A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
The current state of Bitcoin: Anywhere that can be sybilled or censored, is being sybilled or censored. This includes Twitter, YouTube comments, Bitcointalk, Reddit, Bitcoin.wiki, Bitcoin dev list, Bitcoin.org, Coindesk, etc.
[Hiring] $50 paid in BTC for wikipedia.org/wiki/Bitcoin modification
I will pay $50 USD (paid in bitcoin) for having the Wikipedia page on bitcoin (https://en.wikipedia.org/wiki/Bitcoin) have the following modification added after the first paragraph: "Instead of storing actual coins, a distributed public database keeps a record of all timestamped and confirmed transactions between bitcoin addresses. For the transactions to enter this public ledger the signed transactions need to be broadcasted, validated and accepted by the bitcoin network, to avoid any incongruence and double spending. Bitcoins only exist as balances associated with bitcoin addresses as a result of previous transactions in the sense that you can trace the chain of valid transactions until you reach a special transaction called "coinbase", i.e. some minted bitcoins that enter circulation as scheduled. To allow value to be split and combined, transactions contain multiple inputs and outputs. The output values of previous transactions will be referenced as input values of future ones. Previous transaction outputs are referenced as new transaction inputs and transactions simply allocate funds to a new owner that can then spend them in a new transaction." [This is the first paragraph] Bitcoin is a worldwide cryptocurrency and digital payment system:3 called the first decentralized digital currency, as the system works without a central repository or single administrator.:1 It was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary.:4 These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.
[new paragraph inserted here] "(...)"]<<<
[keep all the rest after it] Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. (...)
wiki.bitcoin is down (timing out) - where can I get a full rundown on all bitcoin concepts?
Hi there, I am interested in learning more about bitcoin. I looked at btc/wiki, which appears well structured, but each link goes to wiki.bitcoin.com, which times out at the gateway. Is there an alternative source I can look at which will give me all the details? Thanks!
From the /r/btc wiki: "Bitcoin is immune to seizure: Nobody can steal or confiscate your bitcoin since you own it; it's not housed at any bank or company."
This language doesn't make sense to me. "Nobody can steal your bitcoin since you own it..." Not true. I own my TV and my watch and my car, but those can all be stolen. How is Bitcoin any different? If a thief knows where to look, he can find my keys, or force me to give them up. There's no difference between someone holding a gun to my head demanding my wallet and demanding my bitcoin keys. Although, it does seem a lot more difficult.
The current state of Bitcoin: Anywhere that can be sybilled or censored, is being sybilled or censored. This includes Twitter, YouTube comments, Bitcointalk, Reddit, Bitcoin.wiki, Bitcoin dev list, Bitcoin.org, Coindesk, etc. /r/btc
Made a Cryptocurrency Wiki, since Bitcoin Wiki is censored and didn't cover intertwined connections, which to me is very interesting
I know today hurts us in our portfolios but hey, let's focus on building the ecosystem instead of focussing on price drops like the ones today. This collection of information started out as a way to aid my own memory since there is so much happening in this crypto space. Can’t remember every technical term, name and connection, right? https://zdl-crypto.wikia.com/wiki/ZDL_Crypto_Wiki Some of this info is not necessarily my own opinion plus I have tried to stay as neutral as possible.
The many groups and projects that circle around this Crypto mania. Exchanges like Kraken, wallets like Jaxx, see all the intertwined links a company like Digital Currency Group has. But also big known names like Google and Microsoft have a lot of links with crypto projects these days.
Where you can read that Jesse Powell played Magic the Gathering with Roger Ver in highschool or how many projects Anthony Di Lorio is involved in. Get to know Steven Nerayoff, a man who advises at least 9 projects. Like I said, it started out as just something I made for myself, but grew, and now friends and also anons use it to quickly check something out or refreshen their memory. I am only human, so if there are mistakes, or something that is outdated, or is missing, hit me up or help out! Found this helpful? You might wanna check out my Medium account, I made a couple pieces to help out new beginners, stuff like and introduction to Crypto, how to accept crypto in your own business, and also a checklist to use before you invest into a coin. They were made back in early 2017, so some information might be a bit dated, but they have helped out many people I met at meetups and stores or online. Have a good one fellow blockchain fanatics!
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:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply memorizing a string of words for wallet recovery (while cool this method is generally not recommended due to potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for new users due to ease of use and additional security).
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.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account 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.
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.
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.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
one bitcoin is equal to 100 million satoshis
1,000 per bitcoin
used as default unit in recent Electrum wallet releases
1,000,000 per bitcoin
colloquial "slang" term for microbitcoin (μBTC)
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!
Szavazás Volt egy téma amiben írtam egy hozzászólást a bitcoinról. Sosem kaptam ennyi utálatot még redditen. Kíváncsi vagyok, hogy csak az adott téma olvasói voltak ennyire negatívak, vagy általában a magyaroknak negatív véleménye van a bitcoinról. Te hogy vagy a bitcoinnal? Mellette, vagy ellene? Aki még nem hallott róla: https://hu.wikipedia.org/wiki/Bitcoin View Poll
Anyone here that does maintenance on these sites? Both list /bitcoin and bitcointalk als the first two communities. People should somehow be aware that these are censored communities and are controlled by one individual. Also people should know there are other communities.
I don't understand the BIP page in the Bitcoin Wiki.
According to the table at https://en.bitcoin.it/wiki/Bitcoin_Improvement_Proposals there is only one "Active" BIP - number 1. Many others are "accepted" but they are not "active". Why? Moreover, I'm sure that BIP 38 (to take one example) is regularly used in physical Bitcoins and paper wallets. I have a related question: which BIPs are the most important? Thanks!
Call for action: there are only 23 BTC ATM's in the OpenStreetMap database...
Take a look at current state of BTC ATM's in OpenStreetMap: https://i.imgur.com/68tKP5p.png (see EDIT, this is incorrect filter, it should be XBT) https://i.imgur.com/jKbQoTN.png Or run query yourself: (please don't do "Reddit hug of death): https://overpass-turbo.eu/s/Xj1 (see EDIT, this is incorrect filter, it should be XBT). OpenStreetMap being open platform for mapping the world (from countries to streets to hiking roads to benches or even trash cans) seems in the same open nature like Bitcoin is. So, please consider contributing Bitcoin ATM's to OpenStreetMap database! You can do that using https://www.openstreetmap.org editor (create account and press Edit), or install mobile editing app like Vespucci (or others), or full-powered JOSM (for desktop). Check OpenStreetMap wiki page about ATM. Basically it's "amenity=atm" with "currency:BTC=yes" (see EDIT) "currency:XBT=yes". Add other appropriate tags too, like operator, other currencies and others. Yes, I know we have https://coinatmradar.com/ (and maybe others), but these closed/proprietary sites might go "out of business" any time and we will lose all the data. Meanwhile, you can host your own OSM server if you will! EDIT: actually it should be currecny:XBT=yes as of this note:
For Bitcoin, please use currency:XBT=* instead of currency:BTC=*. In fact "XBT" is ISO 4217 compliant.
Still, https://overpass-turbo.eu/s/Xjl shows 386 ATM's if I filter for XBT, which is much less (order of magnitude) than of total atms. So first we have to fix currencty:BTC to currencty:XBT.
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