Cryptocurrencies

Laura

Daniil WebMoney

Thank you for the hint

Max9

Angelina Is BTC an abbreviation for Bitcoin?

yes, it is. There is BTC, the standard Bitcoin, and BCH, Bitcoin cash. BCH is a split up from BTC as the Bitcoin Foundation couldn't agree on how to go on and so then one part did split up as they had two different opinions on how to solve the problem of instant-transactions because the original bitcoin blockchain didn't allow more than 7 transactions per seconds what caused some clients to wait for several hours till the transaction is passed. Now as BTC changes its course several times within these hours short time investments were difficult to make because when you sell in time and the transactions take too long you can lose a lot of money waiting for the transaction to pass the blockchain database. BCH has invented a different modification of the original Bitcoin blockchain that allows 50 transactions per second to be passed. (I'm not talking about so-called short investments here. They are something different. Short tradings are when you for example sell a certain amount of shares that you don't own at the moment you sell them and you have to buy them afterward. I mean short-time investments ins the sense of selling them a short time after you bought them.)

Laura

Valadar This communist regime is putting a stop to that with a bill they have introduced…

I doubt it's even possible for many reasons

Angelina Is BTC an abbreviation for Bitcoin ?

I use BTC sometimes 😂

Max9 There is BTC, the standard Bitcoin, and BCH, Bitcoin cash.

Also BTG. But these sh#ty forks are over now, I wouldn't pay any attention to them

Angelina

Max9

Laura

i just wanted to make sure and frankly i don't really understand how bitcoin works but i don't care. it's speculative money and just like i expect the euro to fail at some point i expect bitcoin to fail too

Max9

Laura Yes, there's also BTG... but that didn't really make it... you hardly see it at any stock market. BCH can be seen more often. But still, for us investors, BTC is tge single original.... because many stock markets have real-time trading now for BTC.

Max9

Angelina Sure, any currency can crash at any time. That's why you never invest all your money in one single currency

Laura

Angelina i don't really understand how bitcoin works but i don't care

To receive and send payments 😂

Angelina

Max9

right, that's why we also keep expensive jewellery in the safe, of course the price of gold and silver also fluctuates, but it can be bought for any currency. 😉

Angelina

Laura

I can also do that in "normal" currencies 😉

Max9

Angelina Sure, but the advantage of BTC is that the exchangecourse goes up and down very fast and very far. That makes it easy to win money when doikg investments in it. That's why I love BTC.... and you can also "mine" them ... that's something like "printing" them. You just need a lot of voltage. If you do it riggt you cab win a lot of money, if you have a bad setup and business plan you will pay more money for electricity than you gain from printing it.

MaximeJourennes

Since a lot of people here (I am too) seem interested in cryptocurrencies, maybe we could create a topic to discuss about this ?
I'm mining some Ethereum 😉

Laura

MaximeJourennes maybe we could create a topic to discuss about this ?

Done

MaximeJourennes

Wow great ! Thanks Laura 😃
Anyone else mining some crypto here ?

Max9

MaximeJourennes I used to mine Butcoin, but that's not rentable anymore... Ethereum is the new Bitcoin.

Max9

Laura How do you cash out?

You cash them out at exchange services, usually your wallet provider can do that... some people, like me, also have a registration at a stock market where we can trade cryprocurrencies and directly exchange them.

Daniil But for legal things I prefer legal money. Legal money provide payment documents and etc

Bitcoin itself is not illigal, many people just use it to hide money fro mthe tax office, because it has very high security and anonymity standards. That's also the reason why you pay with them in the darknet.

It doesn't matter which currency you pay with, you always get payment ducuments and so on. In deed, there asre also more digital € notations on bank accounts as there is cash.

Johnathan Depends on your country.

That's true, some cuntries wanted to prohibit bitcoin, but I haven't heard of them acrually doing it (I might also not be up to date because I stopped trading bitcoin)

Renita Bitcoins have no jurisdiction

Bitcoin is not registered as an official currency by many countries because this registration would obligate anyone who lives in this country to accept the currency as payment. They don't want to do it because the EU and each other nation already has their own currency that is supervised by the national bank to preven it from crashing and having strong changes in value.

Megan Then store the bar codes on a hard paper wallet or a safe, or I don't know engrave the private keys onto some metal or memorize them or something.

Yes, there are many variations of wallets. The classical digital wallet hosted on a server where you have an online account, the software-wallet based on a program or app you downloas on your cellphone or notebook and the hardwallet, a wallet safed on a usb drive or electronical card. Some peopke also wanted to create a paper wallet ehere the currency is encrypted in a visual code that's printed on a sheet of paper - but I think they failed.

Renita Why privacy coins?

Privacy coins is acategory of cryptocurtencies that are fully anonymous. Bitcoin for example used to be anonymous and a so-called privacy coin, but since they got inegrated into common payment systems it lost anonymity and became pseudonymous, thst means that you are not anonym anymore but have a digital pseudonyme.
Bitcoin SV (BSV) for exampme is a privacy coin, I guess.

Laura Where do they send it to?

On you wallet (digital bank account)

Angelina

Max9 Bitcoin is not registered as an official currency by many countries because this registration would obligate anyone who lives in this country to accept the currency as payment. They don't want to do it because the EU and each other nation already has their own currency that is supervised by the national bank to preven it from crashing and having strong changes in value.

then you will certainly like the fact that my party is for the free choice of money 😃 we want to finally abolish the state monopoly on money and let all currencies (including cryptocurrencies like bitcoins) compete against each other in a free competition.

I am generally critical of bitcoins because I believe that every monetary system will collapse at some point because it only exists on paper, but I am surprised at how long the euro and the US dollar have lasted. 😂

Renita

Max9 Privacy coins is acategory of cryptocurtencies that are fully anonymous

Do you simply mean Monero?

MaximeJourennes

Max9 Absolutely ! Why are you not switching to mining Eth ?

Max9

MaximeJourennes Oh I did ... still have my miner running, but I actually don't actively invest into new technology. I also used to trade Cryptocurrencies at the stock market and at wallet providers.

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