Homeowners now accepting bitcoin in latest cryptocurrency trend

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Bitcoin for homes.
Image: bob al-greene/mashable

The bitcoin craze has officially jumped to real estate. 

Despite the risky, volatile nature of cryptocurrency, homes and property across the U.S., Australia, Canada, and beyond are for sale for the unpredictable coin. Even after one bitcoin dropped from $14,000 to $11,000 in value in a matter of days, homeowners are still putting up their homes for some of that flashy money.

It’s not just a few listings here and there. According to Bitcoin Real Estate,  a site that has been tracking the business for several years, the trend is growing more and more and not slowing down.

At the end of 2017 a Miami condo reportedly sold for 17.7 bitcoin and actual cryptocurrency was exchanged between the buyer and seller. Not just bitcoin converted into cash, which is the more popular way to use the coin.

Trulia spokeswoman Andrea McDonald found 80 listings on the site that reference cryptocurrency in some way. Many just note “bitcoin accepted,” but others really get into it.

A property near Joshua Tree National Park in Southern California makes that case for paying with cryptocurrency, insisting that the property “can be a nice investment for future at a very reasonable $5,250 per acre for a total of $2.1 million or 124 bitcoins.”

Another home in West Palm Beach, Florida, is open to buyers with bitcoin and ethereum and litecoin, but with the caveat that cryptocurrencies are constantly changing. “Owner financing possible $149,900 USD, 13 bitcoin 375 ethereum, 950 litecoin (crypto price subject to change. Inquire crypto price at time of interest),” the listing says.

So far Trulia hasn’t officially seen a sale go down with the coin, McDonald said, but it’s probably just a matter of time.

Redfin, another online real estate database, has also seen a crypto trend in its listings, especially in hubs like the Bay Area and Miami. The number of listings that accepted cryptocurrency jumped from 75 in December to 134 in mid-January. Some of those 134 listings have sold, but as a Redfin spokesman explained it’s unclear if cryptocurrency was used for all or a portion of the sale price.

Some of the listings are trying so hard to initiate a cryptosale. A Florida home used all caps and asterisks to lure in investors, screaming, “**BITCOIN SALE PREFERRED! Unique opportunity to be one of the first transactions using Bitcoin.**”. Another listing for a property in Washington state, meanwhile, was generous with exclamation points: “Seller willing to accept BITCOIN!!! The new rate of cryptocurrency that [sic] taking the world by storm!” 

Aaron Drucker, a Redfin agent in Miami, said in a phone call that including cryptocurrency in a listing gives a property more exposure. He’s also noticed that bitcoin listings tend to be luxury condos. “Earlier investors in bitcoin have made a lot of money,” he said. “They may want to convert some of that into a tangible asset.”

“I wouldn’t recommend this for first-time home buyers.”

But bitcoin sales aren’t for everyone. “I wouldn’t recommend this for first-time home buyers,” he added. “But if you want to buy a second home, this might be something to consider.” No matter how you look it at, Drucker said, it’s “definitely risky.”

Others are using bitcoin and other coins for their lucrative value. A Redfin agent in San Diego helped a buyer cash out two bitcoin valued then at nearly $7,500 each to cover closing costs for a home in Carlsbad, California. 

Carina Isentaeva, a Redfin agent in San Francisco, is in the center of the crypto-mania. In a call she said it’s all about “crypto homes” now. She had a deal that fell through because the buyer’s ICO flopped. But more surprising to Isentaeva was that the seller was willing to work with a cryptocurrency contingent sale. “You couldn’t imagine this a few years ago,” she said. “Everyone would want to see a bank statement,” not ICO filing paperwork.

Another big issue holding up more sales with actual cryptocurrency is regulation. Just finding an escrow service that will handle a crypto sale instead of traditional cash is difficult. As Isentaeva noted, the technology is moving much faster than government and laws. So the workaround is to convert bitcoin into cash and then buy property. But eventually the tech should catch up and the transaction will be more streamlined — at least that’s what Isentaeva hopes.

But no matter the difficulties, the crypto listings keep coming. Welcome to the neighborhood, bitcoiners.

Read more: http://mashable.com/2018/01/22/cryptohomes-real-estate-bitcoin-cryptocurrency/

Bitcoin could change the world by making governments change money

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Russia is working on a government-run cryptocurrency. And they’re not alone. 

Governments around the world — including the U.S., China, Japan, Canada, Venezuela, Estonia, Sweden, and Uruguay — are either actively working on some form of digital currency or exploring the topic. 

But don’t expect a bunch of bitcoin clones. Governments have very different priorities, and decentralization — a main feature of most cryptocurrenices including bitcoin — doesn’t tend to be one of them. In fact, government digital currencies could herald a new era of centralization, posing serious questions about privacy and the viability of true cryptocurrencies like bitcoin. 

There’s important differences between true cryptocurrencies and what are generally called “centralized digital currencies” (CDCs). One of the main qualities — if not the central feature — of cryptocurrencies is that they’re decentralized. This means no single person, government, company, or group can control them. CDCs, on the other hand, are on the opposite end of the spectrum. They are as centralized as can be.

That centralization could provide governments with some world-changing capabilities — some good, some rather scary. There’s the upside of giving people a secure and cheap way to buy thing. There’s also serious privacy concerns, especially when talking about authoritarian countries. 

Russia has, in particular, floated some interesting ideas around why it would want to introduce some form of government-led cryptocurrency. Details are scant, and it’s not clear if the “cryptoruble” would be a true cryptocurrency using decentralized ledger technology or if it could be mined. What is clear, however, is that Russia is interested in some sort of digital currency to get around international sanctions and possibly even allow the government to tax its sizable black markets.

“There have been two reactions from central governments. One is to try to figure out how to regulate the darn things, and the other is, do we figure out how to make our own?” said Paul Triolo, head of geotechnology at the Eurasia Group. “2017 was sort of a watershed year in that 2017 saw the regulatory response globally really pick up.”

Why now?

The technology behind digital cash isn’t new in concept of execution. Long before Venmo had become a verb, companies were working toward entirely digital transactions. 

Adoption wasn’t terribly quick or widespread. Nor were the systems that emerged to service digital transactions terribly efficient or cheap. Governments and banks weren’t in any hurry to adopt this tech since nobody else was either.

Then bitcoin happened. The explosion of BTC and other cryptocurrencies have forced governments to take a look at just what these technologies mean for the future of commerce, finance, and centralized authority over the creation and movement of money.

Jacob Eliosoff, founder of cryptocurrency investment fund Calibrated Markets, said governments are now seeing the benefits of this technology but are also going to need time to understand it.

“In principle there could be various benefits: the simple efficiency of instant global electronic transactions, preventing counterfeiting, better record-keeping and monitoring of transactions, no printing press, etc,” Eliosoff wrote in an email. “But also right now some governments, like some companies, are probably just dazzled by the hype and making stuff up so as not to get left behind.”

There’s also some larger conceptual issues at play here. Bitcoin has proven that it’s possible to create money outside of government-based financial systems. Ole Bjerg, an associate professor in at Copenhagen Business School, said this is forcing governments and central banks to ask tough questions about their role in the economies of the future.

“What bitcoin has done is it’s sort of made a lot of people aware that you can actually create money in new ways,” Bjerg said.

By many definitions, digital currencies backed, issued, and tracked by a government or central bank would not be a cryptocurrency. 

“To many of us Bitcoiners, the essence of ‘crypto’ is decentralization: a currency that no person or institution owns or controls, so no one can take it from you or prevent you from sending it, or print it at will,” Eliosoff wrote. “Countries like Denmark have been moving towards cashless societies since before Bitcoin existed, but of course those are still centrally managed currencies. You don’t have to be against fiat per se (I’m not) to see it as fundamentally different from cryptocurrencies.”

To some, the question of what is and isn’t a cryptocurrency is besides the point. The mechanism is just a detail. 

“The main point is you can have digital money which is a liability with a central bank rather than a private bank. Whether you do that with a blockchain or you do it with a database doesn’t make much of a difference,” Bjerg said.

Why should I care?

There’s a very simple reason a government digital currency could be good for you. 

It’ll save you money.

Andrew Levin, a professor of economics at Dartmouth College, said digital currencies could cut out middlemen and banks, meaning fewer people taking a cut out of transactions.

“One important reason for trying to move ahead with a central bank digital currency is to create a payment system that is essentially free for consumers and businesses,” Levin said.

If you have a debit card, there’s a good chance it says some combination of MasterCard, Visa, Bank of America, Wells Fargo, or any variety of other companies. They’re not providing that service out of the goodness of their hearts. They make money when you use that card.

Under the new system, you’d pay with money directly held by the government (or really a country’s central bank) through what some call a “Centralized Digital Currency,” or CDC.

With a CDC, you’d have a card but it wouldn’t say any of those companies. It would say probably say “U.S. Federal Reserve” — the U.S. central bank. It wouldn’t take any cut, and the U.S. government is much less likely than a bank to go under and take your cash with it.

A CDC, then, is the functional equivalent to using cash, with one big caveat that we’ll get to shortly.

Even the economists are getting excited

There’s a good reason that economists have been getting excited about CDCs. 

Governments control the economy through central banks. In the U.S., that’s the Federal Reserve a.k.a the Fed. The Fed controls the economy through a relatively arcane system in which it tweaks interest rates to control the money supply. It’s a multi-step process that attempts to influence spending and saving behavior by consumers and businesses. But since financial resources are held by private institutions, the ultimate effects of the Fed’s decisions are filtered through these other organizations. 

The major upside of a CDC is that central banks would be able to directly change the interest rates on the currency, meaning it’s incentives for saving and spending would pack a much bigger punch. And not just that, it could easily turn the interest rate negative — something central banks can’t really do now — when it really needed to stimulate growth. 

After the financial crisis and the ensuing global economic slowdown, these measures did not prove terribly effective at stimulating growth. Central banks did what they could, lowering interest rates about as much as they could in order to try to goose their economies. 

Giving central banks the ability to aggressively push the economy through control of a digital currency would make a major difference in peoples’ lives, Levin said.

“This has been a very long slow painful recovery that’s been very painful for lots of normal households. Normal American families have really suffered for the last ten years and part of the reason for that is that the Federal Reserve was constrained,” he said. 

Imagine that the financial crisis was just a speed bump instead of a giant crater that the U.S. (and really the world) is just barely climbing out of. That’s the kind of promise that some economists think CDCs could deliver on.

OK, so what are the downsides?

There’s two main drawbacks here.

The first is that the promise of decentralization isn’t just negated by a central digital currency; a CDC is even more centralized than the existing system. For people who believe that decentralization is a good thing that will free people from dependence on governments and big companies, 

The other main drawback is privacy. Cash is anonymous, giving people a certain amount of freedom to spend money without having to worry about explaining their actions.

A CDC would conceivably remove any and all privacy from your spending (at least as far as hiding it from the government). 

“This sounds glib, but many of us would argue that untraceable transactions are actually an important civil liberty which cryptocurrency enables, but digital fiat impairs,” Eliosoff wrote.

Russia’s nefarious goals for its cryptocurrencies point to how governments around the world could start embracing digital currencies for their own ends both good and bad. Meanwhile, countries like Russia and China — two of the countries most aggressively pursuing their own digital currencies — are the ones cracking down hardest on bitcoin and other distributed currencies.

Cache money

In the near future, not much will change. Governments don’t tend to move quickly. There will be any number of tests to see how this could work, as some countries have done with ideas like a minimum basic income

They could, however, be forced to adapt if cryptocurrencies begin to offer a real, viable alternative to the existing financial system. There’s plenty of blockchain enthusiasts who believe that’s just a matter of time, though it could be a while.

Read more: http://mashable.com/2018/01/08/cryptocurrency-bitcoin-governments/

As Bitcoin plummets Coinbase temporarily halts trading

Image: AFP/Getty Images

Coinbase — the largest Bitcoin market in the U.S. — has disabled all buying and selling as the digital currency Bitcoin dramatically loses value. 

At 11:11 a.m. EST, Coinbase posted that it had temporarally disabled trading:

All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience. 

About 25 minutes later, at 11:35 a.m. EST, the company said it’s still monitoring the problem:

Due to today’s high traffic, buys and sells may be temporarily offline. We’re working on restoring full availability as soon as possible. 

This “high traffic” is largely in reference to activity in the Bitcoin market. Bitcoin is the world’s highest-valued currency, as one Bitcoin hit nearly $20,000 this December.

But it’s lost about a quarter of its value in the last 24 hours and the fickle currency is now trading at around $12,874 — and some exchanges around $11,000.

Other cryptocurrencies have followed the pattern: Ethereum, Litecoin, and Bitcoin cash have all lost a quarter of their value over the last day. 

All of this frenetic activity likely overburdened Coinbase’s services — something it might better account for going forward: New currencies are inherently unstable, and the today’s cryptocurrencies will be swinging up and down for quite some time.

Read more: http://mashable.com/2017/12/22/coinbase-halts-trading-as-bitcoin-falls/

Ethereum and Ripple reach new all-time highs while Bitcoin stagnates

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It’s another green day in the world of cryptocurrencies, with all of the ten largest coins rising significantly in value in the last 24 hours. However, this time it’s not Bitcoin that’s leading the charge. 

Yes, Bitcoin’s price rose to $14,043 — a 4.99% increase in the last 24 hours — bringing the most popular cryptocurrency’s market cap to $235.6 billion. But it’s still a long way from Bitcoin’s all time high of $19,962 in December. 

But all of the other major cryptocoins rose far more than Bitcoin. Ripple, the second-largest cryptocurrency by market cap, rose 11.48% to a new record of $2.47. Ethereum, which is in third place, rose 16.97%, to $889.77 — another all-time high. And Stellar, which is currently in eighth place by market cap, grew a whopping 36.03%, which brought its price to a record high of $665. 

All in all, the market cap of the entire cryptospace is currently at a record $654.2 billion, an impressive feat considering Bitcoin has lost thirty percent of its value in the last couple of weeks. 

There’s no significant news to which we can attribute this recent growth. Ripple, which had recently overtaken Ethereum as the second-largest cryptocoin, has been growing like a weed for a while now without any major developments. As for Ethereum, it likely benefitted from the launch of a test network for Casper, a significant upgrade for Ethereum which is currently in alpha stage. 

While it historically wasn’t very smart to bet against Bitcoin, it looks like it’s time for all the other cryptocurrencies to shine. Bitcoin dominance as measured by CoinMarketCap — the percentage of Bitcoin’s market cap compared to the market cap of all other cryptocoins — is at a historic low of 36%.

It’s possible that the hoards of investors who recently entered the crypto space (popular exchange Coinbase has grown its user base by millions in the last couple of months) are now diversifying into coins that aren’t Bitcoin. It’s also possible that Bitcoin’s largely stagnant development — in contrast to the extremely busy roadmaps from most of its competitors — is driving investors away. On the flip side, it’s not unimaginable that Bitcoin is just taking a little break before it explodes again.

Read more: http://mashable.com/2018/01/02/ripple-ethereum-records/

Ethereum takes cue from Bitcoin, starts growing like crazy

Image: Wit Olszewski/shutterstock

Ethereum, the second largest cryptocurrency by market cap (behind Bitcoin), is currently trading at $707, a 20% increase in the last 24 hours. 

This is a new record for Ethereum, which has kept pace with Bitcoin for the better part of the year but started falling behind sometime in the summer. Bitcoin’s price grew tremendously in the second part of the year. One bitcoin is currently worth $17,176. 

Ethereum’s market capitalization, according to CoinMarketCap, is currently $66.5 billion. 

Besides being a blockchain-based cryptocurrency, Ethereum has fairly little to do with Bitcoin. While Bitcoin is primarily a payment system, Ethereum is a platform for decentralized apps running on its blockchain. 

Ethereum’s platform ushered in a completely new breed of startups that raised funds via initial coin offering or ICO events. Participants exchange Ethereum for new digital tokens created on the Ethereum blockchain. ICOs raised more than $1.24 billion in the third quarter of 2017, according to CoinDesk

Most recently, Ethereum has been in the news due to a popular game called CryptoKitties, which lets users collect and trade digital kittens stored on Ethereum’s blockchain. 

Looking at price alone, Ethereum’s growth has been even more impressive than Bitcoin’s this year. The cryptocurrency was trading for about $8.3 in January; its current price represents a 8,500% increase. 

Ethereum might be rising due to recent comments by SEC chairman Jay Clayton, who published a statement on Monday warning about the dangers of ICOs, which are largely unregulated. He also said that some digital tokens traded in ICOs aren’t securities and do not fall under SEC’s jurisdiction. 

Numerous other cryptocurrencies continue yesterday’s rally, most notably, the banking-oriented Ripple, which grew by 73% in the last 24 hours and now has a market cap of $18 billion. 

Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH, as well as a swiftly rising number of digital kittens.

Read more: http://mashable.com/2017/12/13/ethereum-700/

Bitcoin hit a new record high over Thanksgiving weekend

The cost of one bitcoin passed $9,000.
Image: ALEXANDER DEMIANCHUK/GETTY images

Bitcoin is getting more detailed and better to $10,000.

The cryptocurrency struck a record high of $9,033 per bitcoin early Sunday early morning. The cost increased progressively over the weekend and went beyond $9,000 at around 6:40 a.m. UTC (1:40 a.m. ET), inning accordance with CoinDesk’s Bitcoin Price Index . It now has a market cap of more than $150 billion.

Another digital currency ethereum likewise struck an all-time high of $485.18 on Saturday however has actually considering that dropped to $461.79 on Sunday, inning accordance with CoinMarketCap.

Bitcoin had actually been on an extraordinary run in the latter half of 2017. It was valued at $1,000 at the start of the year and is now closer to reaching the $10,000 mark as we inch towards to 2018. Bitcoin’s worth went beyond $5,000 and $6,000 in October and after that increased over $7,000 and $8,000 in November.

Price per one bitcoin

That stated, it’s prematurely to inform when the rate of Bitcoin will reach that $10,000 turning point due to the fact that the marketplaces act crazily and might deal with a rate correction, as The Merkle kept in mind .

Bitcoin was enhanced by financier interest around Thanksgiving and Black Friday shopping, a digital properties expert recommended to CNBC .

Indeed, Coinbase, the biggest bitcoin exchange in the United States, included around 100,000 accounts in between Wednesday and Friday today to reach an overall of 13.1 million. Coinbase had 4.9 million users this time in 2015, inning accordance with CNBC.

Read more: http://mashable.com/2017/11/26/bitcoin-9000-close-to-10000-price/

Uh oh, a major Bitcoin upgrade just got postponed indefinitely

No 2x today.
Image: Alexander Demianchuk/getty

It ain’t simple being Bitcoin. The cryptocurrency has actually gone through numerous forks in the course of the in 2015 while at the same time escalating in worth and was on course for possibly another fork set to happen in mid-November. It’s that tail end which has actually faced a quite severe speed bump.

Known as Segwit2x , the strategy was to both double the Bitcoin block size to 2MB and to move some deal information off the blockchain . To numerous in the Bitcoin neighborhood, the relocation was questionable. Questionable, in truth, that the backers of the strategy revealed in a November 8 e-mail they would be backing down.

“Although we highly think in the requirement for a bigger blocksize, there is something we
think is a lot more crucial: keeping the neighborhood together,” the e-mail from Mike Belshe, CEO of the bitcoin wallet software application BitGo, checks out. “Unfortunately, it is clear that we have actually not developed enough agreement for a tidy blocksize upgrade at this time. Advancing the existing course might divide the neighborhood and be a problem to Bitcoin’ s development. This was never ever the objective of Segwit2x.”

The e-mail was signed by other kept in mind stars worldwide of Bitcoin, consisting of Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith and Erik Voorhees.

So exactly what does this mean for Bitcoin? In the short-term, it indicates the instant possibility of a tough fork disappears. In the long term? Will the block size permanently stay at 1MB — restricting deals and increasing charges in addition to it? That’s uncertain, however Belshe hopes this isn’t really the last we’ve become aware of doubling the block size.

“As costs increase on the blockchain, our company believe it will ultimately end up being apparent that on-chain capability boosts are essential,” he included. “When that occurs, we hope the neighborhood will come together and discover a service, potentially with a blocksize boost.”

The statement comes as the rate of Bitcoin passed $7,700 and appeared to be on its method to $8,000. It was just recently, on November 2, that Bitcoin struck $7,000 in worth for the very first time.

Read more: http://mashable.com/2017/11/08/bitcoin-segwit2x-called-off/

Bitcoin transaction fees are crazy high right now. Here’s what you can do about it.

A Bitcoin logo design is seen inside a sushi dining establishment in main Tokyo, Japan. That sushi may cost you a substantial amount in deal costs.
Image: FRANCK ROBICHON/EPA/REX/ Shutterstock

Four dollars. That’s just how much it ‘d cost me to send out 0.01 bitcoins, or about $42, from one Bitcoin address to another today.

And this is in fact rather inexpensive compared with a couple of days back, when deal charges were even greater, making Bitcoin hardly functional for microtransactions. And low-cost deals, specifically for percentages of BTC, are allegedly among Bitcoin’s greatest benefits.

The deal costs are raving due to a number of elements. One is the size of the block in Bitcoin’s blockchain, which is restricting the variety of deals that can go through at any offered time. Bitcoin’s network is powered by business, individuals and miners who utilize an incredible quantity of calculating power to produce brand-new bitcoins. When there’s a lot of deals to procedure– which presently takes place really typically– miners will focus on deals that pay a greater charge.

The circumstance enhanced with the current SegWit upgrade of the Bitcoin software application, however it will take a while– months or weeks– prior to users begin seeing advantages of SegWit.

Another factor is Bitcoin Cash, a contending cryptocurrency that divided off from Bitcoin on August 1. Considering that the 2 cryptocurrencies are comparable, it’s basic for miners to change from mining Bitcoin to Bitcoin Cash. And for factors described here , often it’s more successful to mine Bitcoin Cash than Bitcoin. Whenever miners begin changing to Bitcoin Cash, Bitcoin’s network ends up being slower, and deal charges increase; we’ve seen this swing take place a few times prior to and it’s most likely to keep taking place for a while.

This is bad for Bitcoin. A couple of dollars (and even a couple of lots dollars) per deal isn’t really an offer breaker for financiers, however for somebody who wishes to utilize Bitcoin as payment– which is type of the point of Bitcoin in the very first location– that’s far too costly.

The excellent news is that the costs are most likely to obtain much better. The problem is that it will not take place soon. SegWit has actually paved the method for an additional upgrade called the Lightning Network , which ought to significantly minimize costs, however the software application, or even its requirements, aren’t all set. And in November, Bitcoin is anticipated to be updated once again with the SegWit2x proposition, which ought to increase the block size in Bitcoin’s blockchain from 1MB to 2MB. This will decrease pressure on the network and make deal costs lower, however changing to SegWit2x needs a so-called tough fork, indicating that Bitcoin is when again splitting into 2, which might bring brand-new difficulty.

Yes, you can pay smaller sized costs and get away with it

Luckily, Bitcoin users aren’t entirely without alternatives today. Something you can do is wait up until the network is less stretched (during the night, throughout the weekend), which is when deal costs will decrease.

You can likewise inspect this service to see which deal costs are presently the most financial for you. At the time of this writing, a Bitcoin cost of 200 satoshis per byte will suffice for your deal to go through in about 30 minutes (Bitcoin deal charges are revealed in satoshis, which is one hundred millionth of a Bitcoin, per byte size of the deal, which is usually a little over 200 bytes). Want that cost estimators aren’t ideal; an alternative service that reveals you the presently optimum cost is this one .

Paying a cost that’s too expensive is unneeded, as it does not bring any fringe benefit. Paying too little a cost indicates your deal will not go through quick, or at all.

This details will not assist you much if you utilize a wallet that does not let you alter deal charges, so possibly it’s time to change to a various wallet. A mobile Bitcoin wallet called Mycelium provides numerous possibilities for Bitcoin deal costs: low-priority, financial, typical concern and high concern. Your deal may take longer to go through however it will be more affordable if you pick the low-priority charge. Alternatively, a high concern deal will nearly undoubtedly go through rapidly however it will be pricey. Now, Mycelium is using me 339 satoshi/byte as a financial deal charge rate, which is still a little pricey, however much better than the “typical” cost of 419 satoshi/byte.

This is too costly.

Image: Stan Schroeder/Mashable

For much more control, you might experiment with the Electrum wallet , which lets you set any charge for your deals, though you have to allow the choice by hand in the settings. Beware, though: If you select too little a charge, your deal may permanently remain in Bitcoin’s stockpile. Coinomi is another (mobile-only) wallet which lets you personalize your deal costs.

There are other things you might do to make deal costs lower, though it needs a somewhat greater level of understanding. If you’ve gotten a great deal of little deals to a Bitcoin address, then send out bitcoins from that address, the deal will be bigger (in bytes) and hence more pricey. If you make it possible for the “Coins” tab in the desktop variation of Electrum you can decrease the variety of inputs for your deal, which will make it more affordable.

If you’re moving bitcoins from an exchange and not a wallet, you likely will not have the ability to set a charge, and numerous exchanges have extremely high charges established. Exchanges mainly do not do that since they’re wicked; they do it due to the fact that they wish to ensure the deal went through, otherwise they’ll have to handle assistance tickets. At this point there’s little you can do about this besides discover an exchange that is a bit more affordable with this regard than others. Want that, on top of deal charges, exchanges will likely charge their own extra charges, so you must concentrate on the overall expenses.

To summarize: Bitcoin costs are presently really pricey, however this will likely improve in a couple of months. Even right now, by picking the ideal wallet and making sure you utilize the optimum cost, you’ll do a lot much better than simply paying whichever charge you’re used.

The author of this text want to thank Luka Zubovi for his corrections and ideas.

Disclosure: The author of this text owns, or has actually just recently owned, a variety of cryptocurrencies, consisting of BTC and ETH.

Read more: http://mashable.com/2017/08/28/bitcoin-transaction-fees/

This Vegas club lets you tip strippers with Bitcoin

Image: LegendsRoom

If you’ve accumulated a fortune in Bitcoin and have no idea ways to invest it, here’s a concept: Go to Las Vegas and misuse all of it on alcohol and lap dances.

Legends Room is a “gentleman’s club” that accepts Bitcoin, Ethereum, and its own cryptocoin LGD for all deals.

That implies you might go there on August 26 to view the boxing bout in between fighter Floyd Mayweather and MMA fighter Connor McGregor, and spend for whatever with bitcoins.

The fundamental experience remains in the primary space of the club, which is open to the general public and charges $150 (payable in crypto) to enjoy the battle. If you go with the members location, you have to own 5,000 LGD tokens (if you do not have them, you can lease them at the entryway). And if you do not actually appreciate this crypto service, you can spend for whatever in money and charge card.

The existing cost of the LGD token on Bittrex has to do with $2.15 per token, however you understand how it is with these unpredictable cryptocurrencies — costs might increase or down prior to the occasion. The token itself does not appear to have any technical benefits over comparable cryptocoins, however ownership webs you considerable discount rates on beverages and club services.

The lap dances are where it gets fascinating. Throughout the occasion, dancers will be using a tactically put momentary tattoo with a QR code. If you wish to tip a dancer, wave the phone over the tattoo, and voila, you’re doing Vegas, crypto-style.

If you’re still uncertain whether all this is too adult-only to bring your minor nephew along, bear in mind that the location will be bursting with pornography stars throughout the occasion, consisting of Jesse Jane and Tasha Reign.

Disclosure: The author of this text owns, or has actually just recently owned, a variety of cryptocurrencies, consisting of BTC and ETH.

Read more: http://mashable.com/2017/08/21/legends-room-strippers-bitcoin/

What is a BitCoin? Explained – Tech Tips

This introduction to bitcoin explains what is a crypto-currency and what exatly is a bitcoin? Also touched on are the other major currencies such as litecoin, feathercoin, and dogecoin.

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In this talk, Andreas examines the rise of “the blockchain” as an attempt by the banking status quo to dilute the disruptive potential of bitcoin by removing it’s most interesting features.