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❓ASK What Is Bitcoin? START HERE!

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Most people seem to claim that Bitcoin was born on the 31st of October in 2008 by a group of people who took on the name of Satoshi Nakamoto. However, on the other hand, there is some that claim that Bitcoin wasn't born until the beginning of 2009. The exact date that Bitcoin was introduced to the world doesn't really matter, what matters is understanding what Bitcoin is.

What Is Bitcoin.jpg


When Bitcoin was introduced to the world by the group of people who created the currency they explained to everyone that this currency was known as a decentralized digital currency. They went on to claimed that it would allow people to send currency around the world in real time without the need of a third-party to perform the transactions. This meant that you no longer needed PayPal, Visa or even a bank to transfer currency anywhere in the world.

Bitcoin is actually separated into two separate components. The first component is the bitcoin-the-token that is actually a snippet of code that represents the ownership of the digital currency. You can think of this as a virtual IOU. The second component of Bitcoin is the bitcoin-the-protocol. This is the network that distributes and maintains all the ledgers of balances for the bitcoin-the-token. When you combine the two together, you now have Bitcoin.

Bitcoins are not a printed currency that you can take to a market to buy merchandise, but instead, they are a currency that is produced by computers worldwide that use a free software. As the concept started to grow and people started to invest in electronic currency people started to characterize this currency as a cryptocurrency.

The developers of Bitcoin explained the system as an electronic payment system that was based on mathematical proof. The idea behind Bitcoin was to produce a new means of exchange that was independent of any central authority. This gave people the chance to transfer currency electronically in a secure environment that used a verifiable and immutable way to complete the transactions.

The world still has no idea who actually developed Bitcoin. Some claim it was a single man that called himself Satoshi Nakamoto. While other indications show us that it was a group of software developers that came up with this idea and developed the program. The members of the group called themselves Satoshi Nakamoto.

Bitcoin has grown in popularity for the simple reason it is decentralized. No single institution or government controls the Bitcoin network. Instead, the network is maintained and controlled by a group of volunteer codes that are run on an open network. The network is maintained by groups of dedicated computers that are spread around the world.

Bitcoin has solved the double spending problem of electronic currencies. In the electronic fiat currencies that banks control the digital assets can be copied and re-used. Banks around the world have control over the traditional system. However, with Bitcoin no-one has control because the transactions are distributed by an open network.

With Fiat currency, a bank can print as many dollars, euros, yens or whatever currency they choose. There is an unlimited supply of Fiat currency that a bank has. The problem with this system is that banks can manipulate the value of this currency. This is a problem for the holders of this currency. They are the ones who bear the cost in the end.

The supply of Bitcoins is tightly controlled by an algorithm. Each hour a small amount of Bitcoin is produced. This will continue on until the cap is reached. Once 21 million Bitcoin has been produced it stops. The supply and demand of Bitcoin are very attractive. Since there is a cap on how many Bitcoins will be produced, but there is no cap on the demand of this currency. Therefore, as the demand grows so does the value of Bitcoins.

As an owner of Bitcoins, your identity is kept secret. There are no governmental agencies that need to verify who you are. Furthermore, there are no controls set in place demanding that you prove who you are when purchasing Bitcoins. Therefore, this makes the Bitcoin currency ideal for criminals, money-launderers, and terrorists. Your identity is kept a secret when making all transactions online.

Bitcoins are broken down into units. The smallest unit of a Bitcoin is called a satoshi. The Satoshi is one hundred millionth of a Bitcoin or 0.000000001. This Satoshi is worth around one-hundredth of a cent. The Satoshi conceivably enables microtransactions possible where traditional electronic money can't perform these types of transactions.
 
Update
Banks Going BTC

Germany based neobank N26 is going to enter crypto by accepting Bitcoin trading, this bank has a customer base of 7 million people in different European countries.

1674040009610.png
 
Update
Banks Going BTC

Germany based neobank N26 is going to enter crypto by accepting Bitcoin trading, this bank has a customer base of 7 million people in different European countries.

View attachment 229042
So there will be a rise in cryptocurrency soon. Banks immediately feel where the money is. Apparently they have some insider information and decided to launch a pilot project. Everything will be right as soon as possible.
 
So there will be a rise in cryptocurrency soon. Banks immediately feel where the money is. Apparently they have some insider information and decided to launch a pilot project. Everything will be right as soon as possible.
I think it is nothing like this, or maybe it is, but from my point of view I have been a client of N26 since it operates in my country and is totally digital, its direct competition is the Revolut bank that has been operating with cryptocurrencies for some time or another similarity that would be Vivid, I think it's more competition than insider information, they just don't want to be left behind
 
I think it is nothing like this, or maybe it is, but from my point of view I have been a client of N26 since it operates in my country and is totally digital, its direct competition is the Revolut bank that has been operating with cryptocurrencies for some time or another similarity that would be Vivid, I think it's more competition than insider information, they just don't want to be left behind
Thus, expanding the zone of influence of bitcoin, through the access of more people to operations with it.
The main thing is that the operations will be carried out. And that's good! And let them compete with each other as much as they like.
 
Another update on N26 👎

According to the information revealed by N26 Support, Cryptos in the bank are closed service, meaning Bitcoins cannot be transferred to other accounts, withdrawal is impossible.
 
Another update on N26 👎

According to the information revealed by N26 Support, Cryptos in the bank are closed service, meaning Bitcoins cannot be transferred to other accounts, withdrawal is impossible.
Then nothing is clear at all. Well, they will have bitcoins. And then what? Will they buy them, so that later they themselves can sell them at a higher price? Understood nothing.
Going to enter the crypto currency by adopting bitcoin trading! And it will not be possible to carry out operations with him, since this is a closed sector.
Maybe the translator didn't translate correctly. Something is wrong here!
 
@Terz17
Some people are suspecting this is due to EU's anti crypto policy, but some thinks this is the same way FTX scammed people, so N26 is also now suspicious. However the bank is real, and fiat withdraw works.
 
Then nothing is clear at all. Well, they will have bitcoins. And then what? Will they buy them, so that later they themselves can sell them at a higher price? Understood nothing.
Going to enter the crypto currency by adopting bitcoin trading! And it will not be possible to carry out operations with him, since this is a closed sector.
Maybe the translator didn't translate correctly. Something is wrong here!
Exactly, what I thought in revolut works the same, you can have the cryptocurrencies there and sell them in fiat currency but they cannot be withdrawn from there, it seemed to me that something here smelled bad, they are simply plagiarizing the competition
 
Exactly, what I thought in revolut works the same, you can have the cryptocurrencies there and sell them in fiat currency but they cannot be withdrawn from there, it seemed to me that something here smelled bad, they are simply plagiarizing the competition
Exactly! The question immediately arises, why do they need bitcoin then? Only for plagiarism of competitors! Something is wrong there. For more information, you should probably look at the bank's website itself. Although, if something changes, they themselves will write.
 
Exactly! The question immediately arises, why do they need bitcoin then? Only for plagiarism of competitors! Something is wrong there. For more information, you should probably look at the bank's website itself. Although, if something changes, they themselves will write.
The banks will realize that this will not benefit them because what cryptocurrency users want is to have access to that money and be able to withdraw it whenever they want, it is useless to have them blocked there to simply exchange it for fiat and nothing else, it is absurd
 
The banks will realize that this will not benefit them because what cryptocurrency users want is to have access to that money and be able to withdraw it whenever they want, it is useless to have them blocked there to simply exchange it for fiat and nothing else, it is absurd
Then it turns out that this bank has bought or is going to buy a certain amount of cryptocurrency for itself. Or maybe they want to increase their assets in this way, relative to which the capitalization of the bank will grow. What's going on won't be clear until more information is available.
 
Then it turns out that this bank has bought or is going to buy a certain amount of cryptocurrency for itself. Or maybe they want to increase their assets in this way, relative to which the capitalization of the bank will grow. What's going on won't be clear until more information is available.
Basically, think that they are going to allow you to trade with cryptocurrencies, but nothing more, simply, the spot does not count here, I don't know why, the spot is the most important thing in cryptocurrencies because it is the true asset, what use would trading be if it were not relative to a real asset? It's as if instead of saving physical gold they saved gold contracts, it's just nonsense
 
Basically, think that they are going to allow you to trade with cryptocurrencies, but nothing more, simply, the spot does not count here, I don't know why, the spot is the most important thing in cryptocurrencies because it is the true asset, what use would trading be if it were not relative to a real asset? It's as if instead of saving physical gold they saved gold contracts, it's just nonsense
That's why I say more information is needed. There are many ambiguities due to the fact that only two statements are made without any details. By and large, we don't care what they are going to do with their crypto assets, but it would be desirable to know where and from where the wind is blowing!
 
Bitcoin Touched 23K

The bulls of Bitcoin have gotten angry at all those who were enjoying it with the bears, mocking BTC with the claims of the end of crypto, and now the bitcoin bulls have bounced the bears.
 
Bitcoin Touched 23K

The bulls of Bitcoin have gotten angry at all those who were enjoying it with the bears, mocking BTC with the claims of the end of crypto, and now the bitcoin bulls have bounced the bears.
This is very good news! just wonderful! Although I think that the bears will still resist. But it won't be so important anymore. No matter what, growth has already begun. And I think the most impatient investors are already taking profits.
He would have gone up $20K more and pulled the rest of the cryptocurrency behind him so that he could start the mining rig. All in all it would be great!
 
This is very good news! just wonderful! Although I think that the bears will still resist. But it won't be so important anymore. No matter what, growth has already begun. And I think the most impatient investors are already taking profits.
He would have gone up $20K more and pulled the rest of the cryptocurrency behind him so that he could start the mining rig. All in all it would be great!
Yes, I believe the same thing that we still have some way to go down, although it may be that when we enter this new range we will lateralize for a while until we decide whether to go up or go down, everything will depend on the speech of the FED within a week and of the coming news
 
Today is Sabunir attempt day.
On January 24, 2010, Sabunir, a member of bitcointalk, offered to sell a picture for a desktop background for the then-current price of $1 (500 bitcoin).
Binance has reminded us of this.

20230124_172809.jpg
 
Yes, I believe the same thing that we still have some way to go down, although it may be that when we enter this new range we will lateralize for a while until we decide whether to go up or go down, everything will depend on the speech of the FED within a week and of the coming news
Undoubtedly, there will be more falls. But I think that we will not reach that low level. Maybe even with a slight increase, maybe some coin will be raised on the blockchain to enable physical mining.
Although I have a feeling that physical mining ends completely. Probably, with web 3.0, not only the Internet page will turn over, but also mining too. There will probably be some other principle.
 
Undoubtedly, there will be more falls. But I think that we will not reach that low level. Maybe even with a slight increase, maybe some coin will be raised on the blockchain to enable physical mining.
Although I have a feeling that physical mining ends completely. Probably, with web 3.0, not only the Internet page will turn over, but also mining too. There will probably be some other principle.
I don't know if physical mining will end because, as you already know, I don't have many notions about it, but many currencies still depend heavily on it and many mining companies are moving to renewable energy and reforming itself, so right now they don't plan to stop their activity because i think that they dont think that the POW is finished or what do you think about this?
 
I don't know if physical mining will end because, as you already know, I don't have many notions about it, but many currencies still depend heavily on it and many mining companies are moving to renewable energy and reforming itself, so right now they don't plan to stop their activity because i think that they dont think that the POW is finished or what do you think about this?
I can't say for sure, but that's how it feels! And there are more coins without blockchain, and some are switching to POS, and in some states they are beginning to fully recognize the cryptocurrency with acceptance for settlement.
Somehow the picture doesn't quite add up. But I think that even before the halving there will be many interesting events.
 

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