12-29 10:02 - 'A video of my friend explaining Bitcoin/Crypto for newbies and novices. It's a little long but I figured some of the forum members could get a lot out of this.' (youtube.com) by /u/CryptoClark351 removed from /r/Bitcoin within 149-159min
PSA: Someone is using a bot to downvote everything in this subreddit. For newcomers, please know that Bitcoin Cash has been under attacked for the last 4 years because Bitcoin Cash, a global peer to peer cash system, is a threat to banks and fiat currencies.
Usually, bull markets attract a lot of new investors - although speculators should be the right word here - and as usual, a lot of them are going to be crushed a way or another. First, before putting a single dollar, euro or whatever in the market, you should read a lot to know exactly what you're looking for. Are you here for the tech and/or the cypherpunk ethos ? Great, there's lot of resources out there (my links are cleaned but as always, do your due diligence) :
The Bitcoin Whitepaper, the one and only : bitcoin.org/bitcoin.pdf Since I'm linking to bitcoin.org, friendly reminder to avoid bitcoin.com, owned by a former supporter now con-artist Roger Ver.
Andreas Antonopoulos website : https://aantonop.com Andreas is one of best guys able to educate on bitcoin and its properties, for free, which helps.
Jameson Lopp website : lopp.net Jameson is a member of Bitcoin Core, cypherpunk, also able to educate a lot. His website is full of free resources and other links. You'll have a lot to read.
Hal Finney : he's unfortunately dead but I would advise to read about Hal Finney, the first to receive bitcoin Satoshi. A great cryptographer, the inventor of the first reusable PoW and one of the first bitcoin supporters. You'll be able to find his messages on this old forum Bitcoin Talk, by the way you'll be able to find the first chats about bitcoin on this forum bitcointalk.org
Monero website : getmonero.org Yep, I know it's gonna be controversial to post an altcoin link but personally, I think that Monero (aka XMR) is the only other coin with a big cypherpunk community, decentralized, and able to help newcomers with a great sense of responsibility, since the ethos here is to save privacy.
What Bitcoin Did : of course, Peter is controversial but I love him and I find his former blog and his podcasts very needed because he doesn't oversell himself. Pete knows that he's not a tech guy (like many of us) and just wants to spread the word, I think he does a good job with this.
Now, you've read and you want to put some skin in the game. Several exchanges are acceptable, a lot of aren't, be careful and assume that none really are (know that I won't post any ref links) :
to me, the best, although it's UI is quite old : Kraken €/$/pound/swiss franc on-off ramp
Coinbase and Coinbase Pro Difficult not to mention Coinbase, although I can't stand Brian Armstrong and the way they are doing their best to support scams currently. You should rather use Coinbase Pro if you have to since the fees are much lower.
Binance Binance came later than the previous ones but has managed to take most of the market. Now, you should remember what I said about being careful.
Huobi The biggest chinese exchange and they work closely with chinese official. Again, careful.
Bittrex Once at the top, now somewhere in the limbs.
A lot of new comers came recently like btse, ftx, feel free to try them while always keeping in mind that once your money is on exchanges, it's not yours anymore.
This was for centralized exchanges aka CEX. Talking about custodial, you'll need wallets to store your (bit)coins. Always try to use non-custodial wallets, which means wallets that give you your private keys. This way, if the software goes down, you can always retreive your money. Now, I won't link to all the existing wallets but will advise you to buy hardware wallets (trezor or ledger but there are others) or to create (on off-gap computers) paper wallets you're able to store safely (against all risks, not only robbery but housefire). You also could use your memory with brain wallets but, my gosh, I wouldn't trust myself. For Bitcoin (or even Litecoin), Electrum software can do a good job (but save your keys). AGAIN, DON'T KEEP YOUR SAVINGS ON AN EXCHANGE Now, about trading : it's been repeated and repeated but don't chase pumps and altcoins. Yep, it's probably the fastest way to make money. It's also the fastest to lose it. I won't lie : I made good money during the 2017-bullrun and I took profits but I also forgot to sell some shitcoins thinking it would keep going up, now I'm still holding these bags (although I don't really care). I know that a lot forgot to take profits. Take profits, always take profits, whatever your strategy is. Don't fall for people trying to sell you their bags, for ICOs trying to sell you a product which isn't released yet and obviously, don't fall for people asking for your private key. Also, know that there's two endgames : accumulating bitcoin or fiat. I'm rather in the first team but whatever your strategy is, take profits. (Yes, I know, some will say accumulating ethereum or something else). It's true that a lot of ethereum holders made a lot of money during the last bullrun (ethereum helped me make money too) but I'm really biased in favor of bitcoin (and monero). So, pick your coin but again, do your due diligence. A lot of people here or there will talk about the best tech, the fact that bitcoin is old and slow. I would need another post to go further on this point but know that a lof of air flight systems are old too but reliable. Trustless and reliable is the point here. This is the post from someone who bought bitcoin seven or six years ago, who lost part of them, who spent part of them (but don't regret this at all), who is still learning and I hope it will help others, although it would need a book to be complete.
I am going to write a long article/rant against the Tether conspiracy. The reason is not that I have any vested interested, it’s not that I like the guys and secrecy of their project and it’s not that I don’t like transparency in general. But as with all conspiracy theories they need some sense of logic and I am here to provide this without insider knowledge. Just rational thinking as an investor.
What is Tether?
Tether is a *centralized* cryptocurrency run by the same people that run Bitfinex, one of the first and biggest exchanges. It’s ticker is USDT and you can find it in almost every cryptocurrency exchange. It has a price tied on the US Dollar but that is precisely the issue of the conspiracy theories. They claim that Tether is not actually tied to the dollar and that it’s value is used to prop up the value of Bitcoin. I will break down both arguments rationally.
Is it backed by USD?
First of all there is evidence form the long trial of NY attorney that is going on for ages. So let’s first understand something. Tether and Bitfinex is providing a worldwide service for cryptocurrency which is NOT legal tender in every country and has many rules and regulations. Therefore it’s totally unrealistic to think of it as a normal bank that needs to be super transparent to its shareholders. It provides a certain service to the cryptocurrency community that is supposed to not want to be traced. Now on the matter of if it is backed or not, this trial has revealed that it was indeed backed until a foreign government(s) froze part of their money supply in the order of 20% or so. After that they did a reverse ICO on Bitfinex and got the money supply they wanted. Now other reasons to debunk this theory if you are thinking straight:
It is absolutely impossible for all the cryptocurrency exchanges that deal with millions of volume to not know if something is wrong and expose themselves to systemic risk like that. It is like saying that JP Morgan doesn’t know if their Gold suppliers are scammers or not. Yes they do if they are the same suppliers for all the big banks. And in the end, if they are scammers, anyone reading this article is in no way to tell and now more about the truth.
Tether has had an audit (although not complete and controversial) that was done by a firm founded by US Federal Judges who would put their reputation in front if they were attesting to a scam. You can find the relevant article here.
Tether has kept its price peg. That is extremely important because in the open market if I know that Tether is unbacked that means that I should short sell it because the price will drop. But the price hasn’t dropped. When FUD was abundant the Bitfinex guys were actually buying their reserves on discount! That is incredible because they made money on people speculating on their reserves that they knew (I suppose!) that were there.
First of all I will start by saying that nobody knows when the Bitcoin market is going up, down or sideways. There are too many variables and unknowns even to the higher echelons of Bitcoin hodlers (see whales). As an example a Japanese liquidator was selling en masse Bitcoins in 2018 in the open market without anybody knowing it. Also, bubbles get created by pure mania. Nobody needed Tether to pump in 2017, you could go in taxis and the cab driver would tell you to buy altcoins! Nevertheless there are at least 2 opposing studies done by universities where one finds that it was indeed the culprit and the other one finds that price was irrelevant and no wrong doing. You can chose your medicine here. The fundamental fact that newbies scream about in the forums and it’s absolutely driving crazy is this: Tether is supposed to “print” more when exchanges ask for liquidity because of increased deposits. It is extremely tiring to read every day on reddit that “Tether prints another 4 million USD” kid of posts that assume that this is money that is non-existent. No, that’s not how it works. On the opposite side, Tether also burns tokens, something that very few know, realize and understand. So the act of adding liquidity is obviously correlated to the price because liquidity increases when big market movements are coming. That doesn’t and can’t prove of manipulation. There was this famous Bitfinexed account on Twitter that went silent. A guy that was obsessed for years and years with Bitfinex.
I am not saying that Bitfinex and Tether are legit. I am saying that as an investor I need to take a critical look at what’s going on and stop hearing cassandras. Yes maybe they are scammers and maybe they will default. If this happens it means that most or *all* of the cryptocurrency exchanges knew and nobody said a thing. That means that you know better than the NY attorney that confirmed they were in possession of at least 80% of their reserves and the other ones were confiscated. To make things simple, your local bank doesn’t have 80% reserves today if needed. I hope I am correct because Tether could take down the price of Bitcoin a lot if it fails but it won’t be a death blow for sure. The are other stablecoins that are gaining traction (see GUSD,USDC,DAI). P.S If you find value in what you are reading subscribe to the newsletter.
How and where to buy cryptocurrency? One of the most popular queries on the network on the subject of cryptocurrency is how and where to buy cryptocurrency and avoid mistakes. Dealist Solutions, as a team working in the field of customer support for ICOs and cryptocurrency exchanges, is familiar with a considerable number of situations in which users of crypto projects find themselves. And this information will be useful, first of all, for newbies in working with cryptocurrency. Where to start? 1. First of all, you need to get acquainted and understand what exactly you want to buy. In what sphere to develop. Read information about what coins are, what alts are and other concepts from the world of cryptocurrency. Fortunately, there is a lot of information on the network. 2. Choosing a platform to buy. As a customer support for a cryptocurrency exchange, Dealist Solutions believes that the best option is, of course, a cryptocurrency exchange. Along with buying coins “by acquaintance” on the forum or simply by an advertisement on the Internet, you risk 99% being deceived. 3. To decide on the exchange, you need to make a small list of 3–5 platforms, analyze the site, information about the requirements and rules, feedback on the platform, the size of the commission and evaluate the customer support of the exchange. After all, if something goes wrong, it is important to know where to go for help. 4. Register on the exchange and it is better to immediately go through the verification procedure (KYC). On a number of exchanges, the procedure takes a lot of time, more advanced and customer-oriented ones will confirm your account within 24 hours. 5. You don’t need millions to get started. For a start, it is worth making a deposit of several tens of dollars, euros. You can deposit funds on the exchange from a bank card or using crypto exchangers and payment systems (AdvCash, PerfectMoney, Qiwi). 6. Choosing a currency. Well, you read what is in trend now, what is stable and reliable, what is popular. Go ahead! Just don’t risk a lot, at least at the very beginning. 7. For buying and selling on the exchange the order is created. You choose the cryptocurrency you need to buy, set the price and wait for someone to buy it. We would like to draw your attention to the fact that if the price is not the market one, then you can wait for a very long time. “Why doesn’t my exchange order work out for a long time?” is one of the frequently asked questions to the customer support of the cryptocurrency exchange. The only possible answer here is to slightly change the price. One more nuance! Many projects and cryptocurrency exchanges offer to get coins for free for registration. It will definitely not be bitcoin or ether, but there is still a chance to get something promising. Moreover, it`s a good practice for the start. By the way, most likely you will not be able to withdraw these coins. They are given in the minimum amount, usually insufficient for withdrawal from the exchange (less than the minimum). The choice is yours. Be careful, gain experience and invest in cryptocurrency. And Customer support Dealist Solutions will share their experience with you https://dealist.solutions/support-ico-en.
[ Bitcoin ] Who am i and how i’m earning money on cryptocurrency for last 3 years.
[ 🔴 DELETED 🔴 ] Topic originally posted in Bitcoin by Apytioh [link]
Hi reddit. I’m newbie here. My english is not good, especially grammar but i hope that you will understand my message. Im from Kazakhstan, Central Asia. Last 3 years i am earning only on crypto and every year my earnings are growing. I have a lot of stories which nobody will post here. But the last 5-6 months i became active forum user. Firstly i was posting on russian forums and now i came to reddit. Do you want me to continue my story telling?
Apytioh your post has been copied because one or more comments in this topic have been removed. This copy will preserve unmoderated topic. If you would like to opt-out, please send a message using [this link].
10-15 01:35 - 'Coul someone explain to me the context of this meme' (self.Bitcoin) by /u/Impawa removed from /r/Bitcoin within 1304-1314min
''' I saw this meme on a spanish forum saying the following: It translates>> Crypto newbie holding their DeFi tokens *insert image of struggling man * Apparently it was funny but i´m new to this so i need explanation. Also about the DeFi concept [for some reason this was taken down on bitcoin begginers]1 ''' Coul someone explain to me the context of this meme Go1dfish undelete link unreddit undelete link Author: Impawa 1: *review.**dd.it/r9yv7*5*ezs51*png?*idth=*50&f*r*at=png*amp;au*o=**b*&***1*67c*bc4d5f*b99627****6480*8*9*861b*98* Unknown links are censored to prevent spreading illicit content.
My name's Plankton, I've been with Electroneum since the ICO of September 2017 as many of you have. I was a complete newbie back then. I knew absolutely nothing about cryptocurrency. So, I started to do research and didn't find what I needed to know. That changed entirely when I finally came across the official ETN Community Forum on September 1, 2018. I felt like I'd found my "home." The community members knew everything I needed to know. It was and continues to be an amazing place to be. I made some fantastic friends from all over the world because of that forum. Since then, I've joined several different chat groups, and I've learned so much from listening to the community members and still learning as the cryptosphere is rapidly transforming. We all know that crypto is the future. The dominance of fiat will not be around much longer. We've seen banks and governments change direction surprisingly fast, going from adamantly rejecting digital currencies, to accepting it rather quickly. And that's all down to communities like this one. Regulations got in the way, screwed things up for a lot of cryptocurrencies. The ICO boom and Bitcoin price peak of 2017 made and lost a lot of money for people. Some projects survived the crypto winter that ensured, and others disappeared into the night with people's money. Some scams, unfortunately, remain, which means we have to very vigilant and suspicious giveaways. The most common are those that ask you to send them Ethereum, for example, promising to send you back tenfold. Too good to be true! Yet, some people fall for these scams in a desperate attempt to make a quick quid. That is another reason why I like ETN. Before working with NGOs, we had GPU miners and ASIC miners, which were an issue because they were dumping all their ETN block rewards back to the market. Unlike what a few out there are saying, Electroneum is far from being a charity. It is a business, and they solve real problems for people in developing countries, particularly for the financially excluded and unbanked. I chose to promote ETN as far and as wide as possible. I enjoy being part of the crypto community in general and, in particular, helping community members on Twitter, Telegram, and now on Reddit. I've seen all the changes: the highs and the lows. I've been on that rollercoaster ride too. It's been fun a massive learning curve for me, and no matter what happens, I'll have learned so much from this journey. The miner has come and gone. We now have an Electroneum app, a freelance platform called AnyTask.com they also have ETNdonate.com, ETNeverywhere.com, and soon, TaskSchool.com. From my viewpoint, things look great for Electroneum and its community. A lot of people focus vastly on the price. They do not care about development, nor financial inclusion, NGOs, or the unbanked. They are solely in for the profit, regardless. I, personally, look into the future. Sure, price is important, but I have all the faith that it will improve in time. The team is doing a fantastic job building a real crypto ecosystem like no other. I applaud the team for what they have achieved in under 3 years . They're a fantastic bunch. But I also have massive respect for the community as it has been very supportive and critical to growth . 🤝 Thankyou for your time. Plankton.
Hi there!! I'm a total newbie learning and testing before actually buying Bitcoins. I have read several times that there's people who routes all internet traffic through Tor (although I'm also planning to set up an offline computer to generate seeds, signing and such). Now I was willing to try but I found out that it doesn't route "all" in forums and that it isn't a thing that a Linux newbie should try doing at all. For example, Tor web literally say: "Using Tor as a transparent proxy is HIGHLY DISCOURAGED. Do not attempt it unless you know what you are doing!". So, in your opinion and since (sadly) I won't ever be sooo rich in Bitcoins: Would you just use the user-options offered by Tor with my online pc in a 2of2 signature system with Electrum?? Would you feel safe that way? Further, assuming some risks about my ip being leaked anyway, would it matter if seeds and signatures are always generated offline?? Take in count: I won't buy a pc able to run Whonix. If necessary, I can buy a basic x64 pc, but not sure if it would be enough for Qubes with my budget. At the point, my investment would be buying a basic one for keeping it offline (as I can use appimages on it; installing and updating offline with outdated x32 is being hell for me) and using my old laptops to go online. BTW, I'll also need this x64 one in order to run Tails, which won't work on x32 laptops. Thanks so much in advance and sorry for my English!!
First of all, I am 18 years old, I learnt to code Python (and some other languages) about 4 years ago, I have absolutly no qualifications in coding or computers in general. I feel that I'm quite proficient with the basics. I've built a few applications, webscraped a few sites, made a few (very very simple, and basic) discord bots and helped out on a few forums. After a long break (about a year or two) I have decided I would like to try and get some money by coding as a freelancer. I looked on Upwork and a few things have me concerned.
A lot of the terminoligy scares me. A lot of the jobs look easy enough, but there are tags such as data science (that I know absolutly nothing about). Looking at the job description I think I could do it. I am concerned that I might apply for a job, and discover later I can't do it. How should I deal with this (sorry this would also make the first work I've ever done for a company as well)? I don't really want to get hired and "Oh sorry, can't do it" halfway through. I would hope people would know as soon as I applied, although it's best to prepare.
I only really want to work evenings (and during my spare time), are companies likely to be put off by this (I still have studies)?
Am I likely to get video interviews for really short term work (I'm looking no further than a month for now, just because I want to get a taste for it)? How about one off jobs (like fixing bugs ect) I need to know so I can look my best!
I can't really accept a very wide range of payments. Is this a problem? It looks like bitcoin at the moment, but I'm looking into other methods.
Any help for newbies? Would be greatly appreciated :)
Withdraw your funds from the Blockchain This question is of interest to every newbie who discovers cryptocurrency and is considering the possibility of investing in it. Dealist Solutions, providing customer support services for crypto projects (ICO, cryptocurrency exchanges), can confidently say that every fifth question from Customers that comes to us is about this. How to withdraw money? What do I need to do? In essence, we are talking about a simple currency exchange, like in a bank. Bring one currency and exchange it at the rate indicated by the bank for another one. Only virtually. The main resources for this are: 1. Exchange 2. Crypto exchanger 3. Electronic payment systems (EPS) What are the nuances when withdrawing funds “from the Blockchain” through different platforms? 1.Exchanges Withdrawing a cryptocurrency from an exchange is a fairly safe and inexpensive process (meaning withdrawal fee). But on most exchanges, for withdrawal (sometimes for a deposit too), you need to go through the KYC-verification, which means to provide your data: fill out a questionnaire, indicate your surname, name, address, identity document data (the document itself, by the way, will also need to be provided in the form of a photo or scanned copy), provide your photo and confirm your agreement with the rules of the cryptocurrency exchange or ICO platform. Far not all exchanges offer withdrawals onto the card, or the choice of currency for withdrawal is limited (usually we are talking about dollars, euros and sometimes some national currency — Russian rubles, for example). So you still can do nothing without the services of a crypto exchanger or payment systems. Furthermore, for many exchanges, withdrawal is a long process. Let’s be honest, in start-up projects, funds are often stored in a cold wallet, and the management of the exchange makes a “manual” withdrawal not immediately, but on average — within 24 hours. This, by the way, is extremely important to take into account if you want to make a withdrawal not to the card, but to the exchanger. On exchangers — the wallet address is active up to 3 hours, and if the withdrawal is made after 24 hours, you will lose your funds. To do this, be sure to check the details of the withdrawal with the customer support staff of the exchange. 2.Exchangers Crypto exchanger is a fairly simple service. You can find out the rate for the currency required for the withdrawal, get the wallet address, where to transfer it and provide the card details to which you will receive fiat in exchange for the transferred coins. The exchange rate on the exchangers, as a rule, is quite market, and the commission is tolerable (from 2 to 4%). But! Nowadays it is quite difficult to find a good exchanger that will provide you with quality service, and you will not be deceived. As a rule, such a withdrawal method is considered risky and is not used by experienced traders. And by the way, you shouldn’t believe the offers to exchange cryptocurrency from people from forums, social media chats and blogs. Most often, such ads are given by scammers that will deceive you and your funds will be lost. 3.Electronic payment systems AdvCash, PerfectMoney, Qiwi and others — these payment systems are very famous, reliable and accept some types of cryptocurrencies. In truth, the number of such currencies is limited, as a rule, they are Bitcoin, Ethtreum and Litecoin. And the fee for withdrawal from these systems is just gigantic — up to 6% (for comparison, the commission for withdrawal from a cryptocurrency exchange varies from 1% to 2%). Each trader must make his own choice which of the withdrawal methods to choose based on the situation and risks. The main thing is to trust proved platforms, clarify more information and do not risk using new and unpopular options. Customer support Dealist Solutions will not advise you badly (https://dealist.solutions/support-ico-en).
Attention, when you ask for support on this platform. You will be contacted by people with a user similar to the staff, who will call you to an American number (+1 757-788-3550) and will let you download zoho assist, they will ask for your name, surname and date of birth. They are scammers, I noticed the scam because the question: "To verify your account I need to confirm your data" He: Can you give me your full name? I gave a false name He: Can you give me your date of birth? I gave a false date of birth And they: "It's correct, let's go to the site ... put this number ... and download the software ... then click Join" Damn scammers
Nicked This Somewhere Not Reddit!!!! A short, but simple OPSEC guide for newer members. Written By CriticalMass!!!! Hey gang; These are tips you here a lot when browsing forums like TMG or The Hub. But I feel it would be good to make a thread so new members can understand a bit of opsec and will not need to ask much questions.
Don't use windows or mobile devices, because windows and mobile devices both track you and can be backdoored easily. Use a security-minded OS such as Tails or Qubes and Whonix.
When buying, use XMR and PGP. XMR is an anonymous cryptocurrency which is untraceable, unlike bitcoin. And PGP can encrypt communications so only you and the person your talking to see what your both saying. Other words, anonymous communications. Also, never use fake names or false addresses either, it will increase the risk of packages being caught.
Never give out any personal info. Any info you give of yourself can be used to create a profile of yourself for lea investigators. Be as anonymous as you can, make sure no one knows who you are in real life or what you do in real life.
PGP-verify urls. This is to avoid phishing, phishing is common, and PGP-verifying market or forum links can prevent that as well as using only dark.fail and darknetlive.com to get your links.
Never, EVER use clearnet emails or emails in pgp keys or forum accounts. Emails are not needed for market or forum usage, especially the likes of Gmail, YahooMail, or other clearnet emails. And yes that includes protonmail because they cooperate with lea investigators.
If there are anything I missed, please list down below. I hope this helps newbie members get their start.
White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum
https://preview.redd.it/giu1ssilga151.jpg?width=900&format=pjpg&auto=webp&s=41510785ccdc0d99544ec74229f62427d1c0ce3e Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc. There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”. The First Digital Currency White Paper — Bitcoin White Paper On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then. A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin. In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market. The First Public Bitcoin-Physical Transaction — Pizza Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value. Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin. This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza? The First Digital Asset Exchange — Bitcoinmarket.com After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk. In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0. On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend. The First Generation of High-Performance Miner — ASIC Miner When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts. In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs. At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”. In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network. At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history. It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era. The Birthplace of China’s Bitcoin — Garage Coffee It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to. Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry. ▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview. Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways. The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead. Website: https://www.58ex.com/ Twitter: https://twitter.com/58_coin Facebook: https://www.facebook.com/coin.58COIN Telegram: https://t.me/official58 Medium: https://medium.com/@58coin_blog/
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