Friday, March 10, 2023

UK | EU | PC | CHERNARUS | RP | ENGLAND RP PVE NO RAIDS OR KOS PVP ZONES

_INVITE YOUR FRIENDS _

ENGLAND |RP |PVE |NO BASE RAID |NO KOS

Hello survivor are you looking for a new place to call home? Well we have the perfect brand new server for you with a friendly community.

PLAYER START CASH: 50K

IP: 51.89.239.17:2518

MAP: Chernarusplus

PLAYER SLOT : 0/50

VERSION: 1.20

MODS

➼Unlimited stamina ➼80+ Import land vehicles ➼Garage ➼Much stuff pack ➼Cs_mvs_clothing ➼Cf ➼Much car keys ➼Pve/Pvp zones ➼Server panel ➼Teddy weapons ➼Flip vehicles ➼Build anywhere ➼Drugs plus ➼Cannabis plus ➼More drugs and effects ➼Role play clothes ➼More doors + EMD ➼Cabins ➼More flags ➼No vehicle damages ➼Code lock ➼SchanaParty ➼Advance banking ➼Traders
➼Dayz dog ➼Player tombstone ➼Better drinks ➼Collectables - 107 pokemon cards, bitcoin, jewellery and lots more!. ➼Ear Plugs. ➼Auto run. ➼Upgraded air drops. ➼Extra fish & bugs ➼Base building plus ➼Animal farming ➼Key card rooms ➼Judgment bears And much more!

➼Active staff ➼Friendly community ➼Events /giveaways ➼Role playing ➼Police / medics wanted ➼Businesses ➼Clans/gangs And much more!

Dayz launcher: Find our server https://dayzsalauncher.com/#/home

EnglandRP social reddit: share your experience https://www.reddit.com/r/EnglandDayzServer?utm_medium=android_app&utm_source=share

We all really hope to see you in discord and in game soon.

https://discord.gg/XphY5THW3a


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Correlation is 1 during a liquidity event, but... (x-post from /r/Bitcoin)

https://www.reddit.com/r/Bitcoin/comments/11o1a66/correlation_is_1_during_a_liquidity_event_but/
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The FTX Contagion Rages On: The Fall of Silicon Valley Bank and its Implications

Liquidity crisis in TradFi is set to roil crypto markets
@BigBlackCrypto

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On March 10, 2023, Silicon Valley Bank collapsed in just two days, marking the biggest bank failure since the 2008 financial crisis. Before its collapse, the CEO sold $3.57 million of stock within the last two weeks. The California Department of Financial Protection and Innovation closed the bank, and the FDIC was appointed as the receiver. Silicon Valley Bank was the 16th largest U.S. bank, with $210 billion in assets.

The timeline of Silicon Valley Bank’s collapse is as follows:

  1. SVB began to face a run on the bank as $91 billion in bonds faced interest rate risk.
  2. A firesale of $21 billion bond portfolio was announced.
  3. Over $1.8 billion was lost during the firesale.
  4. SVB announced a $2.3 billion share sale to cover bond losses.
  5. Credit agencies cut SVB’s credit ratings.
  6. SVB failed to raise capital as investors panicked.
  7. The U.S. banking sector lost nearly $100 billion in market cap in 24 hours.
  8. SVB announced its intention to sell the company.
  9. Regulators and FDIC took control of SVB.
  10. The second largest bank collapse in US history seemingly happened overnight.

The fallout from Silicon Valley Bank’s collapse is severe. Currently, 93% of all deposits at SVB are above the $250,000 FDIC insurance limit, and only 2.7% of Silicon Valley Bank deposits are less than $250,000. Meaning, 97.3% aren’t FDIC insured. Circle’s USDC, the second largest stablecoin with $43 billion market capitalization, has an undisclosed part of its $9.8 billion cash reserves at the now-collapsed Silicon Valley Bank.

Furthermore, if Silicon Valley Bank fails, this could be the Lehman moment for the startup world. The bank plays a crucial role in billions of dollars in venture debt, untold amounts of warrants, and convertible notes in early-stage firms. Therefore, if the bank’s collapse triggers a chain reaction, the startup world will feel its effects.

The impact of Silicon Valley Bank’s collapse is not limited to the bank’s depositors and clients. Share prices of other regional banks, such as First Republic Bank, Western Alliance Bancorp, PacWest Bancorp, and Signature Bank, have plummeted. For instance, First Republic Bank’s share prices dropped by 23%. It’s 2008 all over again… but so so much worse.

This recent event also raises concerns about the FDIC’s handling of the crisis. Venture lenders, such as SVB, are reliant on venture capitalists not aggressively pursuing amortization of debt or triggering default for covenant foot faults (e.g., cash balances). Therefore, the FDIC’s handling of the situation is essential to prevent mass defaults.

Silicon Valley Bank also offered wealth management services to many of its founders. Therefore, corporate lenders, corporate banks, personal mortgage lenders, and family’s wealth managers are all one bank, which is now in FDIC receivership. The fallout from Silicon Valley Bank’s collapse is far-reaching.

Finally, this collapse is also affecting companies that don’t bank with SVB because their payroll providers use the bank to make payroll deposits. Payroll is currently being missed, and founders are being locked out of their bank accounts for unknown reasons.

The collapse of Silicon Valley Bank is a significant event that has far-reaching implications. The FDIC’s handling of the crisis will be critical in preventing a chain reaction that could affect the startup world. Furthermore, the fallout from the collapse is not limited to the bank’s depositors and clients, but it affects the broader banking sector and the economy as a whole. The potential ripple effects of this collapse are yet to be fully understood, but it is clear that the impact will be felt across various industries and markets. The collapse of a bank as large and influential as Silicon Valley Bank is a stark reminder of the fragility of our financial system, and the need for robust regulatory oversight. It is a wake-up call for policymakers to reassess the risks posed by the concentration of banking power in a few large institutions, and to take steps to mitigate those risks. The collapse of Silicon Valley Bank serves as a cautionary tale for the entire financial industry, emphasizing the importance of risk management, capital adequacy, and transparency.

It affects other regional banks and their share prices, as well as companies that rely on SVB for payroll deposits. The fact that 97.3% of SVB’s deposits are not FDIC insured is also a cause for concern, as it raises questions about the overall stability of the banking system and the adequacy of deposit insurance. Moreover, the collapse of SVB could lead to a broader loss of confidence in the banking sector and the financial system, potentially triggering a wider economic downturn.

The fall of SVB also highlights the risks associated with high levels of debt and leverage in the financial system, particularly in the context of low interest rates and a prolonged periods of easy monetary policy. It underscores the need for effective regulation and oversight to prevent excessive risk-taking and ensure the stability of the financial system.

The collapse of Silicon Valley Bank is a stark reminder of the fragility of the financial system and the potential for systemic risks to emerge. It serves as a cautionary tale for regulators, investors, and financial institutions alike, highlighting the importance of risk management, transparency, and effective oversight in ensuring the stability and resilience of the financial system.

ADDENUM — How Bad is The Oulook?!

According to recent statistics, a potential bank run of Silicon Valley Bank (SVB), Silvergate, and Signature Bank could result in a liquidity crisis in the cryptocurrency market, leading to a crypto winter.

Silicon Valley Bank: $210 BN (93% uninsured)
Silvergate: $10.5 BN (approx.)
Signature: $114 BN
Eth Unlock: $26 BN
Total: 350,500,000,000

SVB and Silvergate serve as primary banks for the cryptocurrency industry in the United States, providing banking services to some of the largest cryptocurrency exchanges and companies. Their bank runs can result in a significant loss of liquidity in the cryptocurrency market, leading to a decrease in trading volumes and prices.

Moreover, Signature Bank’s ongoing class action lawsuit and the subsequent withdrawal of deposits by its customers could trigger a bank run, leading to the bank’s insolvency. This situation can further cause other banks and exchanges that rely on Signature Bank for liquidity to face a liquidity crisis, leading to a ripple effect in the cryptocurrency market.

The unlocking of $26 billion worth of Ethereum tokens can also exacerbate the liquidity crisis in the cryptocurrency market, causing a significant drop in prices. Additionally, the SEC’s crackdown on exchanges and their staking services can force exchanges to liquidate their positions, leading to significant sell-offs in the market. The fines imposed by the SEC can also force cryptocurrency companies and exchanges to liquidate their assets, leading to a further decrease in prices.

Stablecoin outflows and exchanges with significant altcoin exposure in their balance sheets can also be used as indicators of the health of the cryptocurrency market during a downturn. An increase in stablecoin outflows can signify a liquidity crisis, while exchanges with significant altcoin exposure can be more vulnerable to insolvency.

In summary, the potential bank runs of SVB, Silvergate, and Signature Bank, along with the unlocking of $26 billion worth of Ethereum tokens, can trigger a liquidity crisis in the cryptocurrency market, leading to a crypto winter. Therefore, monitoring stablecoin outflows and exchanges with significant altcoin exposure can help determine the health of the market during a downturn.

​

#Bitcoin #Silvergate #SVB #SiliconValleyBank #Ethereum #cryptocrash #cryptowinter #crypto
#cryptonews #cryptocurrency #FTXcontagion #FTX #Contagion


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Cryptocurrency Trading An Overview Of Bitcoin News

Introduction

  • Do you understand the basics of Bitcoin and cryptocurrency trading?
  • Do you know where to look for reliable Bitcoin news and updates?
  • Are you aware of the potential risks associated with trading cryptocurrency? 

If you have answered “no” to any of the questions above, then this article is for you! 

Cryptocurrency trading can be lucrative but only for those who have a comprehensive understanding of the underlying technology, current news and updates, and potential risks.

In this article, we’ll provide an overview of the basics of cryptocurrency trading, explain the sources of Bitcoin news, and discuss the benefits of trading with Bitcoin, how it works, and the potential risks.

​

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Understanding Bitcoin News

Bitcoin has experienced a massive surge of interest over the last several years, as more people become familiar with its potential. This has led to a dramatic increase in the amount of news and information about Bitcoin that’s available to the public. It’s therefore important for anyone interested in trading cryptocurrency to understand what's going on in the world of Bitcoin. 
Bitcoin news can be divided into two broad categories: news about Bitcoin itself and news about other forms of cryptocurrency. When it comes to Bitcoin, it’s important to pay attention to key developments such as the latest moves by developers and changes in the price of Bitcoin. It’s also important to keep track of news related to the development of new businesses and services that are based on Bitcoin, as this can have an effect on the overall value of the currency.
When it comes to other forms of cryptocurrency, it’s important to keep track of news related to specific currency projects. This includes news about the project’s development, any major regulatory changes, and any changes in the value of those currencies relative to other cryptocurrencies. Keeping a close eye on the news helps traders make more informed decisions about which currencies to invest in.
Finally, it’s important to keep track of global news and macroeconomic trends that could have an impact on the value of Bitcoin and other cryptocurrencies. This includes news related to central banks, government policies, and international events. By understanding how global developments could affect the value of cryptocurrency, traders can better position themselves to take advantage of any opportunities that may arise. 
In conclusion, understanding Bitcoin news is an important part of trading cryptocurrency. By staying up to date on the latest developments, traders can make more informed decisions and capitalize on any potential opportunities.

What is Bitcoin

Bitcoin (BTC) is a digital currency that is based on a distributed network of computers called “miners” who use a consensus process to verify transactions and secure the network. Bitcoin was created in 2009 and is the world’s first decentralized cryptocurrency. It is a peer-to-peer system that allows users to send and receive payments without the need for intermediaries or a centralized authority. Bitcoin transactions are secured by public-key cryptography and stored on the blockchain, a distributed public ledger.

Bitcoin has become the world’s most well-known and valuable digital currency, and its price has seen tremendous growth in recent years. Bitcoin has been the subject of much media attention, both positive and negative. As a result, investors and traders need to stay up to date on Bitcoin news to make informed decisions about their investments. 

Bitcoin news can be found in several different places, from news sites to social media platforms. Many cryptocurrency exchanges, such as Binance and Kraken, often include Bitcoin news in their newsletters. Additionally, there are a variety of websites and blogs dedicated to providing Bitcoin news and analysis. Bitcoin news can also be found in other digital currency forums and discussion boards. 

Overall, Bitcoin news provides investors and traders with insight into the latest developments in the world of digital currencies. By staying up to date on Bitcoin news and trends, investors and traders can make informed decisions about their investments and benefit from the price movements of Bitcoin.

Bitcoin News Sources

In the world of cryptocurrency, staying up-to-date on the latest news is essential for success. It is important to keep up-to-date on current events, as well as the latest trends, developments, and technology within the industry. When it comes to trading digital currencies, having access to reliable Bitcoin news sources is key to staying informed and making the most of your cryptocurrency investments. 

The most comprehensive source of Bitcoin news is through the websites dedicated to cryptocurrency. These websites provide comprehensive coverage of the most recent events and developments in the world of Bitcoin, as well as in-depth guides and analysis. There are numerous websites and blogs dedicated to Bitcoin and cryptocurrency news, many of which are written by experts in the field. Examples of such popular websites include Coindesk and CryptoMinded. 

In addition to websites dedicated to cryptocurrency news, several social media platforms regularly post updates and news related to Bitcoin and other cryptocurrencies. Examples of popular social media platforms include Twitter, Reddit, and even Facebook. These platforms allow users to discuss and debate different news topics related to Bitcoin and other cryptocurrencies. 

Furthermore, it is also possible to receive Bitcoin news directly from cryptocurrency exchanges such as Coinbase, Binance, and Kraken. These exchanges typically post updates on the status of their platforms, including any recent changes or developments. Additionally, these exchanges often provide a forum for users to discuss and debate different news topics related to Bitcoin and other cryptocurrencies.

Finally, there are a variety of news outlets that regularly report on Bitcoin and other cryptocurrencies. A few of the top news outlets include the Wall Street Journal, CNBC, and Bloomberg. These news outlets typically report on the latest developments and trends in the cryptocurrency industry, as well as any potential risks associated with investing in digital currencies. 

In conclusion, staying up-to-date on the latest news related to Bitcoin and other cryptocurrencies is essential for success in the world of cryptocurrency. There are a variety of reliable sources for Bitcoin news, including websites dedicated to cryptocurrency, social media platforms, cryptocurrency exchanges, and news outlets.

Benefits of Trading with Bitcoin

The emergence of Bitcoin and other cryptocurrencies has created an alluring opportunity for traders and investors who are looking to capitalize on the volatility of digital assets. Bitcoin and other digital currencies provide a range of benefits for traders – from the ability to trade in global markets with ease to the potential to realize large returns in short periods. 

Lower Transaction Costs: 

One of the biggest benefits of trading with Bitcoin is the low cost of transactions. Traditional currencies come with a hefty fee when making international payments, but Bitcoin and other cryptocurrencies have significantly lower transaction and processing fees which make it easier to move funds across borders quickly and cost-effectively. 

Increased Liquidity:

Another benefit of trading with Bitcoin is the increased liquidity that it offers as compared to other currencies. The decentralized structure of Bitcoin and other cryptocurrencies means that global markets can be accessed quickly and liquidity levels are significantly higher than with traditional currencies. This makes it easier for traders to take advantage of market opportunities as they arise. 

Diversification: 

Bitcoin and other digital currencies offer a great way for traders to diversify their portfolios and reduce overall risk. By trading with multiple digital currencies, traders can spread out their risk and potentially benefit from the performance of multiple cryptos. This allows traders to capitalize on volatility while reducing their overall exposure to the individual cryptocurrencies they are trading. 

24/7 Access: 

Another great benefit of trading with Bitcoin is the 24/7 access that it offers to global markets. With traditional currencies, traders are restricted by the hours of their local market and can miss out on trading opportunities as a result. However, Bitcoin and other cryptocurrencies allow traders to take advantage of global opportunities as they arise, no matter when they occur. 

Increased Security:

The decentralized nature of cryptocurrency trading also offers increased security for traders, as funds are not held on a single, centralized platform. This means that traders’ funds are more secure than with traditional currencies, as they are not stored in a single location. Additionally, Bitcoin and other digital currencies are protected by strong encryption, making them even more secure than traditional currencies.

📷

How Does Bitcoin Trading Work

Trading Bitcoin involves a few steps one needs to take to stay informed and make profitable decisions when it comes to acquiring and selling cryptocurrency. Bitcoin trading involves predicting how the price of Bitcoin will fluctuate over a certain period and then making decisions based on that forecast. To begin trading, one needs to first get informed on the current Bitcoin news related to the market. 

It is advised to choose a reliable source to get informed on the most up-to-date news and it is important to consult multiple sources to get an understanding of the market. By reading news related to Bitcoin, one will be able to predict how the price of Bitcoin will react to certain events. Additionally, understanding how the cryptocurrency market works is important to comprehend the impact of Bitcoin news. This can be done by reading more general news related to the cryptocurrency industry such as the latest additions to cryptocurrency exchanges, regulations, and more.

After understanding the current state of the market and the news related to it, the next step is to use a trading platform to buy and sell Bitcoin. The most common type of trading involves purchasing Bitcoin at a low price and then selling it back once the price has gone up. This is a good strategy to make a profit if one knows when to buy and when to sell. Additionally, some more experienced traders can make use of leverage to increase their profits by trading on margin. 

Finally, it is essential to stay informed on the latest Bitcoin news. By doing so, one will be able to make more informed decisions when it comes to trading and ultimately make a better profit.

Tips for Researching Bitcoin News

In the ever-evolving cryptocurrency world, having access to accurate and up-to-date information is essential to successful trading. Knowing how to research Bitcoin news is therefore an integral part of the trading process. Here are five tips to help you stay informed when it comes to the latest cryptocurrency news and events: 

Firstly, signing up for news distribution services such as Crypto Radar can be a great way to stay abreast of the latest news. These companies provide cryptocurrency news, as well as analysis and research, to help you make better investment decisions.

Secondly, regularly checking news websites such as CoinDesk and Cointelegraph is key to understanding emerging trends and developments in the sector. 

Thirdly, following influential personalities on Twitter can be beneficial. For example, people such as Changpeng Zhao, the CEO of Binance, or Andreas Antonopoulos, a Bitcoin evangelist, can provide insights into the latest industry news and developments.

Fourthly, attending industry events or conferences is a great way to network and get a better understanding of the industry. 

Finally, forums such as Reddit and Bitcointalk.org are excellent resources for trading information and tips. By reading the comments of other users, it is possible to gain a better understanding of the cryptocurrency landscape. 

By following these tips, you can stay ahead of the curve and make the most of your time in the trading arena. Researching Bitcoin news is a key skill in cryptocurrency trading and by using the methods outlined above, you can ensure that you are always up-to-date with the latest developments.

When to Buy and Sell Bitcoin

Knowing when to buy and sell bitcoin is an important skill for any cryptocurrency trader to have. The cryptocurrency market is notoriously volatile, which means it is easy to make money if you know when to buy or sell. However, it is also easy to lose money if you don’t have an experienced eye. 

To decide when to buy and sell, traders must have up-to-date knowledge of the market by keeping an eye on Bitcoin news. This news can provide insight into how the market is performing, who is trading, and what the current trends are. By understanding the market, traders can make informed decisions on when to buy and sell cryptocurrency. 

Generally, traders look out for a range of indicators when deciding when to buy and sell bitcoin. They might look at the current news on Bitcoin and the wider cryptocurrency market, changes in the price of bitcoin, and patterns in trading activity. 

Technical indicators, such as charting and trading volume, will also be useful for traders who are looking for a more in-depth analysis. By looking at these indicators, traders can get an idea of how the market is performing, and how Bitcoin and other cryptocurrencies are trading. 

Traders should also be aware of the risks associated with cryptocurrency trading. Although the market can provide opportunities to make money, it can also lead to losses, particularly if trades are made without sufficient research or analysis. 

Finally, traders should remember that while cryptocurrency markets can offer good opportunities, they should always exercise caution and ensure they have a reasonable understanding of the market before they invest. Keeping up to date with Bitcoin news and trends is the best way to make informed decisions on when to buy and sell.

📷

Potential Risks of Cryptocurrency Trading

Cryptocurrency trading is gaining in popularity across the world, but there are certain potential risks associated with it. While cryptocurrency can offer great returns, investors need to understand the risks associated with trading digital assets. 

Volatility: 

The Bitcoin market is highly volatile, with prices fluctuating significantly daily due to a range of factors such as geopolitical developments, technical analysis, and trading signals. As a result, cryptocurrency investors face the risk of seeing the value of their investments plummet suddenly.

Security: 

Security is another potential risk that investors must be aware of when trading cryptocurrencies. As with regular money, cryptocurrencies can be stolen if a user’s wallet is compromised or if a breach occurs in an exchange or broker.

Liquidity: 

Another risk of cryptocurrency trading is liquidity. While there are some exchanges and brokers that offer high levels of liquidity, other traders may have difficulty finding buyers or sellers to complete their trades. This could affect the price of the asset, which in turn could lead to losses for the investor.

Regulation:

Regulatory risk is another risk that investors should be aware of when trading cryptocurrencies, as the space is still largely unregulated in many jurisdictions. This means that there is no clear legal framework governing digital currency trading, and governments could shape the future of the industry with new regulations.

Taxes:

Finally, investors should be aware that digital currencies may be subject to capital gains taxes in some countries. While these taxes may vary from one jurisdiction to another, investors should make sure to understand how their local tax laws apply to cryptocurrency trading. 

To ensure a successful cryptocurrency trading experience, investors should always do their research and be aware of the potential risks associated with trading digital assets. By keeping up to date with the latest bitcoin news, traders can make informed decisions and minimize their risks.

Final Considerations


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Bitcoin Newcomers FAQ - Please read!

Welcome to the /r/Bitcoin Sticky FAQ

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 Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following articles/books/videos as a good starting point for understanding how Bitcoin works and a little about its long term potential:

Some other great resources include Michael Saylor's Hope.com and "Bitcoin for Everybody"' course, Jameson Lopp's resource page, Gigi's resource page, and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.

If you are technically or academically inclined check out developer resources and peer-reviewed research papers, course lectures from both MIT and Princeton as well as future protocol improvements and scaling resources. Some Bitcoin statistics can be found here, here, here and here. MicroStrategy's Bitcoin for Corporations is an excellent open source series on corporate legal and financial Bitcoin integration.

You can also see the number of times Bitcoin was declared dead by the media (LOL) and what you could have earned if you didn't listen to them! XD

Key properties of Bitcoin

  • Limited Supply - There will only ever be a maximum of 21,000,000 bitcoins created and they are issued in a predictable fashion per the inflation schedule. Once they are all issued Bitcoin will be truly deflationary. The halving countdown tells you approximately how much time until the next block reward halving.
  • Open source - Bitcoin code is fully auditable. You can read and contribute to the source code yourself.
  • 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 bitcoin resides has the authority to move them.
  • Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
  • Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.
  • Pseudonymous - No need to expose personal information when purchasing with cash or transacting.
  • Secure - Blocks and transactions are cryptographically secured (using hashes and signatures) and can’t be brute forced or confiscated with proper key management such as hardware wallets.
  • Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being met
  • Divisible - Each bitcoin can be divided down to 8 decimals, which means you don't have to worry about buying an entire bitcoin.
  • Nearly instant - From a few seconds on the Lightning Network to a few minutes on-chain depending on need for confirmations. Transactions are irreversible by normal users after one confirmation and irreversible by anyone (including miners) after 6 confirmations.
  • Peer-to-peer - No intermediaries taking a cut, no need for trusted third parties.
  • Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiat
  • Low fee scaling - Most wallets calculate on chain fees automatically but you can view fee estimates and mempool activity if you want to set your fee manually. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, an open source second layer payment protocol built on top of the Bitcoin blockchain. The Lightning Network enables Bitcoin users to instantly send and receive bitcoin with fees so low that they are negligible.
  • Portable - Bitcoin are digital so they are easier to move than cash or gold. They can be transported by simply carrying a seed (a string of 12 to 24 words) on a device or by memorizing it for wallet recovery (while cool, memorizing is generally not recommended due to potential for forgetting the seed and the potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for most users for their ease of use and additional security).
  • Scalable - While the protocol is still being optimized for increased transaction capacity, blockchains do not scale very well, so most transaction volume is expected to occur on Layer 2 networks built on top of Bitcoin.

Where can I buy bitcoin?

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 places to buy bitcoin are listed below.

You can also purchase in cash with local ATMs. Services such as CardCoins let you purchase bitcoin with prepaid gift cards. If you would like your paycheck automatically converted to bitcoin use Bitwage.

Note: Bitcoin 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.

Securing your bitcoin

With Bitcoin you can "Be your own bank" and personally secure your bitcoin OR you can use third party companies aka "Bitcoin banks" which will hold your bitcoin 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.

  • If you cannot afford a hardware wallet there are many software wallet options to choose from depending on your use case. Mobile wallets like BlueWallet are generally more secure than desktop wallets. Beware of fake mobile wallets and check reviews from reputable Bitcoin websites. Avoid paper wallets or brain wallets.

  • If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini or Unchained Capital 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. There is a saying in the community, "Not your keys, not your coins". This means that if you don't store your coins in a wallet that you control the keys to, then you do not really own your bitcoin as you have to ask permission from the third party in order to move them.

Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!

2FA requires a second confirmation code or a physical security key 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.

Avoid using your cell number for 2FA. Hackers have been using a technique called "SIM swapping" to impersonate users and steal bitcoin off exchanges.

Google Auth Authy OTP Auth andOTP
Android Android N/A Android
iOS iOS iOS N/A

Physical security keys (FIDO U2F) offer stronger security than Google Auth / Authy and other TOTP-based apps, because the secret code never leaves the device and it uses bi-directional authentication so it prevents phishing. If you lose the device though, you could lose access to your account, so always use 2 or more security keys with a given account so you have backups. See Yubikey or Titan to purchase security keys.

Both Coinbase and Gemini support physical security keys.

Watch out for scams

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 r / btc subreddit are active scams. Almost all altcoins 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. As they say in our community, "Don't trust, verify".

  • Avoid using ad-based search engines like Google or Yahoo: ads are shown based on how much the advertiser bids, and scammers can easily outbid legitimate providers for ad space, since immoral ways of earning money are far more lucrative than moral ways. Use DuckDuckGo instead, which has no ads, and never tracks you as well.
  • Ignore private messages offering services.
  • Never enter your seed words in a website of any kind. Hardware wallets will recover by displaying possible seed words on their own interface, never on a website.
  • Always check addresses on your hardware wallet before sending or receiving. Some malware has been known to replace addresses in your web browser or that you copy-and-paste.
  • Avoid clicking on links like that look like links, such as https://www.google.com/, without first hovering over it and actually checking where they go to. Just because a link is labelled with an HTTPS address does not mean it actually sends you to that address. It is trivial for someone to comment a link on Reddit that looks like it will send you to one website when it actually sends you to another, and you might not notice the difference until a scammer has gotten all your money, or you have downloaded and installed software that steals your money.

Common Bitcoin Myths

Often the same concerns arise about Bitcoin from newcomers. Questions such as:

  • Will quantum computers break Bitcoin?
  • Will governments ban Bitcoin?
  • Is Bitcoin a Ponzi scheme?

All of these questions have been answered many times by a variety of people. Here are some resources where you can see if your concern has been answered:

Where can I spend bitcoin?

Check out Spendabit, Bitcoin Directory, or Coinmap for a plethora of merchant options. You can also spend bitcoin anywhere Visa is accepted with bitcoin debit cards such as the CashApp card, Fold card or other bitcoin debit cards. Some other useful site are listed below.

Store Product
Bitrefill, Gyft, and Fold App Gift cards for thousands of retailers worldwide including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock, and The Bitcoin Directory Retail shopping with millions of results
NewEgg and Dell For all your electronics needs
Bitrefill, Bylls, LivingRoomofSatoshi, Swapin, Coinsfer, Coins.ph, and more Bill payment
Menufy and Takeaway Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage

There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;

  • 1-3% savings over credit cards or PayPal.
  • No chargebacks (final settlement in 10 minutes as opposed to 3+ months).
  • Accept business from a global customer base.
  • Convert 100% of the sale to the currency of your choice for deposit to your account, or choose to keep a percentage of the sale in bitcoin if you wish to begin accumulating it.

If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoin 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 the mining FAQ. Still have mining questions? The crew at /r/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. You can view the global distribution of reachable Bitcoin nodes on this webpage.

Earning bitcoin

Just like any other form of money, you can also earn bitcoin by being paid to do a job.

Site Description
WorkingForBitcoins, Bitwage, Coinality, Bitgigs, /r/Jobs4Bitcoins, BitforTip, and Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
Purse.io, Bitify, and /r/Bitmarket Marketplaces
A-ads, Coinzilla.io Advertising

You can also earn bitcoin by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoin for a small fee (requires you to already have some bitcoin).

Bitcoin-Related Projects

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.

Project Description
Lightning Network Second layer scaling
Liquid and Rootstock Sidechains
Hivemind Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, and DropZone and Beaver Decentralized markets
JoinMarket, Samourai Whirlpool, and Wasabi CoinJoin implementation
Peer-to-Peer Exchanges Peer-to-peer exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One bitcoin is worth quite a lot (thousands of £/$/€), so people often deal in smaller units. The most common subunits are listed below:

Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in Electrum wallet
bit μBTC 1,000,000 per bitcoin colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor

For example, assuming an arbitrary exchange rate of $10,000 for one bitcoin, a $10 meal would equal:

  • 0.001 BTC
  • 1 mBTC
  • 1,000 bits
  • 100,000 sats

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 /r/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!

Please note that this thread will be moderated and non-constructive comments will be removed.


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