Bitcoin Gift Cards Bitcoin For Giftcards Mybitcards

Bitcoin Weekly 2015 June 17: Gyft blockchain gift cards, Coinbase Instant Exchange, Kraken dark pool trading, and more

submitted by Usernamemeh to Nanoeconomics [link] [comments]

Weekly Round Up: Gyft signs up Walmart, IRS considers Bitcoin property and Vietnam welcomes its first exchange

Weekly Round Up: Gyft signs up Walmart, IRS considers Bitcoin property and Vietnam welcomes its first exchange submitted by BTCNews to BTCNews [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

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.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
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.
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 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.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

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. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
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.

Bitcoin-Related Projects

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.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 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.
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!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

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.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For some more great introductory videos check out Andreas Antonopoulos's YouTube playlists, he is probably the best bitcoin educator out there today. Also have to give mention to James D'Angelo's Bitcoin 101 Blackboard series. Lots of additional video resources can be found at the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here, here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or 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.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
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.
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.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

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.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
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)

Bitcoin Projects

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.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 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!
submitted by BinaryResult to Bitcoin [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

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:
Also have to give mention to Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute. Bitcoin statistics can be found here, here and here. Developer resources can be found here, here and here. Peer-reviewed research papers can be found here. Potential upcoming protocol improvements here. Scaling resources here. The number of times Bitcoin was declared dead by the media can be found here (LOL!), and of course Satoshi Nakamoto's whitepaper that started it all! :)
Key properties of bitcoin

Where can I buy bitcoins?

Bitcoin.org, BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Gemini Bitstamp LocalBitcoins
Bitstamp Bitit Mycelium LocalTrader
BitFinex Cex.io LibertyX
Cex.io CoinMama WallofCoins
Xapo Spectrocoin BitcoinOTC
Kraken Luno BitQuick
itBit
HitBTC
Bitit
Bisq (decentralized)
Luno
Spectrocoin
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.
Android iOs Desktop
Samouari BreadWallet Electrum
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.
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.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for some good options, some of the more commons ones are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, Overstock, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Hyphen.to, Coinsfer, More #1, #2 Bill payment
Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

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.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Streamium.io, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
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)

Bitcoin Projects

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.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream, Rootstock and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 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!
submitted by BinaryResult to Bitcoin [link] [comments]

Get iTunes with bitcoin. Today, Gyft welcomes iTunes to the Gyft family. Apps, music, games, movies, and more

Get iTunes with bitcoin. Today, Gyft welcomes iTunes to the Gyft family. Apps, music, games, movies, and more submitted by mstevenson10009 to Bitcoin [link] [comments]

Gyft CEO Wants to ‘Tokenize’ Gift Cards on Bitcoin Blockchain as Colored Coins | Inside Bitcoins | Bitcoin news | Price

Gyft CEO Wants to ‘Tokenize’ Gift Cards on Bitcoin Blockchain as Colored Coins | Inside Bitcoins | Bitcoin news | Price submitted by nybe to Bitcoin [link] [comments]

Happening right now in Shanghai

Happening right now in Shanghai submitted by BeijingBitcoins to Bitcoin [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

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.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com is a very helpful site for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or 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.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
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.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, GreenmanGaming, and Coinplay.io For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, Rakuten, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg, TigerDirect and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

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.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
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)

Bitcoin Projects

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.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 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!
submitted by BinaryResult to Bitcoin [link] [comments]

eGifter partners with Coinbase and now accepts Bitcoin payments on over 100 gift cards, with no additional fees!

eGifter partners with Coinbase and now accepts Bitcoin payments on over 100 gift cards, with no additional fees! submitted by eGifterJon to Bitcoin [link] [comments]

Gyft allows any Android user to make a purchase at Amazon.com with Bitcoins -- Do you realize how huge this is??

submitted by pat_o to Bitcoin [link] [comments]

You've heard it before, Don't use Coinbase with Bitpay!

For the first time my girlfriend today made a payment with her coinbase account for a Gyft card for Amazon for some travel luggage. She snapped the QR code, payment sent, girlfriend said that was awesome... checked the blockchain 20 minutes later 5 minutes after it expired on Bitpay and it still has not gone through! Now I know that I must contact Bitpay support for when it confirms and the transaction goes through, but this is straight unacceptable. Is coinbase manually processing wallet payments or are they not connected to enough nodes? Payments from blockchain.info are instant for me. This needs to change, and we wont be making wallet payments through coinbase ever again, it will be used to buy bitcoins and to transfer to blockchain.info exclusively. I'm embarrassed to recommend bitcoin and the first experience is a failure :(
submitted by defconoi to Bitcoin [link] [comments]

New Retailer Alert: You can now spend Bitcoins at Hyatt Hotels with Gyft!

submitted by VinnyatGyft to Bitcoin [link] [comments]

I love the Gyft iPhone app. We just bought a cart full of groceries at Kmart...with Bitcoin. That's pretty damn cool!

I love the Gyft iPhone app. We just bought a cart full of groceries at Kmart...with Bitcoin. That's pretty damn cool! submitted by TheBitcoinWife to Bitcoin [link] [comments]

1. Turn fiat into Bitcoin. 2. Turn Bitcoin into Gift card. 3. Purchase goods. Live the future, today!

1. Turn fiat into Bitcoin. 2. Turn Bitcoin into Gift card. 3. Purchase goods. Live the future, today! submitted by TulipCoins to Buttcoin [link] [comments]

Save 20% at Starbucks when you turn your cash into Bitcoin with BitQuick and Fold

Save 20% at Starbucks when you turn your cash into Bitcoin with BitQuick and Fold submitted by bitquickco to Bitcoin [link] [comments]

Proof of Failure - "I'll get you next time Salty Roger" :-)

"actus non facit reum nisi mens sit rea"
Just under 7 days ago I posted the following SHA256 hash to both the BSV blockchain and BAB blockchain.
I actually posted at 2019-06-16 20:00:00 but it took some minutes (as you'll see I predicted) to appear in the next block of the aforementioned blockchains, thus remaining a permanent immutable record.
memo.sv post Block Time: 2019-06-16 20:38:22 Block Number: 587160
memo.cash post Block Time: 2019-06-16 20:29:44 Block Number: 587318
This is verifiable proof that I held the plaintext to make this hash on that date. The hash as you can see is which is a SHA256:-
52f42a5a4c073a2a14ed76e5a1d356c4586e6f2dea2a91d9a3dcf5f57799442e
Just after posting to the blockchain this hash, I sent private messages to 3 members of this subreddit with the following text, and thus this is the reason why I am now forced to reveal the hash, as I expect them to take my words seriously.
It doesn't matter in the grand scheme of things (as all I did is cryptographically proven) that I did this, however I wanted to so I would be forced to reveal the plaintext within 7 days. I won't name them, but if they want to confirm that they did indeed receive this message then I'll leave that up to them.
Hi guys. Look I am doing something kinda funny here, but for now needs to be secret. Here is a SHA256 hash, write it down!
"52f42a5a4c073a2a14ed76e5a1d356c4586e6f2dea2a91d9a3dcf5f57799442e"
If I don't reveal what plaintext is the source of this hash within the next 7 days then it means I am a fraud, and I am not to be trusted and I request I am permabanned from the subreddit, and all communications with me should cease.
This hash has been published on both the BSV & BAB blockchains as a memo message, as proof it wasn't created after the time it appears in the blockchains, and proof of immutability of content.
You can see it here (BSV):- https://memo.sv/profile/1gr5whAEV4ffA6df71JTdQ7gSNQWTkgnm Or here (BAB):- https://memo.cash/profile/1gr5whAEV4ffA6df71JTdQ7gSNQWTkgnm
And timestamp will be a few seconds or minutes after timestamp below, as and when message gets confirmed in next block on each respective chain. PoW!
If I happen to be banned from reddit in the meantime don't worry as hash reveal will take place on these memo channels within 7 days.
If this works you're all gonna LOL real hard cause it will cause one big massive social media shitstorm! And we all know the only way to destroy a PoSM shitcoin like BAB is with social media!
Cheers fellas! jim-btc 2019-06-16T20:00:00Z End of message.
I actually sent it to them as an image
This is all those 3 members have seen, and all 3 have confirmed, one with "I'll be watching" another with a "LOL" type response and another with a rather concerned "what's this?" type response. I gave them no further information - so now all reading this post know exactly the same about this all as they do - which is basically nothing, other than this hash 52f42a5a4c073a2a14ed76e5a1d356c4586e6f2dea2a91d9a3dcf5f57799442e must be something interesting.
So what was the plaintext behind this hash? What does it have to do with Salty Roger?
Well I'm gonna take some inspiration from Dr. Craig S. Wright here to add some tension... I still have a few hours to reveal the plain-text, which is in fact a computer program. We shall all see.
UPDATE
OK here it is: https://gofile.io/?c=FsGtJD
Go check that SHA256 hash.
Here's the code:
#!/usbin/env python # bab-destroy.py # Should work in Python2.7 & Python 3.x # Author: jim-btc # If you change any character in this code (including newlines so careful # Windows users - it will fail to reproduce the excercise! # This is BAB Destroy. Some code designed to make Salty Roger Ver, head of # Bitcoin Cash (BAB) look very stupid and get owned by cryptohashes once again. # # The BABies (that's users of said coin) seem to spout the mantra "Code is Law" # so I thought what better way to own them all than by using some code to do # it! # Purpose of this program is to generate a fake (unspendable) Bitcoin address # and to hash various messages. Hash for this program (hence the entire process # in the pwnage of Salty Roger will be published on both the Bitcoin Cash (BAB) # and Bitcoin (BSV) blockchains as "proof-of-LOL" so what I am doing here can # easily be verified as non-illegal and non-fraudulent *after the event* by # simply running this code and verifying all messages/hashes produced - to # replay the sequence of events as it were. # # A non-spendable address is used to demonstrate even if Roger was dumb enough # to send BTC that it is the equivalent of burning money - i.e. nobody can # benefit. Also for any legal eagles reading allow me introduce some Latin: # "actus non facit reum nisi mens sit rea". Interesting case study to be made # perhaps regarding blockchains as immutable evidence. # The idea is the following happens:- # # 1) Hash of this program code is published on BAB & BSV blockchains to proove # timestamp that this effort was started, using memo.cash / memo.sv # # 2) A few community memebers from Bitcoin (BSV) subreddit are sent a hashed # message stating that there is a hash on BAB/BSV blockchain and if I don't # reveal how to make it within 7 days then I am a fraud, a scammer and should # be removed from the community - this is to ensure nobody can claim the # argument "jim-btc was just testing to see if Roger would pay" and to # ensure revealing of this code regardless of the outcome. # # 3) Roger recieves a message from me basically stating "Pay me 1BTC and I will # stop attacking your coin and community and work for you attacking BSV". # # 4) Roger publishes this message on /btc (or /npc as it's better called) # and tries to state that jim-btc is a scammer, and possibly that this is # a scam/community atack by the entire community of BSV. The idea is that # Roger basically publisizes this for maximum effect so when the truth is # revealed his own publicity owns him. An alternative (but very unlikely) is # that Roger sends 1BTC to the address - where I then publish this entire # message chain to prove (once again) that Roger is an idiot and has no # problem employing sockpuppets for nefarious purposes and has just burned 1BTC # for his very silly efforts! Remember if he sends any funds there - I cannot # spend it as you see that the public address has no corresponding private key. # (it's a fake address). # # 5) Bonus LOLpoints will be rewarded if this news makes it to Roger's Twitter # account and/or his news.bitcoin.com website as some sort of proof that # "criminal blackmailers are attempting to destroy BAB" or the now famous # classic quote they use "It's an attack" as they keep needing to invent a # common external enemy like Orwell's 1984 as some way for cohesion in their # destroyed and rotten "community". It is expected that as Salty Roger loves to # play victim he shall play victim to maximum effect. Let's hope so! # # 6) Program code is revealed. Orignal hash on BAB/BSV blockchains is shown as # matching the hash of the program code. Roger looks dumb, all BABies are # awakened as to just how easy it is to attack a PoSM (Proof of Social Media) # shitcoin such as Bitcoin Cash (BAB). The crypto world laughs, lawyers debate # the legality of this all - everyone is confused but most agree Roger has once # again proved he knows nothing about crypto and is easily spoofed. # # People read this program code and these comments and find out just how bad # things are with BABcoin. They sell the idea of "decentralized development" # when in reality Amaury Sachet (ABC node developer) bans Andrew Stone, LEAD # developer of Bitcoin Unlimited from any meetings. It also encourages BABies # to look at the ideas floating around in the dev community - such as spending # funding money on developer get-togethers when clearly the fundraising they # are doing is supposed to be paying for developers to develop. People are # encouraged to look into the transparency of all fundraising and realise that # this is not a sustainable model for a anti-business coin such as BAB. # # Once again I'd ask people to seriously debate the difference and the # narrative:- # # "Satosh added checkpoints to Bitcoins source code - checkpoints are OK" # -- the BAB narrative # # The reality:- # These checkpoints were added days/weeks/months after the blocks were mined # for pretty obvious reasons. # Amaury Sachet (shitlord dictator of ABC) added them within ~10 minutes of # blocks being mined and colluded with exchanges to use this special software # within minutes. That is not fair competition, this is not PoW. That is a PoSM # shitcoin and shall be destroyed - only way to do it is with social media! # # This program is dedicated to unwriter and Craig S. Wright (Satoshi Nakamoto). # # Read unwriters phenomenal message to all devs:- # # https://medium.com/@_unwritethe-resolution-of-the-bitcoin # -cash-experiment-52b86d8cd187 # # OK - let's get started... # # These are the only 3 functions we need to import. from binascii import hexlify from hashlib import sha256 from os import path BASE_58_ALPHABET = '123456789ABCDEFGHJKLMNPQRSTUVWXYZabcdefghijkmnopqrstuvwxyz' # First let's make a public key based on some text, unless we manage to break # cryptography we will have no way of knowing the private key for this message # thus any coins sent here are effectivley burned (unspendable). # This message will give us fake address 1MCpARZExPsW5EmBMEYj2NoyUxaoWyZt8N BITCOIN_PUBKEY_MESSAGE = b'Roger Ver is an idiot, jim-btc owns him!' MESSAGE_TO_ROGER = '''Hey Roger. You see I am attacking BCH continuously. If you want me to stop (and switch teams and work for you guys attacking BSV) then I will accept the job. I can be paid a salary of 1 BTC to this address to get started:- {} Don\'t try and share this message and slander me cause I will just deny it. I am a lot cleverer than you guys - admit it! Not interested in further communications, except confirmation, and I shall not respond. Payment to the aforementioned address is the acceptance of hiring me - not negotiable. End of message.''' MEMO_SV = 'https://memo.sv/profile/1gr5whAEV4ffA6df71JTdQ7gSNQWTkgnm' MEMO_BAB = 'https://memo.cash/profile/1gr5whAEV4ffA6df71JTdQ7gSNQWTkgnm' MESSAGE_TO_FOLKS = '''Hi guys. Look I am doing something kinda funny here, but for now needs to be secret. Here is a SHA256 hash, write it down! "{}" If I don't reveal what plaintext is the source of this hash within the next 7 days then it means I am a fraud, and I am not to be trusted and I request I am permabanned from the subreddit, and all communications with me should cease. This hash has been published on both the BSV & BAB blockchains as a memo message, as proof it wasn't created after the time it appears in the blockchains, and proof of immutability of content. You can see it here (BSV):- {} Or here (BAB):- {} And timestamp will be a few seconds or minutes after timestamp below, as and when message gets confirmed in next block on each respective chain. PoW! If I happen to be banned from reddit in the meantime don\'t worry as hash reveal will take place on these memo channels within 7 days. If this works you\'re all gonna LOL real hard cause it will cause one big massive social media shitstorm! And we all know the only way to destroy a PoSM shitcoin like BAB is with social media! Cheers fellas! jim-btc 2019-06-16T20:00:00Z End of message.''' SEPERATOR = '*' * 80 WARNING_ADDR = '''WARNING: Hey if you are running this code to prove the hashes, DO NOT SEND ANY BSV/BTC/BAB to the address! I cannot spend it as I don\'t have the private key and it\'s impossible to find it - you will just be burning your crypto!''' def make_bitcoin_address(pubkey_hash): with_network_byte = b'\x00' + pubkey_hash full_checksum = sha256(sha256(with_network_byte).digest()).hexdigest() checksum = full_checksum[:4 * 2] address_hex = hexlify(with_network_byte).decode() + checksum b58_string = '' # Get the number of leading zeros leading_zeros = len(address_hex) - len(address_hex.lstrip('0')) # Convert hex to decimal address_int = int(address_hex, 16) # Append digits to the start of string while address_int > 0: digit = address_int % 58 digit_char = BASE_58_ALPHABET[digit] b58_string = digit_char + b58_string address_int //= 58 # Add '1' for each 2 leading zeros ones = leading_zeros // 2 for one in range(ones): b58_string = '1' + b58_string return b58_string def main(): # We'll use first 160 bits of sha256 of message - doesn't really matter! # as long as we have 160 bits like RIPEMD-160 pubkey_hash = sha256(BITCOIN_PUBKEY_MESSAGE).digest()[:160 // 8] # If you wanna test the function then follow this blog post # https://www.freecodecamp.org/news/how-to-create-a-bitcoin-wallet-address # -from-a-private-key-eca3ddd9c05f/ # and hardcode it as:- # pubkey_hash = b'E23`\n\x968K\xb8\[email protected]\t\x84\x11z\xc8M~\x8b' # and you will get result '17JsmEygbbEUEpvt4PFtYaTeSqfb9ki1F1' as per blog fake_bitcoin_address = make_bitcoin_address(pubkey_hash) source_code = path.abspath(path.realpath(__file__)) hash_of_this_source_code = sha256() # We'll hash this source code. Hashing this is proof of the entire # operation! and allows anybody to see what was done, when, and why. with open(source_code, 'rb') as _: hash_of_this_source_code.update(_.read()) source_hash = hash_of_this_source_code.hexdigest() # We now input the hashes etc... into the messages, print them on screen # for easy copy pasta! message_to_folks_with_hash = MESSAGE_TO_FOLKS.format(source_hash, MEMO_SV, MEMO_BAB) message_to_roger = MESSAGE_TO_ROGER.format(fake_bitcoin_address) print(SEPERATOR) print(message_to_folks_with_hash) print(SEPERATOR) print(message_to_roger) print(SEPERATOR) print(WARNING_ADDR) if __name__ == "__main__": main() 
This is what output looks like if you run it (you'll see it hashes itself but you can do sha256sum on the program file if you want)
******************************************************************************** Hi guys. Look I am doing something kinda funny here, but for now needs to be secret. Here is a SHA256 hash, write it down! "52f42a5a4c073a2a14ed76e5a1d356c4586e6f2dea2a91d9a3dcf5f57799442e" If I don't reveal what plaintext is the source of this hash within the next 7 days then it means I am a fraud, and I am not to be trusted and I request I am permabanned from the subreddit, and all communications with me should cease. This hash has been published on both the BSV & BAB blockchains as a memo message, as proof it wasn't created after the time it appears in the blockchains, and proof of immutability of content. You can see it here (BSV):- https://memo.sv/profile/1gr5whAEV4ffA6df71JTdQ7gSNQWTkgnm Or here (BAB):- https://memo.cash/profile/1gr5whAEV4ffA6df71JTdQ7gSNQWTkgnm And timestamp will be a few seconds or minutes after timestamp below, as and when message gets confirmed in next block on each respective chain. PoW! If I happen to be banned from reddit in the meantime don't worry as hash reveal will take place on these memo channels within 7 days. If this works you're all gonna LOL real hard cause it will cause one big massive social media shitstorm! And we all know the only way to destroy a PoSM shitcoin like BAB is with social media! Cheers fellas! jim-btc 2019-06-16T20:00:00Z End of message. ******************************************************************************** Hey Roger. You see I am attacking BCH continuously. If you want me to stop (and switch teams and work for you guys attacking BSV) then I will accept the job. I can be paid a salary of 1 BTC to this address to get started:- 1MCpARZExPsW5EmBMEYj2NoyUxaoWyZt8N Don't try and share this message and slander me cause I will just deny it. I am a lot cleverer than you guys - admit it! Not interested in further communications, except confirmation, and I shall not respond. Payment to the aforementioned address is the acceptance of hiring me - not negotiable. End of message. ******************************************************************************** WARNING: Hey if you are running this code to prove the hashes, DO NOT SEND ANY BSV/BTC/BAB to the address! I cannot spend it as I don't have the private key and it's impossible to find it - you will just be burning your crypto! 
Any technical questions / comments feel free to ask below.
submitted by jim-btc to bitcoincashSV [link] [comments]

It's Time to Let Everyone in on Litecoin's Biggest Secret

Fellow Consumers,
It's possible that you might be getting a little upset at the current BTC fees. Please assist me in sending, or editing as you see fit, this drafted outline and email to whichever business you feel would benefit from using Litecoin instead. Or you can make a video, or tweet the link, or 100 other things. Just help in bringing attention to Litecoin in BTC's mempool time of need. It's time they learned Litecoin's biggest secret .... It’s THE BEST payment method out there. Also, please support businesses that currently accept Litecoin. I've put together a list below the draft.
........................................................................................................................................
BEGIN EMAIL DRAFT
To whom it may concern,
Has your company ever considered receiving the alternative payment currency Litecoin?
To begin, you may already be accepting bitcoin and Litecoin is very similar to bitcoin. If you're unfamiliar with bitcoin as a currency then Litecoin is a great place to start. They are even built from the same Core coding. A benefit to Litecoin is that it has a 2.5 minute block time instead of bitcoin's 10 minutes. This makes Litecoin's transaction speed four times faster and much less expensive than bitcoin. In layman's terms, this just means payment is confirmed faster and less expensively with Litecoin.
For reference - you can see the average fee of both bitcoin and Litecoin in US Dollars compared here: https://bitinfocharts.com/comparison/transactionfees-btc-ltc.html#1y
This chart shows the average fee for Litecoin is staying around 10 to 20 cents, and bitcoin bouncing between a low of $1.50 and $8.00 recently. This means you would pay less in fees to convert the same total value into fiat or USD in this case.
If you were to compare this to the average credit card transaction fees, of say 2.5%, any transaction over $5.00 would be more profitable through Litecoin.
Reference of fees found here: https://www.cardfellow.com/average-fees-for-credit-card-processing/#Typical
If you've heard of Litecoin, I'm sure you have heard the saying "Litecoin is the silver to bitcoin's gold." But really, Litecoin should really be considered Platinum instead of silver. Platinum is stronger, more durable, and much more ductile. Over 20% of all consumer goods either contain platinum or are produced using platinum. Platinum is truly an enduring metal just as Litecoin is truly an enduring cryptocurrency. It will be 6 years old this October, bitcoin is 8 years old.
A few facts that demonstrate Litecoin's strength, durability, and ductility are listed below:
  1. Litecoin has a large economy and your current bitcoin technology should work on Litecoin with very little changes. If you don't use bitcoin, it is still easy to implement.
  2. Litecoin has the best combination of economic size and technical similarity to bitcoin than any other cryptocurrencies.
  3. Litecoin is capable of eight times as many transactions as bitcoin in a ten minute period.
  4. Litecoin has much faster confirmation times with blocks that are not full.
  5. Litecoin has proven its longevity compared to many other cryptocurrencies that have come and gone.
  6. Also, if changes ever need to be made to Litecoin, it doesn't take years to implement them. Litecoin implemented Segregated Witness before bitcoin, and will most likely run on the lightning network before bitcoin as well. If you don't deal with bitcoin, this all just means Litecoin is a front runner in implementing new technology and features.
  7. Litecoin is a limited supply coin, launched fairly, with no coins premined (no developer is hiding a majority somewhere), nor has it ever hard forked for any special interest groups. It is decentralized and no one person or group controls what happens to it and no one person or group can manipulate the market.
  8. Whole Litecoins are much more affordable than whole bitcoins. This helps eliminate some psychological barriers to entering the market.
In conclusion:
If your company was to accept Litecoin, I would be happy to start conducting my business with you.
If your company accepts bitcoin payments but not Litecoin, I hope I have helped shed some light on the benefits Litecoin could bring to your business.
If your business does not accept bitcoin payments, I hope I have introduced you to an alternative payment option that a large number of people transact with everyday who would love to add you to their list of merchants accepting Litecoin. It really is the currency of the future.
If you have any questions about Litecoin or need help in possibly implementing Litecoin into your business, please let us know. There are many of us here excited to help you transition into accepting Litecoin or to help you further and answer any questions you may have.
We can be found here:
[email protected]
[email protected]itecoinfoundation.net
https://www.reddit.com/Litecoin
https://twitter.com/LitecoinCA
http://litecoinalliance.org/
https://twitter.com/ltcfoundation
https://twitter.com/litecoinsupport
A few options of the easiest ways to implement Litecoin payments currently are:
  1. https://shapeshift.io - currently used by Overstock.com - "The Safest, Fastest Asset Exchange on Earth"
  2. https://coinpayments.net/ - Payment gateway for LTC & BTC
  3. https://alfacoins.com/ - an international LTC & BTC payment processor
  4. https://www.asmoney.com/ - an electronic payment system for LTC & BTC
  5. https://www.gocoin.com/ - Enabling merchants to accept BTC & LTC payments
  6. http://cointopay.com/ - Provides merchant services in LTC, BTC, & many others
  7. https://www.cryptowoo.com/ - a decentralized payment plugin to accept LTC, DOGE, & BTC
  8. https://gourl.io/ - an open source crypto-currency payment gateway
  9. https://litepaid.com/ - accept LTC, BTC, & over 25 others fast & easy
END EMAIL DRAFT ........................................................................................................................................
This below is for LTC spending reference. No need to include it in any email. Dots were added in for any mobile users who can't see the formatted lines.
Places to spend Litecoin:
Please feel free to mention any links/sites/businesses you know of - It took me a bit to compile this list or PM me and I will add your business link to whichever category you prefer. Also, please verify with the consumer they still accept Litecoin or are still an active domain before purchasing.
A Bit of Everything:
https://overstock.com - Furniture, Decor, Cars, Pet Adoptions, Jewelry, Clothing
http://bitroadmarket.com/en/ - Electronics , Home and Kitchen
http://shop.btcs.com/ - Jewelry, Coins, Shirts, Collectors Items
https://bitcoingalaxy.us/shop/ - Jewelry, Coins, Shirts, Collectors Items
https://www.all-mints.com/- Gift Cards, PCs, Clothing, Food, Tools, Perfume, Electronics, Bags, Shoes, Gifts, Pet Products
Art & Collectibles:
https://bitographs.com/ - Crypto Posters
https://dogmaportraits.uservoice.com/ - Prints of your uploaded pet photos
http://cryptoart.com/ - Crypto themed art
http://bitcoinsportscards.com/ - Sports Cards
http://aircraft-photos.com/ - Aircraft photos
http://www.juanmiguelsalas.com/blog/ - Art - Blogger
http://www.benzandbeamer.com/ - Luxury Cars
Clothing/Jewelry:
https://Digswag.com - Clothing, Unique Items, Pets, Home and Office
https://Coinpupil.com - Crypto themed clothing
https://allthingsluxury.biz/ - Fine Jewelry
http://www.afkapparel.co.uk/ - Geek/Gamer clothing
http://www.sakamaonline.com/ - Leather and Rugs
https://www.siamsecrets-auz.com/ - Siam clothing
https://cryptocurrencygear.com/ - Crypto gear
https://www.topshelftoker.com/ - Shirt and Hat
https://allthingsdecentral.com/ - Card games, Hardware wallets, clothing, Beginners Box
http://shiresoaps.com/ - Soap
https://5mr.com/ - Baby Wearing
https://www.cryptojeweler.com/ - Jewelry
https://www.cheveux-naturels.com/ - Hair Extensions
https://www.etsy.com/shop/JestersLeather - Leather
http://www.cryptoverge.com/ - Crypto clothing
http://moniebug.com/ - Chlidren's Clothing (Launch Party Sept 30th - Coming Soon)
https://chicagogemshop.com/ - Precious Gems and Crystals
https://litecoinmerch.com/ - Litecoin Merchandise - Donates 25% Back to LTC Foundation!
https://twitter.com/LitecoinMerch
Domains/Hosting/and Other Digital Services:
https://nameselling.com - Domain names
http://www.lovinghosting.com/ - Linux Web Hosting
http://www.lovingdomains.com/ - Domain names
https://www.vps-city.com/ - Virtual Private Servers
https://flokinet.is/en/ - Anonymous Servers
https://coinshost.com/en/ - Web Hosting and DDos Protection
http://www.qhoster.com/ - Hosting, VPS, Servers, Domains
https://briehost.com/ - Hosting, VPS, Servers, Domains
https://www.hostmycode.in/ - Hosting, VPS, Servers, Domains, Wordpress, SSD Reseller
https://www.cinfu.com/ - Shared Hosting, VPS, Dedicated Servers, Domains, SSL Digital Certificates
http://ellenet.com.au/ - Web Hosting, Web Design, Server Maintenance, Web Development
https://247zilla.com/ - Cloud Hosting
https://hosthavoc.com - Game/Minecraft/Voice Servers and Web Hosting
https://www.simrai.com/ - Game/Minecraft/Voice Servers and Web Hosting, Package Deals
https://143vpn.com/ - VPN, DDoS protection
https://torguard.net/ - VPN, Anonymous Email, Anonymous Proxy
https://www.trilightzone.org/ - VPN Services
http://gameservers.today/ - Game and Voice Servers
https://xwebhosting.org/ - Dedicated and Cloud Servers, Web Hosting, Datacenters
http://www.onenetwork.net/ - Servers and VPS
http://instantcpanelhosting.com/ $0.5 Hosting, $4 VPS, Domains, Dedicated Servers, SSL
https://koddos.net/ - DDoS protection, Off shore hosting
http://www.coinrdp.com/
https://axelwebhosting.com - Web Hosting
18+:
http://www.vieci.com/# - Assorted Adult Products
Food and Drinks:
https://tealet.com/litecoin - Assorted Teas, Loose Leaf
https://www.drinkcham.com/ - Award Winning Cold Brew Tea
https://www.cryptomercado.com/ - Coffee, Jerky, Nuts, Snacks
https://crypto-coffee.com/ - Coffee
http://drapis.com/ - Raw Honey
Furniture:
https://distinguishedimports.com/shop/ - Hand Blown Glass, Decor, Vintage Furniture
Game Keys:
https://key4co.in/ - Game Keys
https://www.cjs-cdkeys.com/ - Game Keys and Physical Discs
https://gamerzheat.com/ - Game Keys and Software
Gift cards:
https://www.gyft.com
https://www.cryptodechange.com/
https://www.egifter.com/litecoin/
https://bitcoingiftcards.com.au/
https://www.cryfter.com/
https://giftoff.com/
Gold and Silver:
https://www.coaex.com/ - Gold and Silver Bars
http://www.bitgild.com/ - Gold, Silver, Platinum, Palladium, Accessories
http://www.bitcoinmetals.us/ - Copper, Gold, and Silver Bullions
Law firms:
https://sohovichlaw.com/ - DUI Defense
Miscellaneous:
http://coinmap.org - Map of Local Businesses
https://www.unlockbase.com/ - Unlock iPhone
https://www.custommuzzlebrakes.com/ - Custom Gun/Rifle Parts
http://www.getballistic.com/ - Body boards
http://www.3dp4btc.com/ - 3D Printing
Music:
http://www.shanthagopian.com/
http://www.progmegastore.com/store/ - Memorabilia, Vinyl, and Collectors Items, CDs and DVDs
http://cryptopay.trebaltek.ca/wp/
Other Electronics:
http://www.thermostatenshop.nl/ - Thermostats
http://www.heat4feet.net/nl/ - Floor Heating maps, rugs, thermostats
http://www.opritverwarmingen.eu/ - Heating cables, thermostats, and control systems
https://www.vorstvrij.net/nl/ - Heating cables and thermostats
http://www.keraheat.com/ - Assorted heating products
Pet Supplies:
http://cryptopet.com/ (Out of date site)
Physical Coins:
http://www.lealana.com/ (also sold on bitcointalk.org forum)
Travel:
https://www.cheapair.com - Plane tickets
https://btctrip.com/ - Festivals, Burning Man, Museums, Trips
http://finnatravel.com/ - Travel Agency
https://www.mercadoviagens.com/ - Brazil Travel Agency
http://3s.ee/booking/# - Estonia Hotel
https://www.surfranchnicaragua.com/bitcoins - All Inclusive Nicaragua Resort
Vape Nation:
https://arkansaseliquid.com/ - Vape Shop
https://www.vaposhop.com/ - Vape Shop
https://azarius.net/ - Assorted 'exhalant' supplies
http://btcheadshop.com/- Assorted 'exhalant' supplies
https://www.fogonthetyne.eu/- Vape Shop
https://www.ecigsplus.com/- Vape Shop
https://vapourdepot.com/- Vape Shop
http://www.tobaccoseed.company/ - 'Grow your own' Tobacco Seeds
https://kingpenvapes.com/- Vape Shop
http://www.digitalcloudvapor.com/- Vape Shop
Current Litecoin Developments - For Reference
Litecoin Roadmap - https://litecoincore.org/
Lightning Network
LN - vid by LTC Foundation's Franklyn
ln.network
RSK - Rootstock Sidechains
RSK - vid by LTC Foundation's Franklyn
rsk.co
MAST - Smart Contracts
Inside MAST: The Little-Known Plan to Advance Bitcoin Smart Contracts
Multisig Wallets
Multisig - vid by LTC Foundation's Franklyn
If you find any errors, mistakes, have suggestions of websites, comments on the wording, or what have you, just let me know in the comments or through PM. Also, as a disclaimer: I can not confirm every website above is still active or still accepts LTC, some accept but you have to email them first. I also left all the gambling websites out because those are hard to verify their trustworthiness.
Also, feel free to cross post this anywhere you want on the internet. You can edit and create whatever medium, youtube, twitter, reddit, voat, 4chan, bloomberg post you want. Feel absolutely free to get all that sweet sweet karma for yourself.
EDIT: I'll no longer keep this list up. I'll keep updating https://redd.it/6w0khi over in litecoinmarkets so you can always link to that.
submitted by 1JoeLite1 to litecoin [link] [comments]

PETITION: Raise Litecoin Awareness to be accepted by Gyft

PETITION: Raise Litecoin Awareness to be accepted by Gyft submitted by Tai_Lung to litecoin [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

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.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com is a very helpful site for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer / Credit card Cash
Coinbase LocalBitcoins
Gemini LibertyX
GDAX Mycelium LocalTrader
Poloniex BitQuick
Bitstamp WallofCoins
Kraken BitcoinOTC
Xapo
SnapCard
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or 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.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
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.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, GreenmanGaming, and Coinplay.io For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, Rakuten, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg, TigerDirect and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Wagepoint, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More Bill payment
Foodler, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

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. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
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)

Bitcoin Projects

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.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 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!
submitted by BinaryResult to Bitcoin [link] [comments]

Is there an app to immediately replace/rebuy the coins I just used to purchase something?

I'd like to spend bitcoins wherever possible but I don't want my BTC balance to change. Is there some app that will do this for me automatically?
submitted by meefozio to Bitcoin [link] [comments]

Can bitcoin replace the gold?

Bitcoin and gold are very different assets. The cryptocurrency can’t replace gold as a precious physical asset as it isn’t a tangible commodity, while its volatility means it is unlikely to replace gold as a safe haven.
Two are very different markets to focus on; Bitcoin is a peer-to-peer decentralized digital currency first ‘mined’ in 2009, while the precious metal gold, very much a tangible asset, has been highly valued for millennia.
DIFFERENCES BETWEEN BITCOIN AND GOLD
1. Volatility
One of the most important differences between Bitcoin and gold is the volatility of the two assets. A useful measure of volatility is the average true range (ATR), which describes how much a market moves, on average, over a specified time.
Visit BtcNewz for the bitcoin price, prediction and mining.
2. Storage Procedure
A second difference between Bitcoin and gold is the way they are stored. As a physical asset, gold is stored in vaults, safety deposit boxes in banks and personal safes for smaller amounts. Bitcoins, on the other hand, cannot be stored in the traditional sense. Instead, what is stored is a secret number called a ‘private key’, which facilitates the transfer of Bitcoin from one party to another. Buying Bitcoin can be extremely risky if you do not make use of a hardware or software wallet to secure your private key.
3. Sources of Demand
Gold, as an asset, has a 7,000-year history and its drivers of demand are easily identifiable, as can be seen in the chart below. The demand for Bitcoin on the other hand, is less clear and tends to centre around price speculation, buy-to-hold strategies and the underlying blockchain technology itself.
4. Bitcoin and Gold’s Utility as Currency
Bitcoin and gold’s utility as currency is the subject of some dispute. Economists often describe money as having three crucial functions that must all be satisfied: medium of exchange, unit of account and store of value.
Medium of Exchange
Medium of exchange is the ability for something to be used as a currency to exchange for goods and services. While not widely accepted, this description fits Bitcoin; as of November 2018 organisations that accept the cryptocurrency include travel company CheapAir, gift card company Gyft, and US-based REEDS Jewelers, with many more showing interest.
However, gold is not often used as a medium of exchange in modern economies and it is not generally considered legal tender.
Unit of Account
To satisfy the unit of account function, a potential currency must be ‘countable’ so that there is something to compare the cost of goods and services against. Unit of account is satisfied by Bitcoin due to the fact that the cryptocurrency is divisible. Most transactions will be fractions of a Bitcoin and these can go as far as eight decimal places.
Gold can also be used as a unit of account as it is also divisible (although less easily). Its value can be related to other goods through its value per ounce in a given currency.
Store of Value
Store of value refers to an asset that can be set aside for future use. As it can be used in the future, it is believed to hold value overtime, as opposed to perishable goods such as milk, which is a poor store of value due to its propensity to spoil.
Sceptics of Bitcoin argue that the cryptocurrency has no value and is merely worth what the next person is prepared to pay for it. Some also believe that the fact that you cannot physically touch it is consequential when ascertaining its store of value.
In conclusion, it can be argued that while Bitcoin has been used as a medium of exchange, neither Bitcoin nor gold meet all three functions necessary to be considered ‘money’ and therefore neither fully satisfies a utility as currency.
Bitcoin and gold share few similarities, so their differences are not to be overlooked, particularly from a trading point of view. Gold is still regarded as a safe haven, while Bitcoin is renowned for being a particularly volatile asset. Greater volatility brings with it a need for greater risk management in the form of position sizing and well-defined stop and take-profit levels.
submitted by alifkhalil469 to BtcNewz [link] [comments]

Gift Card Exchange For Bitcoin - YouTube Exchange Ebay Gift Card To Bitcoin - YouTube Buy Bitcoin Anonymously Easy & Fast With Your Debit Card ... 4/11/14 - China, Mt. Gox buyout, Gyft Cloud, BIT, new bitcoin symbol

The best and reliable place to trade your bitcoin and gift cards with ease, tested trusted. the app deserve a 5 star rating. Ugwoke Juliet. The user interface of this app is quite easy. No ads whatsoever to disturb you and no too much steps. They are the best I have used so far to exchange my cards and bitcoin. As for the rates.... Mind blowing to say the least. I strongly and highly recommend ... 21 reviews of Gyft - "GYFT is one SCARY company to deal with! BEWARE! It sounds like they might be running a scam. It started after I opened an account (they've been around a couple of years, so I thought they were legit.) So I proceeded to try to buy a gift card and my payment didn't go through (credit card), which is odd, so I tried again. Use Gyft to also keep track of gift card balances and instantly send friends and family gift cards they’ll love. We love Bitcoin! In fact, we were one of the first places to accept Bitcoin. Places like NYTimes, Forbes and Techcrunch swear by us. Steps to pay with Bitcoin. Steps to pay with Bitcoin. Choose your desired gift card; Select Bitcoin as your preferred payment method; Send payment ... Prepaid Gift Card Exchange Buy Bitcoin with Cashlib, Paysafecard & Neosurf. Contact us via WhatsApp clicking here. I want to exchange... Our simple service and excellent prices, any amount of BTC you want! CASHlib. Neosurf. Already exchanged? Check your history, order status and more by the Bitcoin address! Bitcoin address: By clicking on “Check history” you agree that you own the bitcoin ... However, Bitcoin Gift Cards really simplifies the process of buying Bitcoin. I had no problem redeeming my Bitcoins. Highly recommended! Awesome, received it quickly! It was very easy to add the Bitcoin Gift Card balance to my son’s Bitcoin wallet. He is very happy! My wife and I are not tech savvy at all, and we could not figure out how to buy Bitcoin. The Bitcoin Gift Card was exactly what ...

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Gift Card Exchange For Bitcoin - YouTube

If you are looking to Buy Bitcoin Anonymously With Your Debit Card, Credit Card and even gift cards such as Amazon gift cards on paxful, itunes gift cards on... A very basic how-to for buying, selling, trading and spending bitcoin and other cryptocurrencies. How to setup wallets, trade coins, exchange bitcoin and spe... Click Here : http://40739.getgiftcards.org/ - Gift Card Exchange For Bitcoin Related search : Gift Card Design Jobs Gift Card Exchange To Bitcoin Gift Card D... Convert Amazon Gift Cards to Bitcoin using Purse.io? - Duration: 7:53. ... The 3 Best Gift Card Exchange Options - Duration: 1:58. The List Show TV 45,751 views. 1:58. Steve Wozniak interview ... A group of investors has offered to buy bankrupt exchange Mt. Gox for a token payment of one bitcoin according to the Wall Street Journal. The group has outlined plans in their offer to revive the ...

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