₦airaland Forum

rookidmart:
Ironic that he's talking about creating something out of nothing that isn't backed by gold, while governments can print money anytime they want, and the USD is no longer backed by gold for centuries now.

Centuries? Don't forget I got google:

Is U.S. currency still backed by gold? 

No, when the United States stopped selling gold to foreign official holders of dollars at the rate of $35 an ounce in 1971, it brought the gold exchange standard to an end. In 1973, the United States officially ended its adherence to the gold standard. Many other industrialized nations also switched from a system of fixed exchange rates to a system of floating rates. In August 1974, President Ford repealed the prohibition on the public's owning gold or engaging in gold transactions. Today, no country bans private ownership of gold.

rookidmart:
Ironic that he's talking about creating something out of nothing that isn't backed by gold, while governments can print money anytime they want, and the USD is no longer backed by gold for centuries now.

Well, he was head of Fed Reserve. Don't u think he should know. Currency has to be tied to something, be it foreign reserve or whatever and they generally lose slight value over the years. Bitcoin is the opposite: the value is tied to nothing (except speculative supply and demand) and has been all over the place, but has generally gone up.

JustCryptos:
Here's what you are doing. You take out time to look for all the gative news on Bitcoin and then you come to claim an expert. In the same manner look for what John McCafee, Warren Buffet, Bill Gate, Richard Branson, the US Senate, Japan, and even Venezuela and saying and doing about cryptocurrencies.

These are things I chance upon. I was listening to BBC and they quoted Greenspan. That's how I chanced on this. Expert! Don't make me laugh. I only actually googled bitcoin few days ago. I find it quite fascinating and I'll post every interesting thing I find out about it on this thread.

rookidmart:
LMFAO.
ETH can't scale without breaking many laws of computer Science.

Whatcha think of this by former chair of Fed Reserve? (Note bolded)

Greenspan compares bitcoin to Colonial America currency that eventually became worthless

Greenspan compares bitcoin, at more than $12,000 as of Wednesday, to the money issued by the Continental Congress in 1775 to finance the war effort.Even something that is ultimately worthless can create real goods and services in the near term, Greenspan says.

Liz Moyer

Published 10:32 AM ET Wed, 6 Dec 2017Updated 1:08 PM ET Wed, 6 Dec 2017

Former Federal Reserve Chairman Alan Greenspan told CNBC on Wednesday that bitcoin reminds him of currency issued during America's Colonial past that ultimately proved worthless.

Greenspan compared the high-flying cryptocurrency to 1775 Continental currency that was worthless by 1782. In the in-between years, however, the money allowed patriots like George Washington to buy armaments and other supplies.

Continental money was so-called fiat currency. Declared legal tender by the Continental Congress, it derived its value from the amount of paper notes available and the demand for them rather than by the backing of a commodity such as gold or silver.

So will bitcoin ultimately be worthless? Not necessarily. It depends on the future supply. In the case of Continentals, the amount of currency just kept rising, in part because they were easily counterfeited.

Greenspan is not surprised that cryptocurrencies are popular.

“Human beings buy all sorts of things that aren’t worth anything, but they do it anyway,” he said.
"People gamble in casinos when the odds are against them. It has never stopped anybody."

“You cannot tell me that you can create, out of nothing, something which has a medium of exchange value
without bringing into the analysis the fact that sometimes people are a little bewildered,” he said.

“That does not mean it will not trade,” he added.

WATCH: Bitcoin's origin story remains shrouded in mystery. Here's why it matters.

JustCryptos:
I encourage you to take out time and read. Instead of trying to argue, make out time and read.

Whatcha think of this by former chair of Fed Reserve? (Note bolded)

Greenspan compares bitcoin to Colonial America currency that eventually became worthless

Greenspan compares bitcoin, at more than $12,000 as of Wednesday, to the money issued by the Continental Congress in 1775 to finance the war effort.Even something that is ultimately worthless can create real goods and services in the near term, Greenspan says.

Liz Moyer

Published 10:32 AM ET Wed, 6 Dec 2017Updated 1:08 PM ET Wed, 6 Dec 2017

Former Federal Reserve Chairman Alan Greenspan told CNBC on Wednesday that bitcoin reminds him of currency issued during America's Colonial past that ultimately proved worthless.

Greenspan compared the high-flying cryptocurrency to 1775 Continental currency that was worthless by 1782. In the in-between years, however, the money allowed patriots like George Washington to buy armaments and other supplies.

Continental money was so-called fiat currency. Declared legal tender by the Continental Congress, it derived its value from the amount of paper notes available and the demand for them rather than by the backing of a commodity such as gold or silver.

So will bitcoin ultimately be worthless? Not necessarily. It depends on the future supply. In the case of Continentals, the amount of currency just kept rising, in part because they were easily counterfeited.

Greenspan is not surprised that cryptocurrencies are popular.

"Human beings buy all sorts of things that aren’t worth anything, but they do it anyway,” he said.
"People gamble in casinos when the odds are against them. It has never stopped anybody."

“You cannot tell me that you can create, out of nothing, something which has a medium of exchange value
without bringing into the analysis the fact that sometimes people are a little bewildered,” he said.

“That does not mean it will not trade,” he added.

WATCH: Bitcoin's origin story remains shrouded in mystery. Here's why it matters.

naijacutee:
The trouble with bitcoin is that no one is using it as a currency. Everyone is investing in it. This is a problem.

The trouble with bitcoin is that it makes no sense. All I keep hearing is "blockchain", "leger",
"blockchain", "ledger"!!
Nobody has been able to explain how something we all know is not real and not tied to anything of real-life value and not backed by a govt can be worth $17,000!!

List of top virtual currencies in 2017 and what differentiates them

Divya Joshi Oct. 19, 2017, 5:07 PM214,895

With more than 1,100 cryptocurrencies and a total market cap of approximately $150 billion circulating in the market today, this ‘next-gen gold’ has taken the financial world by storm.

The question of their survival, which enveloped this fintech invention in the beginning, has now been replaced by the question of the extent of its evolution and adoption. Industry skeptics raised concerns regarding the new "currency’s” power to disrupt the financial landscape as we know it and lead world economies to lose financial control to the hands of the common man.

Even when many countries and companies ‘banned’ the use of the digital currency, its rapid growth and mass adoption by technology aficionados and leading global firms (such as Microsoft, Virgin Galactic, Shopify, and Tesla) led to its strengthening in today’s fiscal society.

According to a report by PwC, cryptocurrencies have been called one of the “greatest technological breakthroughs since the Internet.” They have also been called “a black hole” into which a consumer’s money could just disappear. 
These two stark contrasting statements are the reason why cryptocurrencies have inspired more debate than actual commerce. 

In this article, BI Intelligence, Business Insider’s premium research service, has listed the top cryptocurrencies of 2017, decoding the cashless era’s top players.

Bitcoin

Having the first-mover advantage, Bitcoin is the world’s first peer-to-peer decentralized digital currency, which is now not only the most recognized and known cryptocurrency, but also the only digital currency that is most widely accepted and used in numerous real-world transactions.

With a market cap of approximately $80 billion and a supply of more than 16.5 million Bitcoins, one Bitcoin (until recently) had a value of more than $4,800, making it the costliest virtual currency on the market. Recently, it broke an all-time record high and hit a historic mark when its value peaked at awhopping $5,856.10 on October 13, 2017.

With Bitcoin ATMs and widespread knowledge and adoption, it is now easier than ever to mine and obtain Bitcoins and make actual transactions.

Coinbase operates one of the most popular wallets and is a simple way to buy Bitcoins, while Xapo is known for its ease of use in Bitcoin transactions and as a bitcoin cold-storage vault.

The main advantages of Bitcoins over other cryptocurrencies, according to Bitcoin developer andMedium writer Jimmy Song, are its network effect and proven security. According to him, other advantages of Bitcoins that make them unique are:

Bitcoin is more accessible with more merchants, more exchanges, and software/hardware support systems available.It has the largest developer ecosystem with more software and more implementations.First mover advantage: Large user base, loyalists, and entrepreneurs creating companies (open source projects, startups) around it.It is far more liquid than other digital currenciesSecurity has been proven far more than its much younger counterparts with usage by almost every metric exceeding that of altcoins.It has a large lead as a store of value.

Bitcoin should, however, not be confused with Bitcoin Cash. Bitcoin Cash is a breakaway part from Bitcoin, which is now a separate cryptocurrency itself. Bitcoin Cashhas a market cap of nearly $5.5 billion, and one BCH can be bought for $nearly $330 as of this writing.

BII

Ethereum

Proposed in late 2013, Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship, or third-party interference. It provides a decentralized virtual machine, theEthereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.

Ethereum is a platform built for smart contracts, but it has been controversial and resulted in diverging blockchains.

The market cap of Ethereum is more than $29 billion with a price of approximately $300 (from a mere $8 at the start of 2017). In the historic quarter for cryptocurrencies, Ethereum’s rise has been almost negligible in terms of what is expected from digital currencies, it has gone up just 8%.

The Ethereum Wallet is a gateway to decentralized applications on the Ethereum blockchain. It allows you to hold and secure ether and other crypto-assets built on Ethereum, as well as write, deploy and use smart contracts.

Despite Ethereum being overshadowed by Bitcoin in various arenas, recent news and developments in the Ethereum realm have started igniting deep interest in this cryptocurrency.

Recently, Ethereum founder Vitalik Buterin spoke about Ethereum’s capacity to have transactional power to equal Visa in the next two years. Buterin believes the cryptocurrency and its blockchain can replace credit card networks and gaming servers.

Also in major news this year, thirty big banks, tech giants, and other organizations (including J.P. Morgan Chase, Microsoft, and Intel) are uniting to build business-ready versions of the software behind Ethereum. The Ethereum alliance arrives as a challenger to several other extant blockchain ventures.

In April 2017, a Microsoft demo day in New York featured Ethereum blockchain strongly. There, three high-profile companies – Bank of America, tech firm Mojix, and digital travel firm Webjet – demoed products built using Ethereum to streamline various aspects of their industries and usher in new levels of transparency.

Altcoins

Altcoins or "Alternative coins" are the alternative cryptocurrencieslaunched after the success of Bitcoin. Altcoins promote themselves as better substitutes to Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow.

Although the list is constantly changing, the top 10 Altcoins(contenders of Bitcoin) are:

Ethereum 

Ripple 

Litecoin 

Dash: Digital+ cash 

NEM

Ethereum Classic 

Monero 

Zcash 

Decred: Decentralized credit

PIVX: Private Instant Verified Transactions

Where to Buy Cryptocurrency?

Ranging from BTMs (Bitcoin ATMs), embassies, and exchanges, cryptocurrencies can be bought and traded at multiple locations worldwide.

Cryptocurrency exchanges are websites where you can buy, sell, or exchange cryptocurrencies for other digital currencies or traditional currencies such as US dollars or Euro. There are three types of exchanges:

Trading PlatformsDirect TradingBrokers

Amongst a number of host platforms, some of the best cryptocurrency exchanges based on user friendliness, accessibility, fees, and security are:

Coinbase- one of the most popular and well-known cryptocurrency broker/trading platform in the worldKraken- is the largest Bitcoin exchange in euro volume and liquidity and is a partner in the first cryptocurrency bank.io- The platform lets users easily trade fiat money with cryptocurrencies and conversely cryptocurrencies for fiat money.Poloniex and many others.

BTMs or Bitcoin ATMs are Internet machines that allow a person to exchange Bitcoins and cash. Some Bitcoin ATMs offer bi-directional functionality; these machines enable the purchase of Bitcoin as well as the redemption of Bitcoin for cash.

Bitcoin kiosks are machines which are connected to the Internet, allowing the insertion of cash in exchange for Bitcoins given as a paper receipt or by moving money to a public key on the blockchain. They look like traditional ATMs, but Bitcoin kiosks do not connect to a bank account. They instead connect the user directly to adigital exchange.

The world’s first BTM was installed in Vancouver in 2013, and they have since expanded to various countries all around the world.Coin ATM radar actually allows you to find Bitcoin or other cryptocurrency ATM locations/exchange services on their world map.

Bitcoin embassies are physical locations there to represent Bitcoin and blockchain technology to show people how the technology works. They offer consulting services, information on Bitcoin mining equipment, security tools, storage solutions, and other related information. 

More to Learn

Cryptocurrency is a growing mega-trend, which is being recognized worldwide and is being incorporated into daily life transactions. Bitcoin has the fintech ecosystem and the resources to compete, whereas its counterparts are still trying to stay on top and fight the other 1,100 cryptocurrencies in the market space. 

BI Intelligence has delved further into this virtual competition between the digital currencies and has put together two detailed reports on the blockchain: The Blockchain in the IoT Report and The Blockchain in Banking Report. 

To get these reports, plus immediate access to more than 250 other expertly researched reports, subscribe to an All-Access pass to BI Intelligence. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> Learn More Now

You can also purchase and download the full reports from our research store: 

                            >> Blockchain in the IoT

                            >> Blockchain in Banking

EXCLUSIVE FREE REPORT:
The Bitcoin 101 Report by the BI Intelligence Research Team.
Get the Report Now »

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JustCryptos:
My brother I rest my case ooo

I Just read the below. How can something getting easier to make be increasing in price?

"With Bitcoin ATMs and widespread knowledge and adoption, it is now easier than ever to mine and obtain Bitcoins and make actual transactions."

rookidmart:
Thinking bitcoin will replace fiat is delusional.

I like bitcoin and all, but that's not possible.

At most it will be the world reserve

Recently, Ethereum founder Vitalik Buterin spoke about Ethereum’s capacity to have transactional power to equal Visa in the next two years. Buterin believes the cryptocurrency and its blockchain will replace credit card networks and gaming servers.

JustCryptos:
My brother I rest my case ooo

I hear ya.
Bottom line non of us really understands this bitcoin/cryptocurrency phenomena. A currency worth near zero in 2010, the same exact currency now worth $13,000 (I checked, the price has fallen sharply) makes no sense. Neither does a crrency tied to nothing and backed by no govt.

JustCryptos:
The keyword there is "INTRINSIC". We could as well be using stones as money. Printing means some initial cost, it also means limited supply. These come into play before other scales of economics. I hope you get my point.

Sort of, I guess. Thanks. Though I don't see how there is intrinsic value in something that at one point had zero value. Also the limited supply of money does not result from it's having to be printed but from it's having to be backed by something. Bitcoin is backed by nothing.

15 u said

True

Ok

I've always prefered dark skinned girls. I don't know why.

Of course.

JustCryptos:
Understand the features of money and you'll understand how Bitcoin gets its value. Money is a medium of exchange, the intrinsic value comes from the cost spent in printing it. Same with trade by barter, the cost of cultivating.

Bitcoin is mined by solving complex algorithms. That's were the value is.

TBC - the billion coin is a scam coin. Do not buy it. I repeat, do not buy it.

I beg to differ. If the value comes from the cost of printing it then a five dollar note will be worth same as a $100 note. Besides, bitcoin was worth
$0 not long ago.

ipodstinks:
Yes o. I condemned It when it first came and made a huge mistake. I heard about tbc too now, I see people condemning it, but I don't care as I both it.

What is tbc?

Isokowadoo:
What a Read, Earned 4btc back den And Sold all.
Funny Ppl Ain't allowed to Talk Abt btc on Nairaland

But how do u get paid in Bitcoin - like, were u given anything physical?

whitebeard:
I guess we just have to develop something new again..like a diamond backed currency.!

But bitcoin is not backed by ANYTHING. that's what I don't understand. What exactly gives bitcoin value?

Can bitcoin eventually replace world currencies?
Won't be a bad thing for Nigeria, I don't think.
Anybody understand exactly what gives bitcoin value?

(Note that the price of one bitcoin is now more than seventeen thousand USD - $17,000)

Bitcoin value history (comparison to US$)

Value of one bitcoin (1 BTC) over the years

Jan 2009 – Mar 2010
basically none. No exchanges or market. Users were mainly cryptography fans who were sending bitcoins for hobby purposes representing low or no value.

In March 2010, user "SmokeTooMuch" auctioned 10,000 BTC for $50 (cumulatively), but no buyer was found.

Mar 2010 - $0.003
On 17 Mar 2010, the now-defunct BitcoinMarket.com exchange is the first one that starts operating.

May 2010 - less than $0.01
On 22 May 2010, Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC.

July 2010 - $0.08
In five days, the price grew 1000%, rising from $0.008 to $0.08 for 1 bitcoin.

Feb 2011 – April 2011- $1.00
Bitcoin takes parity with US dollar.

July 2011 - $31.00
Top of first "bubble", followed by the first price drop.

Dec 2011 - $2

Dec 2012 - $13.00
Slowly rising for a year

11 April 2013 - $266
Top of a price rally, during which the value was growing by 5-10% daily.

May 2013 - $130
basically stable, again slowly rising.

June 2013 - $100
In June slowly dropping to $70, but rising in July to $110

Nov 2013 - $350 — $1,242

From October $150, $200 in November, rising to $1,242 on 29 November 2013.

Dec 2013 - $600 
$1,000 Price crashed to $600, rebounded to $1,000, crashed again to the $500 range. Stabilized to the ~ $650–$800 range.

Jan 2014 - $750 — $1,000
Price spiked to $1000 briefly, then settled in the $800–$900 range for the rest of the month.

Feb 2014 - $550 — $750
Price fell following the shutdown of Mt. Gox before recovering to the $600–$700 range.

Mar 2014$450 — $700
Price continued to fall due to a false report regarding bitcoin ban in China and uncertainty over whether the Chinese government would seek to prohibit banks from working with digital currency exchanges.

Apr 2014 - $340 — $530
The lowest price since the 2012–2013 Cypriot financial crisis, had been reached at 3:25 AM on 11 April.

May 2014 - $440 — $630
The downtrend first slow down and then reverse, increasing over 30% in the last days of May.

Mar 2015 - $200 — $300
Price fell through to early 2015.

Early Nov 2015 - $395 — $504
Large spike in value from 225–250 at the start of October to the 2015 record high of $504.

May–June 2016 - $450 — $750
Large spike in value starting from $450 and reaching a maximum of $750.

July–September 2016 - $600 — $630
Price stabilized in the low $600 range.

October–November 2016 - $600 — $780
As the Chinese Renminbidepreciated against the US Dollar, bitcoin rose to the upper $700s.

January 2017 - $800 — $1,1505

12 January 2017 - $750 — $920
Price fell 30% in a week, reaching a multi-month low of $750.2-3

March 2017 - $1,290+ 
Price broke above the November 2013 high of $1,242 and then traded above $1,290.

April 2017 - $1,210 — $1,250

May 2017 - $2,000 
Price reached a new high, reaching US$1,402.03 on 1 May 2017, and over US$1,800 on 11 May 2017. On 20 May 2017, the price of one bitcoin passed US$2,000 for the first time.

May–June 2017 - $2,000 — $3,200+
Price reached an all-time high of $3,000 on 12 June and is oscilating around $2,500 since then. 

On 5 August 2017, the price of one BTC passed US$3,000 for the first time. 

On 12 August 2017, the price of one BTC passed US$4,000 for the first time. 

Two days later, the price of one BTC passed US$4,400 for the first time.

September 2017 - $5,000
On 1 September 2017, bitcoin broke US$5,000 for the first time, topping out at US$5,013.91.

12 September 2017 - $2,900
Price dipped harshly from China's bitcoin ICO and exchange crackdown (those following improper practices)

13 October 2017 - $5,600
Price shot back up as the world moves on past the incident following China's crackdown.

21 October 2017 - $6,180
Price hit another all time high as the impending forks draw closer

6 November 2017 - $7,300 

12 November 2017 - $5,519-$6,295 

November 2017 - $7,600-8,100 
This surge in Bitcoin may be related to developments in the 2017 Zimbabwean coup d'état. 

25 November 2017 - $9,000 
Bitcoin surpasses the $9,000 mark for the first time.

28 November 2017 - $10,000 
Bitcoin surpasses $10,000 for the first time.

29 November 2017 - $11,000 
Bitcoin surpasses $11,000 for the first time.

5 December 2017 - $12,000 
Bitcoin surpasses $12,000 for the first time.

6 December 2017 - $13,000 
Bitcoin surpasses $13,000 for the first time.

7 December 2017$17,000 
Bitcoin surpasses $17,000 for the first time @ 23:03.

8 December 2017 - $18,000 
Bitcoin surpasses $18,000 for the first time @ 00:28.

8 December 2017 - $14,277 
Bitcoin price drops to $14,000, but later that day it reaches $16,250

12 December 2017 - $17,000 
Bitcoin price stabilize at $17,000. 
The all time high so far is $19,697.
-------------------------------------------------------


50 Amazing Facts About Bitcoin

By Saruni Maina
August 25, 2017 


1) Satoshi Nakamoto is a fictitious name of the Bitcoin creator or creators. Nakamoto is believed to own around 1 million Bitcoins worth $2 Billion.

2) No single entity or government has control over the Bitcoin currency.

3) There is a finite number of bitcoins, 21,000,000.

4) 1% of the Bitcoin community controls 99% of the world’s wealth.

5) Since March 2015, Bitcoin transaction fees are up by 1289%.

6) 69% of all banks in the world are experimenting with permissioned blockchains.

7) Bitcoin value has multiplied 879,999 times from 2010 to 2017.

64% of Bitcoins have never been used and might never be used.

9) The Federal Bureau of Investigation (FBI) owns 1.5% of the world’s Bitcoins.

10) Around 5% of the Bitcoin economy is active on Silk Road online black market.

11) The world’s largest Bitcoin exchange MT Gox crashed in 2014 and prices fell by 40%.

12) Potential annual savings for banks utilizing blockchain technology is $8-12 million.

13) Only 807 people worldwide have ever declared Bitcoin income for tax purposes.

14) There are 7 Bitcoin debit cards for businesses and individuals.

15) The first big Bitcoin acquisition was worth $11.5 million for 126,315 Bitcoins. This is known as the SatohiDice.

16) A person by the name Nakowa won 11,000 Bitcoins worth $1.3M back in 2013 on a gambling site.

17) Chinese mining pools control more than 70% of the Bitcoin network’s collective hashrate (the speed at which a computer is completing an operation in the Bitcoin code).

18) Bithumb, the 4th largest Bitcoin exchange was hacked for billions of dollars in July 2017.

19) In May 2010, 10,000 Bitcoins would get you two Pizzas.

20) In May 2017, 1 Bitcoin was worth 20 million Pizzas.

21) Refunds are not possible on Bitcoin transactions

22) Bitcoin transactions are measured in Satoshi/byte. 1 Satoshi = 0.00000001 Bitcoin.

23) James Howell lost 7500 Bitcoins worth £4 million by throwing his hard drive which had his Bitcoin wallet.

24) Bitcoins generated as a reward for mining halves every 4 years until all Bitcoins are fully mined.

25) A new block of coins is “solved” every ten minutes which leads to about 6 new discoveries of Bitcoins per hour.

26) Unlike conventional currency, Bitcoins are based on mathematics and are decentralized.

27) All data from Bitcoin transactions are transparent and can be seen on Blockchain.

28) By July 2017, 16.4 million Bitcoins were in circulation.

29) The 4000th Bitcoin worth $3 million was donated to Wikileaks in December 2016.

30) The Bitcoin network is more powerful than 500 supercomputers put together.

31) In 2016, someone accidentally sent $137,000 worth of Bitcoins instead of $5 with no way to get it back.

32) 17 million Bitcoins are expected to be in use in 10 years.

33) The 21 million Bitcoin limit is expected to be reached in 2140.

34) Alphabay Phisher Phishkingz claims to have made $1 million by stealing Bitcoins over a period of 14 months.

35) University of Nicosia, Cyprus, was the first university to accept Bitcoins to pay for academic fees.

36) Virgin Galactic, theoretical space travel adventure club accepts Bitcoins.

37) You can earn extra Bitcoins by playing Blockchain game.

38) Florida circuit court dismissed a money laundering case in 2016 saying Bitcoin is not money as per state regulations.

39) Bitcoin has surged up ( )% in 2017 only.

40) In August 2012, a Bitcoin Ponzi scheme by the name Bitcoin Savings and Trust was shut down and people lost 700,000 Bitcoins in total.

41) Microsoft, Dell and Expedia are examples of companies that accept Bitcoins as payment.

42) Austin Craig and Beccy Bingham showed how one can survive 90 days on Bitcoins alone.

43) The number of merchants accepting Bitcoins grew from 36,000 to 82,000 in 2014.

44) Ethereum with a market cap of 18.7 billion coins and Litecoin with a market cap of 2.27 billion coins are believed to be Bitcoin successors.

45) 90% of all Bitcoin addresses have little or no real value at all.

46) Roger Ver (52 million Bitcoins), Charlie Shrem (45 million Bitcoins) and Dave Carlson (35 million Bitcoins) are some of the Bitcoin millionaires today.

47) There are 1354 Bitcoin ATMs worldwide, in 55 countries by 21 ATM producers and 231 operators.

48) Bitcoin has value added tax (VAT) exemption on Belgium.

49) Swiss classified digital currency as a foreign currency.

50) Bitcoin is illegal in Vietnam, Bolivia, Kyrgyzstan, Iceland, Ecuador, Bangladesh and Thailand.

http://www.techweez.com/2017/08/25/50-bitcoin-facts/

Lalasticlala, Seun

Maybe we should replace Naira with bitcoin.

Bitcoin value history (comparison to US$)

Value of one bitcoin (1 BTC) over the years

Jan 2009 – Mar 2010
basically none. No exchanges or market. Users were mainly cryptography fans who were sending bitcoins for hobby purposes representing low or no value.

In March 2010, user "SmokeTooMuch" auctioned 10,000 BTC for $50 (cumulatively), but no buyer was found.

Mar 2010 - $0.003
On 17 Mar 2010, the now-defunct BitcoinMarket.com exchange is the first one that starts operating.

May 2010 - less than $0.01
On 22 May 2010, Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC.

July 2010 - $0.08
In five days, the price grew 1000%, rising from $0.008 to $0.08 for 1 bitcoin.

Feb 2011 – April 2011- $1.00
Bitcoin takes parity with US dollar.

July 2011 - $31.00
Top of first "bubble", followed by the first price drop.

Dec 2011 - $2

Dec 2012$13.00
Slowly rising for a year

11 April 2013 - $266
Top of a price rally, during which the value was growing by 5-10% daily.

May 2013 - $130
basically stable, again slowly rising.

June 2013 - $100
In June slowly dropping to $70, but rising in July to $110

Nov 2013 - $350 — $1,242

From October $150, $200 in November, rising to $1,242 on 29 November 2013.

Dec 2013 - $600
$1,000 Price crashed to $600, rebounded to $1,000, crashed again to the $500 range. Stabilized to the ~ $650–$800 range.

Jan 2014 - $750 — $1,000
Price spiked to $1000 briefly, then settled in the $800–$900 range for the rest of the month.

Feb 2014 - $550 — $750
Price fell following the shutdown of Mt. Gox before recovering to the $600–$700 range.

Mar 2014$450 — $700
Price continued to fall due to a false report regarding bitcoin ban in China and uncertainty over whether the Chinese government would seek to prohibit banks from working with digital currency exchanges.

Apr 2014 - $340 — $530
The lowest price since the 2012–2013 Cypriot financial crisis, had been reached at 3:25 AM on 11 April.

May 2014 - $440 — $630
The downtrend first slow down and then reverse, increasing over 30% in the last days of May.

Mar 2015 - $200 — $300
Price fell through to early 2015.

Early Nov 2015 - $395 — $504
Large spike in value from 225–250 at the start of October to the 2015 record high of $504.

May–June 2016 - $450 — $750
Large spike in value starting from $450 and reaching a maximum of $750.

July–September 2016 - $600 — $630
Price stabilized in the low $600 range.

October–November 2016 - $600 — $780
As the Chinese Renminbidepreciated against the US Dollar, bitcoin rose to the upper $700s.

January 2017 - $800 — $1,1505

12 January 2017 - $750 — $920
Price fell 30% in a week, reaching a multi-month low of $750.2-3

March 2017 - $1,290+ 
Price broke above the November 2013 high of $1,242 and then traded above $1,290.

April 2017 - $1,210 — $1,250

May 2017 - $2,000 
Price reached a new high, reaching US$1,402.03 on 1 May 2017, and over US$1,800 on 11 May 2017. On 20 May 2017, the price of one bitcoin passed US$2,000 for the first time.

May–June 2017 - $2,000 — $3,200+
Price reached an all-time high of $3,000 on 12 June and is oscilating around $2,500 since then.

On 5 August 2017, the price of one BTC passed US$3,000 for the first time.

On 12 August 2017, the price of one BTC passed US$4,000 for the first time.

Two days later, the price of one BTC passed US$4,400 for the first time.

September 2017 - $5,000
On 1 September 2017, bitcoin broke US$5,000 for the first time, topping out at US$5,013.91.

12 September 2017 - $2,900
Price dipped harshly from China's bitcoin ICO and exchange crackdown (those following improper practices)

13 October 2017 - $5,600
Price shot back up as the world moves on past the incident following China's crackdown.

21 October 2017 - $6,180
Price hit another all time high as the impending forks draw closer

6 November 2017 - $7,300 

12 November 2017 - $5,519-$6,295 

November 2017 - $7,600-8,100 
This surge in Bitcoin may be related to developments in the 2017 Zimbabwean coup d'état.

25 November 2017 - $9,000 
Bitcoin surpasses the $9,000 mark for the first time.

28 November 2017 - $10,000 
Bitcoin surpasses $10,000 for the first time.

29 November 2017 - $11,000 
Bitcoin surpasses $11,000 for the first time.

5 December 2017 - $12,000 
Bitcoin surpasses $12,000 for the first time.

6 December 2017 - $13,000 
Bitcoin surpasses $13,000 for the first time.

7 December 2017$17,000 
Bitcoin surpasses $17,000 for the first time @ 23:03.

8 December 2017 - $18,000 
Bitcoin surpasses $18,000 for the first time @ 00:28.

8 December 2017 - $14,277 
Bitcoin price dropped to $14,000, but later that day it reaches $16,250

12 December 2017 - $17,000 
Bitcoin price stabilize at $17,000.
The all time high so far is $19,697.

Rip

RIP

RIP

GenBuhari:
Yeah.Wetinconsign. Btw choose to deliberately call that joke group IPOD because they don't deserve to have the name Biafra. Biafra's name shouldn't be sullied by foolishness.
@juliiearth
Are u talking about the same NL that deleted the original DAN thread and banned the founder?
Don't count on NL support, lets just put it that way.

I just now tried logging in with a different network and it worked. I'm no longer able to log in through my normal network. Could be NL'S handwork.
Thanks u guys for keeping things going. Now we are in 'ember months I know Christmas hustle is in full swing so I commend anyone who can find the time.

**Danites are members of DAN (Detribalised Association of Nigeria)
**We Danites try to see people as human beings, as individuals, not groups or tribes. We are too big to be just tribe. We see ourselves as human beings, as black people, as Africans, as NIGERIANS, then, way down the list, tribe.
**We make posts against tribal bigotry and hatred and posts supporting detribalization and unity of Nigeria. While seeking solutions for her innumerable problems, we encourage love for our beloved country, Nigeria. We encourage inter-tribal connections and cooperation.
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illuminated93, Addy003, Ikhilor, GQman, neocortex, TheHistorian, Shaytun, sirjerry, WORDWORLD, amanda2013, wetinconsignme, freshest4live, ameri9ja, Okoroawusa, onward4life, Almaheed, genbuhari, Axeman2, lonelydora, LoveMachine, darkckUSA, mrdashing10, henitan24, amah91, obaamah, ediss, maximunimpact, maxiflexy, reel14, Clean2016, isalegan2, ilekokonit, xtianh, drabeey, jumper524, mrmystro, ahmed99, royaluc, dongrea, winterfell007, quotasystem, nabiz, deleyi20, mujtahida, stagger, Horllamideh, jnrremedy, litmus, shervydman, ikio, iykmann, limitless777, jakd, juneoctober, hati13, panafrican, musicwriter, naijatalktown, itsmrike, enice, rossikki, dokunbam, fiftynaira, goldbim, Frankyboy1, 9jaDoc, JaffyJoe, castiello, kitaatita, VillageWinch, GhanaMustGoo, oz4real83, rafsonnggmail, Kingspin, Chukazu, Juliearth, asunaobi, dabiton, mesoprogress, elog
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LeSaint:
You're a fool too, because from your comments, you too believe it works.
And I bet it won't take much to persuade you to try it.

Op, please be properly guided; MONEY RITUALS DO NOT WORK.
Only ignoramuses would believe it works, just like they believe every other rubbish like sowing seeds, love charms, odeshi, magic, witchcraft, etc, etc.
Take it from me, you're on the right path of cultivating a clear, uncluttered, free and futuristic, universally oriented mindset. I'm a senior, and I've been like this since chdhood. And I come from one those notoriously "diabolical" areas.
I was less than ten years old when I started questioning and testing everything, after the native rainmaker failed to hold back rain for my great dad's funeral. I've also caught people burying fetish objects on behalf of pastors, only to arrange a paid prayer mission in the near future to "divinely" locate and unearth them.
You'll know that these things don't work by the way the western world regard us when we make noise about them. They laugh us to scorn, because they themselves overgrew such centuries ago, when science was in infancy.
Some people would tell you, ah, this is African o!
As if it's not the same natural laws that rule the entire universe. Evil is in people's minds, nowhere else. It's natural laws that are in effect in everything you observe, except when evil minded people act contrary.

Nothing is black and white. That is the way the universe is
Something may not work yet work. Or maybe. 0.01% is real. Don't be so definitive.

Why all the grammatical errors

TheLordIsGr8:
I certainly applaud what you're trying to do. But "we are all human beings" has never been enough of a unifying force among peoples anywhere in the world. Not in China. Not in America. Not in India. Not in South Africa. Certainly not in Nigeria. Certainly not in Eastern or Northern Nigeria. Faced with a group such as Boko Haram would you rather take up arms or you will hold that "we are all human beings" and submit to their ideology or die at their hands?

Things work the other way round in opposition to your list. First comes oneself (love your neighbour as yourself), then family, then extended family/friends, then tribe/religion, etc. Humanity comes dead last. Even in your group you will get a lot of dissent. "We are all human beings" won't cut it when that time comes. The church has been preaching same thing for ages. You're not the first.

I believe it will do us good if we acknowledge the basic fact that there are things we hold dear more than "humanity". It is not just something with the black man. Look at the USA today. Protests and counter-protests. All for one reason. Not everyone subscribe to that mantra of "we are all human beings". Some things are more important. Like following the law. Due process. Civility.

The question we are still not asking is this: What is this basis of Nigeria's unity? The problems in black Africa today stems from the fact that differing peoples were lumped together without having a chance to negotiate terms of agreement. The result is that instead of being busy negotiating terms of agreement, they're busy negotiating self-determination. What a waste of human resources.

Today there is ECOWAS. It is not perfect yet, but it is a work in progress which has made many gains. Imagine if all of the ECOWAS nations were one country. What do you think they will be negotiating today? You guessed it. Self-determination. The mistake ECOWAS would make is to think that it can acheive 100% unity. Not possible. That is what is ailing the EU today. There were not content with just making gains. They became greedy and wanted the whole pizza. They wanted the wolf and the lamb to lay together; for the Now we see the EU will only go downhill. Maybe not soon. But it will happen. Look at the India and Pakistan. Look at the world over. Its the same story.
If Nigeria and Biafra were separate countries today, believe me they will be negotiating terms of unifying into what, in the prophetic words of Solomon Dalung will be called the United States of Nigeria (and Biafra). Look at the USA and the UAE. Same story.


Look at Italy. The Vatican is its own country within Italy. Places such as Milan, Bologna etc were separate city states. But over time they negotiated terms of unity to form what we see today as modern Italy.
Look at Europe. They've tried to negotiate terms for a unified Europe through the EU. But Britain has pulled out. Poland and its Eastern neighbours are giving the EU a hard time. Surely they are all human beings. But when push comes to shove a common humanity just don't cut it. Its a shared heritage among us all, but it comes dead last in our list of allegiance. This holds for every human being irrespective of place and time. You as well, cos you will rather admit someone who chants same mantra into your group than you would admit someone who doesn't. That's where your allegiance lies. Not with humanity.

About having a bad peace than another Biafran war. Look at it this way. Lets use a case of husband and wife. If you were to be judge in case where a woman demands freedom from her husband for reason that she don't want to be with the man again. Not that the man did anything you consider "wrong" as a judge. But instead of the man to plead with her or give her her freedom, he promptly declared war on her, beating her to the point of hospitalization. As a judge, would you tell the woman, "go home and have a bad peace with your husband. I rather have that than another round of war" or would you throw the man in jail?

Now imagine millions of such cases in your court. If you would condone the case for one, why not go ahead and make a unitary declaration. To all victims of domestic violence, go home and have a bad peace. Case closed. Nothing to hear. Does that sound like a dictator to you?

Before anyone accuses me of tribalism they are welcome to go through my posts if they have time to find out the truth. I don't make tribally or racially-charged statements. I detest such myopic vision in all its forms. But it was Jesus who said "the truth shall set you free".

Variety, they say, is the spice of life. To hold that "we are all human beings and nothing else matters" is being used to vehemently deny variety.

Thanks for taking the time. We TRY to see a person for what he truly is - a humam being, an individual. Instead of prejudging him as a member of a group. Most of our bigoted views are based on generalised information introduced by man, and are not true to nature. Underneath, for the most part, we are all basically the same.
The big differences between people is due to the type of INDIVIDUAL they are instead of their ethnicity. That's why in every ethnicity you have good and bad. We believe Nigeria is a wonder that should not be allowed to easily disintegrate.
I am Igbo and I believe this bad peace in Nigeria is a thousand times better than Biafran war.

GenBuhari:
DANites lets discuss strategy.
Here are my ideas:

Every DANite should follow every other DANite, please let all start by asking to be followed.

Being followed helps us to locate posts of people we follow.

Let me start :

Follow me by clicking my moniker or by going to or clicking www.nairaland.com/GenBuhari

Follow me now.

Fellow DANites please make similar post to encourage others to follow you.

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illuminated93, Addy003, Ikhilor, GQman, neocortex, TheHistorian, Shaytun, sirjerry, WORDWORLD, amanda2013, wetinconsignme, freshest4live, ameri9ja, Okoroawusa, onward4life, Almaheed, genbuhari, Axeman2, lonelydora, LoveMachine, darkckUSA, mrdashing10, henitan24, amah91, obaamah, ediss, maximunimpact, maxiflexy, reel14, Clean2016, isalegan2, ilekokonit, xtianh, drabeey, jumper524, mrmystro, ahmed99, royaluc, dongrea, caseless winterfell007, afobear, quotasystem, nabiz, deleyi20, mujtahida, stagger, Horllamideh, jnrremedy, litmus, shervydman, ikio, iykmann, limitless777, jakd, juneoctober, hati13, panafrican, musicwriter, naijatalktown, itsmrike, enice, dokunbam, fiftynaira, goldbim, Frankyboy1, 9jaDoc, JaffyJoe, castiello, kitaatita, VillageWinch, GhanaMustGoo, oz4real83, rafsonnggmail, Kingspin, Chukazu, Juliearth, asunaobi, dabiton, mesoprogress
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I'm about to follow u. Tell me if you receive it

mesoprogress:
This is a campaign to end ethnic bashing. It's not helping our youths in Nigeria. Instead of discussing intelligent ideas, we dwell on trivialities. I am campaigning to stop this on Nairaland. If only one person a day can make a decision to refrain from ethnic bashing hencee, then this must have achieved it's purpose. Stop it and encourage others to do please do so as well. Bless you

mesoprogress, this is amri9ja, founder of the Danist movement. I am nominating you to become a Danite if you don't mind.
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**Danites are members of DAN (Detribalised Association of Nigeria)
**We Danites try to see people as human beings, as individuals, not groups or tribes. We are too big to be just tribe. We see ourselves as human beings, as black people, as Africans, as NIGERIANS, then, way down the list, tribe.
**We make posts against tribal bigotry and hatred and posts supporting detribalization and unity of Nigeria. While seeking solutions for her innumerable problems, we encourage love for our beloved country, Nigeria. We encourage inter-tribal connections and cooperation.
☆☆☆☆☆☆☆☆☆☆☆☆☆☆☆☆☆☆☆☆☆
illuminated93, Addy003, Ikhilor, GQman, neocortex, TheHistorian, Shaytun, sirjerry, WORDWORLD, amanda2013, wetinconsignme, freshest4live, ameri9ja, Okoroawusa, onward4life, Almaheed, genbuhari, Axeman2, lonelydora, LoveMachine, darkckUSA, mrdashing10, henitan24, caseless, amah91, obaamah, ediss, maximunimpact, maxiflexy, reel14, Clean2016, isalegan2, ilekokonit, xtianh, drabeey, jumper524, mrmystro, ahmed99, royaluc, dongrea, winterfell007, afobear, quotasystem, nabiz, deleyi20, mujtahida, stagger, Horllamideh, jnrremedy, litmus, shervydman, ikio, iykmann, limitless777, jakd, juneoctober, hati13, panafrican, musicwriter, naijatalktown, itsmrike, enice, dokunbam, fiftynaira, goldbim, Frankyboy1, 9jaDoc, JaffyJoe, castiello, kitaatita, VillageWinch, GhanaMustGoo, oz4real83, rafsonnggmail, Kingspin, Chukazu, Juliearth, asunaobi, dabiton
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