Bitcoin does not have a physical appearance, it is digital so basically you have logo and a number of which you understand how much you own. It is just like the dollars in your digital web account in the bank when you look at it from a computer - a number. Of course, bitcoin on the back side have much going on as a technology with great characteristics. And people speculate by buying it on exchanges like Binance/Primexbt/Kraken because it is limited.
What does a bitcoin look like? When discussing bitcoin a friend ask me this. We know it's virtual and yes it's in our computer or smart phone bit how do you identify it?
Did some searching around and it seems that 1 Bitcoin is 100,000,000 satoshis in our bitcoin wallet. it is just the nett of input and output that you can spend. Is this right? The point here is that most people will confuse bitcoin with wallet address and keys.
What does a regulated Bitcoin environment look like?
With all the talk among Congress and the White House around regulating Bitcoin, it’s a worthwhile thought experiment to consider what a fully regulated future for Bitcoin would entail. Some have said regulating Bitcoin is impossible. It’s decentralized, without any singular institution for any government to oversee. This is partially true. But that won’t necessarily stop governments from imposing their authority indirectly. The primary avenues government can intervene would be exchanges and points of purchase - the on-ramps and off-ramps for money flowing in and out of Bitcoin. This is already taking place. Exchanges operating in the US are already forced to comply with strict KYC laws, often requiring users to divulge their personal information, social security number, and even upload a copy of their photo ID. Once users have gotten their Bitcoin into these regulated environments, governments can make it nearly impossible for anyone to get their Bitcoin out. In the worst case scenario, governments would require all wallet providers, payment apps, and merchants who accept Bitcoin to abide by the same KYC laws. They could, for example, create a whitelist of approved wallets with identified users and forbid Coinbase, Square, BitPay and any other crypto company operating in the US from allowing users to send to any address that is not on that whitelist. This would effectively divide the supply of Bitcoin in two - white money and black money. Any Bitcoin circulating in wallets approved by the government would be okay for merchants and exchanges to accept. Any Bitcoin held in unidentified wallets would be locked out. Black Bitcoin could not be legally exchanged for fiat or used to purchase goods and services. It would continue to circulate among other blacklisted wallets until a user decides to “repatriate” their wallet, associating their identity with the wallet to have it whitelisted so they can sell on an exchange. In this hypothetical, there would be a high premium for Black Bitcoin. The supply of bitcoin held on anonymous wallets would drop every time a user repatriates their wallet. Governments would make it nearly impossible for whitelisted bitcoin to flow back into the black bitcoin market so only newly mined bitcoin could enter into anonymous circulation. Demand for anonymous bitcoin would sky rocket, albeit, primarily for illicit uses or cross border transactions. Given recent statements from Mnuchin and Trump advocating fierce regulation, I believe this scenario is likely. While it’s often observed that other countries’ attempts to regulate Bitcoin have failed, I believe other government don’t have the same reach and influence as the US. The adoption of KYC laws by exchanges have already regulated most on-ramps for fiat into Bitcoin. Once the off-ramps are locked down, Bitcoin will be split in two. HODL your Black Bitcoin in your hardware wallet far from the prying hands of government.
What does a global transition to Bitcoin/cryptocurrency look like?
I believe in the idea of Bitcoin but I’m no expert. When looking at is from a long-term investment standpoint, what does it look like if(when) Bitcoin and crypto eventually start to take over as a global majority currency? Is it a continued/steady rise in price until a certain acceptance rate then flatten out? Logarithmic growth that mirrors acceptance and use rates? As a higher and higher percentage of people buy in what does the curve look like? Curious what everyone’s thoughts are on the prices as we move more mainstream in the future.
What does a Bitcoin future, a decade away, look like to you?
I wanted to make a positive post here as we continue our fight against disinformation and I know that people can lose sight of goals sometimes. Additionally, sometimes goals do not align as much as we'd like but I think a diversity of opinion is still strength even with disingenuous actors. I think that a Bitcoin future ten years from now will have countries with nationwide nodes and a strong diversity of infrastructure to support Bitcoin. Countries with cheap electric will help by mining. Countries with factories will build miners. Countries with natural resources will supply the factories. Countries with developers will build the next generation of infrastructure. All of this based on market incentives as only the cheapest source of each will allow the global economy to act at max efficiency and all else will be driven out of the free market. Free-flowing funds from Bitcoin BCH will act as the levers to supporting this harmonious future and people can once again start saving for a deflationary future. I don't think I'm that smart but that's what I see 10 years from now.
In this video, taken from a lesson in my Bitcoin Advanced Level: Transactions course, I show what a Bitcoin transaction really looks like. In other words, not just as it looks on a block explorer, but what the actual information recorded on the Bitcoin blockchain looks like. If you're willing to assume the risk associated with owning bitcoin, there is an increasing number of digital currency exchanges like Coinmama, CEX, Kraken and Coinbase -- the largest and most ... Bitcoin wallets manage this automatically for you. So what does a Bitcoin transaction actually look like? “Raw” Bitcoin transactions are actually very difficult to read, which is why there is a plethora of “block explorers”, which are websites or other software used to “translate” and more easily read what’s going on in the ... Bitcoin does not have a physical appearance, it is digital so basically you have logo and a number of which you understand how much you own. It is just like the dollars in your digital web account in the bank when you look at it from a computer - a number. Mar 26, 2013 - Explore Mining Coins's board "What Does a Bitcoin Look Like?", followed by 143 people on Pinterest. See more ideas about Bitcoin, Crypto currencies, What is bitcoin mining.
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