At this point, the chances of Bitcoin dying are next to impossible
The worst that could happen to Bitcoin was that it would become some obscure decentralized internet network with no real value. But at this point in the game, it's too big to shrink away into infamy. Wall Street is buying, hospitals are starting to accept it, banks are accepting it, stores are accepting it, PEOPLE are accepting it. It's too far adopted at this point for the dominos of adoption to stop falling. We're on a path that leans in an overwhelming direction towards Bitcoin's continued growth and adoption in this world. It was always a Binary equation when it started, and at this point, it's only got 1 way to go. Do you think Grayscale's clients who own the over 450 thousand Bitcoins are going to want to let them go? MicroStrategy who bought over 250 million dollars worth of Bitcoin as it's primary treasury financial reserve asset? Any of these guys who are, and will adopt in at the pro level of the financial world? We're at the brink of another parabolic run, and even if Bitcoin repeats history and 1000% jumps, then dumps 80%, do you think these guys would sell? Even after the drop, they'll still be over 200% on whatever they owned pre ATH(All-Time High Price). AKA, 20k$. These guys are going to see what we all saw after our first parabolic runs. They're going to see what happened, look at the history, and see that it does this every halving, realizing as we all did once, what Bitcoin truly is, and where it is headed. And these are hodlers who are already experienced in holding over 10 years, 20 years, 50 years, 100+F'ing years. These are the same institutional buyers pumping the stock market right now despite this pandemic. Once they get a taste of Bitcoin, they won't stop doing everything they can to get more. The volatility will slow down, the growth will become more consistent, boring, and predictable even, just as the stock market is today. But the math holds true; once these guys are fully adopted, and all the adoption dominoes have fallen; Bitcoin will be over 10 million per coin. By then, growth will probably be as boring and predictable as the stock market. The math will dignify it to still grow faster than the stock market does today, but boring, with no massive price swings as we see today; where you can buy Bitcoin at a 50% discount just 1 day, or 1 week later. By then, most companies will probably have already converted their stocks into their own cryptocurrencies of sorts. It's the only logical next step; cuts out the stockbroker middlemen, just like Bitcoin cuts out the banks. But, regardless of all that stuff that is likely to come with this path that we're on now, the one thing I know for most certain is, before this next run happens, you'll want to get in. Like now. Before this next run even starts pricing over 20k$. Because, after this whole next run up and drop is said and done, you'll be lucky if we ever see a 20k$ Bitcoin again. The best chances will be a drop to 30k$ if we break just over 100k$, or 70k$ if we break just over 300k$. That's if we even get the 80% drop that history has shown this time around, now with these old school investors joining the game before the parabolic run up even starts. Buy now, before we break 20k$. Hell, keep buying whenever you can until we hit 20k again. I can guarantee you; after 8 years of buying through these markets, there is no better time to buy than right before the start of a parabolic run. Sure, you'll wish you'd have bought when it was at an all-time low price period, but then, you'd have to wait potentially up to 4 years for the next parabolic run to start after a halving, in order to experience any of the crazy historical price run action you've heard so much about. Buying 6 months after a halving like now; puts you on the financial rocket ship that is Bitcoin, right before takeoff, making you able to experience the ride that has made thousands of people addicts to this decentralized network over the last 10 years. IN the next 10 years, it will be millions of addicts; in the next 30, it will be billions. And the price, well the price will be numbers we think today as impossible. Because if you think 10 million is where this bad boy is stopping, then you really don't understand what will happen when the owners of quadrillions in value, become addicted to a decentralized network that's capped out at 21 million coins, and those owners of those quadrillions in value begin to move their asset holdings into Bitcoin; in order to feed their addiction to this decentralized network that many of us have grown to know. Once they know what Bitcoin is, and they have experienced the supply shock that Bitcoin's halvings have on it's value, then they'll begin to move their assets into Bitcoin's network like a crackhead selling their mom's TV just to score an ounce of meth after experiencing its financial ride. Buy every chance you can, every paycheck; hop on this boat before it's too late and you miss another opportunity of insane ROI. Don't get me wrong, even in buying in on the next cycle, you'll still be exponentially profitable if you hold for the long run. But every time we have a parabolic run, that exponential potential becomes less and less. Although exponential none the less. The 10k$ dollars per Bitcoin range will be looked at in 30 years, just like we look at the days of Bitcoin being worth less than a penny per Bitcoin today. Hell, 10 years from now will be looking at a 10k$ per Bitcoin price range like we look at buying Bitcoin at 20$ a coin today.
MicroStragegy’s Bitcoin Play is Just Smart Business, Nothing Else: CEO Explains
MicroStrategy has been featuring more in cryptosphere and it all started when it converted its primary asset base into Bitcoin. However, the business intelligence software provider is also staying aware of the possible swings in Bitcoin’s price and is ready to sell at a moment’s notice. Safety Amid an Economic Downturn Earlier this week, Michael Saylor, MicroStrategy’s chief executive, sat for an interview with Bloomberg, where he spoke about the firm’s shocking move to hold over $400 million in Bitcoin. There, he explained that they see Bitcoin as a safer asset, especially compared to cash and gold. Saylor explained in part that he chose to make the move to Bitcoin because he had seen the impact of the coronavirus pandemic on traditional assets. Before the pandemic hit, the firm had about $500 million in assets, which it had invested primarily in short-term government securities. Sadly, the pandemic caused yields on the securities to tumble, and Saylor knew that the company had to move into something more reliable. “Once the real yield on our treasury got to more than negative 10%, we realized that everything we are doing on P&L is irrelevant. We really felt we were on a $500 million melting ice cube,” he said. The company eventually found the safety it sought with Bitcoin. In July, MicroStrategy announced in a formal announcement that it had switched its primary asset base to the leading cryptocurrency, purchasing about 21,454 BTC for $250 million. Among other things, the Virginia-based tech giant highlighted that Bitcoin had proven itself a dependable store of value. In the weeks since then, MicroStrategy has doubled down. In a filing with the Securities and Exchange Commission (SEC), it confirmed that it could purchase even more of the asset. However, that would only happen after assessing its cash needs and business strategy. Just Business for MicroStrategy Days later, the company purchased an additional 17,000 BTC tokens — bringing its total Bitcoin haul to about $425 million. Considering that it is putting a lot of its eggs in the crypto basket, Bloomberg was curious about whether Saylor was worried about Bitcoin’s famed volatility and how much a sharp price drop could gut his firm. However, Saylor brushed off any concerns. In part, he said: “We can liquidate it any day of the week, any hour of the day. If I needed to liquidate $200 million of Bitcoin, I believe I could do it on a Saturday.” Saylor added that the asset’s volatility isn’t much of a problem as he could quickly move away from it and get the company’s money back. The CEO also pointed out that he wasn’t committing to Bitcoin as a passion project. He noted that his firm’s decision to buy the asset was merely due to its proven stability over the past few months, and he would liquidate his company’s holdings if he saw some other alternative assets with greater yields. For now, however, Saylor is all-in on Bitcoin. The CEO further predicted that more companies would make similar moves, adding that private companies are currently in the right position.
How to run Bitcoin Core 0.20.0 on Ubuntu Server 20.04 LTS using a Raspberry Pi 4 (or Virtual Machine)
I was helping someone on twitter with this so I figured I'd share the information here as well so that other people would have an easier time than I did. I'm going to explain how to do this setup on a Raspberry Pi, but note that this should work on a VM as well. You can also set up and run the node headless this way, but I will be explaining how to set up the node using a monitor that you can then later disconnect and access remotely once everything is setup. Hardware: -Raspberry Pi 4 (2GB RAM minimum) preferably 4GB RAM -Raspberry Pi 4 Heatsinks -Raspberry Pi 4 case -Micro HDMI cable -USB-C power cable and wall adapter -Monitor -Keyboard and mouse -Ethernet cable (Optional) -16GB or larger microSD card -500GB or larger external hard drive (SSD or portable) Node Requirements: -50 KBps upload internet speeds (Most people should have this) -Unlimited or high data cap internet download/upload service -6 hours or longer per day dedicated run time Okay, once you have the hardware its time to get started! The first thing you'll need to do is install the Raspberry Pi imager, this is how we're going to install Ubuntu onto our Raspberry Pi. After your download and install finishes, open the imager.
Click the "choose OS" box and from the list select Ubuntu, then select Ubuntu Server 20.04 LTS (Raspberry Pi 2/3/4).
Insert your microSD card to your computer directly or via a USB converter. Click "choose SD card" and select your inserted microSD card.
Click "Write" and wait for the imager to finish flashing the OS onto your card
When it is done, remove the SD card and reinsert it to access the files installed. You can choose the overclock the Raspberry Pi by editing the config file. To connect to the Raspberry Pi remotely, you'll need to create an SSH file. If you're on windows this is pretty easy. In the File Explorer, highlight the address bar at the top, erase the text and type cmd, press enter and the Command Prompt will pop up. Type the following: echo\ssh This will create an SSH file in your SD directory so that you can remote access the Rasberry Pi later. Now you can go ahead and eject the SD card from your computer. Now we can set up the Raspberry Pi Go ahead and connect all your peripherals to your Raspberry Pi, insert the microSD, and connect it to power to turn it on. Give it a moment to boot up, then when prompted enter "ubuntu" for the password. It will make you change the password. Afterward, it will print a bunch of information to the screen, write down the IPv4 address, this is the IP address you'll use to remote access the Raspberry Pi. Now, at any time you can remote access your Raspberry Pi by entering a terminal on another PC in your network and typing: ssh [email protected](your IP address) The next step is to install a desktop. There are plenty to choose from so feel free to use a different one than what I use, you can also choose to ignore this and to just work from in the terminal from this point forward. You need to update all the repositories so type: (Note you'll either have to be connected by ethernet orhave edited the network-config fileto setup your wifi in advance) sudo apt-get update Once it's done updating type the following to upgrade your system: sudo apt-get upgrade Now that you're up-to-date, you can install the desktop using the command: sudo apt-get install ubuntu-gnome-desktop This will take a while to download and install so just sit back and let it do its thing. Once it's done downloading, restart your Raspberry Pi and log in with the password you changed earlier. Your first boot may take a while so just be patient, don't freak out if you see a single purple square in the center of the screen while it's loading. You should now have the Ubuntu desktop ready to go and now it's on to installing Bitcoin Core! Installing Bitcoin Core 0.20.0 Since we're running Ubuntu Server 20.04 LTS, it should come preinstalled with the Snap Store. This makes installing apps very easy and works similar to pip install in Python. Simply open your terminal and type: sudo snap install bitcoin-core This will install Bitcoin Core into your Snap folder and will add the application to your system. Unfortunately, there are still a few steps left before we can begin downloading the blockchain. By default, Bitcoin Core doesn't have the removable-media Plug connected to the Socket. You can view this by typing: snap connections bitcoin-core This means when you try installing everything onto your external hard drive, Bitcoin Core won't be able to identify it or write to it even when passed the directory path. To fix this first locate your Snap folder, make a copy of the bitcoin-core folder inside, and paste it into your external drive. NOTE: You must make a copy, you can't just move the snap file to the external drive. Now, you can connect the removable-media Plug to the Socket by typing: sudo snap connect bitcoin-core:removable-media :removable-media This gives you the read/write permissions necessary to access the /media path. Finally, you can now launch Bitcoin Core and select "use a custom directory path" when prompted. Highlight the current directory path and replace it with the path to your external hard drive, it should look something like this: /media/(external drive)/bitcoin-core/common/.bitcoin This is why we had to make a copy of the bitcoin-core folder to the external drive earlier, the Bitcoin Core application will create the new data directory through ".bitcoin". Hit "Okay" and the application will begin synchronizing with the network! Once the synchronization is finished your very own node will be up and running! EDIT: (08/01/2020) Bitcoin Core 0.20.01 has been released, I will update the tutorial soon with how to run the latest release.
News Heading into Thursday July 23rd 2020 NOTE: PLEASE DO NOT YOLO THE VARIOUS TICKERS WITHOUT DOING RESEARCH. THE TIME STAMPS ON THE FOLLOWING ARTICLES MAY BE LATER THAN OTHERS ON THE WEB. THE CREATOR OF THIS THREAD COMPILED THE FOLLOWING IN A QUICK MANNER AND DOES NOT ATTEST TO THE VERACITY OF THE INFORMATION BELOW. YOU ARE RESPONSIBLE FOR VETTING YOUR OWN SOURCES AND DOING YOUR OWN DD.
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Conditional payment of Wisdom Chain document knowledge base
If we want to make a transaction now, I want to sell my data to you. what is the safest way of transaction? Obviously, there are two problems:
Because what I sell is the data, certainly cannot give you directly, otherwise how can I do if you get the data and then directly run away?
But I certainly can't take your money first, because the data I gave you may not meet your requirements, or I took the money and ran away.
To solve the above problem, we need a perfect and accurate "one hand pay, one hand delivery" solution. Zero knowledge proof and blockchain can be used at this time. Today we try to explain this interesting solution in the language that ordinary people can understand: the conditional payment of Wisdom Chain. What does this concept mean? To put it simply, it is to reach a perfect and fair "one hand pay, one hand delivery" scheme without trusting a third party. Imagine a transaction scenario in which neither party is willing to make payment / delivery to the other party without the presence of a trusted third party, otherwise the other party will run away. One hand payment and one hand delivery means that the payment / delivery action must be atomic. The so-called perfect fairness means that neither side can take more advantage. However, this concept is an old topic. As early as the 1980s, many scholars have been studying how to achieve a perfect fair trade. But for a long time, it has been agreed that a trusted third party is essential. Later, when Bitcoin was born, we found that it could be done by using the characteristics of blockchain. How is conditional payment realized in Wisdom Chain? According to official disclosure, conditional payment in Wisdom Chain is mainly composed of "hash time locking", "hash height locking" and other factors. Here, only hash time locking and hash height locking are discussed. What is hash time locking? Hash lock, full name of hash time lock contract, is a new technology implementation form proposed in lightning network. Hash lock mode is a mechanism that users guess the original value of hash value to pay in a specified period of time. In short, on the basis of the smart contract, both parties lock the assets first. If both parties input the original value of the correct hash value in a limited time, the transaction can be completed. In this mechanism, we can realize the rapid confirmation of micro payment, that is to say, to achieve the goal of rapid confirmation of lightning network. Next, the author will take the asset exchange of the application scenario of hash locking as an example to explain how hash locking is realized. How to implement hash time locking? In order to facilitate the understanding of how hash time locking is locked, here we compare two locks, one is hash lock and the other is time lock. 1. Hash lock Through hash value locking, after locking, only the original value of the hash value is used to unlock. Assuming that the number is 123, the value after hash is a03a. Through a03a locking, without considering hash collision, it can only be unlocked by 123. 2. Time lock The time lock requires the password for the hash lock to be entered within a specified time. If the time of the time lock is 1 hour, the user is required to enter the password of the hash lock within 1 hour. If the password of the hash lock is input after 1 hour, the time lock will not be opened. In other words, the condition for opening the two locks at the same time is to input the original value of the hash value within the specified time. In the above example, if "123" is input within one hour, both locks will be in the open state. Now A will use hash time locking mechanism to exchange its WDC in B for Ethernet currency. The specific steps are as follows: A first generates random number S, and then give hash value H (S) of random number to B through the network, assuming that the random number is 123, and the hash value is a03a.
At the same time, A locks time and locks Hash, assuming that the time lock time is 1 hour, and the Hash value of Hash lock is a03a. After locking, the WDC to be converted is locked on chain 1.
After B receives the hash value "a03a" given by A, B deploys the smart contract on the Ethernet site based on this hash value and stores the same value of ETH in the contract. B's smart contract requires A to provide the password "123" within the specified time to take away the ETH in the smart contract.
This process is equivalent to that B itself has two locks. The hash lock is the same as the hash lock of A. it needs the same password to open it. If the time lock is half an hour.
A uses the smart contract of B, and enters its own password "123" within half an hour, then it can open B's hash lock on chain B, and take away the ETH in B smart contract (equivalent to B's ETH, because the smart contract is created by B, and the ETH in the contract is also transferred by B).
Because A entered the password when calling the smart contract of B, so B also knew that the password was "123". As long as he opened the hash lock on the chain A in one hour, the WDC of A would be transferred to B.
Through the above process, we can see that A can realize the exchange from WDC to ETH through hash time locking. Through the above description, we understand the hash time locking, and the following hash height locking will be very simple to understand, and the principle is roughly the same as hash time locking. So let's briefly describe hash height locking. Hash height lock A and B can reach an agreement to lock A's 10WDC. Before the arrival of time T (T is expressed in terms of a block chain height in the future), if B can show a suitable R to A so that the hash value of R is equal to the predetermined value H®, B can obtain the 10WDC; if B still fails to provide A correct R until time T has passed, the WDC will automatically unfreeze and return it to A. This process produces random numbers and verifies them. When you understand hash time lock and hash height lock, you understand the technical principle of conditional payment for WisdomChain.
Complete in all its parts but also colorful, lively and fun to use. With More Money it is a pastime to make money with Bitcoins. More Money has a classic structure, very similar to that seen in BitsFree, Doge BitsFree and ClaimBits. The crypto internal to the faucet is the Bit. The personal skin makes it more pleasant to use and the presence of well-arranged banners eliminates the often intrusive pop-up pages. More Money is the ideal site for making money with Bitcoins. Making money with Bitcoins After logging in, you will find yourself in the Dashboard, which can be called up thanks to the button at the top left. The main menu is located at the top of the page and is divided into the following items: - Earn BTC, which collects all the earning methods. The main faucet claim, the shortlinks, the PTC ads, the social tasks (Jobs), the referrals section (15% bonus on each claim of its subscribers), the Investment Game created on the calls and puts on Bitcoin, the objectives ( Achievements) to be achieved linked to greater use of the site and the bonus Coupons to be redeemed that will be sent occasionally via email. - Offers, which includes surveys, extra tasks, various subscriptions to obtain in exchange a certain number of Bits to be subsequently converted into Bitcoin - Contests, the rankings of the competitions relating to the largest number of users who managed to register (Referrals), the Shortlinks performed and the Offers completed. - Lottery, the faucet's internal lottery. The cost of a ticket is currently set at 100 Bits. - Membership, the various levels of membership. In addition to the basic one, there are 3 other levels available to which you can subscribe upon payment of a - not even very high - amount of Bitcoin. - Stats, contains the statistics relating to their claims and those of referrals; reports all the activities carried out on the site, the ranking of the most operational users and the history of transfers to the outside and of deposits. The side menu of More Money On the left there is a list of options, activities and general references to the sections just described. It starts with your nick, where there is the Edit button by means of which you can enter or modify the personal wallet in which to transfer the Bitcoins earned. More Money also supports the FaucetPay microWallet. Going down you will see the balance in Bits; the level of membership (there is a link that refers to the Membership section) and its expiration date; the Bitcoin value of the Bits earned; the number of referrals (there is also a direct button here) the Changelly Instant Exchage, useful for converting and buying cryptocurrencies in real time (before using it we recommend studying its features: https://changelly.com/); buttons to transfer and deposit funds; the Advertising section that allows you to advertise your site using the internal platform: the minimum deposit is 25,000 Satoshi; links for technical support that refer to 3 of the most famous forums in the cryptocurrency sector. At the bottom right, next to the floating Chat button, you can see the menu that includes the FAQ, the contact form with support and all the Bitcoins that More Money has sent to its subscribers! See you at the next Faucet! If you liked this article and would like to contribute with a donation: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A Horizen Faucet: https://getzen.cash/auth/register?ref=153228
With the recent news of the Fed allowing banks to store btc, public companies like Micro Strategy converting some of their assets into btc, it is showing a strong trend of adoption by large institutions. Does anyone know if Square (cash app) privately own some bitcoins? Seeing that they are trying to become a bank. And it is in the interest of banks to own bitcoins. Thanks 🙏
Author: Gamals Ahmed, CoinEx Business Ambassador https://preview.redd.it/5bqakdqgl3g51.jpg?width=865&format=pjpg&auto=webp&s=b709794863977eb6554e3919b9e00ca750e3e704 A decentralized storage network that transforms cloud storage into an account market. Miners obtain the integrity of the original protocol by providing data storage and / or retrieval. On the contrary, customers pay miners to store or distribute data and retrieve it. Filecoin announced, that there will be more delays before its main network is officially launched. Filecoin developers postponed the release date of their main network to late July to late August 2020. As mentioned in a recent announcement, the Filecoin team said that the initiative completed the first round of the internal protocol security audit. Platform developers claim that the results of the review showed that they need to make several changes to the protocol’s code base before performing the second stage of the software testing process. Created by Protocol Labs, Filecoin was developed using File System (IPFS), which is a peer-to-peer data storage network. Filecoin will allow users to trade storage space in an open and decentralized market. Filecoin developers implemented one of the largest cryptocurrency sales in 2017. They have privately obtained over $ 200 million from professional or accredited investors, including many institutional investors. The main network was slated to launch last month, but in February 2020, the Philly Queen development team delayed the release of the main network between July 15 and July 17, 2020. They claimed that the outbreak of the Coronavirus (COVID-19) in China was the main cause of the delay. The developers now say that they need more time to solve the problems found during a recent codecase audit. The Filecoin team noted the following: “We have drafted a number of protocol changes to ensure that building our major network launch is safe and economically sound.” The project developers will add them to two different implementations of Filecoin (Lotus and go-filecoin) in the coming weeks. Filecoin developers conducted a survey to allow platform community members to cast their votes on three different launch dates for Testnet Phase 2 and mainnet. The team reported that the community gave their votes. Based on the vote results, the Filecoin team announced a “conservative” estimate that the second phase of the network test should begin by May 11, 2020. The main Filecoin network may be launched sometime between July 20 and August 21, 2020. The updates to the project can be found on the Filecoin Road Map. Filecoin developers stated: “This option will make us get the most important protocol changes first, and then implement the rest as protocol updates during testnet.” Filecoin is back down from the final test stage. Another filecoin decentralized storage network provider launched its catalytic test network, the final stage of the storage network test that supports the blockchain. In a blog post on her website, Filecoin said she will postpone the last test round until August. The company also announced a calibration period from July 20 to August 3 to allow miners to test their mining settings and get an idea of how competition conditions affected their rewards. Filecoin had announced earlier last month that the catalytic testnet test would precede its flagship launch. The delay in the final test also means that the company has returned the main launch window between August 31 and September 21. Despite the lack of clear incentives for miners and multiple delays, Filecoin has succeeded in attracting huge interest, especially in China. Investors remained highly speculating on the network’s mining hardware and its premium price. Mining in Filecoin In most blockchain protocols, “miners” are network participants who do the work necessary to promote and maintain the blockchain. To provide these services, miners are compensated in the original cryptocurrency. Mining in Filecoin works completely differently — instead of contributing to computational power, miners contribute storage capacity to use for dealing with customers looking to store data. Filecoin will contain several types of miners: Storage miners responsible for storing files and data on the network. Miners retrieval, responsible for providing quick tubes for file recovery. Miners repair to be carried out. Storage miners are the heart of the network. They earn Filecoin by storing data for clients, and computerizing cipher directories to check storage over time. The probability of earning the reward reward and transaction fees is proportional to the amount of storage that the Miner contributes to the Filecoin network, not the hash power. Retriever miners are the veins of the network. They earn Filecoin by winning bids and mining fees for a specific file, which is determined by the market value of the said file size. Miners bandwidth and recovery / initial transaction response time will determine its ability to close recovery deals on the network. The maximum bandwidth of the recovery miners will determine the total amount of deals that it can enter into. In the current implementation, the focus is mostly on storage miners, who sell storage capacity for FIL.
The current system specifications recommended for running the miner are:
NVIDIA-manufactured GPU (to be expanded).
SSD drive designated as large buffer (512GB +).
Large amount of RAM for data replication account (128GB +)
Compared to the hardware requirements for running a validity checker, these standards are much higher — although they definitely deserve it. Since these will not increase in the presumed future, the money spent on Filecoin mining hardware will provide users with many years of reliable service, and they pay themselves many times. Think of investing as a small business for cloud storage. To launch a model on the current data hosting model, it will cost millions of dollars in infrastructure and logistics to get started. With Filecoin, you can do the same for a few thousand dollars. Proceed to mining Deals are the primary function of the Filecoin network, and it represents an agreement between a client and miners for a “storage” contract. Once the customer decides to have a miner to store based on the available capacity, duration and price required, he secures sufficient funds in a linked portfolio to cover the total cost of the deal. The deal is then published once the mine accepts the storage agreement. By default, all Filecoin miners are set to automatically accept any deal that meets their criteria, although this can be disabled for miners who prefer to organize their deals manually. After the deal is published, the customer prepares the data for storage and then transfers it to the miner. Upon receiving all the data, the miner fills in the data in a sector, closes it, and begins to provide proofs to the chain. Once the first confirmation is obtained, the customer can make sure the data is stored correctly, and the deal has officially started. Throughout the deal, the miner provides continuous proofs to the chain. Clients gradually pay with money they previously closed. If there is missing or late evidence, the miner is punished. More information about this can be found in the Runtime, Cut and Penalties section of this page. At Filecoin, miners earn two different types of rewards for their efforts: storage fees and reward prevention. Storage fees are the fees that customers pay regularly after reaching a deal, in exchange for storing data. This fee is automatically deposited into the withdrawal portfolio associated with miners while they continue to perform their duties over time, and is locked for a short period upon receipt. Block rewards are large sums given to miners calculated on a new block. Unlike storage fees, these rewards do not come from a linked customer; Instead, the new FIL “prints” the network as an inflationary and incentive measure for miners to develop the chain. All active miners on the network have a chance to get a block bonus, their chance to be directly proportional to the amount of storage space that is currently being contributed to the network. Duration of operation, cutting and penalties “Slashing” is a feature found in most blockchain protocols, and is used to punish miners who fail to provide reliable uptime or act maliciously against the network. In Filecoin, miners are susceptible to two different types of cut: storage error cut, unanimously reduce error. Storage Error Reduction is a term used to include a wider range of penalties, including error fees, sector penalties, and termination fees. Miners must pay these penalties if they fail to provide reliability of the sector or decide to leave the network voluntarily. An error fee is a penalty that a miner incurs for each non-working day. Sector punishment: A penalty incurred by a miner of a disrupted sector for which no error was reported before the WindowPoSt inspection. The sector will pay an error fee after the penalty of the sector once the error is discovered. Termination Fee: A penalty that a miner incurs when a sector is voluntary or involuntarily terminated and removed from the network. Cutting consensus error is the penalty that a miner incurs for committing consensus errors. This punishment applies to miners who have acted maliciously against the network consensus function. Filecoin miners Eight of the top 10 Felticoin miners are Chinese investors or companies, according to the blockchain explorer, while more companies are selling cloud mining contracts and distributed file sharing system hardware. CoinDesk’s Wolfe Chao wrote: “China’s craze for Filecoin may have been largely related to the long-standing popularity of crypto mining in the country overall, which is home to about 65% of the computing power on Bitcoin at discretion.” With Filecoin approaching the launch of the mainnet blocknet — after several delays since the $ 200 million increase in 2017 — Chinese investors are once again speculating strongly about network mining devices and their premium prices. Since Protocol Labs, the company behind Filecoin, released its “Test Incentives” program on June 9 that was scheduled to start in a week’s time, more than a dozen Chinese companies have started selling cloud mining contracts and hardware — despite important details such as economics Mining incentives on the main network are still endless. Sales volumes to date for each of these companies can range from half a million to tens of millions of dollars, according to self-reported data on these platforms that CoinDesk has watched and interviews with several mining hardware manufacturers. Filecoin’s goal is to build a distributed storage network with token rewards to spur storage hosting as a way to drive wider adoption. Protocol Labs launched a test network in December 2019. But the tokens mined in the testing environment so far are not representative of the true silicon coin that can be traded when the main network is turned on. Moreover, the mining incentive economics on testnet do not represent how final block rewards will be available on the main network. However, data from Blockecoin’s blocknetin testnet explorers show that eight out of 10 miners with the most effective mining force on testnet are currently Chinese miners. These eight miners have about 15 petabytes (PB) of effective storage mining power, accounting for more than 85% of the total test of 17.9 petable. For the context, 1 petabyte of hard disk storage = 1000 terabytes (terabytes) = 1 million gigabytes (GB). Filecoin craze in China may be closely related to the long-standing popularity of crypt mining in the country overall, which is home to about 65% of the computing power on Bitcoin by estimation. In addition, there has been a lot of hype in China about foreign exchange mining since 2018, as companies promote all types of devices when the network is still in development. “Encryption mining has always been popular in China,” said Andy Tien, co-founder of 1475, one of several mining hardware manufacturers in Philquin supported by prominent Chinese video indicators such as Fenbushi and Hashkey Capital. “Even though the Velikoyen mining process is more technologically sophisticated, the idea of mining using hard drives instead of specialized machines like Bitcoin ASIC may be a lot easier for retailers to understand,” he said. Meanwhile, according to Feixiaohao, a Chinese service comparable to CoinMarketCap, nearly 50 Chinese crypto exchanges are often somewhat unknown with some of the more well-known exchanges including Gate.io and Biki — have listed trading pairs for Filecoin currency contracts for USDT. In bitcoin mining, at the current difficulty level, one segment per second (TH / s) fragmentation rate is expected to generate around 0.000008 BTC within 24 hours. The higher the number of TH / s, the greater the number of bitcoins it should be able to produce proportionately. But in Filecoin, the efficient mining force of miners depends on the amount of data stamped on the hard drive, not the total size of the hard drive. To close data in the hard drive, the Filecoin miner still needs processing power, i.e. CPU or GPU as well as RAM. More powerful processors with improved software can confine data to the hard drive more quickly, so miners can combine more efficient mining energy faster on a given day. As of this stage, there appears to be no transparent way at the network level for retail investors to see how much of the purchased hard disk drive was purchased which actually represents an effective mining force. The U.S.-based Labs Protocol was behind Filecoin’s initial coin offer for 2017, which raised an astonishing $ 200 million. This was in addition to a $ 50 million increase in private investment supported by notable venture capital projects including Sequoia, Anderson Horowitz and Union Square Ventures. CoinDk’s parent company, CoinDk, has also invested in Protocol Labs. After rounds of delay, Protocol Protocols said in September 2019 that a testnet launch would be available around December 2019 and the main network would be rolled out in the first quarter of 2020. The test started as promised, but the main network has been delayed again and is now expected to launch in August 2020. What is Filecoin mining process? Filecoin mainly consists of three parts: the storage market (the chain), the blockecin Filecoin, and the search market (under the chain). Storage and research market in series and series respectively for security and efficiency. For users, the storage frequency is relatively low, and the security requirements are relatively high, so the storage process is placed on the chain. The retrieval frequency is much higher than the storage frequency when there is a certain amount of data. Given the performance problem in processing data on the chain, the retrieval process under the chain is performed. In order to solve the security issue of payment in the retrieval process, Filecoin adopts the micro-payment strategy. In simple terms, the process is to split the document into several copies, and every time the user gets a portion of the data, the corresponding fee is paid. Types of mines corresponding to Filecoin’s two major markets are miners and warehousers, among whom miners are primarily responsible for storing data and block packages, while miners are primarily responsible for data query. After the stable operation of the major Filecoin network in the future, the mining operator will be introduced, who is the main responsible for data maintenance. In the initial release of Filecoin, the request matching mechanism was not implemented in the storage market and retrieval market, but the takeover mechanism was adopted. The three main parts of Filecoin correspond to three processes, namely the stored procedure, retrieval process, packaging and reward process. The following figure shows the simplified process and the income of the miners: The Filecoin mining process is much more complicated, and the important factor in determining the previous mining profit is efficient storage. Effective storage is a key feature that distinguishes Filecoin from other decentralized storage projects. In Filecoin’s EC consensus, effective storage is similar to interest in PoS, which determines the likelihood that a miner will get the right to fill, that is, the proportion of miners effectively stored in the entire network is proportional to final mining revenue. It is also possible to obtain higher effective storage under the same hardware conditions by improving the mining algorithm. However, the current increase in the number of benefits that can be achieved by improving the algorithm is still unknown. It seeks to promote mining using Filecoin Discover Filecoin announced Filecoin Discover — a step to encourage miners to join the Filecoin network. According to the company, Filecoin Discover is “an ever-growing catalog of numerous petabytes of public data covering literature, science, art, and history.” Miners interested in sharing can choose which data sets they want to store, and receive that data on a drive at a cost. In exchange for storing this verified data, miners will earn additional Filecoin above the regular block rewards for storing data. Includes the current catalog of open source data sets; ENCODE, 1000 Genomes, Project Gutenberg, Berkley Self-driving data, more projects, and datasets are added every day. Ian Darrow, Head of Operations at Filecoin, commented on the announcement: “Over 2.5 quintillion bytes of data are created every day. This data includes 294 billion emails, 500 million tweets and 64 billion messages on social media. But it is also climatology reports, disease tracking maps, connected vehicle coordinates and much more. It is extremely important that we maintain data that will serve as the backbone for future research and discovery”. Miners who choose to participate in Filecoin Discover may receive hard drives pre-loaded with verified data, as well as setup and maintenance instructions, depending on the company. The Filecoin team will also host the Slack (fil-Discover-support) channel where miners can learn more. Filecoin got its fair share of obstacles along the way. Last month Filecoin announced a further delay before its main network was officially launched — after years of raising funds. In late July QEBR (OTC: QEBR) announced that it had ceded ownership of two subsidiaries in order to focus all of the company’s resources on building blockchain-based mining operations. The QEBR technology team previously announced that it has proven its system as a Filecoin node valid with CPU, GPU, bandwidth and storage compatibility that meets all IPFS guidelines. The QEBR test system is connected to the main Filecoin blockchain and the already mined filecoin coin has already been tested. “The disclosure of Sheen Boom and Jihye will allow our team to focus only on the upcoming global launch of Filecoin. QEBR branch, Shenzhen DZD Digital Technology Ltd. (“ DZD “), has a strong background in blockchain development, extraction Data, data acquisition, data processing, data technology research. We strongly believe Filecoin has the potential to be a leading blockchain-based cryptocurrency and will make every effort to make QEBR an important player when Mainecoin mainnet will be launched soon”. IPFS and Filecoin Filecoin and IPFS are complementary protocols for storing and sharing data in a decentralized network. While users are not required to use Filecoin and IPFS together, the two combined are working to resolve major failures in the current web infrastructure. IPFS It is an open source protocol that allows users to store and transmit verifiable data with each other. IPFS users insist on data on the network by installing it on their own device, to a third-party cloud service (known as Pinning Services), or through community-oriented systems where a group of individual IPFS users share resources to ensure the content stays live. The lack of an integrated catalytic mechanism is the challenge Filecoin hopes to solve by allowing users to catalyze long-term distributed storage at competitive prices through the storage contract market, while maintaining the efficiency and flexibility that the IPFS network provides. Using IPFS In IPFS, the data is hosted by the required data installation nodes. For data to persist while the user node is offline, users must either rely on their other peers to install their data voluntarily or use a central install service to store data. Peer-to-peer reliance caching data may be a good thing as one or multiple organizations share common files on an internal network, or where strong social contracts can be used to ensure continued hosting and preservation of content in the long run. Most users in an IPFS network use an installation service. Using Filecoin The last option is to install your data in a decentralized storage market, such as Filecoin. In Filecoin’s structure, customers make regular small payments to store data when a certain availability, while miners earn those payments by constantly checking the integrity of this data, storing it, and ensuring its quick recovery. This allows users to motivate Filecoin miners to ensure that their content will be live when it is needed, a distinct advantage of relying only on other network users as required using IPFS alone. Filecoin, powered by IPFS It is important to know that Filecoin is built on top of IPFS. Filecoin aims to be a very integrated and seamless storage market that takes advantage of the basic functions provided by IPFS, they are connected to each other, but can be implemented completely independently of each other. Users do not need to interact with Filecoin in order to use IPFS. Some advantages of sharing Filecoin with IPFS:
Filecoin and IPFS CIDs share hash specifications.
Use libp2p by Filecoin nodes to create secure connections with each other.
Messaging between nodes and cluster propagation is facilitated in Filecoin by libp2p pubsub.
IPLD use for blockchain data structures.
Use Graphsync to transfer data between nodes.
Of all the decentralized storage projects, Filecoin is undoubtedly the most interested, and IPFS has been running stably for two years, fully demonstrating the strength of its core protocol. Filecoin’s ability to obtain market share from traditional central storage depends on end-user experience and storage price. Currently, most Filecoin nodes are posted in the IDC room. Actual deployment and operation costs are not reduced compared to traditional central cloud storage, and the storage process is more complicated. PoRep and PoSt, which has a large number of proofs of unknown operation, are required to cause the actual storage cost to be so, in the early days of the release of Filecoin. The actual cost of storing data may be higher than the cost of central cloud storage, but the initial storage node may reduce the storage price in order to obtain block rewards, which may result in the actual storage price lower than traditional central cloud storage. In the long term, Filecoin still needs to take full advantage of its P2P storage, convert storage devices from specialization to civil use, and improve its algorithms to reduce storage costs without affecting user experience. The storage problem is an important problem to be solved in the blockchain field, so a large number of storage projects were presented at the 19th Web3 Summit. IPFS is an important part of Web3 visibility. Its development will affect the development of Web3 to some extent. Likewise, Web3 development somewhat determines the future of IPFS. Filecoin is an IPFS-based storage class project initiated by IPFS. There is no doubt that he is highly expected. Resources :
CoinPot: 7 Faucet sites to earn free cryptocurrencies
A group of top-of-the-range Faucet sites that will make you earn free cryptocurrencies quickly: Bitcoin, Litecoin, Bitcoin Cash, Dogecoin and Dash. In this article we would like to describe in detail how this small group of faucet sites that rely on a single online microWallet: Coinpot. In our opinion, by far the most practical and famous of all the sites in the category for earning free cryptocurrencies. Before reading, we recommend reading the introductory article of our blog in order to better understand some terms and already own an indispensable personal multi-currency wallet. To earn cryptocurrencies, the first thing to do is sign up at the following link: https://coinpot.co No personal data is required, only the email address. As for the first 5 "Moon" sites, it will be sufficient to log in with the same email with which you signed up for Coinpot and you can immediately make the claim (always alternate reCaptcha and SolveMediaCaptcha). You will be free to choose whether to make a daily claim or several claims throughout the day. The minimum waiting time between one claim and the next is 5 minutes. Once you have made the first claims you will be able to see the crypto earned automatically credited to your Coinpot wallet. We will explain its functions in detail below. Follow this advice to Earn even more Cryptocurrencies ... And these are the top 5 Coinpot-related faucet sites. Always remember to log in by following the links we have reported. The greater the number of referrals you will bring, the greater your earnings. The "Moon" sites in addition to guaranteeing you a 25% of the amount of each claim made by your referrals, will give a 1% bonus (up to a maximum of 100%) to the claims you make with your account. Our advice is to create a main desktop account and a secondary mobile account in order to personally verify the real functioning of the system. Your personal referral link will be shown to you by clicking on the refer link located at the top of the page. 2 more Faucets join the Moon galaxy! In addition to the 5 sites mentioned above, there are 2 others that offer almost identical efficiency and functions: BonusBitcoin and BitFun. To earn free cryptocurrencies in this case you will need to sign up using the email address as done previously on Coinpot. Use the same credentials. The referrals program is exceptionally profitable as it offers a 50% bonus of every claim made by your subscribers. Even with a few subscribers, you will notice a steady increase in the cryptocurrencies you earn. BonusBitcoin can occasionally be annoying but still offers a daily bonus on the total claims made. The waiting time on this site is 15 minutes and the link to the personal Referral is available in the center of the page. Under the "Claim Now" button there is also another option: "Change your claim setting". Selecting it will open a small window: putting the check mark on "Always receive the average claim amount" you will always earn the same number of Satoshi for each claim while leaving it empty you will have the opportunity to earn 5,000 Satoshi with a single claim. The downside is that in the meantime you will get a lower average prize. Bitfun is by far our favorite Faucet site because it rewards with relatively high amounts and requires very little time to make the claim. The time interval on Bitfun is identical to that of the "Moon" sites: 5 minutes. You will find the Personal Refer link under Account. Brief explanation on how the Coinpot MicroWallet works. After this roundup of sites we want to quickly explain how the Coinpot microWallet works. In the main interface you will be shown the 5 cryptocurrencies that you can earn: BitCoin, BitCoin Cash, Dash, DogeCoin and LiteCoin. As you may have noticed, Tokens are not supported. In the drop-down menu of each Coin you can decide whether to deposit crypto in the microWallet, transfer them from the microWallet to your personal wallet, convert them all into a single crypto (to more quickly reach the minimum transfer amount on the personal wallet), undermine them with your PC or view the latest transfers confirmed by Coinpot. As for the Coinpot Tokens, the menu offers the possibility to convert them into other crypto, mine them with the PC or participate in 2 games of luck. Coinpot Tokens will be given to you in the order of 3 at a time for each of your claims made or 1 for each claim made by your referrals. A very useful section of news and updates is also available and fortunately there are very few banners. Last in terms of innovation, the Challenges, which you can select on the left in the summary menu. In practice, following a certain number of shares (claim, conversion of crypto, purchase of lottery tickets, etc ...) you will be given stars. The Challenges can be daily, monthly or linked to the achievement of a specific goal. Each star will guarantee you an additional 100 Coinpot Tokens. At the end of the challenges / Challenges period, lasting 30 days, those who have collected the highest number of stars will receive an additional maxi-prize in Coinpot Tokens. Finally, we remind you that for each transfer to the outside you will be sent an email requesting confirmation that will be valid for 30 minutes. After this period of time you will have to carry out the operation again and no amount will be lost. Keep following us! All the articles will always be dedicated to cryptocurrency faucets other than the previous ones that will allow you to quickly increase your earnings. If you liked this article and would like to contribute with a donation: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf
08-12 22:05 - 'Why Bitcoin Will Win: The Bearish Case for Ethereum' (self.Bitcoin) by /u/uncapslock removed from /r/Bitcoin within 207-217min
''' Hi Everyone! If you were around for the 2017 bull cycle, you might remember me from: [[link]6 With the advent of DeFi, I wanted to crystalize my thoughts on why Bitcoin will win in the end.
Why Bitcoin Will Win: The Bearish Case for Ethereum
Ethereum is the MySpace of decentralized finance. Hobbled together, scrappy, but provides an exciting glimpse into the future. We should be pleased with the new paradigms discovered through this experiment but should not expect it to be the de facto platform in a decade. Ethereum has demonstrated intrinsic challenges that are insurmountable without an Ethereum 2. We have witnessed unauditability, scaling difficulties, centralization and high contract fees. Building second-layer solutions to make up for shortcomings is akin to patching cracks in the asphalt with duct tape. In this piece, I’ll navigate why we should not confuse novelty of features for sustainable value, why Ethereum makes for a poor base layer, and what to expect in the decade ahead. There will only be onebase layer for digital scarcity of humanity and that is Bitcoin.
The “Bitcoin is money, Ethereum is apps” fallacy
There is a logical fallacy in arguing “Bitcoin is money, Ethereum is apps,” which draws a false equivalence between the value of money and apps. As any self-respecting financier knows, the value lies (quite literally) where wealth is stored.
“Applications are cheap. A store of wealth is expensive.”
Building applications is a solved problem. We know how to recruit engineers, build organizations and assemble technical solutions. We have a bevy of technologies that provide affordances for user interfaces. We have best practices for effective engineering. We even have strategies for amplifying creativity during brainstorming. The number of pages on CoinMarketCap.com is a testament to the commonality of applications. What is not solved is building applicationson top of a store of wealth. In order to build applications on top of a store of wealth, you either appropriate an existing store of wealth and build on top of it (i.e. Plaid) or you build a new store of wealth (Bitcoin). Building a digital store of wealth is so hard it has taken over half a century andis still not ready. The digital store of wealth is only ready when it stores a nontrivial portion portion of global wealth. On August 11, 2020, MicroStrategy announced it had acquired 21,454 Bitcoin for $250 million. Asinglecompany bought the equivalent ofall Bitcoin in Ethereumthat day. Building an application on Ethereum today is the worst of both worlds. It builds on a burgeoning new store of value with a tiny addressable market on top of a limited capacity network already showing strains. The vast majority of global wealth is still outside of the system, waiting to designate a digital store of value. Conceding that Bitcoin is the better store of value is conceding Bitcoin will be the disproportionate beneficiary of global wealth entering the system.
So where do applications fit in?
Imagine acquiring a bank. You are given a choice to either acquire the trillion dollars under management and no app or a smooth, slick app but not the financial assets. It’s easier to make a new application where users are already present rather than move users to a new platform with an existing application. As we’ve seen in the previous section, most users will be on Bitcoin utilizing its value as a store of wealth.
“Applications will be built where wealth is stored.”
What we’ll see is the best ideas from current generation of DeFi applications (elastic supply, governance, fair distribution mechanisms, auditability) built into layer 2 solutions of Bitcoin that itself sits on top of multiple trillions of dollars of global wealth. Why will this happen? Builders will note applications of value from the small pond of Ethereum and see a market opportunity to natively expose those features to the much larger accounts in Bitcoin, reaping proportionally higher revenue.
Why can’t we use Ethereum as a store of value?
“If native users of a platform are so important, why can’t we just use Ethereum as a store of value? After all, holders of Ethereum have seen much higher appreciation in value since its founding compared to Bitcoin.” Here we refer back to the [“The Bullish Case for Bitcoin”]2 which lays out the core properties of money of which three critical areas Ethereum is weak against Bitcoin.
As we see in the indefatigable investigation by [Pierre Rochard]3 in his epic quest to audit Ethereum’s supply limit, verifying the total number of Ethereum is not a trivial task. A number of supply adjustments had been made in node software instead of on-chain transactions, intermediate miner rewards calculated using uncles that are not finalized for a number of blocks, selfdestruct() that leaves ambiguity for token inactivity. These factors make it impossibleto have an objective measure without specifying an asterisk of the nuances appropriated for each method of calculation. Lack of auditability makes Ethereum a nonstarter for firms desiring a store of value. Without an objective measure of supply comes an impossibility of assessing the value of your asset. From measurement of the Ethereum supply through scripts, it has been hypothesized that there has been at least one inflation bug that has been exploited: [*[link]7
There is no set limit of Ethereum by design. From inception it was designed to be an inflationary currency which is essential as a utility token executing applications but is fatal for a store of value. There is an ongoing effort to curtail Ethereum’s inflation to appease to its holders which will be to its detriment as use as an application platform. This tension between being an appreciating digital asset and utilization as fuel is intrinsic to Ethereum and cannot be removed. When Ethereum prices go up by a factor of ten, only smart contracts that can provide commensurate proportional value will be viable.
“Using Ethereum as a store of value creates a perverse relationship with increasing contract fees that undermine its value as an application network.”
As the price rises further, we will see the majority of use cases today become priced out, adding platform risk where users will now need to worry whether they will be able to get their assets back out in the event of Ethereum appreciation.
It is an open secret that Infura is the defacto backend for Ethereum. Running a full Ethereum node is known and accepted to be an arduous task with astronomical processor requirements. This problem is getting worse, not better as the system struggles with transaction volume today, much less the several magnitudes of transactions needed in the coming decade. The solution provided is running Ethereum 2 and implementing applications on a second layer of Ethereum. This shifts the conversation to if building a new base layer or building on a second layer is necessary, what benefit is there to retain Ethereum as a base layer?
A Look Back from 2030
When we look back to 2017–2021, we will remember this period as the primordial era of where creative entrepreneurs came together to experiment with the new paradigm of permission-less smart contracts. We will see a meaningful portion of global wealth go into Bitcoin by 2024 raising assets under management to a trillion dollars. Companies will convert overseas holdings into Bitcoin to counter inflationary risk for sovereign currencies. Smaller nation-states will start to acquire a reserve of Bitcoin to counter dollar strength to pay off their dollar-denominated debt. During this time, firms small and large will rush to build applications to service wealth stored in Bitcoin on layer 2 and layer 3 solutions. Many of these applications will be inspired by what is currently built on top of Ethereum but addressing a much larger market. Through two more halvings by 2030, everyone will have a Bitcoin account providing both a store of value as well as a unified platform that provides the largest installed userbase for financial products. We'll be ending the decade with 10M per Bitcoin, (one magnitude increase each for the three halving periods: 2020-2024, 2024-2028, 2028-2032) with Bitcoin serving as the generational store of wealth for those with the foresight to stack sats and hodl.
Tips for Builders
You’re not late. In fact you’re incredibly early. We’re still building the store of value that will be the foundation to the financial apps that you’ll build. Ethereum is a nice environment for experimenting with new paradigms that are made possible through smart contracts. But understand that the bulk of your future customers will be onboarding onto a different platform when they do arrive. There will be a bonanza period where we see thousands of companies and millions of retail users adopting Bitcoin. It’ll be up to you to recognize the arbitrage opportunity to offer product features in native Bitcoin format to beat other products that must employ bridges to access wealth stored in Bitcoin.
For future writing, [you can follow me on Twitter at @uncapslock]5 . This article is for information purposes only and is not intended to be investment advice. ''' Why Bitcoin Will Win: The Bearish Case for Ethereum Go1dfish undelete link unreddit undelete link Author: uncapslock 1: www.red*it.co***/Bi*coin/*om**n*s/6h4*1i/why_i*sol*_all_***e*h*reum_*oda**an*_convert*d_i*/ 2: medium.c*m/@*i*a*bo*apati/t*e*bu*l*sh*case-for-*it*oin*6ecc8*de*c* 3: tw*t*e**com/pierre_*o*hard 4: *w*tte*.***/GeistLight/st*tus/1*926*756*3801390** 5: t*itt**.*om/uncap**ock 6: ww**r**di**com*Bitcoin/comments/6h4**i/why\_*\_***d\*al*\_my*_eth*re*m\*today\*and*_*onve*te*\_it/**^1 7: twitter.com/*eistLi*h*/s*a*u*/*29*6475***801390***]^^4 Unknown links are censored to prevent spreading illicit content.
Question about making btc transactions from EU to the US
Hi all, I'm totally new when it comes to BitCoin. I'm EU based and I have several small-ish payments to make to some people in the US. I was looking into bitcoin to do this as other methods have sky-high fees, but I had a question. Say I need to make a payment of 100USD to a person. He agrees to do this through bitcoin. My own currency is in euros and in order to buy bitcoin with euros, there is a conversion fee. Then I send him the bitcoin, so there will also be the transaction fee. Finally, he recieves the bitcoin but he will have to convert it back to usd. So I will have to pay for that conversion fee as well. But he needs to get his 100usd. So, when looking from the beginning, I would need to convert enough euro to usd to make sure that, after all fees, he gets exactly 100usd? This system confuses me a bit, am I missing something? Furthermore, I've read about Lightning Network for micro transactions. Up to how much usd is considered a microtransactions? Or does it not really matter? Thanks in advance for any responds!
March beermoney earnings report (£319.16) - Who paid me in March
I figured I'd post my first beermoney earnings report and no this is not an april fools, I hope u/flybywire2a doesn't mind me borring his formatting as i'm bad at starting from scratch. Anyway here's what I made :
Passive - Browser Extension
Passive - SMS
Passive - Facebook
Passive - SMS
Passive - Location
Google Opinion Rewards
Passive - Cloud Mining
Passive - Cloud Mining
Passive - Browser
Seems pretty good for a third month considering i'm doing everything haphazardly, sadly I didn't record the prior months but started doing it now in case I need to ever pay tax on my earnings.
Please be aware all sign-ups require you to use a ref link or code in order to get the bonus.
Chip [non|refcode - ARWLEPXY (£10 sign-up bonus)] - You'll need to allow for two auto-saves that happen every four days and within 30 days of those conditions being met you will recive £10 which you can immediately withdraw with your auto-saves. You can easily pause your auto-saves after the first two.
Tickr [non|refcode - callumt1608 (£10 sign-up bonus)] - You'll need to make a one off (recommend £5-10) or monthly deposit at which point you'll recive your £10 but you must wait 90 days before being able to withdraw it
Xapo [non|ref($10 sign-up bonus)] - You'll have to deposit $100 worth (check £-$ value) into the account at which point you'll recive your bonus in BTC which you can convert to GBP and withdraw, should you not recive your bonus within a day or so contact support and pm me (support will want my email address and full name to verify the bonus).
Trading212 [non|ref(£1-100 sign-up bonus)] - You will have to deposit £1 to recive the share, 3 days to sell it and then 30 to wait for the money to settle at which point you can withdraw it.
Bitwala [non|ref(€15 sign-up bonus)] - You only need to verify your account which will require Proof of ID and Address (Make sure it shows the date and your name) and you will have to create a bitcoin wallet so you can have €15 worth of bitcoin deposited into it within 15 banking days at which point convert it to GBP and withdraw.
Zuex [non|ref/ refcode - ZWYIVB (£40 sign-up bonus)] - You will recive £40 in your account upon signing up however you cannot withdraw this amount but you can withdraw any interest generated off it so I'm personally just letting it build and build until I am satisfied.
Streetbees [non|refcode - 75496X ] - payout upon survey review, no minimum. The surveys are carried out like a conversation and pay £1 minimum, these tend to be less mind numbing than most surveys due to the conversational nature of the surveys and as a plus they're very frequent.
BigToken [non|refcode - ML15ACAC6 ] - payout within 7 business days, $5 minimum. This one is actually very convenient cause everything is a micro survey of one question so it's easy to do on the go, no complex questions. You can only cash out 1/4th of your points total. They seem to have fixed their payment issues now so everyone getting paid again after a long hiatus.
Google Opinion Rewards [non] - payout immediately but only in the form of google play credit. All the surveys are based on location data from you walking about and visiting places so you're probably not going to get many while in quarantine but when you can this is the easiest way to never pay for an android app ever again.
Viewsbank [non] - payout at the end of each month, £12 minimum. Pretty much what you'd expect from a survey site, nice ui, getting disqualified from a survey is very uncommon it feels, surveys can be viewed on the website and you'll also be alerted to them via email when they become available.
CitizenMe [non] - payout instantly, no minimum. Micro survey app very trustworthy and reliable company you'll consistently get one or two paying surveys each day perhaps more based on your demographic. Highly recommended.
OnePulse [non] - payout instantly, $5 minimum. Micro survey app similar to CitizenMe. Highly Recommended.
IntelliZoom [non] - payout in ~3 weeks, no minimum. Can check the website for available tests and they send out regular email alerts to those tests in addition to notify you. I get probably 10+ invites a week but not always a fit for the demographic.
TopCashback [non|ref(£7.50 sign-up bonus)] - payout varies based on the website/product/service you get cashback on, no minimum. I recommend if you're ever buying anything whatsoever online quickly pop on here and check if you can get cashback for it but do make sure you have anything that blocks cookies turned off. I also recommend you sign up for QuidCo[non|ref(£10 sign-up bonus)] & OhMyDosh![non|ref(£1 sign-up bonus)] and check all three when checking for cashback sometimes one is better than the other.
ReceiptHog [non] - payout within 7 business days, £3 minimum. You scan your receipts from shopping and get points for them which you exchange for payment, can take a while but money is money.
Huyu [non|refcode - 5URTPVVJ (£0.50 sign-up bonus)] - payout within 7 business days, £5 minimum. Same as ReceiptHog but will only accept receipts from grocery/supermarkets.
Brave [non|ref] - payout monthly, no minimum. Opt-in to the brave rewards in the brave browser and you will recive non-intrusive ads occasionally and be paid for viewing these at the end of the month in BAT. It'll help if you understand crypto already as you'll need to sell your crypto to get tangible cash. I recommend checking the coinbase mega-thread as there is a step for extra money related to it that you can complete.
Electroneum [non|refcode - BEEF3D ] - You basically just confirm you want to cloud mine each day until you feel you've accumulated enough to sell on an exchange. It'll help if you understand crypto already as you'll need to sell your crypto to get tangible cash. I recommend checking the coinbase mega-thread.
Phoneum [non|ref (200PHT sign-up bonus)] - You basically just confirm you want to cloud mine each week until you feel you've accumulated enough to sell on an exchange. It'll help if you understand crypto already as you'll need to sell your crypto to get tangible cash. I recommend checking the coinbase mega-thread.
UpVoice [non] - payout instantly, $5 minimum. Completely passive, tracks your usage data of Facebook, YouTube, Amazon and other partnered sites and pays you in return.
Lazybucks [non|ref] - payout 7 business days, no minimum. Completely passive, requires you to have a facebook account with an untouched ad account or business account. The way they work is they interact with ads on behalf of advertisers to review that they are working.
MoneySMS [non|refcode - 683408DCD9 (€0.50 sign-up bonus)] - payout within 7 business days, €2 minimum. Completely passive, The way this works is companies will send texts to your phone to verify that their mobile infrastructure (like Two Factor Auth via text) is working and the app will check they've recivied the expected text and credit you €0.02-0.05 for each text so you can expect payout after 2 or 3 months.
McMoney [non|refcode - 9YQ73EX5 ($0.51 sign-up bonus)] - payout within 7 business days, $5 minimum. Same as MoneySMS.
Panel App [non|ref] - payout within 7 business days, £1 minimum. Completely passive, Utilizes your location data for research purposes, you make get surveys in response to where you've been which add a little extra to reaching your payout faster.
Adult Entertainment - Definitely not for everyone
OnlyFans [non|ref] - payout at the end of each month, $20 minimum, 20% fee on your earnings. This honestly will not be for everyone but i'm quite comfortable taking nudes and curating it as its basically like an Instagram profile. You'll need to market yourself a little (use reddit/twitteinstagram), keep a consistent posting schedule and appeal to peoples desires. Can be quite the confidence boost. Look at your body logically and figure out who you appeal to and what niche you fit into in relation to peoples desires.
Bitcoin faucets are websites or applications that offer you a small amount of bitcoin as a reward for making easy tasks. Depending on the selected faucet, users can earn coins for completing various tasks, such as viewing certain websites, watching ads, entering a captcha, or playing a game. by StealthEX At the beginning of the cryptocurrency’s existence, when the stakes were not so high, the creators of faucets gave 5 bitcoins for each claim — back then it was their way to promote digital money among newcomers. Now faucets operate with much smaller amounts and give out some part of the Bitcoin, which is measured in Satoshi(named after the creator of Bitcoin). Satoshi is the smallest possible fractional number of Bitcoin — one BTC is equal to 100 million Satoshi. If you have ever left a water tap not completely closed, you probably noticed that water was dripping into it, and if you put a bowl under it, sooner or later it will be filled. Even though one-time payments on faucets are scanty, many advise not to neglect the opportunity to earn on them, because, with the right approach, faucets can bring a tangible profit with a minimum of effort. There are plenty of sites offering free bitcoins. Unfortunately, most of them are not trustworthy, do not live long, or are simply overflowed with annoying flashing ads. However, there are some that work for many years, used by thousands of users and considered reliable. Here is the list of them:
This faucet is probably the most well-known one. It was created in 2013 on the territory of the British Virgin Islands. Payouts are not fixed and vary for each claim. You can get cryptocurrency every hour, and for each claim you get from 0.00000030 to 0.03 BTC. In addition to the faucet, Freebitcoin allows you to earn in other ways — save interest on your deposit, play the lottery, invite new users via referral links. It supports several withdrawal methods: you can set up automatic withdrawal every Sunday, slow withdrawal every 6–24 hours, or use the fastest instant withdrawal that takes 15 minutes. The last one, of course, has the highest fee.
Founded in 2015, the Moon Bitcoin has a certain user base and is considered by many to be one of the best faucets in existence. There are many appealing bonus offers. For example, the site gives you a reward for consistency — if you enter a captcha at least once every day, you will accumulate a bonus +1% to earnings daily. Like most other faucets, Moon Bitcoin offers a bonus for bringing new users. Earned funds are instantly transferred to the linked Coinpot wallet. The minimum withdrawal amount is 10,000 Satoshi if you agree to pay the fee. Or wait until it’s going to be over 50,000 Satoshi on your account and withdrawal money for free. It is worth saying that Coinpot has its own bonus program. For example, for one captcha entry, you get 3 Coinpot tokens that can also be converted to cryptocurrency. There are also Moon faucets for Litecoin, Dash, Bitcoin Cash and DogeCoin. All payments are concentrated in one Coinpot account.
Bonus Bitcoin is one of the oldest services and is considered one of the best bitcoin faucets. You can request a new portion of free coins every 15 minutes, getting an average of 10 Satoshi per claim. You can also gain more coins completing tasks in the offers and surveys section. Users who regularly stay active for a number of days receive an additional 5% of their daily rewards. The site also gives 50% of all fees of users you invited using referral links. Bonus Bitcoin accounts are also connected to Coinpot, a micro-earnings wallet that accumulates your payouts. The site also provides the opportunity to earn Litecoin and Dogecoin.
This is one more faucet associated with Coinpot wallet. Bitfun started its work in January 2017. In addition to the faucet itself, which allows you to request free Satoshi every 3 minutes, the site has a large number of browser games of various genres. Progress in these games gives you additional earnings. You can also earn coins by completing offers. As with Bonus Bitcoin, the user receives 50% of the fees of their referrals.
The service was launched in 2018 and has become known as one of the best free bitcoin generators. There are several ways to claim Satoshi. In addition to the faucet, you can also earn bitcoins by watching videos, clicking on ads, and playing browser games. Here you can make claims once every 12 hours and get a certain number of Coins to your account. Coins are the inner currency of this service, 10000 Coins worth 1$. It converted to Satoshi at the time of withdrawal. Rewards can be collected at FaucetHub, another web wallet for micropayments, in this case, the withdrawal limit is 35,000 Coins. For amounts over 100,000 Coins, withdrawals can be made directly to your bitcoin wallet. Or you can keep Coins at the site and earn 5% interest. Users can earn a loyalty bonus, by claiming rewards every day. Bringing another user via referral link gives you 25% of their claims and 10% of their offer earnings.
PentaFaucet is one of the oldest and most stable bitcoin faucets today. The main difference from similar websites is that the site uses double protection: captcha and anti-bot. You can collect from 5 to 25 Satoshi every 5 minutes. A reasonable amount of advertising and a simple interface make working with the faucet comfortable. The faucet does not allow you to earn money from games, surveys, and other sponsorship services. In addition to the main method, it offers only a referral program, giving 10% from earnings of each new user. Earned Satoshi are instantly transferred to the FaucetHub wallet. You can withdraw your funds from FaucetHub to your bitcoin wallet once a week on Sundays.
FireFaucet is a multi-currency automatic faucet, perhaps the best of its kind. This resource allows you to earn 9 cryptocurrencies at the same time, as well as instantly withdraw the accumulated funds to the Faucet Hub. The Auto Claim function allows for collecting currency automatically. You can change the number of currencies to get and the time between collections. FireFaucet affords many different ways to earn money: in addition to the faucet itself, there are also offers, a referral system that gives 20% from newcomer’s income, and browser mining. FireFaucet also has its own unique level system: getting XP for various actions on the site and raising their level, users receive a reward in Satoshi. As a pleasant addition, FireFaucet has a nice-looking design and does not use pop-up ads.
This bitcoin faucet does not require registration. All you need is the public address of your BTC wallet. Users can claim Satoshi every hour, getting from 5 to 1200 each time. At the moment DailyFreeBits is using the FaucetHub wallet we are already familiar with. The resource offers a referral reward. By inviting new users to the website, you can regularly receive 10% of their earnings. These are probably the best bitcoin faucets at this point. Do not expect that you will earn loads of money just using faucets, but it is with no doubt an interesting and easy way to get a certain portion of free Satoshi and learn how the cryptocurrency and various wallets work. Always be careful and study every site that is claimed to be a Bitcoin faucet with some scepticism. Always be critical of your choice and read reviews. Original article was posted onhttps://stealthex.io/blog/2020/05/28/best-bitcoin-faucets/
I started working with bitcoin when I was 21, left my Masters in CS from ETH Zurich and today I have a small crypto hardware company whose only goal is to truly enable mass adoption!
A couple years ago being just another computer geek, I earned my way into ETH Zurich to pursue an MS in CS and at this time was working simultaneously with a Swiss FinTech company that was using "blockchain" technology for their product. Long story short, falling down the crypto rabbit hole, I eventually left this job and my position as an AI research assistant and started working on this little device that is literally the next logical step in the bitcoin payments lifecycle. If mass adoption is to happen -
Anybody in the world, tech savvy or not needs to be able to use crypto as easy as using fiat currency, i.e. instantly and safely.
Stay in control of your funds at all times - not a bank, not an exchange and not some intermediary.
Hardware wallets solve point #2. I loved watching the development of the trezor and their success over the years but funnily enough I was also a drummer touring around Europe with a german band during this time and while going to a bunch of different countries that all had different currencies, me being from a "third-party" country had to convert money from my home country to whatever currency I needed and the rates/deposit time for this was ridiculous. Being an early adopter I still couldn't use crypto as a currency anywhere! My trezor just sat at "home?" keeping my crypto safe. This is exactly why I started working on lastbit. What started off as a simple hobby quickly turned into an elaborate plan and I left my Masters mid-way (Background: I'm Indian - trained to get straight A's all the time but never actually use any of that knowledge. Best decision ever, leaving uni) to work on this full time and over the last year built a few generations of prototypes, learnt how to do business and raised capital (The hard way)! (Building a company is hard, building a hardware company is exponentially harder!) All in all, I worked my ass off to build this little company, team, raise funds and now we're ready to slowly start rolling this out (lastbit.io). I've spent countless hours on crypto subs and it's about time the community started getting involved. No shitcoin, no bullshit, just pure love for all things complex. A very very very short example of the thought process behind this Example: I own 100 BTC. I store it on my ledgetrezor - 1.1 I would never take my ledger out with me casually for a stroll to the coffee shop, it's way too much of a risk. Instead my ledger sits in my drawer collecting dust but I trust my coins are safe at home. (lastbit - Leave your cold wallet long term storage funds at home on a secure encrypted micro-SD card. Take your "hot" but secure spending wallet anywhere - Hodler works wirelessly with a mobile app. NB: Both wallets are on secure elements! Example: Leave 99 BTC at home and take 1 BTC out with you. Worst case, lost your wallet? No problem, backup is at home or 6 different places around the world and nobody can crack your device). 1.1.1 Plus, why would you even take it out? Merchants are never going to buy a new POS terminal to accept bitcoin. Who accepts crypto? *(With this solution - Everyone. The Hodlers' aim is to work with ANY credit card machine in the world and you can pay with crypto without the merchant even realizing you paid with crypto.)* 220.127.116.11 Even if someone did accept crypto, is it feasible to pay with bitcoin today? Waiting 1 hour in line to buy coffee? *(With this solution - Instant transactions over LN)* Leave a comment or PM if you would want to support this, work with us or be a bigger part of this. Any help/feedback is appreciated. TLDR: Left prestigious Masters program to work on crypto project. Turned into company (lastbit.io). Can use help from the community to take this further. EDIT: Thanks for all the comments everyone, that was really quite an overwhelming response. Way more than I expected and a ton of constructive useful feedback from everyone here. Yes we need to work on branding, logo, explaining the project in simpler terms and the name of the device - Hodler clearly isn't the best idea. Some pretty cool suggestions, thanks again! Will continue to keep everyone who signed up, in the loop. As far as everybody asking about jobs/open positions go, we could use an experienced hardware/embedded systems engineer and/or a digital marketing person - We are exploring the possibility of a kickstarter to fund this after the minimal beta and I suppose marketing is imperative for a successful campaign.
How I Got Paid By 65 Different Beermoney Programs in 2018 [Guide]
How I Got Paid By 65 Different Beermoney Programs in 2018
Hi! Welcome to my guide for everything that paid me in 2018. Before I begin, here are a few details:
I do this completely on the side as a hobby. I have a job and am in school full time. This is just “extra”.
I don’t really do passive video programs and I don’t have a phone farm. Also, no mTurk.
I did not include referral earnings, and all of my earnings I included here are earned within the sites’ TOS and without exploiting any site.
I only counted earnings as what I actually cashed out of sites and received.
My selection of sites I use is very diversified, so you can make a lot more on some of these programs than I actually do. I just spread my time across a lot of different sites.
There are a couple ref links in here and they are clearly marked as so. I only included ones for less popular sites and ones that give a bonus to you guys when you use them. If you want a ref link for sites like Swagbucks check out the common beermoney sites pinned post and use one of the links on there to help someone else out :)
This was my top earner for the year and it only took me up until September to earn this amount. I had to stop because they require a W9 for anything over $600 and I was too lazy to file that. It is pretty similar to a traditional survey router, but I seem to have much better luck with not disqualifying here. I get paid $1 per survey but some people earn $2 per survey based on their demographics. Some people have issues with bans and getting locked out of accounts, so it is not for everyone. Because of this, it is important to cash out the minute you hit the cashout minimum of $10. There are both android and iOS apps but I highly recommend using android if possible because the iOS app pays in iTunes gift cards and the android app pays in Amazon gift cards. Overall, Quickthoughts is great if you are one of the lucky ones without account issues.
This is one of my favorite beermoney programs of all time. You complete a variety of very short polls and questions about consumer goods, food products, and services. The polls pay 1.5 cents each and the short answer questions pay 10 cents each. There are other ways that they ask questions, including longer surveys that are a combination between the polls and questions. All of them are well worth it for the time that they take. Reward options include Amazon, Target, Walmart, Steam, Xbox, and more. You can cash out starting at $5 and I am able to cash out about once a week. Definitely add this one to your routine if you have not yet.
This one is great. Take academic surveys for universities and researchers and get paid in cash. As long as you don’t miss attention checks you won’t get disqualified. Some people get multiple surveys a day and others get only a few a week based on demographics. Many pay at least minimum wage. I could have made a lot more on here if I tried. Universally regarded as one of the most “worth it” survey sites so give it a shot!
Pinecone pays a guaranteed $3 for 10-15 min surveys regarding opinions on new products. They also send free samples sometimes! You can cash out for a variety of gift cards or PayPal. I get about 1 survey a week on average. Pinecone is invite only so look for invites to sign up on other GPT sites as sometimes you can find them there. If you get in it is some of the best money you can make with surveys for the time you spend on it.
Branded Surveys has traditional router surveys. A major perk of using Branded used to be their generous daily login bonus. This has been reduced to 5 cents a day, so it might not be worth using this site for the login bonus alone anymore. They have a very high EngageMe rate at one cent per 3 videos if that’s your thing as well! Payouts start at $10 via Paypal and Amazon.
Big fan of this one. Their surveys have guaranteed rewards even if you screen out and can pay up to $2-3 for like 10-15 minutes. Their currency is “shells” and each shell converts to about 7 cents. Installing their meter on your devices adds a guaranteed 5 shells per survey. If you add it to your computer, phone, and tablet you get an extra 15 shells (about a dollar) per survey. I just have it on my computer so I get 5 bonus shells. Cashouts are quick for e-gift cards and they also offer physical items. Saving up for larger gift cards typically gives you better rates.
PrizeRebel is your typical GPT site with a variety of ways to earn, but it is most well-known for surveys. They pay $0.80 per survey on the YourSurvey router and that is where a majority of my earnings have come. Lots of cashout options starting at $2.
YouGov is a survey site/app that pays anywhere from $0.50 to $2 per survey. The best part of it is that you never disqualify. I get a couple surveys a week. Most of the surveys are about public policy, politics, or general opinions of companies. You get the best value for your points if you save up for the $100 cash out. They offer the $100 cash out in bank transfer and Amazon. The Amazon gift card option used to be a physical mailed card but now its an e-gift card so that makes it even better! They offer other gift cards but they are for smaller values at worse rates so I would avoid them. Available online, on android, and on iOS.
9. iMoney - $89
Get paid to download apps! The best thing about iMoney is that the apps always credit and you can get credit for apps you have downloaded before. That’s not the case on most paid-to-download apps. Earn 15-30 cents per app and there are 3-4 new apps available each day. They offer Amazon and PayPal but PayPal has a small fee. Added this towards the end of the year and hope to make more next year. Might not be in the app store at the moment? Couldn’t find a link to put in the title.
Roll dice, get points, redeem for physical items and e-gift cards. I get the daily spin rolls every day and watch their ads for more rolls. The key to VeryDice is saving up approximately 100 rolls before rolling to have enough to get the daily doubles bonus of $0.30. Worth keeping on your phone even if it’s just for the daily spin rolls. Available on both iOS and Andoid. If you want to enter my ref code at sign up you’ll get 30 free rolls :). It is 1319422.
Sign up and receive invitations to surveys via email. Don’t do their “partner surveys”, they rarely credit and you can get stuck in an endless loop. Their non-partner surveys are awesome. They pay well for the time spent but they also have one of the best disqualification bonusses I have ever seen. Every three surveys you take, regardless of whether you disqualify or not, you get a $2 bonus. That is $0.66 per survey on top of its base pay regardless of whether you qualify or not. They pay instantly with PayPal, Amazon, or Bitcoin.
Do you like movies? Then this one’s for you. Watch, rate, and tag movie trailers to earn Amazon gift cards. Each trailer has three stages and after completing all three you will make 23.5 cents per trailer. One thing to keep in mind is that you need a physical verification card sent to a US address in order to activate your account. I completed basically every trailer that was posted over the year, so my earnings are a good estimate of what you can plan on earning.
There are three main ways to earn here: a 3 cent daily login bonus, 7 cent location rewards for opening the app when a notification appears, and surveys. If you’re going to do surveys on here do relatively short TapResearch ones. The location rewards alone are why I use this app. The one negative of this app is that the cash out minimum is $25. Definitely worth having on your phone!
This is a pretty normal survey site. They have a daily login streak bonus that can double the value of your surveys when you reach the max streak which can make a lot of them worth your time. I stopped receiving surveys, so I assume I’m banned? So be careful with this one. Cash out minimums are $25 which is higher than I would like.
Another one of my favorites. Survey Monkey Rewards is a survey app created by Survey Monkey, a big name in survey development software. Surveys all take under 3-4 minutes and pay either 25 or 35 cents based on length. I almost never disqualify, and you can cash out instantly to Amazon starting at $5. Available on Android and iOS.
Earn.com lets people pay Bitcoin to contact you. I mostly received BTC to sign up for ICOs and airdrops for random tokens. They were aquired by Coinbase so there are changes to the program. They require a LinkedIn to make an account now as well (I think). If you can get into the program still it is pretty great!
This is a sister-site to Swagbucks. I have decent success with their surveys so I use it for that. They have some other ways to earn but I don’t use them. If you have the same success with their surveys it might be worth using.
Basically a smaller and sketchier MTurk. Lots of short tasks with decent earning potential but you have to find the right type of tasks for you. I did the click, search tasks for a while. There is PayPal with a $9 minimum but if I remember right they mail you a physical card with a pin before you can cash out to verify your identity. Not for everyone but worth a look.
This one is pretty simple. Get surveys on your phone, and redeem for Amazon, Visa, PayPal, and Starbucks! Surveys range from $0.50-$10. Some are location based and involve in-store activities. The more involved the surveys are, the more they pay. Don’t expect a ton of surveys, but many of them are worth your time. Available on Android and iOS. Minimum cash out is $10.
This survey site is average at best. I am having less success with them recently because I can’t be bothered to take a 20 minute survey for $0.90. The one benefit of this site is that they have a VERY small disqualification bonus. Some people do have success taking surveys on here and the cash out minimum is $10.
Another survey provider with no disqualifications! Woohoo! You receive email notifications when you have a new survey. Surveys pay $0.50-$2 and are usually not too long. They pay via a points system and you get better rates if you save up for the higher rewards. I cash out for Amazon, and they can take a long time to deliver rewards so be patient.
MooCash pays you to download apps and then open them for 3 days once a day. I have gotten paid as much as $2 for a single app download. They don’t always credit super easily so I would only try the better paying ones. You can cash out for BTC, Amazon, PayPal, and more. You can use my ref code (EHNPNC) when you sign up for some free coins. I think it’s only available to the first 20 people.
Short surveys with minimum PayPal cashout of $15. There are short surveys to collect demographic information that pay 10 cents. If you qualify for any of the longer surveys they can pay as much as $1.50. Surveys can be sporadic so just check the site once a day. Worth the time it takes to put into it.
UsabilityHub, now rebranded to UserCrowd, pays you to give feedback on websites and products. Each task pays anywhere from 10-50 cents and the minimum cash out is $10. UserCrowd is nice because unlike other usability testing sites you don’t need to record your voice or screen. I leave it in a pinned tab on Chrome and get notifications when there is a new task. They can vary in how often you get them. I enjoy this one, give it a shot.
This app has very short surveys with guaranteed rewards. You never disqualify or anything like that. I get a notification that I have a new paid survey about once a week. Surveys pay 30 cents to start but as you “level up” they become worth slightly more. Right now mine are worth 34 cents. Cashout is at $5 via PayPal. Available on iOS and Android.
This is the best sweepstakes app I have used. You get entries into the sweepstakes by watching videos. Each video is an entry. I watch 10 videos a day and usually win either $0.50 or $1 each day. It pays via Perk points so it’s a nice supplement to your Perk routine. If this keeps being so easy to win I should make a lot more with it next year! Available on Android and iOS.
I started using Dabbl towards the very end of the year. They offer short brand-sponsored polls and videos that pay anywhere from 5-20 cents. These are super infrequent and cashing out from these alone would take the better part of a year. Where I earn with Dabbl is their non-passive ads. You get paid 1 cent per ad so I run them when I’m doing other things. It adds up. They don’t offer Amazon so I cash out for Target. Cash outs are at $5. iOS and Android.
This is a pretty fun game show app. To summarize the game, you pick a percentage that you think a product will sell out at, and if you’re within the closest few people to the right percentage you win a decent little chunk of cash. I’ve won once. You can buy discounted products on here as well. Go check it out, it’s pretty addicting. My ref code is “Leeves” if you want to throw some bonus guesses my way :).
Take short polls and quizzes and get paid 6-25 cents a day. The unfortunate thing about KinIt is that they very rarely have their gift cards in stock. When they have them in stock they have a decent selection. Still worth your time in my opinion. iOS and Android are supported.
32. Life Fun and Everything - $25
This was an invite-only survey panel that gives me a $2 survey once a month. Found it on some GPT site.
Install Panel on your phone and get paid for sharing your location data. They drastically reduced their pay rate recently so I’m not sure it’s worth it anymore. Previously you could expect to make about $25 a year.
Short polls that pay anywhere from $0.50 to $1. I get about one a week. Only downside is that the minimum cash out is $25. Various gift cards (including Amazon) are available. Definitely worth keeping on your phone. I think it’s iOS only at this time.
One of the easiest GPT sites to use. Lots of offer walls and surveys. I don’t make a lot here but basically just do daily search, daily poll, Swago, and SwagIQ. If I wasn’t banned from their surveys for some reason I might make a little more. I use swagbucks from time to time to find easy offers to do. Overall, a decent place to start of you’re experimenting with beermoney for the first time.
This app uses your location data and pays you 10 cents (sometimes more) to fill out a short poll about stores and restaurants that you go to. They recently added e-gift cards instead of physical cards so that makes it a lot more attractive to use! iOS and Android.
This is one of the better apps that give you rebates on select grocery items as you shop in-store. If you buy a lot of groceries, there is money to be made here. They also have traditional online cashback portals and offers.
This app has surveys with a more personal and fun spin. You get paid via PayPal for each task that you finish. There aren’t always tasks available but when there are, they often pay well. I had one for testing an app that paid $9! It’s a nice option for something a little different than traditional surveys.
Attapoll is a survey app that sends you more traditional router surveys (many of which are Cint surveys). You might disqualify quite a bit here depending on your demographic so I stick to the short ones. Payouts are via PayPal, Bitcoin, and Ethereum. PayPal starts at $3 (nice), ETH at $3.50, and BTC at an insane $100. On both Android and iOS.
Smores is an Android lock screen app that pays a flat $0.10 a day for unlocking your device once. Their non-passive video section pays a cent per 2 videos at the moment so that can be a decent earner as well. Cash out as low as $1 for Amazon and other gift cards. I was pretty inconsistent in my daily unlocks this year and hope to increase my earnings next year.
Very straight forward. Do surveys, get paid. Some people have success with this type of site, and others disqualify a lot. I would stick to any surveys under 10 minutes in length to avoid wasting your time. Cash out for Amazon or PayPal at $10.
This app pays you based on your steps. I have it connected to Apple Health. It took me about 9 months to earn $10 and I am pretty active. Android and iOS are both supported. Doesn’t run in the background or drain my battery from what I can tell so it’s very passive and harmless.
This is a GPT site with a few offer walls. They have good EngageMe rates as well as a 5 cent daily bonus as long as you’re making a dollar a week on offers on the site. This is basically the only truly passive income that I have made this year from running EngageMe.
44. Cross Media Panel - $10
This is a program through Google that paid you to let them have an extension on your browser and on your phone. They discontinued most of this program so I am no longer earning from them. Parts of this program still exist but I haven’t looked into it much. Probably just worth skipping over at this point.
Paytime lets you earn money for your subscriptions by watching ads and answering a few questions about them. You can only cash out once a month because it is supposed to be used for monthly subscriptions. All they do is send you $9.99 via PayPal or Venmo once you watch 40 ads. The catch with PayTime is that you need to be a student at one of the universities that they support. Check their website for the list. Overall, if you are a student it could be an easy $10 a month. Hope to use this more next year.
Get paid to play games! There is a new game every 48 hours and the top 20% of scores at the end of the time period get paid. The top player makes $7 and the payout decreases as you go down the ranks. I have won somewhere around $2.50 every game that I have made it into the top 20%. Pays via PayPal when you win. On Android and iOS. You can use share code “lucky-disk-68” if you want to give me some extra lives :).
This is a pretty bad healthy living/rewards site. I think they had a few easy ways to earn, like downloading their app, and that’s how I cashed out. There was a post about it so be looking for opportunities like these on the subreddit. I won’t be using this again.
49. Amazon Shipping History Task - $6
Look for tasks like this that get posted on the subreddit. Got paid to submit some shipping data from Amazon.
50. DailyWin - $6
This used to be a scratch card app with a non-passive video section but it seems to be dead. Move along, nothing to see here.
Take short polls. Get instantly paid small amounts of money via Paypal. Pays in GBP so if your currency is USD you get to take advantage of that increase in value. Polls are spotty but worth it due to the instant payout (so no minimum or anything like that). iOS and Android.
Answer polls and get paid! Pays via PayPal at $5. Very simple and fun to use. Just answer the polls whenever they are available and watch the points add up. Added this at the end of the year so hope to expand on this next year.
53. Brand Insights Polling - $5
I honestly have no clue how I got paid by them. I think I took a survey that I found from a Facebook ad or something?
Get paid to download apps! They don’t pay the best and sometimes have a hard time crediting but still might be worth a shot. The very best paying apps pay around 30 cents. Some pay pennies. Available on iOS and Android. You can use my invite code “4848a6” and get a few free points.
This app sends you occasional very short surveys from Google that pay 10-20 cents. Using Google services and being mobile seems to increase the number of surveys that you get. Some people get a lot, some get less. Worth just having on your phone. The iOS app pays via PayPal and the Android app just give you Google Play credits.
This app has polls for college students to take. I think you need a .edu email address? Their rewards kinda suck so I stopped using it but they had an offer to cashout for $5 bitcoin to the Ben bitcoin wallet so I did that. Maybe worth it depending on what reward options they have at the time. Android and iOS.
Scan receipts and get paid. I get 2.5 cents per receipt on average. They also have products that you can get rebates on when you buy (sorta like iBotta). They only accept grocery store receipts. A good addition to your receipt scanning routine.
This is one of the most straight forward receipt scanning apps. It pays 1-5 cents a receipt (typically 2 cents). Cash out starts at $1 for Amazon or PayPal which is way lower than most receipt apps. Very nice. Hope to earn more with this next year. Has both Android and iOS apps.
This app pays you $0.50 per sign to submit help wanted signs that you find around your city. I have never actually submitted a sign but got paid $0.10 per sign to verify the validity of other people’s signs. I’ve seen people make pretty decent money on here.
This one seemed cool at first. Take short polls, get paid $0.25 instantly via PayPal. The problem is that I never get polls anymore. Others have had the same experience. You might be able to squeak a few cents out of it. Android and iOS.
Hope this helps you guys out, and if you have any questions let me know! Let me know what I should add to my routine :). Thanks to everyone who contributes to this subreddit because I found many of these programs thanks to you! Have a great 2019!
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:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works.
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.
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.
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.
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.
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.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
1,000 per bitcoin
SI unit for milli i.e. millilitre (mL) or millimetre (mm)
1,000,000 per bitcoin
SI unit for micro i.e microlitre (μL) or micrometre (μm)
1,000,000 per bitcoin
Colloquial "slang" term for microbitcoin
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!
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