11 Major Companies Who Accept Bitcoin - Where to Spend ...
Bitcoin - The Currency of the Internet
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.
"I would take my salary in Bitcoin if merchants accepted it." The way Bitcoin wins is if WE show demand for the merchants who ALREADY DO accept it. 10,000's of merchants accept Bitcoin, but we can't find them online. Screw another website tracking price. We need a website that facilitates trade.
If you think that this ecosystem is too big for you to make an impact, you're sadly mistaken. The guy who started Coinmarketcap.com was a college kid living in Brooklyn. It's up to us to build the future. It's up to us to drive demand. Many merchants offer a discount for paying in Bitcoin - Fuck it, I'd gladly pay 5% more if you let me pay in Bitcoin. Create a website. Make a little database search. Email merchants asking if they want to be listed. Get popular, make a millino bucks no problem. Microsoft was started in a garage. Coinmarketcap was started by a guy who bought a website domain sitting in his bedroom.
Amazon Bitcoin Payments: Mainstream Cryptocurrencies SCAM, Part 2
This is a followup to yesterday's [ http://intelsector.com/#Central_Bank_Cryptocurrencies_Are ] central bank cryptocurrencies report. I want to expand a little bit further on this topic since some folks are now arguing that Amazon is about to announce that it will start to accept bitcoin payments. Why that too should be a good thing for bitcoin and its loyal followers is not clear to me because the reality of the matter pictures a totally different state of affairs. Lets be very clear about it, none of the major payment gateways, that offer bitcoin payments, that are currently being used by any major corporation such as PayPal or eBay remain loyal to the core principle of bitcoin being a "crypto" currency because there is literally zero secrecy involved anymore through these payment gateways and related merchant websites, including Amazon. If this is something that you do not agree with then I ask you to take a look at these images first before continuing. Signup/registration forms for: Bitpay http://intelsector.com/images/bitpay.png Braintree http://intelsector.com/images/braintree.png Coinbase http://intelsector.com/images/coinbase.png Gocoin http://intelsector.com/images/gocoin.png Clearly ALL secrecy ("crypto") and anonymity has been removed once you register at one or more of these payment gateways. You can argue that you don't need them to use bitcoin and that is true but if you want to receive or send (pay with) bitcoins at PayPal, eBay, hundreds of registrars and the thousands of other (online) merchants that accept bitcoin payments you'll - in at least 75% of the cases - have to signup at one of the above listed payment gateways. That is also true. Therefore, by doing so, all essence of bitcoin or any other "crypto" currency is lost and it becomes completely useless to even consider making such payments at major corporations, of which Amazon is one for sure, or any other company. What is the point of using bitcoin as a cryptocurrency when you can just pay with euros, yen, dollars and so on, which everyone has anyway? Bitcoins are still hard to get if you don't want to buy them at the various exchanges. And there too all anonymity, in most cases, is lost because the registration forms are pretty much identical in most cases. Sure, bitcoin can be an asset, an investment, and there's nothing wrong with that when you actually know what you are doing but you can forget about bitcoin still being a "people currency". Those days have already long gone. For a cryptocurrency to be a true decentralized and independent currency for a population of any size it MUST remain detached and it must remain non-mainstream and 100% "CRYPTO" (secret). That is the entire point of it. Once a crypto, or anything else, is suddenly mainstream - or linked to it - it is reduced to being an extension of the global control grid under the BIS and the various secret societies that own it. In theory a true people's cryptocurrency can exist but it must be totally parallel to the global financial system at all times (never part of it) and it can even become as big as the mainstream society's 'alternatives' or even bigger. For example, if a cryptocurrency would exist that is as big and widely used as the Japanese yen but entirely detached from the mainstream financial system it would considerably reduce the effectiveness of the global control grid and its operators and owners. And that is the exact essence of a decent cryptocurrency. You want to destabilize the power structure and dismantle their web of oppression. So, for any serious truther or activist out there it should not matter anymore whether or not Amazon will accept bitcoin payments. They likely will though since its competition is ahead on this issue. Bitcoin has become (too) mainstream and can never be considered a rebel currency, or underground currency anymore. To a certain extent bitcoin is even no longer "crypto" worthy since thousands of people, and likely many more, have already been identified through their transactions via the major payment gateways. In addition, the payment gateways are being bought by the biggest players, creating a completely mainstream "Big Crypto" establishment or complex that is out to dominate and sabotage. Similar to big pharma, big media, big oil and so forth. In a dream about liberty, bitcoin still has potential. In reality it is a mainstream-occupied asset that is being stripped of its own reason to exist and it will gradually pave the road for a global 'pseudocoin'. A fake cryptocurrency operated by the BIS or the UN system. - KJ, Intel Sector
"I would take my salary in Bitcoin if merchants accepted it." The way Bitcoin wins is if WE show demand for the merchants who ALREADY DO accept it. 10,000's of merchants accept Bitcoin, but we can't find them online. Screw another website tracking price. We need a website that facilita /r/Bitcoin
Online merchant that accepted my order & bitcoins, now wont ship product without more bitcoins.
I am leaving the name of the store out for the time being for hope they may see this and fix it. I placed an order for a custom item from an online store and I also wanted to contribute to the bitcoin community. I had previously bought products from the company before. I transferred the amount, received the confirmation that they had received it, and the next day got an email that the item would be ready for shipping in 3 days time. About ~4 days later I received an email that told me the item is ready for shipping but the balance for the rest needs to be paid. I emailed them back and gave them the payment details and all the info they sent me. I receive an email that I paid that amount but the price of the item was higher. The bitcoin price had been changed on the item page and they wanted the difference. I explained that I paid on that date and that was the price, they are arguing that the price is only a number to help people understand what it might cost until the product ships. I explained that this was not the case with my previous orders and it doesn't state that policy anywhere on the item page or that I could find on the site. The problem: -I am not willing to make up that difference, it is a large amount of money. Even if it was really small I still would not make up the difference on principle. -They will not give me a refund since the item is ready to ship and was not cancelled before the item was started. -I am still willing to accept the item but I will not pay more. Or I am willing to accept the refund since the value will go back up soon enough. -What options do I have? BBB? Update 1: My intention was to update this along the way when it was appropriate. I am going to try and provide as much information as I can. The way I choose to approach this situation had several reasons that will be listed below. I will also try an answer some of the feedback and questions I have read as well as provide some input on what I learned from this. When I posted this situation I was trying to achieve a few things. I also had some concerns about how this might turn out: 1) To have my product shipped for the price I felt I had agreed too. I was aware that the company had been monitoring reddit related to bitcoins and was active on at least several occasions. I had sent my text ahead of time to the company and informed them of my intentions of posting it on reddit (I did not receive a response before posting). The item was part of a Christmas gift that I had already boasted about to my family. It was important to me that I receive the item. While I did not convey this in the initial post, I was in fact contemplating sending the additional funds. I believed that if I had indicated this, my chances of having this resolved might have gone down. The item was unfortunately that important to me. I was an anomaly when it came to online ordering in this regard. 2) I choose not to name the company at the beginning. Naming the company would most likely have caused hostility and lessened my chances of receiving the product. I was not sure of the possible legal implications that could happen. I have read over the years about companies going after people who post negative feedback (both legitimately and illegitimately). While I did review the page several times, and looked around the website, I wasn't 100% sure I had not missed some policy on the website. The company had taken a risk by accepting bitcoin and being part of something that is now still gaining mainstream acceptance (it is getting better every day). I felt that they had provided me with a positive experience previously so this greatly influenced my decision. I didn't want a circus to erupt. It might have turned into a storm of people looking for blood (I expected the comments about pitch forks right away). This is not what we need. We need calm, rational, and constructive discussion. 3) If things didn't turn out in my favor, I wanted to know my options. I knew they were fairly limited. I really wanted to stay away from the "bitcoin vs credit card chargeback" debate. It doesn't have that much to do with the situation other than I could have used a credit card. If I had paid cash for an item I would have been in the same situation. Similarly, the sudden drop in bitcoin value, overshadowed the reasons for this happening in the first place (my next section). Though this was my initial conclusion and I still believe it played in important factor. 4) Over several tickets, and an actual phone call (this actually scared me a bit since it felt like we both were being very careful about our words). An agreement was made. For the time being, the company will not be named (not by me unless another agreement is made). The initial price is the price. I was also given credit towards a future order and an upgrade in shipping (I assume I was to disclose this). I don't know if they plan to do a follow up themselves and explain. So my next part is solely my interpretation of what happened based on my own knowledge and what I could piece together from our communications. 5) The product page is not dynamic. They must manually enter the btc amount. I don't know the frequency to which it is updated. The only other currency is USD. They accept credit cards & paypal (not sure if this is done through paypal). From there end, it is possible currency adjustments is done totally outside their control. Accepting bitcoin may have been their first attempt at accepting another currency where they had to do the conversion themselves. The specific product is a custom order, so it is not the same as the other products. This may have caused some of the problems I had experienced. The special option boxes (part of the custom order) may not be have been part of the system they use to accept non-custom bitcoin orders. This is my conclusion based on the tickets. Let's hope they do decide to come on and tell us what happened and correct me if I made mistakes in my interpretation (My feeling is that they will. Possibly after they make adjustments to show that everything has been fixed). 6) I read the comments and other users had suggested using X services. I have no idea about how this works, so I will have to leave that to the informed. Based on this recent update, I would like others to provide input on if I am making logical conclusions and what steps could be taken for the future so this does not happen to anyone else. I feel that I cannot be the only person this has happened too. 7) As pointed out in the comments, the account I used was a new account. I knew this would come up. My account has information that identifies me, and other aspects of my life. I am aware that a lot of people feel really passionately about a lot of things. Every community has a few bad apples, and I was concerned I might be on the receiving end of some very weird events. Never mind myself, but my family, my friends, and my work could have been involved. Thank you everyone on viewing this. Even if this was primarily self serving, I was at least able to work it out and provide a new topic that can help merchants transition to not just bitcoin but international trade.
Hey all, I am writing a paper on Bitcoins for my economics class. I am trying to find some charts and background information. Does anyone know where I can find the following information:
I would like to show some information about the increased number of purchases made using bitcoins. This is not transactions on exchanges like Mt. Gox, but transactions made using bitcoins during online commerce. Does anyone have a good source for this.
Is there a good estimate for the number of online merchants that accept bitcoins?
The new item which will allow player to easily identify directions (azimuth) by pressing U key. This item will be equipped in the new unlootable slot (which means no one will be able to take your compass)
New type of bleeding - heavy bleeding
may open with a lower chance than a normal bleeding. Heavy bleeding requires special treatment items to stop (also some medical kits have the property of stopping heavy bleeding). The character with heavy bleeding leaves traces of blood on the surfaces.
New consumable items - Esmarch tourniquet, hemostatic syringe, kvass beverage
Fast backpack dump
the ability to quickly drop the backpack by double tapping the Z key
New third version of voice for BEAR
New faces and clothing for scavs
Voices of bosses (Glukhar, Sanitar and Reshala)
New character animations in the menu (on loading screen, in inventory, etc.).
New clothes for USEC and BEAR (tops and lowers)
New equipment (armored vest, chest rig, backpacks, headphones, helmets and berets)
New weapons and weapons parts:
New mods for various weapons
Quality of Life changes:
Redesigned the group gathering screen in the lobby. Now you can see the character models of the group members with nicknames.
Added display of the object resource on the quick use panel
For mods, weapons, items moved by the mouse (drag'n'drop), added highlight of weapons, slots and mods where they fit (green - can be placed inside, yellow - can be combined / installed)
Option in the game settings - selection of the body parts color in the upper left UI element (a variant corresponding to the colors from the inventory on the "Health" tab and the old variant - red monochrome)
Options in the game settings to select the principle of displaying the combat interface elements (automatically hide or always show - quick access zone, endurance zone and the current stance and the current health state of body parts, all can be configured separately)
Added an ammo loading menu in the context menu of magazines in the stash
At the flea market, when buying more items than are left on sale, the remaining available quantity is bought
Automatic sorting of character's stash, any containers, backpacks, etc. by "sort" button
On the preset or customization screen, the characteristics of the weapon in the characteristics window now change when pointing to the mod to be installed
In the kill list after the raid the field "distance" (showing the distance of the fatal shot) was added.
When you exit the game, we added a warning that the generator is on.
Added a counter for ready items after crafting in the hideout in the lower menu
At a flea market, current flea market filters are no longer applied to your list of offers and your wish list.
Sorting goods by category is now reset when moving between merchants
Width of scrollbar in the stash, merchants' assortment increased
Added a hot key to unload the chamber CTRL+R.
Added a hot key to re-chamber ALT+R
Sent friend requests can now be cancelled
Added "accept all invitations" button
After death on the post-raid statistics screen, your character is now displayed in the equipment in which he was killed.
If the weapon has no magazine and there is no cartridge in the chamber, then by pressing the reload, the cartridge is now charged into the chamber (if there is a bunch of rounds in the pockets or vest).
Outside the raid, the stash can now be opened and closed by pressing the TAB hotkey.
Added display of "found in raid" status icon for canisters in the hideout generator area (if the canister is "found in raid")
Now the "Empty" button is displayed as the last item in the drop-down menu of the canister selection for the Generator
Now the treatment at the therapist will be free of charge first 5 levels of character
Iteration of animation system optimization
Optimizing the work of AI on the server
High Quality Color option (enabled by default, disabling can give a small performance gain at the expense of image quality)
Different shader optimizations
Added weapon swaying in bots movements
Improved phrases for the attack by scav bots players
The bots now respond to the player scav "Follow me" gesture
Fixed bot behavior in combat when its target is outside the door
Fixed bug when Killa boss reacted incorrectly to smoke
Improved automatic cover search system
Fixed one of the bugs, from which a player scav could not become an enemy for raiders in reserve bunkers.
Fixed one of the bugs that caused bots to pass through closed doors
Bots now respond to the sound of approaching behind their backs
Fixed bug when bot ignored player after blinding.
Fixed a bug when a bot did not react to shooting at it through a masking net
Raiders now attack the regular scavs
Bots now respond to BEAR, USEC fractions with appropriate phrases
Bots can now react to the sound of a knocked down door
Fixed a bug when killing guards did not change the role of left alive bots
Desync of on/off status of the flashlight
Bug, when the items of the killed PMC character had the "found in the raid" status for the scav character of the same PMC player, in the same session
A series of bugs with the ability of the character to look through the walls
A series of bugs with invisible characters after spawning
Bug with missing display of the list of weapon presets
Setting and removing mods now resets sight mode (to correct a bug with aiming without image in lens)
Bug of no animation for picking objects from a third person view
Error 228, when special characters were used to name a preset
A bug with the blocking of further use of context voice lines, if you open the inventory during the sounding phrase
Bug, when on the items selection window for weapon crafting in the hideout, offered parts were already installed on the weapon
Bug, when the effect of "painkillers" or "stimulants" was removed earlier than the shown time
Bug, when the inventory broke down and caused an error, if in raid you removed weapons through Del key
Bug, when the explosion of frag grenades did not impose a contusion effect
Bug, when the gun stopped firing in automatic mode, if you start to quickly press the fire button before holding it
A bug, when the state of the stock fold was desynchronised , if an operation with the stock was performed during the operation with the object
Different bugs leading to a close enemy spawn
Bug, when the message counter increased by the number of unread messages when a new message was received after a raid
Tooltips and UI objects hanging in the interface
Bug when the image froze in the optics after using a thermal imaging device
Different bugs related to the ability to move items from not fully searched vests, backpacks, etc.
Desync of the price of quick health treatment
Bug with duplicate of Prapors' portrait in merchant menu
Fixed the duplicate image effect with heat haze effect
Bugs related to switching views to the hideout when the NVG on character is on
Error related to quick treatment when entering the Hideout
Bug, when the body took a static ragdoll position before touching the ground (problem with bodies hanging in the air)
Bug when the player would not receive the group status in the lobby
Bug when the resolution of the screen would not change after changing the screen mode
Bug, when you could open context menu in the window of item transfer
Error spam after suicide with a grenade, related to decal rendering
Bug, when jump action was in actions queue, if player tried to initiate jump, while laying down
Bug, when standing level didn’t decrease after quest fail
Bug of cycled animation, when installing weapon modifications while reloading
Bug, when healing wasn’t interrupted during load / unload of a magazine
Bug of healing animation getting stuck, while installing weapon modifications via DragNDrop
Bug of inability to unload a magazine, which was in the magazine case
Disabling buttons of installing and uninstalling video cards to a bitcoin farm, during sending of query related to interaction with them
Various fixes and visual improvements of interfaces
Bug, when changes to marker on a map were not saved
Bug, when game client was unable to close after 601 backend error for online and offline raids
Many different fixes on locations
Various fixes related to rain and soaking of surfaces
Various fixes for backend, related to increase the backend and overall game stability
Bug, when armor didn’t receive any damage from explosions of AGS and FN GL40 grenades
Delay before pulling the trigger of SV-98
Fixes related to delayed actions on the lobby screen when gathering a group
Bugs with the elite level of Vitality and Attention skills
Various fixes of minor bugs and errors
Stims and medical items now can remove contusion effect
Skills that require body hit to progress are not going to be progressed with your party members
When character is blind by flashbang, he will always reload with mag drop
Decreased damage radius of FN-GL40 grenades
Increased armor piercing of 7.62x25mm TT ammo
PC blocks now spawn ssd and sas drives, various big containers - various equipment - vests, backpacks etc. (in addition to existing loot)
Big plastic containers now spawn more items in general
Minor changes to AI scav loadouts
Increased fall damage
In the quest line The Tarkov shooter player now can use any bolt action rifle
Quest to unlock trader “Jeager” is now available after accepting of “Gunsmith 1” quest. Requirements for quest “Gunsmith 1” lowered to level 2
Reworked player spawn points at Reserve base location
Scav players spawn at the Reserve location is made later in time
Reduced the traders restock timer to about 2 hours (it was once every 3 hours)
The 12.8 patch will NOT be on this week! Need to polish everything!
PayPal vs Square: Which Fintech Stock Is A Better Buy?
The COVID-19 pandemic is accelerating digitalization and has led to a spike in online transactions and e-commerce sales. According to PayPal, the penetration of e-commerce as a percentage of retail sales in the first half of 2020 outpaced prior external forecast by 3 to 5 years. Both consumers and merchants are increasingly adopting digital payments as contactless transactions have become increasingly important amid the current crisis. The rapid penetration of digital payments led to double-digital revenue growth in the second quarter for PayPal and Square. Using the TipRanks Stock Comparison tool, we will place these two fintech payment firms alongside each other to assess which stock offers a more compelling investment opportunity. PayPal Holdings (PYPL) PayPal, which was spun off from eBay in 2015, has emerged as the digital payment leader. In the second quarter, PayPal added 21.3 million net new active accounts, reflecting a 137% Y/Y rise and marking the strongest growth in the company’s history thanks to a surge in e-commerce and digital payments. As of the end of 2Q, PayPal had 346 million active accounts with over 26 million merchant accounts. The company’s 2Q revenue surged 22.2% Y/Y to $5.26 billion. And adjusted EPS rose 49% to $1.07 as the adjusted operating margin expanded 504 basis points to 28.2%. Total Payment Volume or TPV, which indicates payments processed through the PayPal platform, grew about 29% to $222 billion. Venmo, Paypal’s mobile payments platform, witnessed a 52% growth in its TPV to $37 billion. Following the strong 2Q momentum, PayPal reinstated its 2020 guidance and in fact, raised it. The company expects revenue growth of 20% and adjusted EPS growth of about 25%. It anticipates adding 70 million net new active accounts this year. To boost its top-line further and promote touchless payments, PayPal launched QR Code technology in 28 markets globally in May. CVS Pharmacy will be the first retail chain to offer its customers the option to use PayPal and Venmo QR codes at checkout in its US stores. The company will also launch Venmo credit card this year. PayPal has also expanded its Visa Direct partnership globally to accelerate real-time access to funds for small businesses, consumers and partners across its platform. This collaboration enables PayPal to extend global white label Visa Direct payout services through PayPal and its Braintree, Hyperwallet and iZettle platforms. On Sept. 22, Mizuho Securities analyst Dan Dolev reiterated a Buy rating for PayPal with a price target of $285 as the Mizuho E-Commerce Tracker showed that unique views across key PayPal partner sites (like Etsy, Groupon and Wayfair) remained strong in July and August and also pointed to potential signs of life in the beleaguered travel category. The Tracker also indicated that PayPal’s unique views continued to grow ahead of partner websites in the last two months, reflecting persistent share gains for the checkout button. Overall, the analyst expects strong July and August e-commerce trends coupled with share gains to bode well for the company’s second-half TPV. (See PYPL stock analysis on TipRanks) PayPal stock has rallied about 74% year-to-date and could rise further by 17% in the coming months as indicated by the average analyst price target of $219.77. The stock scores a Strong Buy consensus based on 28 Buys, 5 Holds and no Sell ratings. Square (SQ) Payment facilitator Square is growing rapidly as consumers and businesses are migrating online at a faster pace amid the pandemic. From February through August 2020, there was a 13.2 percentage point increase in the share of Square sellers accepting online payments and by August, over 40% of all Square sellers were accepting online payments. Also, by August, more than 7 in 10 Square sellers were accepting contactless payments. The company’s Cash App ecosystem delivered $1.2 billion in revenue in the second quarter, reflecting a whopping 361% Y/Y growth. The Cash App had over 30 million monthly transacting active customers in June. Aside from the accelerated digital migration, Cash App also gained from the impact of Fed stimulus, unemployment checks and tax refunds. Second-quarter revenue grew about 64% Y/Y to $1.92 billion. But excluding bitcoin revenue, net revenue of $1.05 billion was flat Y/Y. Meanwhile, 2Q adjusted EPS declined 14.3% to $0.18. The strong growth in Cash App revenue was offset by the 17% decline in the company’s core higher-margin Seller business to $723 million. Square’s gross payment volume or GPV fell 15% Y/Y to $22.8 billion. The Seller segment was impacted by lower volumes as several businesses were forced to close amid the shelter-in-place orders triggered by the pandemic. However, the company stated that the Sellers business improved with each month in the quarter as restrictions eased and more sellers adapted to the contactless platform. Meanwhile, GPV from online channels grew over 50% and accounted for 25% of the Seller GPV reflecting the rapid adaption of online solutions by the sellers. (See SQ stock analysis on TipRanks) Recently, the company announced two new features called On-Demand Pay for employees and Instant Payments for employers. These new features will further integrate Square’s Seller and Cash App ecosystems to offer financial services and simplify payroll. Loop Capital analyst Kenneth Hill has just initiated coverage of Square with a Buy rating and a price target of $169. The analyst sees a great deal of upside ahead in the fintech company, driven by further investment in the business and monetization of the Cash App. Hill also believes that on the Seller side, the SMB network should "hold in well and continue a sustained recovery." The Street has a cautious Moderate Buy consensus for Square with 14 Buys, 12 Holds and 2 Sells. Square stock has risen a stellar 149% year-to-date, so the average analyst price target of $151.77 indicates a possible downside of 2.5% ahead. Bottom line Both PayPal and Square have strong growth prospects in the digital payments world. If we look at the Street’s consensus and further upside potential, PayPal stock appears to be a better choice than Square currently. To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. https://finance.yahoo.com/news/paypal-vs-square-fintech-stock-102007024.html
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!
Axion - A Global Currency, Built To Serve The People
What is Axion? Per Axion's website:
AXION is the answer to our global financial markets that are on the brink of disaster. The original solution to this impending collapse was Bitcoin, a decentralized peer-to-peer currency. However, since its inception, certain aspects of Bitcoin, such as lack of speed and high fees, have shifted Bitcoin into more of a store-of-value than a currency. Axion is the currency to address that. With a high-interest time-locked savings account, Participants in the Axion Network are rewarded daily.
Rewards people, not the corporate elite
Global & Scalable
How is AXION distributed?
Anyone holding Hex2T (pre-sale) tokens will receive AXION at a rate of 1:1
Hex holders will also receive AXION 1:1, limited at 10M AXION tokens. Hex holders will also be auto-locked for a year, with 2% releasing weekly. More details can be found in the whitepaper. If Hex holders do not claim their AXION tokens, they will become available for purchase in the Daily Auction every week.
The Daily Auction
Putting Tokens and Value into your pocket.
To get Axion, it needs to be claimed by Hex & Hex2T holders, the longer they wait to claim, the more penalties they face. About 2% of their total per week. This 2% is added into a daily auction pool where people can bid using ETH on the Axion tokens within it. If you bid 10% of the ETH on that day, you get 10% of the pool rewards. 80% of the ETH paid in the auction is then used to hyperdrive both the Axion token and the stakers earnings. First, the ETH is used to purchase the tokens, boosting the token price, and then those tokens are distributed to stakers, creating a very strong positive feedback loop.
Axion is on the path to becoming the ideal global currency.
For the first time in history, inflation is increasing the purchasing power of the people within the network. Axion has partnerships lined up to be integrated in online and in-person payment solutions, where you can pay for nearly everything in your every-day life using Axion. The merchants can accept FIAT (converted from Axion), or Axion itself. This is a global movement.
Axion: Built to Scale
500 Billion Initial Total Supply 1:1 Freeclaim ratio for Hex2T and Hex holders 80% of ETH Earned in auctions is used to buy back tokens 8% Annual inflation that goes Directly to stakers 100% of all purchased tokens Are distributed to stakers No Auto-Stake For hex2t holders 100% autostake for hex holders
How to buy:
**Video Tutorials:**Metamask Install – https://www.youtube.com/watch?v=htyEeKNHX5ABuy/Sell Axion (HEX2T) – https://www.youtube.com/watch?v=vYZBOkHIM5k How Do I Buy Axion (HEX2T)? Step One: Purchase Ethereum from your exchange of choice (Coinbase, Binance, etc). You can also purchase Ethereum through Metamask and have it sent directly to your Metamask wallet (More details on this in Step Three). If buying through Coinbase, you’ll have the option to use a linked bank account or a debit card. Funds purchased via linked bank account will have a hold period while the bank transaction clears, funds purchased via debit card will be available for use instantly. Step Two: Install the Metamask desktop browser extension and set up your Ethereum Wallet. You may also install the Metamask app on your Android smartphone and follow the same set up process in the linked video. (Apologies iOS users, the iOS Metamask app has restrictions that disable necessary features, you’ll have to use the desktop browser extension) Step Three: Once you have your Metamask wallet set up and your seed words properly saved, it’s time to deposit Ethereum to your wallet. – If you’ve purchased Ethereum on an exchange such as Coinbase or Binance, you’ll have to copy your wallet address from Metamask and withdraw the Ethereum from the exchange to your Metamask wallet address that you just copied. Be sure to check the wallet address multiple times before sending as transactions can not be reversed. – If you’d like to purchase Ethereum directly through Metamask, you can do so using the Wyre fiat gateway that is integrated into Metamask. Step Four: Now that you have Ethereum in your Metamask wallet, you can head over to our listing on the Uniswap Exchange to purchase Axion (HEX2T). We recommend using Fast GAS to speed up your transactions. You may also have to click on the gear icon in the top right on Uniswap to adjust your slippage limit when buying larger amounts. – If using the Metamask app on Android, you’ll have to access the in-app browser through the menu (three bars top left of app) and paste the provided link. – You will see a “From” input that should have ETH as the selected currency pointing to a “To (estimated)” output that should have HEX2T as the selected currency. The “From” input is the amount of Ethereum you will be spending and the “To (estimated)” output is the amount of HEX2T that you will receive for that amount of Ethereum. – Once you enter the amount of Ethereum you’d like to spend, the button at the bottom of the page should say “Approve”. This “Approve” function allows the exchange to access Ethereum in your wallet, which is necessary to complete this transaction. You’ll click the “Approve” button and the exchange will send a transaction to your wallet, which you will have to confirm. Wait for that Approve transaction to clear and once it does the button should change from “Approve” to “Swap”. – Now that you’ve given the exchange permission to use the Ethereum in your wallet, you can click the “Swap” button. This will send another transaction to your wallet that you’ll have to confirm. Once that transaction clears, you’ll have successfully purchased HEX2T with Ethereum! Side Note: If you can’t see the HEX2T that you’ve purchased in your Metamask wallet’s Asset list, you’ll have to add the token to your Asset list. At the bottom of the Asset list you will see an “Add Token” button, click on that and you’ll see a “Search” and a “Custom Token” tab. Click on the “Custom Token” tab and paste the following address (0xed1199093b1abd07a368dd1c0cdc77d8517ba2a0) into the “Custom Token Address” field, the rest of the info should auto-fill. Then click the “Next” button in the bottom right, and it should display your HEX2T balance, click the “Add Tokens” button and you should now see your HEX2T in your Asset list. **How Do I Sell Axion (HEX2T)?**To sell Axion (HEX2T), you essentially do the inverse of what you did to purchase it.Step One: Head over to Uniswap Exchange and click on ETH in the “From” input, a drop down list will appear and you’ll select HEX2T. In the “To (estimated)” output, click on “Select a Token” and select ETH. To clarify, if you want to sell, HEX2T should be on top, ETH should be on bottom. Step Two: Enter the amount of HEX2T you’d like to sell in the “From” input, the button at the bottom of the page should say “Approve”. This “Approve” function allows the exchange to access HEX2T in your wallet, which is necessary to complete this transaction. You’ll click the “Approve” button and the exchange will send a transaction to your wallet, which you will have to confirm. Wait for that Approve transaction to clear and once it does the button should change from “Approve” to “Swap”. – Now that you’ve given the exchange permission to use the HEX2T in your wallet, you can click the “Swap” button. This will send another transaction to your wallet that you’ll have to confirm. Once that transaction clears, you’ll have successfully sold HEX2T for Ethereum! If at any point you feel that you need help in this process, please do not hesitate to join our fast growingDiscordorTelegram.Once you’re in either of those communities you’ll be able to ask an admin or moderator for assistance.
Their legal proposal is 95% complete, per their Discord announcement - and most likely be finished in the coming days.
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