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13

I spent a long time researching this very question a while ago before buying my first bitcoins thinking that Bitstamp is the cheapest way to buy bitcoins (fee wise). I ended up concluding that the cheapest way to deposit money in a Bitstamp account from the United States is with Ripple, which allows you to bypass the $15 wire transfer fee that it would cost ...


13

I think it's necessary to first consider the question: Without ripple, how do banks "actually transfer money" from one bank to another? Suppose that you and I are banks, and I want to send you $10 million. I'm probably not going to actually physically ship you $10 million worth of bills and coins. Instead, there are a few ways we could do this: You and I ...


10

The way Ripple's public ledger system works is that you propose a payment by specifying the source and destination accounts and currencies and then the system gives you a quote based on public offers. You can then specify a maximum amount you are willing to pay to complete the payment and submit it. If the payment is possible for the amount you offered or ...


10

Here all famous scammers/sites: List of Known Bitcoin Scams: Beware of Fraudsters! Bitcoin Scammers list


10

You should know that lots of things in life come for free. Specifically when it comes to software, lots of professional developers would rather develop things "their own way" for free, instead of getting paid and "being forced to do it". Most open source developers also simply enjoy the act of creating things. They're engineers and scientists that care more ...


4

It depends a lot on the circumstances. If the use cases overlap significantly, then the currencies can compete. That could negatively affect Bitcoins. However, if the use cases don't overlap significantly, then the currencies likely won't compete. That could even positively affect Bitcoins. Crypto-currencies aren't fighting over shares of a fixed-sized pie. ...


4

There is a site where one can submit bounties for proofs of theorems in Coq formal proof management system, and get paid in bitcoin: proofmarket.org Additionally there are other sites that have done competitions in the past: mathgate.info treasure hunt Another project in development (but at the moment not specifically tied to bitcoin) is ProofPeer ...


4

Lots of things called "decentralized" or "defi" are scams, and I vigorously encourage you to stay away from them. Some of them are real, or useful, and have varying degrees of decentralization. Still, nothing is ever going to give you interest if you don't give up custody of your coins. Interest is literally you being paid to take the ...


3

Some developers don't make money from making some open source projects - but they can always use it to showcase their portfolio to get hired to some company. Android Bitcoin Wallet is earning money from donations. Blockchain info recieved about 30.5 M funding to invest in growth - they are building a brand and maybe that can offer some consultancy to ...


3

There is the theory first described by Hal Finney that if an alt currency supplants bitcoin (in which Bitcoin's value goes down as coins are sod for transfer to another) then that is something that too can be repeated over and over, and thus crypto currencies lose their ability to be a good store of value. So that happening harms, over the long term, not ...


3

Money is something that is used as a medium of exchange a unit of account a store of value in a given socio-economic context. In the context of the Bitcoin community, Bitcoin is being used as a medium of exchange (payment vehicle) and – as the existence of "hodlers" shows – as a store of value. You apparently agreed with Bob that some specific amount of ...


2

There is now a BitcoinPPI (Bitcoin purchasing power index) available: http://bitcoinppi.com/ It uses the BigMac index published by The Economist and calculates a global weighted index and a local index for 41 countries. There is an API for all data and the sources are also available. Disclaimer: I have no opinion on the taste of BigMacs ;)


2

Because he can sell the bitcoin for dollars. And in many cases, his alternative would be to accept a credit card payment which costs him around 2%. Converting bitcoins to dollars costs around 0.2% -- one tenth as much. Also, if he accepts a credit card payment, he has to worry about a chargeback (where you claim the payment was unauthorized and the bank ...


2

You cannot send anything other than bitcoin to (or out of) your Bitcoin Core wallet. You'd need to acquire bitcoin somewhere else first, then you will be able to send it to your Bitcoin Core wallet.


2

It's typical to measure the purchasing power of currencies using something like the Consumer Price Index, so this is probably would be used if Bitcoin were to become a dominant currency. Basically, you would develop a "market basket" of goods and services that people commonly buy, and perform some sort of survey to determine what these goods and services ...


2

Paying taxes / buying goods / etc with Bitcoin, is equivalent to selling the Bitcoin and paying with fiat, except that it might be more convenient and save transaction costs to do it in one step. Thus your question boils down to "Why would anyone 'waste' Bitcoin by selling it?" And of course there are many rational reasons to sell Bitcoin: you ...


1

Do you still have access to the old wallet on an old phone perhaps? If, so you should look into exporting your private keys and then you can use any other preferred wallet and import the same set of keys and youre good to go :)


1

The method described has absolutely nothing to do with Bitcoin or blockchain exploits. It appears to be exploiting a badly designed payment system, which allows a user to unilaterally cancel a payment by altering the timezone. This leads the payment processor to think too much time has elapsed (many payment processors impose a time limit by which a deposit ...


1

Currencies get value from demand and supply not from governments backing them. Currencies have existed long before government's started stamping them out in their own name. The demand for a currency comes from the utility that it offers as a medium of exchange. Even pre-historic humans went out of their way to create currencies because they were useful. ...


1

Without computers or electricity, Bitcoin would have no value and could not be used as it is entirely a digital asset. There are no such an object as a coin and thus Bitcoin cannot be put into a physical asset. The blockchain itself is what determines something is Bitcoin, and without it (because there are no computers or electricity), anything physical ...


1

Say you buy 1 TRX for $0.20 on monday and on tuesday the value of 1 TRX drops to $0.01. If you sell that 1 TRX on tuesday, you will receive $0.01 in return. So you lost $0.19. Let's say you choose NOT to sell on tuesday and hold on to that 1 TRX you bought on monday for $0.20. Suddenly the price goes up to $1 for 1 TRX on wednesday. You make your move and ...


1

The value of TRX relative to the dollar fluctuates, as do all cryptocurrencies. Whatever the price of TRX relative to the dollar when you sell TRX is the dollar amount you receive no matter what happens to the price between when you acquired TRX and when you sell it.


1

Absolutely! Bitcoin can be transferred peer to peer, to anyone over the net. Now, you should note that: Bitcoin is very volatile. Bitcoin is very congested and slow these days, using litecoin or ethereum may be a better pick at the moment. Also too, you will need to make sure your oversea customers will accept bitcoin payments. Some countries do not have ...


1

This isn't a problem with git. The problem is that the program 'a2x' is not found. Either you don't have it installed, or it can't be found in your path.


1

The major difference is, while Hawala means trust, Bitcoin does not depend on trust. Everything is made of cryptographical signatures, making it 100%** safe, while Hawala cannot / may not be trusted. ** Two exceptions: 1) Majority of hashrate is attacking the network. See this 2) The theoretically possible, but practically impossible hash collisions. It ...


1

Lost bitcoin are protected by the same security that protects bitcoin in circulation or storage, hence lost coins are lost forever. There are many ways of looking at this "dilemma", and its effects are different depending on the economic context, but coin loss/destruction is generally considered to contribute to the value of the remaining "usable" coinbase. ...


1

It is not legal tender, and there is no one that's forced by law to accept it. It is a digital token with the properties of money and (with the current state of computation) not possible to forge or to double spend. It is not backed up by anyone, but its users. The users are the ones who give value to it, and that's because bitcoin is useful. Currently it ...


1

If in this hypothetical scenario there weren't any other unit of account available, it would be necessary to use some kind of consumer price index. Fortunately, besides fiat currencies, there is also gold as unit of account. So, in case all fiat currencies are gone, you could use gold to measure the purchasing power of bitcoin.


1

The simplest way to track profits and losses from trading is to mark your holdings to market in your local currency each day. That is, each day, value all your holdings in your local currency at their market price and sum them. If that number goes up, you made a profit on your combination of holding and trading currencies. If that number goes down, you took ...


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