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. It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for 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. You can even run a node on a Raspberry Pi.
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 scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply memorizing a string of words for wallet recovery (while cool this method is generally not recommended due to potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for new users due to ease of use and additional security).
Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) 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 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, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini 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.
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 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.
As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".
Where can I spend bitcoins?
Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
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. If you would prefer to keep it simple there are several good options. 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:
one bitcoin is equal to 100 million satoshis
1,000 per bitcoin
used as default unit in recent Electrum wallet releases
1,000,000 per bitcoin
colloquial "slang" term for microbitcoin (μBTC)
100,000,000 per bitcoin
smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 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. 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!
What is Bitcoin Cash and some exchanges to try out!
Bitcoin Cash (BCH) came about in August 2017 after a hard fork and a split in the Bitcoin blockchain. Bitcoin Cash is a direct result of the constant debates and many opinions about the future of Bitcoin’s scalability and mass adoption.
Bitcoin vs. Bitcoin Cash
Bitcoin’s blockchain has grown exponentially in recent times. This means that many more users are using the cryptocurrency, which is slowing down the network. The limited Bitcoin block size of 1 MB means that blocks are filling up quickly, resulting in a long queue of unconfirmed transactions. As a result, at peak times, transactions have become slow and expensive. Bitcoin cash, on the other hand, was initially created with an 8MB block, which was later on increased in size to 32MB. This change allows for more transactions to be processed in each block mined. Many see this as a step forward in terms of how best to scale the network. Bitcoin Cash opposers remain adamant that it’s simply a short-term fix that doesn’t solve the problem in the long run. Also, they claim there’s no implementation of ideas such as Segwit to help effectively break transactions down into smaller, more manageable pieces. Bitcoin Cash (BCH), Sometimes referred to as Bcash, is a fork of Bitcoin (BTC). When a fork occurs on a Blockchain, the currency is basically duplicated. This means that anyone with Bitcoins in his possession at the time the fork occurred, got credited with the same amount of Bitcoin Cash.
Buying Bitcoin Cash in 3 Simple Steps
Step 1: Get a Bitcoin Cash Wallet
Before you can buy Bitcoin Cash, you’ll need a Bitcoin Cash wallet to store it in. Hardware wallets that support Bitcoin Cash include industry leaders Ledger and TREZOR. Both Ledger and TREZOR provide functions for you to use Bitcoin Cash as you would any other cryptocurrency. Both have also introduced the ability to claim your funds if you already owned Bitcoin at the time of the Bitcoin Cash hard fork. Additionally, there are a variety of software wallets you can use to store Bitcoin Cash as well. Exodus provides a great user experience with a seamless coin exchange service known as Shapeshift built in. Edge is a mobile wallet for iOS and Android that supports multiple cryptocurrencies including Bitcoin Cash. It also has a variety of features allowing you to buy cryptocurrencies and exchange them from within the app. Electron Cash is a clone of the awesome Electrum wallet for Bitcoin. If you’re used to Electrum, then you’ll have no problem jumping on board with its sister technology. Other wallets that support BCH include Keepkey, BTC.com, Bitpay, and Coinomi. You can view all available wallets on the official Bitcoin Cash website. Once you have your wallet, you will need your Bitcoin Cash address. It’s a long string of letters and numbers that start with either a “1” or a “3” — similar to normal Bitcoin addresses. Since many people got confused and started sending Bitcoins to Bitcoin Cash wallets and vice versa, a new format was invented for Bitcoin Cash. The format, called “Cash Address” is 42 characters long and starts with a “p” or a “q”. Here’s an example: qpm2qsznhks23z7629mms6s4cwef74vcwvy22gdx6a Keep in mind that Cash Addresses are just a representation of original Bitcoin Cash addresses. This means that the same address can be represented in two different ways (normal format or Cash Address format). Not all wallets support Cash address format.
Step 2: Find a Bitcoin Cash Exchange
Most Bitcoin exchanges will also allow you to buy Bitcoin Cash, here are top ones around.
Buy Bitcoin Cash Through eToro
eToro allows users from around the world to buy and sell Bitcoin Cash with a variety of payment methods. eToro is more aimed towards investing in BCH for making a profit in fiat currency (i.e. Dollars, Euros, etc.) rather than actually using it. That being said, eToro does give you access to your coins and allows you to send coins from eToro to other people. If you use eToro for investment only, you don’t actually need a Bitcoin Cash wallet as you won’t be withdrawing the coins. *75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. CFDs are not offered to US users. Cryptoassets are highly volatile unregulated investment products. No EU investor protection.
Buy Bitcoin Cash Through Coinmama
Coinmama, one of the oldest exchanges around, allows you to buy Bitcoin Cash with a credit card, debit card or SEPA transfer. Coinmama accepts users from almost all countries around the world.
Buy Bitcoin Cash Through CEX.io
CEX.IO, based in London, is a trusted, experienced name in the industry, having been around since 2013. You can choose from a selection of cryptocurrencies on the site, including Bitcoin Cash. The exchange has a brokerage service (easier to use, more expensive) and a trading platform (cheaper but more complex).CEX accepts credit cards, debit cards, wire transfers and SEPA.
Buy Bitcoin Cash Through Coinbase
Coinbase is a reputable Bitcoin exchange that supplies a variety of other services including a wallet, a trading platform (Coinbase Pro) and a Bitcoin debit card. If you’re a beginner, it’s probably best to use the brokerage service which is a bit more expensive, but easier to use. Advanced users can use Coinbase Pro to buy Bitcoin Cash with lower fees. Coinbase accepts debit cards and wire transfers.
Buy Bitcoin Cash Through Bitstamp
Bitstamp, the oldest exchange around, supports the trading of BCH to Bitcoin and direct purchases with US dollars or Euros. There’s also an option to buy Bitcoin Cash with your credit card at a higher price. If you know your way around Bitcoin trading platforms it’s best to use that service and not the credit card service since you’ll save substantially on fees. Other options to purchase Bitcoin Cash include Bitfinex, Cryptmixer, Kraken, Poloniex, HitBTC, and more (you can view all available exchanges on Bitcoin Cash’s website).
Step 3: Transfer the BCH to your wallet
As usual, I recommend that you never leave money on an exchange. Once you’ve finished buying your Bitcoin Cash, move it to your own wallet (the one you chose in step 1). You can then follow the status of your transaction using a Bitcoin Cash block explorer. Once you receive three confirmations for your Bitcoin Cash, you can safely say you’ve completed the process.
It’s apparent that Bitcoin Cash has still not gained full acceptance by large parts of the cryptocurrency community. It still sits firmly in second place to its older brother in terms of both price and usage. Bitcoin Cash has the advantage of being the first major split that has garnered acceptance. Most forks after it didn’t receive nearly enough attention from the community or the media. However, with internal conflicts inside its founding team and accelerated Bitcoin development for scalability solutions, I’m not sure if there’s an actual use case for Bitcoin Cash other than price speculation.
Why has my coinbase payment still pending after 7 hours?
Hi all this is my first post on reddit so please be patient with me ☺I am new to using bitcoin this is my first time using it, and i am doing it through the coinbase android app. I have sent it to my electrum wallet which is also an app, I can't find much help online for the app but I have been watching videos online about buying and sending bitcoin so I understand it a bit. Is it normal for bitcoin to be pending for so long? Any advice would be much appreciated. Thank you all for your reply's it's actually coin corner I'm using not coin base 😳.
Hey there So I am new to bitcoin wallets in general and there's this tutorial I am following which requires me to use electrum app and I need public key along with the private key for the final step Being on android app I can easily find public key but private key is no where to find. So if anyone of you have could help with this process that would be great Thanks for your time
I have been looking for a mobile wallet and there are some apps that come up frequently in discussions such as Electrum. Something I find weird is that if you look up in google the first result takes you to this site which recommends bitcoin-wallet as the best one.If you look up bitcoin wallet in the playstore that app is also the first result.But I couldn't find a single reference here or in other sites listing good mobile wallets. What am I missing?
I have an bitcoin core + electrum server + LND node setup. Which android mobile app would be the best for connecting to my own lightning node? (Goal being for the most control/trustless). Some to compare would be Blue wallet, BLW, Breez, Phoenix, Zap, LightningLabs, Wallet of Satoshi and Eclair. Also what is the difference, to using "remote control" setup with something like Blue wallets LNDHub software, or setting up macaroons to connect to my node. Compared to doing it without, and just opening a single channel to my own node that is well-connected to the network? Shouldn't all transactions be able to route through my channel between my mobile and node? So there is no point to using remote control node software? Say my node has $1000 of channel liquidity, and I open a $200 channel from my mobile to my wallet. Shouldn't the mobile wallet be able to route my transaction via my node to anywhere? And then I can push the $200 back to my wallet from the node later when its running low?
So this is what software I currently use for privacy, would like some opinions if possible: Starting with my cellphone, my device is a Google Pixel 3A XL with GrapheneOS flashed, I have the following apps installed: F-Droid and AuroraOSS (as my app stores), NewPipe (youtube client), Vanadium (web browser), Tutanota and K-9 Mail (for e-mails), OsmAnd+ (for maps), Joplin (notes), Open Camera (camera), OpenBoard and Mozc for Android (Keyboard and Japanese Keyboard), Aegis Authenticator, KeePassDX (password manager), LibreTorrent (torrent client), Librera PRO (pdf/epub/mobi reader, I don't own a Kindle nor want to own one so I use my cellphone to read), Tachiyomi (manga reader), Signal (for messaging), Vinyl Music Player, VLC, Simple Gallery Pro and Simple Calendar Pro (I prefer them over stock Graphene options) and I also use Electrum and Samourai (Bitcoin Wallet) and Monerujo (Monero Wallet) I also have OpenVPN (for VPN) and use a private DNS for ad and tracking blocking (provided by my VPN provider) I have 3-4 PCs, will go over every single one of them: my main PC is a desktop PC (that I built myself) that I mainly use for working and other tasks. It runs Artix Linux (basically Arch Linux without systemd), I use UFW as my firewall (denying all incoming and also denying all outgoing only allowing what is useful) and I also use AppArmor Profiles, I disabled IPV6 and SWAP, configured my VPN connection as well on network settings and I currently run OpenVPN on my computer (my VPN provider allows for multi-hop cascade through OpenVPN in which I can create a custom VPN cascade up to four servers, each consecutive hop re-encrypts my traffic and assigns me a new IP address) and I've also set disk encryption on installation (have set in all of my computers) As for software: I use Mozilla Firefox as my web browser (I set it to always be in private mode, unchecked suggestions for browsing history, bookmarks, and open tabs, I've also disabled the Firefox data collection in settings and block dangerous and deceptive content, I use DuckDuckGo as my search engine, I use Firefox Home as my default as my homepage. The rest of my tweaks were done in about:config (using privacytools.io site tweaks + geo.enabled = false, network.cookie.lifetimePolicy = 2 and dom.security.https_only_mode as true which are not listed on the site) and the only addons I use are uBlock Origin on Hard Mode and Decentraleyes), KeePassXC (password manager), VIM (use it as a Text Editor and as an IDE for coding), LibreOffice (for working stuff), GIMP (image editor), VLC, qBitTorrent and Tutanota's Desktop Client and Thunderbird (for e-mails) I also use KVM/QEMU for virtual machines (usually in case I wanna test some distro or use Tails/Whonix) For my gaming PC (also a desktop I've built myself) I run Manjaro KDE on it, the only apps I have in the system are Firefox (same settings as above), OBS and KVM/QEMU (which I use a Win10 virtual machine for games, there are tutorials on YouTube on how to do so if you're interested). I have the same firewall settings as above, using AppArmor as well and I've also disabled IPV6 and SWAP, I run OpenVPN on it as well as my VPN DNS settings on network settings. I also use different mouse and keyboard on both my PCs and never mix them together. My other 2 PCs are both laptops, one is a Acer Aspire Nitro I've bought for work (in case I need to work while in a trip or if I wanna work outside etc), it has the same settings and programs as my main PC but I run Gentoo on it. The other laptop is an old ThinkPad that runs Slackware on it, but I rarely use it and this laptop is most of the times not with me for safety reasons. For some other devices and stuff: I have an Asus RT-AC86U router with OpenWRT flashed on it that I also run OpenVPN config files (this one coming from another provider, I use two VPN providers, on in my PCs and the other in my router), I have a Ledger Nano S as a hardware wallet for both Bitcoin and Monero (most of my cryptocurrency is there, I use hardware wallet for hodling purposes and as my emergency funding) and I have LOTS of USB flash drivers (all of them for Linux Live ISOs purposes), I also have a Nintendo Switch Lite (only gaming console I have, although have not been playing that much on it recently) that I only connect to the internet in case I need to download some updates or play online and after I'm done I immediately disconnect it from the internet. Some other privacy habits I have are: I don't own any smart device like Smart TVs (I've been more than 10 years now without watching TV, doesn't even bother me), Smart Fridges or Dishwashers that connect to your internet, ROOMBAS, Smart Home etc, I keep all my money on crypto (and I have a small amount in gold as well, but I rarely invest on it, all my gold is stored in a manual safe here in my apartment) and I only have like, 10 bucks or so in my back account (as soon as I receive any money I just left the necessary in my account to pay bills and put all the rest on crypto, I try to pay everything on crypto or cash), I RARELY use cloud storage, but if I need to, I go with NextCloud and encrypt all my files with VeraCrypt before uploading it, all my VPN services were paid with Bitcoin (I try to pay everything with crypto as previously said) and I never write directly into any website, I usually write my text on a text editor, copy it and paste it on the website (needless to say that I don't use mainstream social media as well) So, what do you guys think? anything that you would add your recommend me? (before anyone mentions about self-hosting a DNS server using Pi-hole on a Raspberry Pi, I'm actually thinking on doing it in a near future) EDIT: forgot to mention that I don't watch YouTube on PC on youtube site, I mostly watch youtube's videos on invidio.us and only use the youtube site for watching live streams honestly. And I also barely go outside with my smartphone (only if I really need to) and I usually keep it away from my computers etc. EDIT 2: also another thing: I covered all my laptop's webcams with black electrical tape, I have a Logitech C922 Pro webcam for my desktop PCs but rarely use it, and when I need to use it, I unplug it as soon as I'm done with it.
Support for both random and custom Electrum servers.
Biometric + Pin authentication
Custom fee selection
BIP39 Passphrase functionality
Support for Segwit-compatible & legacy addresses in settings
Support for individual private key sweeping
Ability to Sign & Verify Messages
Broadcast raw transactions
Special shout-out to the beta testers, amazing developers and people in this space! I sent this message in the last beta build prior to release, but in case you didn't see it: Thank you for the amazing encouragement, support and critical feedback you have provided throughout the development of Moonshine. I'm constantly surprised how wonderfully supportive and helpful this community is. I have learned so much from everyones sheer willingness to share their knowledge and support. Thank you for helping me learn. Thank you for making Moonshine a joy to develop. Thank you for being awesome. Now that Moonshine is released I'm looking forward to implementing new features, continue working on bug fixes and ramping up development of it's Bitcoin Lightning-enabled variant, Moonshine Lightning. There's no better way to learn than to build. Onwards & Upwards! Edit: Thank you for the gold!
Bitcoin is scarce, decentralized, and global digital money that cannot be censored.
Transactions generally cannot be reversed
Less than 21 million Bitcoin will exist
Bitcoin is highly divisible to allow for micro-transactions (up to 13 decimal places in a payment channel)
Bitcoin is an open, collaborative project that no company or government controls belonging to the people
Bitcoin is more than just money, but a secure timestamping ledger, payment rail, and smart contract platform
Do not respond to strangers messaging you with investment advice or offers and read how to avoid being scammed from the posts below.
Do not invest in Bitcoin until you do basic research, paid off all high interest debt, and have a emergency savings account of a stable fiat currency.
If investing do not expect to get rich quickly. You should expect to wait at least 1-2 years before taking profits. Bitcoin is currently very volatile. In the interim spend and replace Bitcoin because its a useful currency.
Beginners should avoid all mining and day trading until at least very familiar with Bitcoin. Mining is very professional(You cannot efficiently mine with your computer and need to buy special ASIC machines) and most people lose money day trading.
Never store your Bitcoins on an exchange or web wallet. Buy your bitcoins and withdraw it to your personal wallet where you actually own them instead of IOUs. Services like Robinhood and Revoult should be avoided because you cannot withdraw or use Bitcoin.
Make sure you make a backup of your wallet(software holding keys to your BTC) and preferably keep it offline and physical and private. Typically 12 to 24 words you write down on paper or metal. This onetime backup will restore all your keys, addresses , and Bitcoins on a new wallet if you lose your old wallet.
Beginners should avoid altcoins, tokens, and ICOs at least initially until they learn about Bitcoin. Most of these are scams and you should be familiar with the basics first. Bitcoin is referred to as BTC or XBT.
Note: Exchanges all have unique market prices and spreads so fees alone will not tell you the best rates. Best way is to directly compare the rates between exchanges. Buy fees above are for normal trading volumes. Verification and hold times can vary based upon lack of history, verification level or credit. More exchanges per location For a secure Decentralized Exchange (DEX) use https://bisq.network
Recovering 1 BTC from BITCOIN.COM iOS Wallet after latest update!
Hello everyone, I'm currently helping a friend recover 1 BTC from his iOS phone. I've tried several things but have until now not been able to recover the funds. He never backed up the app. Importing the 'current' bitcoin core seed into electrum using popular derivation paths like m/44'/0'/0' does not work. This is the public address: https://www.blockchain.com/btc/address/16pzMmk2WnEM85M7Hi5BucGSvsyqV1DmaM This balance was available until he updated the app. I suspect/hope that the phone still has a copy of what Bitcoin.com refers to in much of their support language as a "Legacy Wallet'. One procedure they recommend is to tap the bitcoin.com logo on the About page 7 times to recover the legacy wallet. I can see a message "no legacy wallet found" when I try this on my Android. But he does not see any change or message when doing this one his iPhone. Any suggestions? Does anyone know where on the phone this legacy wallet might be stored? Thanks in advance...
BuilderException when running Electrum in Kivy mode from source on desktop
There is a themeing makefile that I missed in the FAQ which is the cause of the issue. Electrum is a fairly major Android open-source bitcoin wallet written in Kivy. In theory, the same source should render on desktop as well, but I can't seem to get it to work. I'm getting the following error: ``` kivy.lang.builder.BuilderException: Parser: File "/src/electrum.git/electrum/gui/kivy/main.kv", line 214: ... 212: rgba: 0.192, .498, 0.745, 1 213: BorderImage:
214: source: 'atlas://electrum/gui/kivy/theming/light/card_bottom' 215: size: self.size 216: pos: self.pos ... Exception: Unable to found None atlas ```
You are formally invited to make a millionaire, this fabulous October. Please comment, enter at your liege. [Drawing Thread #35]
Edit: Thanks for the gold, kind stranger. I actually didn't notice because my inbox self-imploded with over 10,000 messages. Also, reports go to the mod team. If you really, REALLY, have an issue with this subreddit, please message the admins. I also added a bullet point on downloading the IDs of comments.
Holidays are coming, the first of which is Halloween. As a side note, don't enter a stranger's home.I'mnotyourmom,though.
TL;DR: Leave a comment on this thread. A random user will be chosen, and everyone donates a dollar to make a millionaire. You are welcome to spread this thread via upvoting, telling friends and family, and sharing on social media! Reminder to enter the next drawing by RemindMeBot. What is this, anyway? Three years ago, a Redditor posted an idea in /Showerthoughts that speculated the fact, if a million people picked a certain Redditor and all donated just $1, they would have the power to make someone a millionaire. This subreddit is an embodiment of that showerthought, and the monthly drawings are the attempts to make it happen. We need your help to keep this running, which amounts to only $1 a month to make someone's day. In the long term, that’s $120 every decade, which is a much more affordable price than other expenses. How does it work? Below, you will find an explanation on entering, rules to keep in mind, the selection, and other important things to note. How to enter:
REQUIRED: Leave only one (1) top level comment in reply to this thread! Replying to other comments will not count. It is highly recommended to comment "RemindMe! 3 days Donation for /millionairemakers", which will remind you via PM to donate.
Only ONE top level comment per person (replies and subsequent-level comments aren't included), but feel free to reply to other comments. Making duplicate top level comments may result in exclusion from entering. Go to me to ensure you don't accidentally double comment.
If, by any chance, you do double comment, delete any extra duplicates ASAP, ideally before the thread is locked in 24 hours, as any winning draws found to violate this will not be eligible to win, and will be banned from the subreddit.
Your account must be older than 30 days with some amount of activity. Throwaway accounts with very minimal activity will also not be eligible. This is to prevent multiple entries from the same person.
How will the winner be picked and how can you donate?
After 24 hours, this thread will close, and the method of selection will begin.
While attempts to make the selection method similar to 2017’s have been performed, it still varies from the original. For an example from the newest drawing, see [Draw #33]. For archival purposes, please click here for the original selection method.
Method's TL;DR: Your number is assigned by sorting the comments by old, so the first commenter will be 1, and the list of comments will be publicly released. The subreddit then waits for a randomly generated block (a string of numbers) from Bitcoin's blockchain, after a preselected date and time, and calculates the winner using a formula described in the posts mentioned above.
(DOUBLE EDIT) Comment IDs are downloaded at 2:00 UTC, three hours following the thread being locked. There will be two trial runs prior to 2:00 UTC, and one trial run thirty minutes after. If it is shown that deletion of comments are occurring between any of the trial runs, (EDIT:) or technical difficulties, the retrieval of the comments will be delayed by an hour, following the same procedures. (This has been the case. Comments have been downloaded at 4:00 UTC, with three trial runs.)
To determine if you are on the list, please go to your comment and save it. The comment ID is what gets recorded and selected, which looks like this: e3yxpj4.
The user who created the winning comment will be informed of their luck and will provide any information necessary for their chosen payment methods (mods will help set this up if needed).
The generous Reddit community donates to this lucky person, hopefully making some worthy soul a millionaire! A donation table will be stickied to the winner’s post, giving users the freedom in how they donate.
The lucky Redditor follows up with a thank you within the next days, revealing to the community exactly how much was raised and thanking their generosity.
Take the time you have available now to setup your PayPal, Square Cash, and Google Wallet account, and/or cryptocurrency wallets. (Note: Some services may not be available depending on where you reside.)
To buy any cryptocurrencies, you may use Coinbase for purchases using your bank account.
To store cryptocurrencies, there are many accessible wallets, and if you win, you will be guided on which ones to download. For Bitcoin and Bitcoin Cash, it’s recommended to use the Bitcoin.com wallet for iOS and Android, or the Electrum and Electron Cash wallet for Mac, Linux, and PC.
Please try your best to donate a $1, no matter who wins. Every single dollar, cent, anything really counts, so please take the effort to remember and go through with it.
If you want to be reminded to donate, please comment "RemindMe! 3 days Donation for /millionairemakers".
Spread the word! The more people who participate, the better this gets for everyone! There has been a correlation between this subreddit making it in /all and an increase in donations.
Try to cross-post to relevant subs, and upvote. There is a correlation between reaching /all and the amount of donations for the winner. (Please don't spam other subs though. We're not trying to make any enemies here.)
If you are under 18, please talk to your parents to get their consent to participate and use their help to setup a PayPal account.
MOST IMPORTANTLY Remember, this is about generosity, making history, and coming together to make someone's life better. It takes three minutes to donate a bit to the winner, whether you're well off and want to donate a couple buckeroos, or going through tough times and can only donate a few pennies. Every cent counts. Note about legality: This is NOT a lottery. You don't have to pay to enter. No prizes are given away directly by the moderators of this subreddit (the moderators will never even touch your donations; this is done voluntarily). As for gift taxes, according to the IRS they're generally paid by the donor, and any donation under $14,000 is not taxable. If a lone $1 can get you a candy bar, imagine the possibilities with $1,000,000. You can go enjoy yourself by traveling to theme parks, setting up an elaborate prank, or get a budget to make that fabulous film! One million dollars can be enough to change someone’s life. Spread the word: have your friends and family comment, post the link to your friendly-neighborhood social media network, and share it to anyone interested. LET'S RAKE MAKE A MILLIONAIRE! Apparently, I'm now obligated to make haikus. Do you think people will notice if they disappear without warning? The horrors that speak, Are nothing compared to weak, Tricks andtreatsofmeek.
REQUIRED: Leave one (1) top level comment in reply to this thread! Replying to other comments will not count. We highly recommend commenting "RemindMe! 2 days Donation for /millionairemakers", this will remind you via PM to donate. You can also follow this link and click send to be reminded to donate.
Only ONE top level (not a reply) comment per person, but feel free to reply to other comments. Making duplicate top level comments may result in exclusion from entering. Go to me to ensure you don't accidentally double comment. Delete any extra duplicates ASAP.
Your account must be older than 30 days with some amount of activity. Obvious throwaway accounts with very minimal activity will also not be eligible. This is to prevent multiple entries from the same person.
How will the winner be picked and how can you donate?
After 24 hours this thread will close and the method of selection will begin.
Method TL;DR: we assign number by sorting the comments by old, so the first commenter will be 1. We then wait for a randomly generated block (a string of numbers) from Bitcoin's blockchain, and calculate the winner using the formula described in the post mentioned above.
The user who created the winning comment will be informed of their luck and will provide any information necessary for the chosen payment method (mods will help set this up if needed).
The generous Reddit community donates to this lucky person, hopefully making some worthy soul a millionaire!
The lucky redditor posts a thank you within the next days, revealing to the community exactly how much was raised and thanking the community for their generosity.
Take the time you have available now to setup your PayPal account and/or cryptocurrency wallets. To buy bitcoin, you may use Coinbase for purchases using your bank account. To store bitcoin, we recommend the Mycelium wallet for iOS and Android or the Electrum wallet for Android, Mac, Linux, and PC.
Please try your best to donate a $1, no matter who wins. Every single dollar, cent, anything really counts, so please take the effort to remember and go through with it.
If you want to be reminded to donate, please comment "RemindMe! 2 days Donation for /millionairemakers" or check out our IFTTT recipes.
Spread the word! The more people who participate, the better this gets for everyone! There has been a cool correlation between where we made it it in /all and donations.
Try to cross-post this post to relevant subs. (Please don't spam other subs though. We're not trying to make any enemies here)
If you are under 18, please talk to your parents to get their consent to participate and use their help to setup a PayPal account.
At this point, Reddit, it's all up to you. Make us proud. Change the world. Prove the internet can do good. MOST IMPORTANTLY Remember, this is about generosity, about making history, and about coming together to make someone's life better. So take 3 minutes to donate a bit to the winner, whether you're well off and want to donate a few bucks, or going through tough times and can only donate a few cents. Every cent counts. Note about legality: This is NOT a lottery. You don't have to pay to enter. Also, WE are not giving any prizes away (the moderators will never even touch your donations). As for gift taxes, according to the IRS they're generally paid by the donor, and any donation under $14,000 is not taxable. Think of what you could do with $1,000,000... You could pay off student loans, have lifesaving surgery, or even give $1 to a million people! So Reddit, thanks for sticking with us through that long post. It's finally time to change a life. Help us to the front page, so we can make history, and... LET'S MAKE A MILLIONAIRE!
How To Withdraw LBC Coin On Lbry.Tv & Exchange To Native Currency
We have already posted about the introduction of the LBRY blockchain and the concept of this decentralized content freedom platform. We have also discussed early joining earning opportunities for you and you can grab as an early user of this platform. If you don’t yet familiar with this evolving project in the blockchain world then it’s suggestive from us that read our previously posted articles on those topics which are the followup of this post to learn, In this quick instructing post. About How to withdraw or send, transfer your lbry coins if you have earned or receive through their reward program how you can convert them to your native currency and enjoy to spend them easily. Join LBRY.tv and Earn LBC Coins Nav Posted Content
📷 As you know that lbry.tv has provided you a blockchain synced wallet where you receive your earnings and you send as well as transfer your funds in terms of LBC coins using LBRY blockchain. You can backup your wallet and also can restore your wallet independently which help you to secure your funds you want to again access your wallet funds you can access the platform and log in there through your email if your wallet is already synced with lbry server then you can see and access your funds directly if syncing is off then you need to restore wallet shortly.
You can backup your wallet by just accessing your lbry.tv platform on either desktop application or through an android or IOS platform to turn to sync on or off based on your choices. The requirement of backup up your wallet on the desktop by just going to help section and scroll down then click on create backup option and then you will have saved your zip file of backup you can use it for your fund’s security and other restoration processes. 📷 If you want to use their same lbry account different platforms then you can sync option for your own convenience.
LBRY Wallets Other Than LBRY App
So it is just easy that you can store your earnings so far until you need to convert them into the local currency you can store and safe them into lbry simply app and access them simply from desktop to Android and other supportive platforms also perhaps if you want to store more separately or want an alternative to lbry apps simple wallet then the options are available you can use the following wallets other then lbry apps.
If you want further detailed information regarding these wallets that how to use them and how you can transact in them you can ask us or suggest us to post guide blog on a thing so that we can consider it on your request.
How to Withdraw Your LBC LBRY Credits Coins From lbry.tv?
The coins you earned on lbry.tv which are actually LBC lbry credits which is a coin and native currency value of lbry platform and blockchain to transfer value and for other use cases. The lbry.tv platform offer you complete freedom of choice and doesn’t hold your funds in their wallet or servers the coins credits you can transfer directly and instantly to the wallet and you can transfer it immediately to any address of supportive LBC exchange or any other LBC blockchain wallet address. So, therefore, there is no option of withdrawing because there is no minimum or selective day of withdrawing requirement compare to other centralized platforms. So furthermore now we need to consider how we can spend these earned coins because we cannot directly pay them to anyone and can exchange it with services and goods of value that’s why we need to exchange LBC to USD or your own region native fiat currency.
How to Exchange/Convert LBC to USD or Fiat Currency?
The standard process of exchanging any currency to your native currency in the cryptocurrency market is to exchange any crypto to USD through supportive legitimate reputable well-known volume holding Cryptocurrencies either they are centralized or decentralize DEXs.
Current LBC Reputable Markets
We recommend You consider Bittrex in first Priority and if you are in a region where Bittrex unsupported their services or ban by country jurisdiction then you can consider CoinEx Exchange to exchange into USDT and Then You can Convert them into a local currency where via crypto to local fiat channels. In this article, we are also looking forward to the way to exchange LBC to USD or any other crypto through CoinEX exchange so let’s read below continue. Current Value Of LBC Against USD LBRY Credits (LBC) 0.023857 USD (-6.49%)📷RANK 390MARKET CAP $10.40 M USD VOLUME $704.74 K USDPowered by CoinMarketCap You have two pairs of support on CoinEx exchange with LBC/BTC and LBC/USDT you can further convert it into Ethereum or any other crypto which you feel comfortable getting into fiat easily where local exchangers support is available.
Follow The Following Steps To Exchange Your LBC to USD or BTC at CoinEx
After Successfully Logging in to your CoinEx Account.
Goto Upper right NAV bar to Assets Option Click and Open it.
Find the LBC Under in the Spot Account Search Box LBC Asset wallet Will Appear Shortly.
Click on the Deposit Option and Copy the LBC Receiving Address.
Then Goto to Your LBRY.tv Account LBC Balance click on it and Click Send Option On the Page.
Past the Address thoroughly and enter the desired balance then click send.
After 20 Network Confirmations, you will receive your coins in the CoinEx Account.
You can Exchange it to USDT or BTC By just Clicking on Markets Option from Nav Bar.
You will be redirected to trading markets available instruments on the exchange.
You can Select now BTC Pairs or USD Markets Depending on Your Choices.
You can either search LBC or find it manually by scrolling your self.
Let’s say you want to exchange LBC/USDT By selecting the USD Markets.
The LBC/USDT trading panel will appear to select the amount you want to exchange or sell.
Enter Amount of balance you want to exchange and Hit Sell Option Currently Min 50 LBC/USD is Allowed.
Now you can withdraw Your USDT or Convert it accordingly to any other crypto to get converting convenience. You can Convert your BTC, ETH, and Other Top coins to PERFECT MONEY SKRILL NETELLER and other fiat channels in Asia and Other regions or get Fiat Withdraw To Your local wallets through following local trusted exchangers.
Many other sites are available but above three are recommended and also done used by personal experiences are much positive regarding (LOCAL BITCOINS, BESTCHANGE) So you can free to use these mediums fees are higher than usual and minimum criteria are also very much tightened because crypto to fiat and fiat to crypto is difficult so far due to Govt. Regulations and centralize control other than that the real-world problem-solving idea come and solve this fees consuming and time hurdle problem solve by some great developers and GOVT could flexible the control on MONEY which so far seems like Very difficult what you think to tell us BELOW. If you have Skrill or Neteller Verified Account or Want to Create Your account then you can convert BTC, BCH, and Ethereum Directly Through BitPay support inside Skrill and cash out to your native wallet. If you have any questions regarding LBRY.tv LBC coin or regarding any the blockchain of lbry or having any issue regarding the exchanging platform channel transfer issue or want the easy way of exchanging LBC to your native fiat currency easily then you can comment below we can assist you as much we can We highly appreciate your time to spend on curexmy.com hope this will valuable for you.
Android, Apps, Cryptocurrency, How to Apr 11, 2019 Apr 11, 2019. How To Use Electrum Cryptocurrency Wallet App. by Joel M Johnson. Electrum is perhaps one of the most oldest players in the Bitcoin wallet market. This wallet was created in the year November 2011 by Thomas Voegtlin, and ever since then the application has been modified by various developers (the code is open source). In this ... To receive bitcoin all you need to do is share one of the addresses in your wallet with the person who wants to pay you. With the receive tab Electrum tries to create a workflow for receiving bitcoin that incorporates adding a label to your address, an expected amount and saving all this in the wallet as a receive request. Bitcoin Wallet Bitcoin Wallet ist einfach zu verwenden und zuverlässig, gleichzeitig aber sicher und schnell. Der Fokus ist auf Dezentralisierung und Zero Trust gerichtet: Kein zentraler Dienst wird für Bitcoin-bezogene Aktionen benötigt. Die App ist eine gute Wahl für technisch nicht versierte Personen. I would LOVE to use the Electrum BitCoin wallet on my phone. The app does exactly what I'd want from a bitcoin app. Without a doubt this is the BEST BTC wallet you can get. It's wonderful to have electrum for Android. It's very secure but i'm not annoyed with constant security hurdles. Great work as far as I'm concerned. Keep up the good work. This is really the best wallet for both desktop ... Electrum Bitcoin Wallet. Impressum This website is hosted by Electrum Technologies GmbH Electrum Technologies was founded by Thomas Voegtlin in 2013. Its mission is to develop, package and distribute Electrum software, and to provide services to Bitcoin users and businesses.
The Crypto Dad shows you how to back up the Electrum Bitcoin wallet. I go through making sure your password is stored in a safe place. Then I talk about prin... One alternative to the Ledger Wallet Bitcoin is the Electrum Bitcoin Wallet. You can use this to view your wallet info, send BTC, receive BTC and store conta... The Electrum Bitcoin Wallet is one of the most popular Bitcoin wallets for desktops. It has several advanced features that make it robust and flexible. It supports Two Factor Authentication, Multi ... #ElectrumWallet Wie leicht es ist eine Handy Wallet zu installieren zeige ich dir in diesem Video. Eine der besten Brieftaschen für Bitcoin ist für mich Electrum, für den PC aber auch für das ... This video demonstrates how to get Bitcoin Gold out of Electrum, using an Android app called Coinomi as an extra tool. Bitcoin Gold is a little-known fork of bitcoin that was created on November ...