one outbids you out of the block during times of high volume) 3) Lightning: Low fee + Fast transaction time(no confirmation as Lightning transactions are not confirmed onchain until you close your channel) = No Security examples of each is: 1) Tony Vays sent a Bitcoin transaction with a "low fee" of $0.25 that took 11 hours to confirm and probably would have taken longer if SlushPool didn't manually add his transaction. I'm being liberal with "low" because anyone using cash today does not pay $0.25 extra for a transaction to buy coffee. 2) Exchange withdrawals: Usually exchanges raise the fee several levels higher to ensure the confirmation goes through sooner than later. You've probably heard of /bitcoin users complaining about this, but this is just the cost of good business. Exchanges don't want users complaining about waiting 11 hours and creating unnecessary support tickets because Bitcoin is congested again. 3) Lightning has low fees and fast tx times, but until you close that Lightning channel that transaction is still unconfirmed onchain and anything can happen. This is why /bitcoin users recommend using watchtower services to secure your Lightning funds, as someone must always be watching over your funds to prevent them from being stolen. If you stay offline for too long your funds may be stolen. Until your close your LN channel your must check in on your Lightning funds periodically to defend against theft attempts as you become the security of your funds, not the Bitcoin blockchain. So this is the convoluted state of Bitcoin today. A Rube Goldberg vision of p2p digital cash where first you must decide on your priorities and only then then transfer funds between Bitcoin or Lightning as necessary before deciding to send someone cash. Not very frictionless cash is it... Or you can just use Bitcon Cash which has none of these complications and just works. edit1: Bitcoin.org acknowledges the Bitcoin's degradation of utility as well: https://www.ccn.com/wp-content/uploads/2018/01/Bitcoin.org-Transaction-Fees-1024x555.jpg
I read a few tweets by Roger suggesting that if you believe in bitcoin cash and want it to be money for the world, do your part by trading bitcoin cash on local.bitcoin.com I figured I'd do just that. I have a sizeable amount of bitcoin cash, I'm always buying more through an exchange - so might as well open things up to 50-200$ trades, see where that goes. The setup was super easy, very convenient and I posted my price as 7% above Kraken. My prefered method of payment was e-mail money transfer for its simplicity. I almost instantly had offers, but trades seemed to happen much much faster then I had expected. If someone made you an offer and you didn't respond or fund the escrow within the hour they'd cancel the offer - so I had to be responsive and quick in order for a deal to go through. Since I didn't want to permanently sell my BCH I essentially funded my exchange account with cash, and then would buy more BCH at roughly the same time as I was making a trade, so essentially I'm hoping to make that 7% gain without losing my crytpo which turns into a decent deal. I had enough activity that I started planning that I'd need quite a bit of liquidity in the exchange in order to be able to keep up with demand. Then this morning things got weird as I was not able to receive e-mail money transfers, and this happened on multiple deals - it turned out my bank stopped accepting e-mail money transfers for me. They won't tell me why, and they swear it's not some sort of global block on my account. I used another bank and now I think I'll need to come up with other methods of payment.. This is exactly why local.bitcoin.com has to exist, this is exactly why bitcoin exists - Today I ask my bank for the priveledge to let me receive money. I need permission to receive 50$ for selling someone a car part at a garage sale - or selling them an entry on a public ledger, that is sad and disgusting. Tomorrow they'll hassle me because of my religion or my social views... To all those in the BTC camp who think paypal and credit card are better then BCH - to Tone Vays who thinks the Bolivar is better then BCH--Running your own node is not what empowers the bitcoin user, it's owning your own keys that is.
Der Bitcoin-Maximalist Tone Vays lässt den Bären heraushängen: Mehr als 10K seien für den Bitcoin-Kurs dieses Jahr nicht mehr drin. Investment-Guru Jim Rogers entwirft ein noch schwärzeres – beziehungsweise röteres – Szenario: Alles geht auf Null. Das Meinungs-ECHO. Wenn es nach dem Bitcoin-Experten Tone Vays geht, muss die Bitcoin-Rakete noch eine Weile im Hangar bleiben. Der Bitcoin-Maximalistisk Tone Vays leser den Bären heraushängen: Mehr als 10K seien for den Bitcoin-Kurs dieses Jahr nicht mehr drin. Investerings-guru Jim Rogers svever en enda sværere - beziehungsweise röteres - Szenario: Alles geht auf Null. Das Meinungs-ECHO. Wenn es nach dem Bitcoin-Experten Tone Vays geht, muss die Bitcoin-Rakete noch eine Weile im Hangar bleiben. Tone Vays said that Bitcoin is on the verge of a breakout. Wall Street veteran and crypto strategist Tone Vays said that Bitcoin is likely on the verge of a breakout as the king coin flashed some bullish signals on multiple timeframes. He said that BTC is poised to break resistance as $12k, which has already happened, and this is the thing that marks a historic milestone on the weekly chart ... Expert Tone Vays Says Bitcoin's Next Bull Market Could Bring A Lot More Spending Of Bitcoin Bitcoin Exchange Guide News Team - December 17, 2018 0 Everyone in the virtual currency market is expecting a new bull run in the near future, but which characteristics will have is still a... Tone Vay has for long been discrediting the performances of other crypto assets.The maximalist believes there is no reason for other cryptos to exist when Bitcoin has already taken the lead. This time, Tone Vays condemnations centered responding to a statement by Bitrue exchange that it intentionally built the exchange around XRP, and has since been ripping the fruits.
Tone Vays on bitcoin (btc) - blockchain and pumping – NJ crypto news
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