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 for Beginners is a subreddit for new users to ask Bitcoin related questions. **Do not respond to strangers direct messaging you, as over 99% of these people are Scammers.** This subreddit allows open discussion where peer review occurs. /BitcoinBeginners is not for posting new websites, memes, faucets, affiliate links, news, concern trolling, blog articles, or promoting altcoins and ICOs. **Bitcoin related Questions only** No url shorteners (auto spam)
How is Bitcoin currency effected by foreign exchange rates?
Say I have 1 BTC. It's current worth is $660 Dollars. I am from South Africa so that translates to ~R9,500. Say over time the South African Rand becomes weaker to the Dollar, but i still own that single BTC and its worth in dollars is still the same - $660. Would I therefore have more than R9,500? This may seem like a simple question to most but I'm having a brain fart and can't seem to find the answer, my google skills are terrible
I think the goals of the Bitcoin community are noble, and I think the idea of a decentralized currency is a good one. However, it just seems like the people who get Bitcoin don't own it to use as a currency and spend it in the market, but rather to use it as a volatile investment and make money. Will Bitcoin ever become a currency in its own right, or will it fizzle out after the opportunity to make money has died out? Without people using them in a market or spending them on goods and services, I fear that is what will happen.
PSA: Someone is using a bot to downvote everything in this subreddit. For newcomers, please know that Bitcoin Cash has been under attacked for the last 4 years because Bitcoin Cash, a global peer to peer cash system, is a threat to banks and fiat currencies.
I have used bitcoin to make money via buying and selling of goods, etc. most people use Crypto's as a speculative investment tool but the truth is it is an actual currency one that has no restriction's or borders. Stop thinking of it as a speculative investment tool and start thinking of it as currency become a crypto entrepreneur put your money where your mouth is if you want to see it fully grow to compete with fiat. EDIT:I thought this deserved to be on the OP "There is nothing in the bitcoin whitepaper about solving the problem of deflation except the libertarianism that back's it if supply becomes too high and demand becomes too low then the market will crash Bitcoin solved scarcity and inflation It did not solve deflation" Encourage people to use it as money or the house will fall
Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the ... Young, tech-savvy populations that have adapted quickly to bitcoin; weaker local currencies that make it harder to get U.S. dollars, the de facto currency of global trade; and complex bureaucracy ... Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part . Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to ...
Craig Wright: Bitcoin is not a cryptocurrency - YouTube
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