10 Years On, Laszlo Hanyecz Has No Regrets About His $45M ...
10 Years On, Laszlo Hanyecz Has No Regrets About His $45M ...
Ten Years Ago, One Man Paid 10K Bitcoin for 2 Pizzas; Now ...
Bitcoin Pizza Day: Celebrating the $80 Million Pizza Order
Bitcoin Pizza Day: Celebrating the Pizzas Bought for ...
Man Who Spent the Equivalent of $800 Million in Bitcoin on ...
CryptoSobStories - You could be a millionaire by now
You bought a Pizza for 10,000 BTC? You lost big in a collapsed exchange? You sold a shitcoin with loss to see how it exploded the next day? You missed 1000+1 occasions? You sold your retirement money for the biggest cryptoscam in history? You are not alone! Share your story and find relief from your fellow cryptosobbers! Found stories are also fine.
You made it! :) First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes). This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn). This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally. "The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay" Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment. Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations. Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA). “The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.” More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin. Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets. AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money. “After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.” Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders. Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest! If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them. Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel See you soon!
🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S. Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok. ... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
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:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here. On chain fees have risen recently due to network demand however instant micropayments are on the way via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet. You can even run a node on a Raspberry Pi :)
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
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.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor or Ledger is recommended. A more advanced option is to secure them yourself using paper wallets generated offline. Some popular mobile and desktop wallet options are listed below and most are cross platform.
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.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
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.
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.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
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)
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.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
1,000 per bitcoin
SI unit for milli i.e. millilitre (mL) or millimetre (mm)
1,000,000 per bitcoin
SI unit for micro i.e microlitre (μL) or micrometre (μm)
1,000,000 per bitcoin
Colloquial "slang" term for microbitcoin
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!
I don't expect the same sentiment from the veterans here, but when I saw the crowd stoning Peter McCormack for more than one Bitcoin quote, I remembered the first time I saw this transaction: Pizzas for 10000 BCH Even though I already knew how forks work, I was captivated. Sure, I knew BCH didn't just spring into existence at the time of the fork. Yes, I knew the whole history to that day is a BCH's history too. But it never occured to me you can honestly say that the guy bought pizzas for Bitcoin Cash. The other party can argue all they want, the statement is formally true :-) I also liked it when Bitcoin.com was showing the price of BCH as continuous line, even from before the BTC / BCH split. Anyway, I hope that more people realize the fact that BCH is rather a twin of its spoiled brother, and not a child, not a knock-off, as most were led to believe.
I learned tonight that an impersonator twitter account has been requesting to be sent back tips that I tipped them. So far looks like 15,000 coins have been absconded. I will never ask for coins to be returned. If I tip you, it is yours. Forever. I don't care if you hoard them, print them out into paper wallets that you cut up and and then eat for dinner, donate them to a charity, lose them gambling, build a massive pile of dogecoins from day trading the tip, or lose them when you reformat your windows. I tip because it is the way of the shibe... However, the person on Twitter running the scam literally does not have the spirit of dogecoin in them. They are what +goodshibe calls a Weasel. I am sorry if you have had coins scammed... message me on twitter and I will re-tip you. I don't care if I have to sell my very last Bitcoin, but I will make this right. What can the community do about this?
be cautious shibes
realize this is REAL money
Think. If you think it's a scam, it's a scam.
if someone asks you to return money it's probably a scam
Thank you, Eric Edit: To all the shibes who have tipped me. Thank you!
Happy Banano Pizza Day Australia! -- Buy Pizza now with Banano!
New reddit account so I don't dox myself.... Am a huge Banano fan, long time Raiblocks hodler Happy Banano Pizza Day Australia!!!!!!!! To celebrate 8 years since BTC pizza day, I am selling 2 fresh hot Pizzas for 10,000 Banano today! You can pickup anonymously from any of the 600+ Dominoes stores anywhere in Australia! Step 1, go into your Banano wallet. Step 2, send payment to ban_3z5d4o6arcpoqr5srmwfek4aawfu89bwkqnyic83rg6uffnzb9t5uwb67wyr Step 3, Send 10,000 Banano, Step 4, then enter the postcode for your Australian Dominoes store into the send price... for example Broken Hill would be 10000.2880 Step 5, enter the type of Pizzas you want, 1 for pepperoni 2 for ham and cheese, 3 for Vegetarian. So 2 veggie Pizzas to Broken Hill would be 10000.288033 Banano. **If you live in a postcode with multiple stores (like the CBD of Melbourne) you need to enter a final digit to let me know which store, 0 will be the first in alphabetical order, 1 the second, 2 the third. **** I don't intend to profit from this just having some fun, and showing that adoption can be simple and tasty! ***** I recommend you go in store when you order, so you can see your order come up on screen, it won't be instant, but you should have the pizza cooked an eaten before a Bitcoin payment would process!!! ****** I will try to refresh my wallet, but if you want to give a heads up for incoming on reddit that would help make it super fast!
The biggest hurdle in Bitcoin's history isn't going to be when it recovers from this recent drop or when it first broke $1000 or even when it first reached parity with the American dollar, but when it went from nothing to something. I like to think of this moment as when Laszlo bought his pizzas. Ever since, bitcoin has grown in value and all of it's growth has been organic and from the grass roots. Why did Jercos accept 10000 magic internet coins from Laszlo? Was it because he thought he could later trade them in for more value? or hold until moon for lambos? The ironic thing is that he could probably buy dozens of lambos today if he wanted to. At the time however, they were completely worthless with literally no real life users. People like Jercos supported bitcoin in it's infancy because it represented a completely new idea of money and one that is far superior. The problems that we are dealing with in bitcoin today are largely due to it's infancy; bitcoin and crypto is still too young and adoption is still growing. You can't expect bitcoin to take over the global financial market in under 10 years starting at 0 users. People like Jercos and Laszlo supported bitcoin when it had no monetary value because it represented an idea of decentralization, financial freedom and separation of money and state. The early supporters and innovators of bitcoin HODLed because they understood what bitcoin represents, what it could be and that any technical inadequacies can be later improved upon. This is reason why we have segwit, lightning network, hardware wallets and numerous new inventions and add ons. The biggest driver behind bitcoin's success is not the protocol itself but rather what it represents. Bitcoin is an idea, the real adoption is a psychological one. The real support levels of bitcoin are the innovators who are busy creating their idea of what bitcoin could be and the true believers who support bitcoin not for financial gain but rather because they are boycotting their current system. They are not going anywhere and neither is bitcoin.
Guys, we should start detailed planning for F*-day. Below is a very rough draft of the script for the upcoming bit-coin fork, as proposed by the Field Op managers at last week's meeting. Read it carefully and bring any suggestions etc. to the next meeting [Note 0]. Special Agents Neckbeard, SwampThing, NakaTuring, and BitSavior will be receiving additional details through the usual channel (if the backlog clears in time). All times are UTC of F*-day. You must all have received a Chinese fortune cookie at the Friday brunch with the date; please keep it secret. (Harry, the janitor says that you left yours on the table; please see him ASAP.)
02:12:23 Infiltrated relay nodes will activate the Utterly Absurd Soft Fork (UASF) filter, which will censor any block that does not vote for HalfWit. Every client that happens to be connected only to UASF relays will stop receiving the blockchain. That is estimated to disable 37% of all clients. At least 23% of them will ask for help on /bitcoin and /btc, and will get what they deserve.
03:00:00 Bit-coin Unhinged (BU) will be activated by the miners we bribed. The coin will then split into Bitcoin-Blokestream (BTC-B), with 1 MB blocks and 40% of the hashpower; and Bitcoin-Unhinged (BTC-U), with anyone-guess-the-size blocks and 60% of the hashpower.
03.08:47 All Chore-supporting relay nodes, even those that are not UASF-rigged, will refuse to propagate the BTC-U blockchain. About 8237 additional clients, who by then will have upgraded to BU-compliant wallets but will happen to be connected to Chore relays only, will be thoroughly confused. As a result, they will lose a few hundred coins in total, as payments will be reissued or sent to receivers who will have opted for BTC-B.
03:09:22 The reverse will happen to about 13255 clients who will still be running Chore-compliant wallets but will be connected to BU-compliant relay nodes only; with the same end result.
03:10:25 Another 25266 clients will manage to reach both BU and Chore miners. Their transactions will be confirmed randomly in the BTC-U chain only, in the BTC-B chain only, or in both chains, depending on how the coins are tainted. Since each of those clients will see only one chain, there will be more confusion and thus more coin loss.
04:12:14 Right after the split, the bitcoin price (assumed to be $2500, just for concreteness) will split neatly between the coins: BTC-U will get $400 and BTC-B will get $200. Of the remaining $1900 of value, 30% will be added to Ethereum (Classic and Punk together) and the other 70% will be split chiefly among Dash, Monero, Dogecoin, and PayCoin.
06:30:00 Coinhaze will take advantage of the confusion to confiscate all the Unhinged coins that correspond to their clients' BTC holdings (estimated to be about 100 k BTC-U). Coinfaze will send those coins to Buttfinex, and exchange them for 50 k BTC-B.
07:12:30 Our agents inside Buttfinex will perform another hack, like they did last time. Buttfinex will then shave another 20% off all client accounts -- including Coinhaze's, which will be reduced from 50 k BTC-B to 40 k BTC-B.
08:55:00 The BTC-B chain, with its capacity (block rate) reduced to 40% of the pre-fork level, will develop a huge backlog. The BTC-B price will drop to $25. Rush to dump by ancient holders will make the backlog worse.
09:10:00 The 3rd floor manipulators will lift the BTC-U price to $500.
10:30:00 Coinhaze clients will threaten to sue the company to get their BTC-U out, forcing Coinhaze to buy back the 100 k coins that they just sold. The 40 k BTC-B they got from the sale will only buy 2 k BTC-U at the current prices, so they will have to spend another 46 million USD or 18.4 k BTC-B for that. They will opt for the latter, and announce a 18.4% haircut on all customer BTC-B accounts [Note 1].
11.05:30 A bug in the BU code, triggered by a block that was exactly 1'234'567 bytes long, will cause the BU blockchain to fork repeatedly after every 5 blocks. A patch to fix the bug will be distributed to miners at 12:03:45, and they will again converge on a single chain twelve minutes later. The multiple reorgs will cause another estimated 13221 clients to lose approximately 2450.00231557 BTC-B and 1337.00000001 BTC-U.
12:07:05 Seeing that BTC-U is not dead yet, Blokestream will put in action the "fire the miners" plan. Namely, they will create a new altcoin (that they will call "Bitcoin", but we all must insist on calling "GrogCoin" or BTC-G) whose proof-of-work will be based on the endgame of the 1975 Fischer x Karpov chess match and a 10000 x 10000 crossword puzzle.
12:07:23 Spammers are already scheduled to start issuing several MB of garbage transactions to the BTC-G chain at this time, even before the first block is mined. (Someone please remember to have a dozen pizzas delivered to the basement around lunch time.)
12:10:45 Several experts will warn Blokestream that the "fire the miners" move is totally unnecessary, since BTC-U, as a hard-forked chain, will be invisible to clients who are still running the Blokestream software -- and there is no sign that the mining majority will bother to sabotage the BTC-B chain. Blokestream will ignore the warnings, saying that the plan must be implemented because it is so clever, and besides the experts are CIA lackeys and their mothers have been seen standing at street corners at night. The experts will then leave the scene, stomping and slamming the door.
12:15:00 BitFurry's CEO, pretending to be incensed by the "fire the miners" move, will start his own fork of the blokechain, codenamed Bitcoin-Furry (BTC-F). The coin is expected to receive little interest, except in Biafra where Sergei Mavrodi has already been contracted to start a BTC-F based hyperponzi.
13:54:22 Blokestream will announce that 17 users (mostly their employees) have already downloaded the BTC-G version of the Chore client, and the first block of the new branch has been mined. It will barely make a dent in the spam backlog. Thus BTC-G will start out with a fully operational "fee market", with all its known benesses.
14:22:00 (plus or minus 17 minutes) Special Agent NakaTuring will make to several Blokestream employees an ofter that they could refuse, but, greedy bastards that they are, won't. Pretending to be enraged by their departure, Special Agent Neckbeard will fire everybody else at Blokestream, except the CSO.
15:18:09 As you all know, a high school student in North Corea (the country, not the subreddit) discovered last month that the 21.inc chip on the PiTato, while useless to mine BTC-B or BTC-U, can be exploited to solve large crossword puzzles incredibly fast. We have secretly delivered him a PiTato, which he is set to use to mine BTC-G. That will give him 98.5% of the total hashpower active for that chain. After mining 250 blocks, he will have enough BTC-G to buy a second PiTato from AlphaBay-NK, or a Mickey Mouse hat. He has been instructed to choose the hat, to avoid starting a bubble in the PiTato market.
Should we start using garlicoin for small, real world transactions with each other?
Maybe start a subreddit for selling items and services to show the exchanges that this coin is legit. Like, I'll write you a haiku for x garlicoin, or I'll pay y if you guild me. Maybe pay me z and I'll have a pizza sent to your house. You get the point: put it to use and see what happens. But never forget about that guy who bought pizza for 10,000 Bitcoin... http://www.businessinsider.com/bitcoin-pizza-10000-100-million-2017-11
Bitcoin Cash: Forked at Block 478558, 1 August 2017, For each 1 BTC you get 1 BCH Bytether: Cross fork from Bitcoin to Ethereum blockchain at block 478558, 1 August 2017. For each 1 BTC you get 1 BTH ERC-20 token. Bitcoin Clashic: Forked at Block 478558, 1 August 2017. For each 1 BTC you get 1 BCHC / BCL Bitcoin Gold: Forked at Block 491407, 24 October 2017, For each 1 BTC you get 1 BTG UnitedBitcoin: Forked at Block 498777, 12 December 2017, For each 1 BTC you get 1 UB. This coin has an blockchain explorer they did stole most of the bitcoins of previous owners in, can't be trusted . Bitcoin Diamond: Forked at Block 495866, 24 November 2017, For each 1 BTC you get 10 BCD Bitcoin Hot: Forked at Block 498848, 12 December 2017, For each 1 BTC you get 100 BTH Super Bitcoin: Forked at Block 498888, 12 December 2017, For each 1 BTC you get 1 SBTC BitcoinX: Forked at Block 498888, 12 December 2017, For each 1 BTC you get 10,000 BCX Oil Bitcoin: Forked at Block 498888, 12 December 2017, For each 1 BTC you get 1 OBTC Bitcoin World: Forked at Block 499777, 17 December 2017, For each 1 BTC you get 10000 BTW Lightning Bitcoin: Forked at Block 499999, 19 December 2017, For each 1 BTC you get 1 LBTC Bitcoin Stake: Forked at Block 4999999, 19 December 2017, For each 1 BTC, you get 100 BTCS Bitcoin Top: Forked at Block 501118, 26 December 2017, For each 1 BTC you get 1 BTT Bitcoin God: Forked at Block 501225, forked on 27th December 2017. For each 1 BTC you get 1 GOD Bitcoin FILE: Forked at Block 501225, forked on 27th December 2017. For each 1 BTC you get 1000 BIFI Bitcoin SegWit2X X11 Not to be confused with a previous fork SegWit2X with the same name. Forked at Block 501451, 28 December 2017. For each 1 BTC you get 1 B2X Bitcoin Uranium: Forking on 31st December 2017, For each 1 BTC you get 1 BUM. Bitcoin Pizza: Forking at Block 501888, 1st January 2018, For each 1 BTC you get 1 BPA Bitcoin All: Forking on 1st January 2018, For each 1 BTC you get 1 BTA. Referenced on steemit post. Bitcoin Cash Plus: Forking at Block 501407, Expected on 2nd of January 2018, For each 1 BTC you get 1 BCP Bitcoin Smart: Forking at Block 505050, 21 January 2018, For each 1 BTC you get 100 BCS Bitcoin Interest: Forking at Block 505083, 22 January 2018, For each 1 BTC you get 1 BCI Quantum Bitcoin: Forking on 28th January 2018, For each 1 BTC you get 1 QBTC Bitcoin LITE: Forking on 30th January 2018, For each 1 BTC you get 1 BTCL Bitcoin Ore: Forking on 31st January 2018, For each 1 BTC you get 1 BCO Bitcoin Private: Forking TBA in January 2018, For each 1 BTC you get 1 BTCP (also if you have 1 ZCL you get 1 BTCP) Bitcoin ATOM: Forking TBA in January 2018, For each 1 BTC you get 1 BCA
Bitcoin Cash: Forked at Block 478558, 1 August 2017, For each 1 BTC you get 1 BCH
Bytether: Cross fork from Bitcoin to Ethereum blockchain at block 478558, 1 August 2017. For each 1 BTC you get 1 BTH ERC-20 token.
Bitcoin Clashic: Forked at Block 478558, 1 August 2017. For each 1 BTC you get 1 BCHC / BCL
Bitcoin Gold: Forked at Block 491y407, 24 October 2017, For each 1 BTC you get 1 BTG
Bitcoin Diamond: Forked at Block 495866, 24 November 2017, For each 1 BTC you get 10 BCD
UnitedBitcoin: Forked at Block 498777, 12 December 2017, For each 1 BTC you get 1 UB
Bitcoin Hot: Forked at Block 498848, 12 December 2017, For each 1 BTC you get 100 BTH
Super Bitcoin: Forked at Block 498888, 12 December 2017, For each 1 BTC you get 1 SBTC
BitcoinX: Forked at Block 498888, 12 December 2017, For each 1 BTC you get 10,000 BCX
Oil Bitcoin: Forked at Block 498888, 12 December 2017, For each 1 BTC you get 1 OBTC
Bitcoin World: Forked at Block 499777, 17 December 2017, For each 1 BTC you get 10000 BTW
Lightning Bitcoin: Forked at Block 499999, 19 December 2017, For each 1 BTC you get 1 LBTC
Bitcoin Stake: Forked at Block 4999999, 19 December 2017, For each 1 BTC, you get 100 BTCS
BitEthereum: Forking on 21 December 2017, For each 1 BTC you get 3.940616 BITE
Bitcoin Top: Forked at Block 501118, 26 December 2017, For each 1 BTC you get 1 BTT
Bitcoin God: Forked at Block 501225, forked on 27th December 2017. For each 1 BTC you get 1 GOD
Bitcoin FILE: Forked at Block 501225, forked on 27th December 2017. For each 1 BTC you get 1000 BIFI
Bitcoin SegWit2X X11 Not to be confused with a previous fork SegWit2X with the same name. Forked at Block 501451, 28 December 2017. For each 1 BTC you get 1 B2X
Bitcoin Uranium: Forking on 31st December 2017, For each 1 BTC you get 1 BUM.
Bitcoin Pizza: Forking at Block 501888, 1st January 2018, For each 1 BTC you get 1 BPA
Bitcoin All: Forking on 1st January 2018, For each 1 BTC you get 1 BTA. Referenced on steemit post.
Bitcoin Cash Plus: Forking at Block 501407, Expected on 2nd of January 2018, For each 1 BTC you get 1 BCP
Bitcoin Smart: Forking at Block 505050, 21 January 2018, For each 1 BTC you get 1 BCS
Bitcoin Interest: Forking at Block 505083, 22 January 2018, For each 1 BTC you get 1 BCI
Quantum Bitcoin: Forking on 28th January 2018, For each 1 BTC you get 1 QBTC
Bitcoin LITE: Forking on 30th January 2018, For each 1 BTC you get 1 BTCL
Bitcoin Ore: Forking on 31st January 2018, For each 1 BTC you get 1 BCO
Bitcoin Private: Forking TBA in January 2018, For each 1 BTC you get 1 BTCP (also if you have 1 ZCL you get 1 BTCP)
Bitcoin ATOM: Forking TBA in January 2018, For each 1 BTC you get 1 BCA
Bitcoin BitVote (BTV): Forking at Block 505050, 21 January 2018, For each 1 BTC you get 1 BTV
After reading tiny snippets about Bitcoin all the time I decided to take a closer look at it ... and I was floored. Please don't get me wrong, I really really really want to love the concept, but it seems to be more or less unusable. There are some huge upsides to it: Built on mistrust, fixed amount of money, decentralized system, anonymity and so on. But my reality looked something like this:
I read about all the upsides. Sounds awesome, let's get rolling!
Client? Yes, there's a feature matrix, uh, let's just install the Qt client.
Oh great, there's my wallet and an address, this was easy. "Hey buddy, would you send me a tiny amount to test this?" - "Sure!"
What, synchronizing with the network? Just do whatever you want.
My buddy asked if I had gotten the money yet. I haven't.
After two hours: What does this thing do there with all the synchronizing? And where is the money?
Let's read up on the synchronizing. Oh, it downloads the blockchain. Wait, the whole thing? How big is it? Let's see, about 7GB. Let's have some fun with my slow internet connection and my small SSD!
Now let's read some more, can a buy a coffee here with Bitcoins? No. Okay, in the next big city? I can't find a location. Bummer.
Two hours later, the Qt client is still synchronizing? Jeez ...
Now as you might say, I should have read up on the details (blockchain!) before - but getting started seems to be a big hurdle for the non-geeks out there. Nothing like "get started in seconds!". Even I had some trouble grasping the concept, and I'm sitting in front of a computer for about two decades now. But wait, there's more! Since my connection is still under heavy load from the client, I could read up on all the things I have missed, and I found some inherent flaws:
The amount of money is limited, so there will be no hyperinflation. Awesome! But at the same time, there will be a deflation: The number of bitcoins is fixed, but the amount of money put into the system is rising and rising. So looking from a perspective of Bitcoins, you had to pay 10000 BTC for a pizza, but today you'll get one for less than 1 BTC.
Which brings me to the next point: The values are somewhat incomprehensible for "normal" people. Let's assume 1 BTC is worth $130. My coffee would cost about 0.01 BTC, that's a nice number. But as far as I know, the price is expected to go up and in some months my coffee could cost 0.001 BTC - great, now I have to talk about "Millibitcoins". Try explaining that to somebody who even has problems with the decimal places of regular prices ... I thought Bitcoins were all about micropayments?
And regarding that: Transaction fees. As somebody here in /Bitcoin wrote, if you get lots of very small transactions and try do move them together, it will be expensive to do so.
Here in the EU we have some strict regulations about money laundering, as far as I know there are similiar laws in the US. I have read about closed accounts because of small (!) Bitcoin transfers, some countries here still have no idea whether it is legal or not and so on ... so nobody will put money into a system which could be deemed highly illegal the next day.
Because of that, getting money into the system (and out again) is currently a little difficult. But as soon as its in there, it is easy to use - and I don't depend on a bank (I'm sure you've read about the Euro Crisis).
The system currently seems to be a giant speculative market: Buy Bitcoins low, sell them high, profit. For "real" transactions it is hard to use, especially because of the verification delay - as far as I understood, I could send $1 and it could be worth $2 when it arrives. This might be just a matter of time, but who will use a wildly fluctuating currency?
As already mentioned, the ever-growing blockchain might be okay for fast internet connections and big hard disks, but not for me. Even it is necessary, it sucks.
For me, Bitcoins could be an awesome form of worldwide, internet-based form of micropayments. The biggest market would be developing countries. But there are technical and legal barriers which push it into a corner for geeks who see conspiracies everywhere and want to crash the system ... which is exactly not what it should be. I read about Ripple, it seems to be a better alternative just because of the possibility for easy money exchanges - and it includes Bitcoin, too. So, is there something I just don't get yet? I get the impression Bitcoin is a great idea, but just the prototype for something better.
Is it really convinient to have a crypto currency as a payment system at a fast food food (or anywhere else for that mater) ?
Sorry if this comes accross as a noob question, I'm new to the space and still learning. As far as I know, OmiseGo is in talks with Mcdonalds Thailand and they want to incorporate the OMG token as a viable payment system. But does it really make sense ? The value of the token is so volatile so wouldn't they have to change the OMG price of a BigMac everyday ? Also another point is that everyone in the crypto space is betting on the value of the coin to grow exponentially, so would there really be any incentive to spend the money at all ? I mean we all hear the stories about people who regret it now that they bought a pizza for 10000 Bitcoins back in the day. Would OMG spenders regret buying a BigMac with some OMG if (as every OMG holder is hoping) the token's value explodes ?
Hi all, My memory's a bit foggy, but I recall mining a few Bitcoin back in the Early Days (2009-2010ish). At the time, there wasn't much to do with Bitcoins (recall the 10,000 BTC pizza), so after a week or so of tinkering (including moving some BTC to an early web-based Bitcoin wallet whose name escapes me just to see what transferring BTC was like) I quickly lost interest, uninstalled the Bitcoin Core software, and went on with my life. Recently, I've been tempted to see if that online wallet service (a) still exists and (b) if my early BTC are still there. However, I can't recall the name of the service and can only vaguely describe the web interface (extremely simple in operation, consisting of white or other light colors -- can you tell my memory sucks for this?). Is there some list of all the various early online Bitcoin wallet services? If so, where would one find such a list? Anyone remember any early such services that might not be on the lists? Thanks!
The first real-world Bitcoin transaction was 10,000 BTC for 2 pizzas. In today's value, 10,000 BTC is worth $194,943,763.00 USD.
This is the best tl;dr I could make, original reduced by 80%. (I'm a bot)
Bitcoin did away with the third party by publicly distributing the ledger, what Nakamoto called the "Block chain." Users willing to devote CPU power to running a special piece of software would be called miners and would form a network to maintain the block chain collectively. Not only did bitcoin's public ledger seem to protect against fraud, but the predetermined release of the digital currency kept the bitcoin money supply growing at a predictable rate, immune to printing-press-happy central bankers and Weimar Republic-style hyperinflation. Gavin Andresen, a coder in New England, bought 10,000 bitcoins for $50 and created a site called the Bitcoin Faucet, where he gave them away for the hell of it. Laszlo Hanyecz, a Florida programmer, conducted what bitcoiners think of as the first real-world bitcoin transaction, paying 10,000 bitcoins to get two pizzas delivered from Papa John's. On December 5, 2010, after bitcoiners started to call for Wikileaks to accept bitcoin donations, the normally terse and all-business Nakamoto weighed in with uncharacteristic vehemence. "The project needs to grow gradually so the software can be strengthened along the way. I make this appeal to Wikileaks not to try to use bitcoin. Bitcoin is a small beta community in its infancy. You would not stand to get more than pocket change, and the heat you would bring would likely destroy us at this stage."
Can this possibly be true? If you invested $100 when Bitcoin first came out, it would currently be worth $7.3M.
I remember hearing that the first Bitcoin sake was 10000 BTC for a pizza. Assuming a price of $10, this means that 1 BTC was worth $0.001, or 1/10 of 1 cent. If you invested $100, you'd receive 100,000 BTC. At today's exchange rate that would be $7.3M. Is this math correct? If so... damn... I wish I had heard about Bitcoin much earlier. If so, I'd probably be retired to some exotic corner of the world chilling on the beach all day.
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