/r/Bitcoin

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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.Bitcoin
Updated: 25 min 9 sec ago

Roger Ver alone is the number one on crypto making people lose money

5 hours 33 min ago

-mtgox fiasco (promoting deposits on a insolvent exchange). -bcash/bch(price fallen +65%) -cloud mining scam on bitcoin.com -fake satoshi ally propaganda -...and it just keeps going

submitted by /u/linktype
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Today I told my dad to buy bitcoins. He told me they were in a bubble and it was surely going to pop. This is what I told him.

7 hours 14 min ago

To be more precise, he said something more along the lines of "5600 dollars for a single bitcoin? That is ridiculous. No matter what uses this thing has, they don't warrant that."

I asked him what is the smallest unit of a US dollar, or a Brazilian real. "Well, that's the cent," he told me.

"Correct. And with the current exchange rates you can buy a cent of a dollar with about 3.4 cents of a real. The smallest unit of both coins is a division of it by a hundred. That's not the case with the bitcoin. The smallest unit of a bitcoin is a satoshi; a bitcoin divided by a hundred million. Right now, there are about one quadrillion, six hundred and sixty billion satoshis. At the current conversion rate, a satoshi is less than a hundredth of a dollar cent. That's the real conversion rate. "

Then he got it. He still doesn't quite understand that bitcoin is in an inverse bubble though, but that's a lesson for another time.

submitted by /u/LordBaconus
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Those who doubted or were ignorant to Bitcoin before, are complaining about early-adopter bias and unfair distribution now.

8 hours 55 min ago

You can't have it both ways. You don't get to dismiss or ignore a technology until it is ubiquitous worldwide; and then claim you should have been included earlier; You don't get to claim that it's unfair that those who chose not to dismiss or ignore Bitcoin, are now financially successful.

Everyone had an opportunity to buy Bitcoin early. And you still have an opportunity to buy now. If you think the price is going up, if you're so sure that this new class of rich people are going to succeed in their investment going forward, then you would be well advised to invest EVERYTHING NOW, no matter the current price. The only thing holding you back is YOU.

submitted by /u/chocolatesouffle3
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Last night I offered to pay my waiter his tip in BTC. He was so down.

9 hours 14 min ago

inb4 "don't do this since waiters have to declare their tips"

inb4 million dollar tip

Bitcoin does not exist to circumvent taxation. If waiters choose not to declare their income, they are breaking the law plain and simple. We don't need digital government surveillance of our money in order to be law abiding, tax paying citizens. Thats exactly the point of living in a free country.

Anyway he was super down but said he would need to run to his locker to get his BTC wallet address, which was in his phone. We agreed there wasn't enough time, but he told me he was going to keep it on him from now on so that future clients could tip with BTC!

He knew all about bitcoin and was super stoked about my offer.

EDIT: Apparently people don't use "down" as a term of willingness or agreement everywhere. We've been saying it for a while here in Montreal, but I digress. Anyway, the waiter was "stoked".

submitted by /u/lazmanc
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2010 sucked

12 hours 39 min ago

I came here to speculate and make money but am now a lifer because this is the closest thing I have seen to true democracy. Every person being able to vote (BIP) on the future of their monetary is policy is something we should have in 2017. We are...

13 hours 29 min ago

The money I have made isn't as valuable as what the hundreds of hours of research into this tech has shown me. if we disagree fork the chain and may the best idea win.

submitted by /u/Let_It_Steep
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