ATM Machines, ATM Processing, ATM Business Consulting

/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]

/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]

/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]

[uncensored-r/Bitcoin] /r/Bitcoin FAQ - Newcomers please read

The following post by BinaryResult is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
reddit: /Bitcoin/comments/6jlop4
The original post's content was as follows:

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
  • 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.
  • 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.
  • 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 - Transactions fees can vary between a few cents and a few dollars depending on network demand and how much priority you wish to assign to the transaction. Most wallets calculate the fee automatically but you can view current fees here.
  • Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
  • Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.
  • Pseudonymous - No need to expose personal information when purchasing with cash or transacting.
  • Secure - Encrypted cryptographically and can’t be brute forced or confiscated with proper key management such as hardware wallets.
  • Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being met
  • Nearly instant - From a few seconds to a few minutes depending on need for confirmations. After a few confirmations transactions are irreversible.
  • Peer-to-peer - No intermediaries with a cut, no need for trusted third parties.
  • Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply remembering a string of words for wallet recovery.
  • Scalable - Each bitcoin is divisible down to 8 decimals allowing it to grow in value while still accommodating micro-transactions.
  • Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiat
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.
  • If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor or Ledger is recommended. A more advanced option is to secure them yourself using paper wallets generated offline. Some popular mobile and desktop options are listed below and most are cross platform.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
  • If you prefer to let third party "Bitcoin banks" manage your coins, try Coinbase or Xapo 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.
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, 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, 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 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;
  • 1-3% savings over credit cards or PayPal.
  • No chargebacks (final settlement in 10 minutes as opposed to 3+ months).
  • Accept business from a global customer base.
  • Increased privacy.
  • Convert 100% of the sale to the currency of your choice for deposit to your account, or choose to keep a percentage of the sale in bitcoin if you wish to begin accumulating it.
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 ?BTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (?L) or micrometre (?m)
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:
  • 0.02 BTC
  • 20 mBTC
  • 20,000 bits
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 censorship_notifier to noncensored_bitcoin [link] [comments]

The Libertarian Society that Was.

For one week every year in the town of Lancaster, New Hampshire, something truly remarkable happens. Libertarians of all stripes and shades travel from around the world, from Mexico to Canada, from Australia to Great Britain, and create the society that they want to see. It is called the Porcupine Freedom Festival, or Porcfest for short.
There are no cops, there are no rulers, and the only laws that exist are the laws that exist between men as they deal with each other as equals. Gadsden flags ("Don't Tread on Me") and Market Anarchist flags (gold and black bisected) were waved instead of the usual Red White and Blue. Almost one in every three men had a sidearm strapped to their legs. People were excited about Bitcoin as a currency, and hopeful for the future.
I arrived on Wednesday night at around 11:30, and I did not have a campsite. I drove up and parked along the side of a path, and walked down a hill where I saw a large collection of party-goers hanging out in the rain beside a campfire. I walked down and met up with a friend of mine from London, named Harold. He stared at me for a second before drunkenly hugging me and making sure that I was provided with a beer. He then introduced me to his group of friends.
"This is Edward Snowden, everybody," he declared to those he was talking with. They laughed. I suppose I do bear some resemblance to the famed whistleblower, but I doubt my accomplishments will hold much light in comparison. Still, it wasn't the worst nickname I have been given.
Harold then led me to Jonathon, who is a man from French-Canada. Both of them had visited me at my house earlier in the week
I had loaned Harold one of my tents earlier in the week when he, along with Jonathon, had visited my house on their way to New Hampshire. They were being given rides by our friend Phillip, who was attending with his wife and his two daughters. While Phillip had opted for a hotel, they had opted for a campsite.
The tent that I had loaned him was apparently flooded. As such, Harold asked if he could sleep in my car. Jonathon, on the other hand, had brought his own setup, and it was very dry, and didn't need to use my vehicle for such things. I consented, and we decided to see if any food was available this late at night.
We found a vendor in a tent selling ice-cream. They accepted Bitcoin. I decided to try their ice cream, which they assured was made without the permission or license of the state. It was delicious and did not kill me.
We then wandered by to the fire with our ice cream. There was a man in nothing but a loincloth sitting on a picnic table, and he seemed to be selling moonshine. There were a few young men enjoying some cannibis. There was no more beer. I decided to go to bed.
The next morning, I met a man and a woman who were sitting on top of a large boulder that I'd apparently parked next to. They were watching the sunset, and I was told that if you sat on that rock, you'd have an amazing view. I took their word for it before I took a waddle around the campsite. It amazed me the sheer number of men walking around with all manner of firearms. The most common were hip-holstered openly carried pistols, but there were also several men wielding shotguns and semi-automatic (assumedly) sporting rifles. There was also a tent that I found with a class on constructing an AR-15. The class was 700 dollars. You kept the AR-15 you had built when the class was over.
The amount of vendors that were operating was also pretty interesting. There were hot-dog vendors, a bacon-pancake vendor, vegan and paleo specific foods, raw honey, and even entire bars and saloons with a wide assortment of strange spirits.
Other businesses included gold and silver trade, a Bitcoin ATM, blueprints for automatic weapons, unlicensed tattoo parlors, unlicensed casinos, and even a strip-club called the Thunderdome (I would give you the scoop on the happenings in there, but I abstained; those who did not inform me that I did not miss out on much).
We went on a beer run and headed away from the campsite past another campsite (one with a Christmas theme) and into the town of Jefferson. Even though it was less than 5 miles away from the campsite, few here seemed to know what Porcfest was. When told that Libertarians really liked New Hampshire, one local resident replied, "Why? There's nothing here."
Their pizza was good, their cigarettes (what Jonathon called "Darts") were cheap, and their alcohol was about what you'd expect at a gas station.
I spent that day talking with Jonathon, the Canadian man who I loaned my bed eariler in the week. He was 19 years old, and had been all over the world. He was well-travelled, and had spent his adult life so far travelling the world. He paid for this with undefined Bitcoin-related riches, no doubt an early investor.
Harold was a man in London who is an organizer for a Libertarian club and also heads the Anarcho-Capitalist Steam group, with over 800 members.
We did Karaoke that night, and though most of the singers were about what you expect at a Karaoke event (with me butchering Tainted Love by Soft Cell), Phillip from Ohio blew the crowds away with his rendition of Frank Sinatra's hit My Way, which spoke to the hearts of the freedom-loving crowd. Phillip was classically trained and had attended 4 years of voice school, and I sympathized with the act that followed his. The event was not a contest, but he won it anyway.
On Friday morning, I woke up early with Jonathon and Harold and we attended a safety brief for the range. A local gun range had agreed to allow us to shoot on their range, and an NRA instructor gave the classic safety rules to everyone, just in case they weren't aware of them previously. We then drove in a caravan over to the range, and were treated to a wide selection of highly powerful automatic weapons. For 25 dollars, you could get a 30 round magazine of 5.56 or 7.62 and safely fire it at a paper target through an M16 or an AK-47. I decided to skip that and fire a .50 caliber Desert Eagle.
It takes a lot to impress me when it comes to firearms, I've fired my fair share of fully-automatic weapons when I was in the infantry. From Ma Deuces to Saws, I've fired a lot of weapons. The Desert Eagle was, by far, the most absurdly over-powered. Needless to say, I'd like to own one.
.22 ammunition was free to shoot, so after firing the Deagle as it's called in the Counter Strike community, I went up and went plinking with a variety of .22 caliber rifles and pistols while my friends went crazy with M16s.
A gay dance party was held on Thursday night at the camp-site. I was told by one persona attending that it was easy to tell the gay people from the straight people there.
"The gay people are dressed normally," I was told.
I bought a cookie from a pair of sisters who were no older than 6 years. It was delicious, but 1 dollar for a cookie is a bit expensive in retrospect. Who can say no to kids selling cookies? Certainly not many of the people there. Even those who ate Paleo would taste a cookie if a 6 year old tried to sell it to them.
The Paleo diet is very interesting, as many of the people at this event would eat only paleo food. The diet of low-grain and primitive blueprints doesn't, on the surface, have anything in common with Libertarian philosophy or politics, so why was it that they were in such showing at the event? I may never know. Another oddity was the amount of Libertarians with beards. I do not refer to your typical goatee, but I instead talk of fully-blown lumberjack beards. Perhaps it's the fashion in New Hampshire, it'd certainly be in keeping with their reputation.
I took Jonathon and a man who runs a video-blog (Lengthyournarther on YouTube, but let's call him Steve) out to lunch. The wings had something to be desired, and the pizza seemed manufactured, but then again, Western New York sets the bar high in this regard, and I consider myself a connoisseur in this respect. When we got the bill, Steve decided to pay for his share with a 1 troy-ounce silver coin with a buffalo on it. Silver was regarded as acceptable all across Porcfest, but in the town of Lancaster, it wasn't as readily accepted. I, however, do accept Silver as a method of payment, and was more than willing to pay on his behalf for the shiny coin. Gold was also completely acceptable in Agora Valley (one name for the campsite), but neither of these were nearly as popular as Bitcoin. Everything was for sale if you had bitcoin, from guns to poker-chips to sex. There was a bitcoin ATM machine, and bitcoin stickers, and bitcoin shirts. I got a free shirt from a 12 year old that ran a booth. He surveyed me on my experience with bitcoin, and provided me a knife, an umbrella, a t-shirt, along with other goodies. It was, by any metric, a completely fair trade for me.
On the last night, I was getting rather tired. Too much alcohol and not enough sleep will get any man, and if you combine sunburn with these you get a man who is quite tuckered out. I attended a few folk-music concerts, saw a man get an entire tent hopping as a one-man band, and saw a large wooden porcupine get lit up in a bonfire. I went to bed early before my eyesockets got too heavy.
When I woke up on Sunday Morning, however, it was all gone. The booths were getting packed up, many people had already left, and people were wandering around cleaning up after themselves. I said goodbye to my friends, and after packing up my things, I began the long ride home.
At first, I was feeling rather somber for the fact that I would have to return to New York, a land of statism and silliness. The thought of leaving New Hampshire, where seat-belts are considered optional, was pretty depressing, but then I remembered some wisdom passed by Dr. Suess.
"Don't cry because it's over, smile because it happened".
Just over three days I spent in New Hampshire, partying and rallying with all manner of free people. That was enough to render me completely exhausted, but a younger man might want a bit more. For one week, in the tiny town of Lancaster, in Coos (pronounced "Koo-Ah-s") County New Hampshire, a Libertarian society existed. It was amazing due to what I saw, but also the things I didn't. It was liberating with what I could do, and also what I didn't have to do. It was amazing to be accepted as an individual, while being part of a larger group. It gave me a glimpse of what a Libertarian society could be, and hopefully, what such a society will be.
submitted by StarFscker to Anarcho_Capitalism [link] [comments]

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Crypto Musings on Our First Birthday

Crypto Musings on Our First Birthday
as fast as I an type . . .
I have been studying cryptos seven days a week for almost a year. One of our members has been mining for 52 months. We are busy with development, but my primary interest is political theory and psychology. For me, the most interesting thing about it all is not the money, but the theory!
There are plenty of players who've been around longer; but with respect, most are not oriented to analysing cryptos as a phenomenon.
Here are some random observations:

It's still early early days. Time is fore-shortened amazingly. We are still laughing at ourselves because we thought in May 2013 that it was all over! The 52-months miner recalls when there were only 5 coins in existence.

Get comfortable with being wrong. Chaos theory explains how 'unstable' an 'equation' is in accordance with the number of uncertain variables in that equation. The Crypto Equation is full of uncertain variables. We have seen our best estimations laid in the dust by developments.

For example, I guessed that 'the Mazacoin thing' would happen. But we sure didn't guess that weeks later six coins in the top forty would be 'nationals'; and then that just weeks later they would already mostly be where Greece Coin is this morning.
You can have a stab at trends (like 'nationals'); but estimations of their careers is almost impossible. So, be 'overtly theoretical.' Think big as a company policy.
(For example, IndiaMikeZulu has an in-house physical alternative currency backed 50/50 by silver bullion and Litecoin.)
Almost every utterly loony idea that we have touched upon has turned up in some coin or other.

Develop alliances with people you truly trust. There is far far far far too much data in this game for any one person to hold their own. My business partner holds all our coin, and does all our trading and tech stuff. I do all the development work -- all day on the phone. Our miner mines what we ask him to, and sends us a bill.

Know who you are!!

The crypto world has far far more than the average of lying scuzbag bastards. And the generally weak social skills of Net people exacerbate this problem: high volumes of low-quality 'info' in threads that get left behind by people who have charged off to The Next Big Social Media Instrument.
The crypto-sphere is under the sway of irrationalists and scammers and whales and pump-n-dumpers; and if you are oriented to cryptos as being 'transactional' rather than speculative, you had best consider this problem at length.

Once upon a time, Bitcoin was God, holding well over 90% of total crypto market-cap. Then coins began to sprout like mushrooms. Late last year, I was fascinated to note that Bitcoin's share of total cap had dropped to 75%.

Now grab a calculator. Bitcoin-plus-Top-Four holds well over 90% of cap today. Crypto money has 'backed up against' the Bitcoin pole. Money will surge back into altcoins when Bitcoin surges again; but big picture? When a tadpole becomes a frog, the head gets bigger . . . and the tail drops off!
I recall a day last December when six coins debuted on coinmarketcap in one day. About then, I wrongly predicted that the end of the altcoin proliferation must be imminent. We had Tittiecoin and Potcoin and other such lightweights falling like rain.
Yes, I was horribly wrong -- or was I?

Ten months ago, there existed a 'level' on which new coins existed for sometimes months before they got a listing on Cryptsy, then on coinmarketcap.

That is, a coin was created; then its development began; it struggled for months to get a listing on a small exchange -- there were so few exchanges!! -- then WHAM!! -- debut on Cryptsy/coinmarketcap.
But the proliferation of exchanges has changed that. Many new coins sort of 'dribble' onto the scene, with a listing on two exchanges on Day One . . . but no volume or price. Or ethics. Or community. Or development-plan.
Shun these coins!! They embarass us all -- but do so civilly. Our historians will see us -- quite rightly -- as overwrought characters shouting rude words in size-400 fire-engine-red letters upon all too little provocation.
The earlier reality pressured coin-creators into making coins that would survive that period on that 'level'; but now coins of no quality at all can be launched because that constraint is no more. Scam coins were more likely to be run to ground in the earlier model -- although now people are much better able to recognise Dross Coin for what it is.

The whales remain The Biggest Problem. It may be that they are an aspect of the nature of it all -- but that's not the same as not working hard to constrain them. Don't forget that whales can wait for years, then reap immense profit.

Those with political backgrounds outside cryptos understand this phenomenon. It is the 'trusts' of the U.S. in the 1930's. It's the oligopolies of the present global banking-system.
Over time, I suspect that a movement will produce coins aimed at taming this problem (I have one theorised, ready to go today, in the closet.).
Think of it this way, if such a reality of 'insider trading' existed in the Real World, libertarians would be squealing like pigs about it.
In short, many cryptos are now 'de facto centralised.'

There is a need for more 'people-ness' in the crypto movement. We used to joke in the Regular Army about the Mythical Foo Foo Bird, which flies around in ever smaller circles until it disappears up its own arsehole. Speaking as an outsider to the Net -- 'on' it but not of it, so to speak -- I note how truly fantastically divorced from normal human society many of the denizens and development tactics are. XXX sites and drug-selling sites and computer-equipment sites are not the be all and end all of crypto use -- it's the foo-foo bird. It's time to take cryptos to the streets.

The citizens of the western world are nearing some sort of social implosion:

peak oil, peak soil, peak water, peak people; debt, militarism, 'social incoherence,' climate change (whether it's us or not) -- and did I mention debt?
The Internet isn't goin' away -- but think about whether it is a fact of social affluence? or serving more basic functions?
The libertarian crypto-coiners should be all over this. They stand to gain enormously by positioning cryptos to be central to a post-affluence Net environment.

One clear pattern:

once upon a time, Bitcoin hadn't been discovered. Then it had -- we bought our first Bitcoin for $125; but I spoke to a business person who sold a bunch of cows for 100 BTC @ $45. You can guess which day he cashed out!
The following is clear, and should serve to maintain the spirits of all right-hearted crypto-folk:
if you 'strip out' the 'knocks,' the price of cryptos has gone up. Simple as that!!
Indiamikezulu came onto the stage with wide eyes and a tiny budget and a commitment to the politics. For a while, it all just seemed chaotic (and we traded the chaos. It's amazing how many people don't count fiat currency in their arsenal. Always have some fiat currency ready to buy in when Shit Happens!!).
What sustained us was the steady proliferation of Stuff That You Could Buy with Cryptos. The list, on Our Day One (in Australia) was almost nothing. (and we recall when a third coin became tradeable in fiat!! Wow!!).
Think of (a) places where you can spend cryptos, and (b) more public knowledge of cryptos, and (c) more technology to move cryptos about -- like ATM machines -- as 'the base' of the crypto-phenomenon 'pyramid.' Think of the rise and fall in crypto market-cap (prices) as the 'height' of the pyramid.
Well, the long-term equation is:
governments will 'smack down' cryptos as hard as they dare to, and prices will rise and fall on that basis ('height of the pyramid'); but the primary indicator is the 'width of the base.'
Check today's coindesk.com articles. Bitcoin fuel pumps? La Maison du Bitcoin? Pryptos? Venture Capital flowing in? A year ago, that would have been simply unbelievable. 72 months ago, they'd have put you in a rubber room for sayin' it out loud!

Don't focus on cryptos as 'currencies.' Focus on them as 'currencies/technologies.' It's the technologies that will ultimately facilitate their mainstream acceptance (other than the 'dark' aspects . . . ).

Indiamikezulu -- me -- loves terms. We see Bitcoin as 'Gen-1.' We shouted out 'GEN-2!!' the day we discovered Nxt (and bought 410K). Ripple and Mastercoin (whether they succeed or not . . . ) are Gen-3
But we see Crypto 2.0 as the future.

The other half of this is the irationalism of My Coin. Those who choose to 'stand back from it all' can see this plainly.

In a strictly logical model, everyone would segue from old coins to new coins, and simply dump the old ones -- as we do with cars, music systems, tv's, planes, toasters, and washing machines. But humans get attached to stuff, so there will be a weird interplay between sticking with My Coin, and moving to Better Coin.

This brings us to 'coin disposition.' We work very consciously on the 'Suite-of-Coins Principle.' No one coin is going to 'win.' So, have a cool-headed policy whereby you 'dispose' your holdings in a number of currrencies.

For example, Doge is a great coin. I love Dogecoiners -- but I wouldn't want my superannuation invested in it.
Tiny-cap coins fascinate me (for the libertarian aspects); but you wouldn't use one in a commercial-development project simply because they lack the volume you need to jump from cryptos to fiat.
Coins like Ether might hardly exist at present, but we feel strongly that we can't afford not to hold some.
We took a knock on some of these 'post-Gen-1' coins that we felt that we had to hold; but we came out ahead. Our insight is:
if you break even on 6 out of 10, and lose a packet on 1 out of 10, the last 3 will leave you way way ahead.
So, do think about being a 'crypto-coiner' rather an 'X-coin person.' Change is the only constant.
Finally: Be the Bourse!!
Speaking as a political theorist, I find it strange/entirely predictable that the crypto thing went so fast from the doggedly peer-to-peer nature it had when a pizza cost 10 000 Bitcoin to the centralised model we have now.
Imagine you were in China -- or India or Russia (or Lebanon or Iceland or or or . . . ). By developing a 'diffused' model,' you would have cryptos in use exactly as cryptos would be in use in the libertarian model: the slow-motion 'price discovery' of community exchanges tames volatility. Peer-to-peer trading strengthens community. It helps to shield cryptos from the state.

When you are explaining crypto security to newcomers, be careful to separate the nature of exchanges from the cryptographic security of the currencies in general. Automated exchanges are a luxury not a necessity. They are an instrument of speculation.

Recall that the collapse of Mt Gox had nothing to do with cryptographic currencies. It had to do with a 'superstructure' of shoddy exchange architecture.
(Who noticed that Australia's NAB bank cited Mt Gox as a reason for its position on cryptos -- but wait!! What does Mt. Gox have to do with people who trade fiat-to-crypto for businesses? or just as a hobby? or as development of the technology? Answer: nothing!!)
Thank you for time.
Mark
submitted by indiamikezulu to CryptoMarkets [link] [comments]

First time i Use a Bitcoin ATM How to buy bitcoin at ATM CoinMe Bitcoin Depot - How to get Bitcoin Cash from an ATM How to get 100% FREE UNLIMITED Bitcoin in 2020!  New Easy Working Method bitcoin atm near me

Foody Mart 10008 156 St NW, Edmonton, AB T5P 2P8 Get Directions Supported: Fees: Buy 14% from Bitpay + $4 This is a clickable, up-to-date list of all Coinsource Bitcoin ATM locations in the U.S. ATM Finder; Near Me. Search. Fee-Free ATMs. ATMs on this map are fee-free for all Simple customers. There may be additional ATMs that aren't shown here. Check your mobile app for the most up-to-date locations. While some ATMs on this list may warn you about a surcharge, they won't actually charge you. In the unlikely event that you are charged Unlike traditional money, Bitcoin is created and held electronically with no one single owner. People, as well as businesses worldwide, continue to use Bitcoin for buying and selling goods and services. Besides Bitcoin, you can also buy Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH) from our machines. The amount of bitcoin ATM machines have doubled just in a single year. And there are no signs of stopping. At this rate, it may even double AGAIN in 2018. Here is a chart that shows the amount of Bitcoin ATM installations currently being installed TODAY: 6.72 bitcoin ATMs per day x 365 days = 2.759.4 MORE bitcoin ATM machines a year from now.

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First time i Use a Bitcoin ATM

Hi my name is glen and i am about to start my bitcoin (please go easy on me bitcoin Gods) a cryptocurrency journey and i want you the viewer to join me for the ride for the ups and downs so maybe ... How to use and buy bitcoin from your local CoinMe ATM Simply put money into ATM and buy bitcoin onto your Bitcoin Wallet. Don't have an Bitcoin ATM near you? No problem. Open an online bitcoin ... How to Find the bitcoin atm machine near me? Find the Bitcoin atm locations open now all located in neighborhoods near you. -----... – Bidirectional ATM machines – the new breed of bitcoin ATMs allow users to sell and buy bitcoins in a quick and easy manner. How to use a bitcoin ATM Machine (Step by Step) 1. Allpoint provides you with the freedom to get your cash where you want, when you want, wherever you are... without the ATM fees. With over 55,000 ATMs in the Allpoint Network, your cash is never ...

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