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Microcash - General Discussion

Microcash is a new form of cryptographic currency, currently under development. Bitcoin has been a genius proof-of-concept and proof-of-adoption digital commodity. The Microcash project hopes to vastly improve upon the distributed cryptographic currency idea with numerous innovations that current crypto-currencies cannot implement due to the nature of the bitcoin protocol.
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StuffPoints

StuffPoints is one of the easiest and fun places on the web to make money.
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Nutcoin

Nutcoin - The Anti Scarcity Stabilized Currency
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Evolution of the value of bitcoin in dollars from 2014 to today (2019)

Evolution of the value of bitcoin in dollars from 2014 to today (2019) submitted by demangejeremy to Bitcoin [link] [comments]

Why Bitcoin is Superior to Gold

There is a constant war being fought between goldbugs, like Peter Schiff, and Bitcoin enthusiasts so I decided to make an outline, with links, comparing and contrasting gold and Bitcoin. I made this in November of 2019 (thus the information therein is based on figures from that time) but, being scatter brained, neglected to post this for the Bitcoin community to see. The yardsticks I used to compare the two assets included the following: shipping/transactions costs, storage costs, censorship factor, settlement time, stock to flow, blockchain vs clearing house, validation, etc. I will also touch on Roosevelt's gold confiscation executive order in 1933, transporting gold during the Spanish Civil War in 1936, and the hypothetical cost for Venezuela to repatriate its gold more recently.
I will provide a brief summary first then follow that with the outline I made. This information can be used as a tool for the Bitcoin community to combat some of the silly rhetoric coming from goldbugs such as Peter Schiff and James Rickards. I would like to make it clear, however, that I am not against gold and think that it performed its role as money very well in a technologically inferior era, namely Victorian times but I think Bitcoin performs the functions of money better than gold does in the current environment.
I have been looking to make a contribution to the Bitcoin community and I hope this is a useful and educational tool for everyone who reads this.
Summary:
Shipping/transaction costs: 100 ounces of gold could be shipped for 315 dollars; the comparable dollar value in Bitcoin could be sent for 35 dollars using a non-segwit address. Using historical precendent, it would cost an estimated $32,997,989 to transport $1 billion in gold using the 3.3% fee that the Soviets charged the Spaniards in 1936; a $1 billion Bitcoin transaction moved for $690 last year by comparison. Please note that the only historic example we can provide for moving enormous sums of gold was when the government of Spain transported gold to Moscow during the Spanish Civil War in 1936. More information on this topic will be found in the notes section.
Storage costs: 100 ounces of gold would require $451 per year to custody while the equivalent value of Bitcoin in dollar terms could be stored for the cost of a Ledger Nano S, $59.99. $1 billion USD value of gold would cost $2,900,000 per year while an Armory set up that is more secure would run you the cost of a laptop, $200-300.
Censorship factor: Gold must pass through a 3rd party whenever it is shipped, whether for a transaction or for personal transportation. Gold will typically have to be declared and a customs duty may be imposed when crossing international borders. The key take-away is gatekeepers (customs) can halt movement of gold thus making transactions difficult. $46,000 of gold was seized in India despite the smugglers hiding it in their rectums.
Settlement time: Shipping gold based on 100 ounces takes anywhere from 3-10 days while Bitcoin transactions clear in roughly 10 minutes depending on network congestion and fee size.
Historic confiscation: Franklin Roosevelt confiscated and debased the paper value of gold in 1933 with Executive Order 6102. Since gold is physical in nature and value dense, it is often stored in custodial vaults like banks and so forth which act as a honeypot for rapacious governments.
Stock to flow: Plan B's stock to flow model has become a favorite on twitter. Stock to flow measures the relationship between the total stock of an asset against the amount that is produced in a given year. Currently gold still has the highest value at 62 while Bitcoin sits at 50 in 2nd place. Bitcoin will overtake gold in 2024 after the next halving.
Blockchain vs clearing house: gold payments historically passed through a 3rd party (clearinghouse) in order to be validated while Bitcoin transactions can be self validated through the use of a node.
Key Takeaway from above- Bitcoin is vastly superior to gold in terms of cost, speed, and censorship resistance. One could theoretically carry around an enormous sum of Bitcoin on a cold card while the equivalent dollar value of gold would require a wheelbarrow...and create an enormous target on the back of the transporter. With the exception of the stock to flow ratio (which will flip in Bitcoin's favor soon), Bitcoin is superior to gold by all metrics covered.
Notes:
Shipping/transaction costs
Gold
100 oz = 155,500. 45 x 7 = $315 to ship 100 oz gold.
https://seekingalpha.com/instablog/839735-katchum/2547831-how-much-does-it-cost-to-ship-silver-and-gold
https://www.coininvest.com/en/shipping-prices/
211 tonnes Venezuela; 3.3% of $10.5 billion = 346,478,880 or 32,997,989/billion usd
http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/ (counter party risk; maduro; quotes from article)
Bitcoin
18 bitcoin equivalent value; 35 USD with legacy address
https://blockexplorer.com/
https://bitcoinfees.info/
1 billion; $690 dollars
https://arstechnica.com/tech-policy/2019/09/someone-moved-1-billion-in-a-single-bitcoin-transaction/
Storage costs
Gold
.29% annually; https://sdbullion.com/gold-silver-storage
100 oz – $451/year
$1 billion USD value – $2,900,000/year
Bitcoin
Ledger Nano S - $59.00 (for less bitcoin)
https://shop.ledger.com/products/ledger-nano-s/transparent?flow_country=USA&gclid=EAIaIQobChMI3ILV5O-Z5wIVTtbACh1zTAwqEAQYASABEgJ5SPD_BwE
Armory - $200-300 cost of laptop for setup
https://www.bitcoinarmory.com/
Censorship factor (must pass through 3rd party)
Varies by country
Gold will typically have to be declared and a customs duty may be imposed
Key take-away is gatekeepers (customs) can halt movement of gold thus making transactions difficult
$46,000 seized in India
https://www.foxnews.com/travel/indian-airport-stops-29-passengers-smuggling-gold-in-their-rectums
Settlement time
Gold
For 100 oz transaction by USPS 3-10 days (must pass through 3rd party)
Bitcoin
Roughly 10 minutes to be included in next block
Historic confiscation-roosevelt 1933
Executive Order 6102 (forced spending, fed could ban cash, go through and get quotes)
https://en.wikipedia.org/wiki/Executive_Order_6102
“The stated reason for the order was that hard times had caused "hoarding" of gold, stalling economic growth and making the depression worse”
Stock to flow; https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25 (explain what it is and use charts in article)
Gold; SF of 62
Bitcoin; SF of 25 but will double to 50 after May (and to 100 in four years)
Blockchain vs clearing house
Transactions can be validated by running a full node vs. third party settlement
Validation
Gold; https://www.goldismoney2.com/threads/cost-to-assay.6732/
(Read some responses)
Bitcoin
Cost of electricity to run a full node
Breaking down Venezuela conundrum; http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/
“The last (and only) known case of this kind of quantity of gold being transported across state lines took place almost exactly 75 years ago, in 1936, when the government of Spain removed 560 tons of gold from Madrid to Moscow as the armies of Francisco Franco approached. Most of the gold was exchanged for Russian weaponry, with the Soviet Union keeping 2.1% of the funds in the form of commissions and brokerage, and an additional 1.2% in the form of transport, deposit, melting, and refining expenses.”
“Venezuela would need to transport the gold in several trips, traders said, since the high value of gold means it would be impossible to insure a single aircraft carrying 211 tonnes. It could take about 40 shipments to move the gold back to Caracas, traders estimated. “It’s going to be quite a task. Logistically, I’m not sure if the central bank realises the magnitude of the task ahead of them,” said one senior gold banker.”
“So maybe Chávez intends to take matters into his own hands, and just sail the booty back to Venezuela on one of his own naval ships. Again, the theft risk is obvious — seamen can be greedy too — and this time there would be no insurance. Chávez is pretty crazy, but I don’t think he’d risk $12 billion that way.”
“Which leaves one final alternative. Gold is fungible, and people are actually willing to pay a premium to buy gold which is sitting in the Bank of England’s ultra-secure vaults. So why bother transporting that gold at all? Venezuela could enter into an intercontinental repo transaction, where it sells its gold in the Bank of England to some counterparty, and then promises to buy it all back at a modest discount, on condition that it’s physically delivered to the Venezuelan central bank in Caracas. It would then be up to the counterparty to work out how to get 211 tons of gold to Caracas by a certain date. That gold could be sourced anywhere in the world, and transported in any conceivable manner — being much less predictable and transparent, those shipments would also be much harder to hijack. How much of a discount would a counterparty require to enter into this kind of transaction? Much more than 3.3%, is my guess. And again, it’s not entirely clear who would even be willing to entertain the idea. Glencore, perhaps?”
“But here’s one last idea: why doesn’t Chávez crowdsource the problem? He could simply open a gold window at the Banco Central de Venezuela, where anybody at all could deliver standard gold bars. In return, the central bank would transfer to that person an equal number of gold bars in the custody of the Bank of England, plus a modest bounty of say 2% — that’s over $15,000 per 400-ounce bar, at current rates. It would take a little while, but eventually the gold would start trickling in: if you’re willing to pay a constant premium of 2% over the market price for a good, you can be sure that the good in question will ultimately find its way to your door. And the 2% cost of acquiring all that gold would surely be much lower than the cost of insuring and shipping it from England. It would be an elegant market-based solution to an artificial and ideologically-driven problem; I daresay Chávez might even chuckle at the irony of it. He’d just need to watch out for a rise in Andean banditry, as thieves tried to steal the bars on their disparate journeys into Venezuela.”
submitted by cornish_roots to Bitcoin [link] [comments]

In Alien, the starship that Ripley blew up cost only $42million. Today, SpaceX Starship will cost at least $2billion to develop. This gives us a sense of how inflation has changed the perception of dollar value since 1979, and why the crypto movement began in Bitcoin.

In Alien, the starship that Ripley blew up cost only $42million. Today, SpaceX Starship will cost at least $2billion to develop. This gives us a sense of how inflation has changed the perception of dollar value since 1979, and why the crypto movement began in Bitcoin. submitted by decuneiform to CryptoCurrencies [link] [comments]

Largest dollar value transaction in Bitcoin's history! $1.1B (88,857 BTC) moved for a fee of just $3.58 (x-post from /r/Cryptocurrency)

Largest dollar value transaction in Bitcoin's history! $1.1B (88,857 BTC) moved for a fee of just $3.58 (x-post from /Cryptocurrency) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Bitcoin’s value theoretically only grows because it’s like a battery in some sense. You can buy bitcoin today with money you earned working, but you can have more faith the value of bitcoin will remain over a longer time horizon than the dollar. +3

submitted by Arctinius to ShitPoliticsSays [link] [comments]

@TheEconomist: The dollar fell by more than 4% against a basket of other major currencies in July, the largest monthly decline in a decade, as the value of euros, gold and bitcoin soared https://t.co/TlQefjkisu

@TheEconomist: The dollar fell by more than 4% against a basket of other major currencies in July, the largest monthly decline in a decade, as the value of euros, gold and bitcoin soared https://t.co/TlQefjkisu submitted by -en- to newsbotbot [link] [comments]

Hello community, I come here to share my bitcoin analysis, for that I used the excel function (forecast spreadsheet), put the values of prices in dollars in the daily period, did the same with the capitalization market values and made a graph combining the values,

Hello community, I come here to share my bitcoin analysis, for that I used the excel function (forecast spreadsheet), put the values of prices in dollars in the daily period, did the same with the capitalization market values and made a graph combining the values, submitted by midasilva to CryptoCurrency [link] [comments]

The Bitcoin equivalent of finding change in the Couch Cushion, is finding some unspent Bitcoin on an old broken phone. Except the value has gone up, from the $30 dollars it was worth at the time.

The Bitcoin equivalent of finding change in the Couch Cushion, is finding some unspent Bitcoin on an old broken phone. Except the value has gone up, from the $30 dollars it was worth at the time. submitted by scgco to GGCrypto [link] [comments]

Just remember that "prices" are just a subjective way for people to measure how much they value something using numbers. We don't have to think about the price of Bitcoin in terms of Dollars. That's just how we're conditioned. We could start pricing Bitcoin in terms of time and energy instead.

But way or another, Bitcoin will win out because it is the fairest and most secure accounting information system that the world has ever seen.
submitted by the420chronicler to Bitcoin [link] [comments]

03-19 13:25 - 'Good job a shit load of Tether dollars have just been printed, I mean come on scam or what miners desperate for price rises and there you go a load of new Tether tokens. / Where is the value in Bitcoin 😂.' by /u/CreepyCranfield9 removed from /r/Bitcoin within 356-366min

'''
Good job a shit load of Tether dollars have just been printed, I mean come on scam or what miners desperate for price rises and there you go a load of new Tether tokens.
Where is the value in Bitcoin 😂.
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: CreepyCranfield9
submitted by removalbot to removalbot [link] [comments]

I have a question about using Btc to make purchases. Say I have 100 in btc to buy something then the value of btc goes down and that’s now only worth 90 dollars. What do I do then? Do I just use more bitcoin to pay for it?

submitted by titaniccon1 to btc [link] [comments]

How Bitcoin & Bitcoin Cash's currency issuance schedules compare with the US dollar and fiat-based currencies. Are BTC & BCH inflationary or deflationary? Which is a better store of value in the long run?

How Bitcoin & Bitcoin Cash's currency issuance schedules compare with the US dollar and fiat-based currencies. Are BTC & BCH inflationary or deflationary? Which is a better store of value in the long run? submitted by ColinTalksCrypto to btc [link] [comments]

How Bitcoin's currency issuance schedule compares with the US dollar and fiat-based currencies. Is Bitcoin inflationary or deflationary? Which would be a better store of value in the long run?

How Bitcoin's currency issuance schedule compares with the US dollar and fiat-based currencies. Is Bitcoin inflationary or deflationary? Which would be a better store of value in the long run? submitted by ColinTalksCrypto to Bitcoin [link] [comments]

Bitcoin are digital and online currencies, they are like the dollars, pounds, euros.But, online and valued than these physical currencies. Bitcoin in question is a type of cryptography currency and the most valuable. 1BTC today is valued much in dollar it has a very high appreciation rate and its co

Bitcoin are digital and online currencies, they are like the dollars, pounds, euros.But, online and valued than these physical currencies. Bitcoin in question is a type of cryptography currency and the most valuable. 1BTC today is valued much in dollar it has a very high appreciation rate and its co submitted by ryan_joes to u/ryan_joes [link] [comments]

How Bitcoin & Bitcoin Cash's currency issuance schedules compare with the US dollar and fiat-based currencies. Are BTC & BCH inflationary or deflationary? Which is a better store of value in the long run?

How Bitcoin & Bitcoin Cash's currency issuance schedules compare with the US dollar and fiat-based currencies. Are BTC & BCH inflationary or deflationary? Which is a better store of value in the long run? submitted by ColinTalksCrypto to Bitcoincash [link] [comments]

How does Bitcoin affect other Crypto?

If you have an idea how Forex exchange works then you will have an easy time understanding things. Bitcoin is like the US dollar in forex exchange. Bitcoin is the central currency and has served as a medium of exchange between cryptocurrencies. This implies that in order for us to compute the value of an altcoin we must consider this formula:

  1. The value of bitcoin in dollar
  2. The price of an altcoin in bitcoin form
  3. Multiply the value of bitcoin (1) to the corresponding bitcoin equivalent or value of the altcoin (2) then you have the real value of an altcoin.

This implies that the value of an altcoin is dependent on the value of bitcoin in the market.
submitted by emma1890 to u/emma1890 [link] [comments]

How Bitcoin's currency issuance schedule compares with the US dollar and fiat-based currencies. Is Bitcoin inflationary or deflationary? Which would be a better store of value in the long run?

How Bitcoin's currency issuance schedule compares with the US dollar and fiat-based currencies. Is Bitcoin inflationary or deflationary? Which would be a better store of value in the long run? submitted by ColinTalksCrypto to CryptoCurrency [link] [comments]

How Bitcoin's currency issuance schedule compares with the US dollar and fiat-based currencies. Is Bitcoin inflationary or deflationary? Which would be a better store of value in the long run?

How Bitcoin's currency issuance schedule compares with the US dollar and fiat-based currencies. Is Bitcoin inflationary or deflationary? Which would be a better store of value in the long run? submitted by scgco to GGCrypto [link] [comments]

Fiat pegged value is illusory: A gallon of milk now cost roughly twice what it did 10 years go in US dollars. A gallon of milk costs about 1/1000 what it did in bitcoins 5 years ago.

Fiat pegged value is illusory: A gallon of milk now cost roughly twice what it did 10 years go in US dollars. A gallon of milk costs about 1/1000 what it did in bitcoins 5 years ago.
Yet people say fiat like the us dollar is somehow more secure. They talk aboit bitcoin not being "pegged" to anything.. No paper currency is pegged to anything and since all governments are printing paper currency endlessly it is guaranteed to slip in value more than something like bitcoin which is firmly limited in number to apprx 21 million.
Fiat Currency is demonstrably LESS "pegged" as the numbers above show.
So many concepts that people throw around as criticisms of bitcoin they universally accept with their fiat without even a thought.
submitted by Waswasz to Bitcoin [link] [comments]

Futures trading based on the dollar artificially inflates bitcoin, ruining it as a store of value in the process.

Based on the fact that futures trading can artificially inflate or deflate bitcoin, without the speculators actually having to buy bitcoins, this process ruins the whole concept of finite supply, in this scenario bitcoin fails to be a store of value as it was once considered and becomes something far less reliable.
http://genesisblocknews.com/paper-bitcoins-have-the-potential-to-ruin-the-bitcoin-market/
https://news.bitcoin.com/how-bitcoin-futures-products-affected-cryptocurrency-markets-in-2018/
submitted by HenryHasComeToSeeUs to Bitcoin [link] [comments]

TIL less than .18% of all people in the world have bought any Bitcoin. Combined, 53% of Bitcoin wallets contain less than .02% of all Bitcoins, while .46% of all wallets contain about 26% of all Bitcoins. The biggest wallet is value at over 2.5 Billion dollars.

TIL less than .18% of all people in the world have bought any Bitcoin. Combined, 53% of Bitcoin wallets contain less than .02% of all Bitcoins, while .46% of all wallets contain about 26% of all Bitcoins. The biggest wallet is value at over 2.5 Billion dollars. submitted by 1948Orwell1984 to Bitcoin [link] [comments]

TIL less than .18% of all people in the world have bought any Bitcoin. Combined, 53% of Bitcoin wallets contain less than .02% of all Bitcoins, while .46% of all wallets contain about 26% of all Bitcoins. The biggest wallet is value at over 2.5 Billion dollars.

TIL less than .18% of all people in the world have bought any Bitcoin. Combined, 53% of Bitcoin wallets contain less than .02% of all Bitcoins, while .46% of all wallets contain about 26% of all Bitcoins. The biggest wallet is value at over 2.5 Billion dollars. submitted by 1948Orwell1984 to CryptoCurrency [link] [comments]

Bitcoin Update - just buy $1 worth of bitcoin please ... Bitcoin To Us Dollar - YouTube Dollar Crash 2020 & Why BITCOIN WILL RISE Will Bitcoin Survive In A Stock Or Dollar CRASH? - Trace ... What Is Cryptocurrency?  The Value Of Bitcoin vs The ...

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Bitcoin Update - just buy $1 worth of bitcoin please ...

Josh Sigurdson talks with Trace Mayer, a well known successful investor and supporter of Bitcoin about the potential of Bitcoin in a crash. First, Trace goes... What Is Cryptocurrency? https://www.freecryptominicourse.com Use the link to the left to learn how and why bitcoin & cryptocurrency are changing the worl... Sign Up Now : https://ethtrade.org/@305759 ETHTRADE Get up to 25% of your passive income every month due to ETH (ethereum) Bitcoin and Dollar trading on the ... The US is printing more money to try and prevent the dollar crash in 2020. All of this among other things create an environment where a bitcoin rise in value is likely. Bitcoin could possibly go ... A look on the bullish side of Bitcoin and despite a turbulent 2018 why we might see an incredible future for BTC. The excitement is building around Bitcoin a...

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