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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
/btc was created to foster and support free and open Bitcoin discussion, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin industry leaders! Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever.
The Glassnode portal has published data on the influx of coins to exchanges from mining pools. It turned out that after the halving on May 11, miners reduced sales, and now their volume is much lower than the average values for 2020. Over the past two months, sale peaks were observed on May 3 and 7, when Bitcoin price surpassed the $9,000 and $10,000 marks, respectively. Service experts also noted that a surge in BTC price on June 2 above $10,000 provoked an eight-fold increase in the flow of traders’ funds to large exchanges. After the dip to $9,500, the indicators returned to average, which indicates the importance of the round level of $10,000 for market participants.
Toward the end of each month there is a sale-off of certain coins. Is that due to miners who need to sale coins to pay electricity bills? It would be nice if those costs were fixed so that miners could sell coins at regular intervals to keep the market flat, but I suspect that isn't possible since electricity costs probably depend on transaction volume over time. It seems like a monthly drop in bitcoin cost should be viewed as part of our investment in the bitcoin infrastructure for at least the next few halvings, and not a place for shorting the market or a reason to sale with what appears to be a demand trend. If this is true, demand hasn't actually dropped. After the few halvings when the market is more liquid and more people use cryptocurrency for regular commerce there will be enough cryptocurrency market use so miners can make enough money from transactions they won't have to sell coins to pay the electricity bills at the end of every month. Am I totally wrong about my understanding of how this system works, and am barking up the wrong tree? I have looked at the last two years worth of data and it holds true cryptocurrency based on computational proof of work are sold at the end of every month. Is that outside the scope of miners converting to local currency to pay electricity bills?
Bitcoin repurchase agreements... Bitcoin sale leasebacks... Bitcoin rentals... is that sort of what BlockFi is doing... except with basic Bitcoin backed USD loans?
I swap my Bitcoin with John Smith for an asset for an agreed upon term. At the end of the term, John and I agree to swap the collateral back to each other... can all of this be done outside the realm of capital gains? Is this another way to unlock the value of Bitcoin?
Square Cash App’s Bitcoin Sales Surge to a Record $148 Million
Square’s earnings and revenue exceeded analyst estimates aided by the company’s Square Cash consumer app. Square Cash App’s Bitcoin sales surge to a record $148 million. Global exchange- Cash App, the popular payment app from Square, was at first designed to enable fiat currency transfers, but soon started to support cryptocurrency trading. In the third quarter of 2019, Square managed sales of $148 million in bitcoin transactions. The surge in sales indicates Square’s American customer’s major retail involvement in cryptocurrencies. Square Earnings Exceeds Analyst Estimates According to the released earnings results report, in the second quarter of 2019, Square handled $125 million in bitcoin transactions through its Cash App, almost doubling the first-quarter high. Yet Q2’s bitcoin sales contributed just $2 million to the company’s gross profit. Square, in its Q3 investor letter, said: “We are increasing the upper end of our full-year 2019 total net revenue guidance by $110 million due to underlying trends in our Seller and Cash App businesses, as well as bitcoin outperformance in the third quarter.” Considering the low-profit margin on BTC transactions, it seems that more and more customers are finding their way to the Square Cash App for BItcoin investment. The letter also stated: “First-time Bitcoin buyers have approximately doubled and Cash Card orders have seen a meaningful uplift.” The company’s total revenue increased to $1.27 billion year-over-year by 44 percent, and adjusted revenue grew to $602 million year-over-year- Globalxchange The company’s net income in Q3 2019 was at $29 million, compared to a $20 million net income in Q3 2018. Square’s Cash Card is a free business debit card that allows sellers to spend their own money as soon as they make a sale.
Bitcoin ATM (abbreviated as BATM) is a kiosk that allows a person to buy Bitcoin using an automatic teller machine. Some Bitcoin ATMs offer bi-directional functionality enabling both the purchase of Bitcoin as well as the sale of Bitcoin for cash. Bitcoin machines are not exactly the same as traditional ATMs but work in a similar fashion. Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more. Based in the USA, Coinbase is available in over 30 countries worldwide. The world’s first cryptocurrency, Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. Bitcoins are divisible into smaller units known as satoshis — each satoshi is worth 0.00000001 bitcoin. Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. 0.5 Bitcoin $4500 QUICK SALE INSTANT DELIVERY to your Wallet . $4,500.00. Local Pickup. Classified Ad. Watch. Bitcoin 0,0003 BTC | Bitcoin straight to your wallet. $8.99. Local Pickup. Classified Ad. Watch. Venta De Bitcoin Btc Cualquier Cantidad Directo A Tu Wallet. $0.50. Local Pickup.
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