Yes the price is hypnotic to watch, but yesterday we had a Bitcoin round-table among friends and the things that were being discussed were well beyond price speculation, it was more like planning for a completely different world. This is why I enjoy Bitcoin.

With it's decentralized ledger and world-wide access, Bitcoin is not only an interesting investment, but it is also undermining every financial & political system on earth that requires us to trust a central entity to keep a record, and to speak that record back to the public for proof or decision making. Here are the things we spoke about at our round table – they give me some hope for the future that didn't exist in a real way before bitcoin.

  • The need for real life banks is gone, they can exist for other useful/different reasons, but everyday large scale transactions and most daily personal banking needs, and generally financial security are all no longer bank dependent (nor credit card/website dependent).. Just this alone could really change a lot. If all the resources and money lost to huge salaries, "legal corruption", along with a now very archaic infrastructure (right down to air-conditioned skyscrapers) and untrained staff, were all translated into savings for the common user, the world market would be very different. The amounts of profit that banks make alone is staggering. At least in the billions per bank per year in 1st world countries. Then there is the fraud… Our personal estimates of 10s of trillions of dollars saved over short amounts of times (a few years) seemed almost conservative when taking everything into consideration.

  • War resistant money! Bitcoin means that people can flee their homeland, leave their home and everything they have, get to some other safe place, use an airport internet hotspot and access their entire life savings without interruption. Also, as a whole, the public money is safe, even if taken over completely, when the military takes over, when the religious wars are waged, no money will necessarily be at risk. We wondered, if wars could not be funded by robbing the country being invaded, could they be fully paid for by taking natural resources and land alone? We weren't sure, but it would take out a big bite. There were so many different little reasons we came up with around war, but I'll move on.

  • Voting. No need to dwell on this one, obviously voting and fraud is a big conversation these days. A blockchain based voting system is surely going to shed some light on the true opinions of the nation. We were not so sure if this would be a big deal or not, but we decided its best to be sure fraud is dealt with at this level of decision making. But also, since voting could potentially be in your hands, on a phone or device, maybe we vote together on some of the simpler decisions, it could deflate the pressure on higher levels of govt to make these decisions, maybe they could spend some time on important things etc… Why spend so much time discussing things in govt when we could know the exact sentiments of the entire country very quickly and cheaply. This blockchain tech doesn't exist yet so I'll leave it alone.

  • Immutable history. I mean, this is the first time there is the potential for human history to be recorded in a verifiable way. We could actually be able to all agree on what happened and how it happened because there is a decentralized ledger. If one pays close attention to how much merit and importance we put into history and how things went…With modern education there is a constant need to show you how to feel about the world, why we are the good ones & who is bad. The internet feeds this desire to new heights of addiction. A blockchain of events, not only financial but of all events could change our relationships worldwide.

I know some of these things are blockchain based ideas, I personally believe the bitcoin blockchain is capable of doing all of these things in some way, or at least the network could power & secure these types of tech. Being the one largest, most secure, immutable ledgers on earth with no central authority, there is a reason to continue on with Bitcoin as the main blockchain. These few things I mentioned above are just a small example of the earth-changing things that Bitcoin is capable of, we have only scratched the surface.

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BitPay CEO Stephen Pair: “If Bitcoin did not change one bit — even kept the one-megabyte block size limit forever — we’ve got enough tools at our disposal that we can completely reshape the global payments system…”

BitPay CEO Stephen Pair: “If Bitcoin did not change one bit — even kept the one-megabyte block size limit forever — we’ve got enough tools at our disposal that we can completely reshape the global payments system...” submitted by /u/pokertravis
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Many BU supporters seem completely unaware that BU requires eventually removing the 21 million supply cap.

Peter Rizun (head BU dev):

"To have a fee market with no block size limit you need Bitcoin's inflation rate to be nonzero"

"I don't believe a fixed supply is a central property of Bitcoin."

Roger Ver has also said that he is okay with the risk of bitcoin becoming paypal 2.0

I think if this was more widely known there would be much less support.

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We’re about to completely deregulate Bitcoin in NH!! Just passed the house!

Just minutes ago, house bill 436 passed the NH state house. It completely exempts virtual currencies from money transmitter regulations and leaves choices entirely in the hands of consumers rather than bureaucrats. This reverses the regulation that temporarily caused Poloneix and other exchanges to cease NH operations.

While states like Hawaii are pulling bullshit that might as well make Bitcoin illegal, we're working on doing the opposite here in NH.

If you support this effort, these people did the most work. I'm sure they'd love a thank you or a donation:

  • Keith Ammon (bill sponsor and actually trades crypto! defended bill on the floor)
  • Barbara Biggie (bill sponsor)
  • John Hunt (got the bill out of committee, defended it on floor, makes amazing arguments about how the state should regulate beanie babies if it's going to regulate crypto trading 🙂 )
  • Chamber of Digital Commerce – Helped me learn how to testify to politicians and sent in some big guns in support

You can also let Governor Sununu know he should sign it.

I also got to participate in this process as the governor-appointed expert on cryptocurrencies. It was really great to get to give back and help fight some of the misconceptions out there. More on the LBRY blog.

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Processing bitcoins on my website completely by myself, with no third-party bitcoin SaaS services

I want to be able to accept and process bitcoins on my website only by mysefl. With no 3rd party bitcoin services. How can I do that? One way is to use Electrum. But its documentation regarding merchant is really bad. Does anyone have experience with that? It doesn’t have to be Electrum, though, and any bitcoin software will. I’m a programmer, I’m ok implementing a neccesary part, it if I have to, by myself.

Recent Questions – Bitcoin Stack Exchange

How I am riding Bitcoin roller-coaster completely stress free

Before anything, I want to emphasize that everything I'll say here is pretty much common knowledge. It's been discussed before. I'm not professing knowledge of future, have no silver bullet… just telling my story.

I'm writing this primarily because I saw lots of people lately here, being so focused on the wrong things. Like BTC goes over $ 1000, there are tons of posts HOW DO I BUY NOW; BTC drops bellow $ 1000 then it's COINBASE WON'T LET ME SELL, crash is coming, etc etc.

If you are considering investing in Bitcoin you should ask yourself just two fundamental questions:

  1. Do you believe that in 5 years BTC/USD will be at higher level than it is today?

  2. How much money per month can you invest without being upset if you completely lost all of it?

I personally believe that BTC will be more valuable in 5 years. Not because of cryptocurrency buzz and all technical mumbo-jumbo, but simple because of quality people who are affiliated with BTC. When you look at the industry that's being built around BTC it pretty much resembles early days of Internet. Everyone back then was talking THIS WILL BE HUGE and all you had were these silly text only HTML pages. It's kinda like when you do BTC transaction now and end up with 20 minute wait because of Blockchain confirmations.

So, there are tons of problems and many more problems await us. Who knows, maybe price crashes back to double digits. But while I don't share view of BTC/USD at $ 20,000 in 5 years that many hold, I do believe it'll be above today's levels. Again – there are too many smart people who invested billions in all this for BTC to fail.

Now second thing – how much you can invest without breaking bank. This is REALLY important. Invest too much and you'll spend your day unproductively. You will look at BTC/USD price. You will think about future. You will start trying to read news and guess what will happen next. Will price rise or tank? Will China do X? Will India do Y? And so on…

If you are not professional investor or trader, investing or trading should be your lowest priority. Understand that you will not make tons of money – you are simply looking for good long term storage for money you are earning through other means. So, do not look for terribly complicated solutions. You are looking for set & forget. Because if you are looking for manual stuff – you WILL go crazy… especially with how terrible customer support of major exchanges like Coinbase is. You'll create some nasty workflow and then if it falls through you will suffer. Kinda like lots of people did when Mt.Gox happened. Or Bitfinex.

So, let's say you said yes to 1. and $ 300 per month on 2. What should you do? Well, it's easy:

  1. Register on exchange of your choice. Coinbase sucks. Circle sucks. Uphold sucks. Gemini… some will say it's good. But many will say it sucks. You get the idea… search this subreddit you'll see people complaining about every exchange. Worst part is that most complaints are completely valid.

  2. Identity verification = pants off. BTC won't go mainstream without regulation and luckily that process is progressing. Unfortunately for "set and forget" that means you are looking at verifying identity. Think about it as opening IRA… easier to swallow it that way.

  3. Set your daily buying. The most important part. You said $ 300 so set $ 10 daily buy. No, do not succumb to temptation of "value is too high now – let me wait a month and I'll buy in bulk then". Also don't do "value is too low now – let me buy more right now". We are going with "set and forget". You are earning money from your day job. This is investment, not magical stash that will allow you to retire in a year. In 15 years, maybe… but again – set & forget. We are not thinking about manual buys.

  4. Once you have more than $ 1000 in your exchange account set up monthly transfers to Trezor hardware wallet.

  5. Focus on your full-time job and forget about BTC. That's it. If you did this – you are set to ride investment wave of BTC with no stress. I feel that I should've somehow made this part more climactic… but… guess "no-stress" part is getting to me. After last 2 years and seeing how daily buying was the best decision I made after getting so upset with $ 1000 to $ 200 crash… I dunno. Maybe I value "no-stress" too much.

Guess you guys will tell me in comments. In any case – thanks for reading… and TO THE MOON (without stress)!

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Smart Contract Symposium to Convene in Times Square as “Completely New U.S. Government” Looms (

The inaugural Smart Contract Symposium convenes December 5 in Times Square, not far ahead of the seating of the 45th President of the United States and thousands of new appointees, most of whom are untutored in blockchain technology, digital currencies and related innovations.The Symposium, presented by the…