The Minimum bitcoin must be greater than 0. Archived from the original on limit September To lower the costs, bitcoin miners have set up in places like Iceland where geothermal energy is cheap and account Arctic air is free. No referral links in submissions. How to review products on CryptoCompare? Ethereum Savings Contract 2 Year Large. Eventually, the reward will decrease to transaction, and the limit of 21 million bitcoins [e] will be reached c.
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Or a high cost of living and a lot of expenses its difficult. I won't see that money until retirement. Two lead software developers of bitcoin, Gavin Andresen [] and Mike Hearn, [] have warned that bubbles may occur. I just came across it but felt uneasy downloading it. Retrieved 21 April Storing bitcoins in a savings account is also much safer than leaving them on an exchange or in your regular wallet.
Archived from the original on 20 January After reading this thread, I'm definitely going to consider it. Want to add to the discussion? I like this setup idea actually. Retrieved 2 May Archived from the original on 18 September Besides other loan oriented services they also offer savings accounts.
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Although the service looks very nice, it is not much known about where the money for interest comes from, and that is why we suggest you stay cautious with this service. Unofficially, they are generating income by margin lending to bitcoin traders.
We added our funds, we get paid interest daily, and we also withdraw funds without any problem. Bitbank , another Chinese company, offers an on-line wallet that pays interest on your bitcoins on a daily basis. The company generates income by purchasing mining machines to mine BTC. They are linked to a major Chinese bitcoin online exchange CHBTC and they share all information about their business publicly. Please note that some users report trouble confirming their phone number, sometimes you have to contact their support to do that if you live outside of China.
They offer an bitcoin wallet with interest on your deposits. Any deposit earns some interest, but the real profit of 5. Income for interest comes from their mining activities, see here what they do. Although it looks risky at the first place, you have to keep in mind that the company has been in business since mining bitcoin and they launched their banking and wallet services in It is mining and investing platform that covers different services including interest bearing wallet.
Currently they offer 6. HalleyBTC is another Chinese company involved in bitcoin mining. As they say, the foundation for their highly profitable investment products are mining farms which are among the largest in China. Mining rigs run under very low electricity cost and highly efficient operation.
They also have an day fixed deposit option with 8. They are pretty new on the scene and they look risky. Since nothing much is known about them, here goes our standard advice: OXBTC is a cryptocurrency investment service platform which integrates cloud hashing power purchase, trading and bitcoin deposit investment products. Cryptocurrency enthusiasts can make bitcoin deposits to enjoy very high bitcoin ROI. Currently they offer 0. Bter is an exchange that offers daily variable interest on deposits of bitcoin and a wide range of altcoins by allowing your coins to be used by various Chinese mining companies to fund their operations.
Yearly interest rate stands at 4. Some sources claim that Bter has been hacked more than once in the past leading to the loss of customer funds. Anyone have experience with this yet? I understand how they'd be able tax from transferring to fiat - Most places that do it would require the forms be sent to the govt.
If you just buy something, though, how is that tracked? Is it on the user to self-report? Correct I don't think small purchases are really tracked. That's honestly not a problem with fiat, but you yourself. Whether you hold fiat or BTC, you need to have financial discipline. I disagree; it is a defect of fiat that it disappears slowly over time. Thus, it's logical to have more motivation to save bitcoin than fiat. This isn't just a lack of discipline; it's a lack of incentives.
That's because dollars just disappear over time, so there's no point in saving them. Bitcoins don't do that: It wasn't when I bought some, but it's value since then has really outstripped my savings account.
I'm in the same boat, the price has gone up so much it is now much larger than my savings. I did sale some recently to diversify: I have 3 bitcoin Have no desire to use them on purchases. Nothing personal but I am always baffled at how little people spend on bitcoin and think it's sufficient edit: At most hours, a few weeks of nine to five work.
That is a pretty minor investment for something you expect to retire on. It's not what you make, its what are able to save. If you got a family to support on a low wage job. Or a high cost of living and a lot of expenses its difficult. Usually there's some token of wealth people buy, instead of investing which could create actual wealth.
Some people don't do this and are still scraping by, I'm sure, but something tells me this sub doesn't have many of those. And what makes matters worse is we have a buy it now pay for it later culture.
In more ways than one. Investing in the future should be more common place. Why stop at 3? Gold has a store of wealth value above that of its relatively low alternative use value only because for most of recorded human history, until fairly recently, it was the preeminent global medium of exchange and people quite rightly believe that it has some non-trivial probability of becoming that again.
Even so, it's value is orders of magnitude lower than it would be if it were still the preeminent global medium of exchange. Oh, and medium of exchange is a term for an intermediate good, which itself is just a good which people mostly use for the purpose of trading for other goods ie they use it to buy things with, or they spend it. Very few make teeth out of gold, and fewer will in the future, because far better materials now exist for that purpose these days.
There's little evidence that non-monetary value is a good thing for a currency to possess. Do you want your currency to fluctuate based upon the demand for gold teeth? You need it spelled out more. Gold has value for holding because it has intrinsic value as a physical substance. So everyone the world could hold and the price might go up.
If everyone holds bitcoin, it has no function, and the price would drop. Miners would quit if there are no trx to verify. You don't want everyone to hold. Nothing has intrinsic value, since value is inherently subjective. What was the intrinsic value of petroleum in , and what did it have to do with the market price at that time. You are talking nonsense.
Expenditures do not cause upward pressure on the price, no way, no how. Price is a function of supply and demand. Supply is algorithmically determined in Bitcoin, so the only variable determinant of price is demand. If demand goes up, so does the price. Expenditures do not represent additional demand, so they do not determine price per coin. If everyone wanted Bitcoin more than they wanted anything else effectively infinite demand , no one would be spending it and the price would skyrocket.
Your hypothesis is trivially invalidated a priori. Demand doesn't just appear a priori out of the thin air. It has to come from somewhere for some reason, eh? Demand for a money is determined solely by its usefulness as a medium of exchange at its base and as a store of value at a secondary level which is dependent on that base. If it is not useful as a medium of exchange because no one spends it and if no one spends it merchants won't bother to accept it , then Bitcoin will be worth very little, if anything at all.
Interesting premise, and I don't necessarily disagree, but the main issue with your argument now is that "useful as a medium of exchange" and "spent a lot" are not synonymous. I could possess a token or unit of the most perfect money imaginable, one which can be transported risklessly and frictionlessly and is objectively superior to all alternatives in every monetary function, and if it yields me better returns than any other financial instrument or investment that I'm aware of, you can be sure that I would be in no rush to spend it.
We can imagine a universe where such a money exists, and is coveted fanatically by everyone everywhere i. Gresham's Law comes to mind. Naturally, spendability is a desirable feature of any monetary instrument. But it's not as simple as "The more it is spent or the more spendable it is, the more valuable it will be!
You are using theories derived from central bank and government controlled monetary systems to describe the behavior of money in a free monetary market where its production and behavior are quite different.
The standard observation of the relationship between the velocity of money and its value is largely governed by that fact the central banks typically seek to increase the velocity of money while simultaneously increasing the supply of it. And further, the two are related because the process of creating additional central bank money via debt expansion also typically increases the velocity. We should expect this relationship to be significantly different with money that is neither controlled by a central bank nor created by debt expansion.
Similarly, Gresham's Law is a function of mandated currencies in which market participants are forced to accept "bad money" by law. In free monetary markets, participants are free to refuse "bad money" and tend to do so very quickly, in which case good money drives out the bad. In a free market for currencies, your theoretical perfect intermediate good money would only yield "better" returns as a financial investment as direct function of the market expectations for its use as a very significant medium of exchange.
Should it fail to be broadly adopted as a medium of exchange spent market expectations would slacken and take its "better" returns along for the ride. We are, of course, describing the case with Bitcoin. It's returns are a function of market speculation that it will become a significant medium exchange. But in order for that to happen it needs substantially greater merchant adoption, and merchant's won't adopt it unless they can attract more customers by accepting it, which implies that people are spending it or at least would prefer to spend it.
I am not saying that in all cases "spent a lot" and "useful as a medium of exchange" are synonymous, nor even in most cases. Bitcoin, however, is a form of money seeking and needing widespread adoption and that adoption will rely to a significant extent on merchant acceptance of Bitcoin I wasn't "using theories derived from central bank No, that's not true, as I've explained twice now.
You can't just ignore everything I say and repeat your debunked thesis and expect that to suffice as a response. I have just explained how a money does not need to be spent a lot to have a high value in a very straightforward and so-far-not-addressed way.
I've tried to help you, but wilfull ignorance can't be remedied by a good teacher, unfortunately. I trust that most following the thread will be able to distinguish between actual reasoned argument and ill-considered platitudes with some ad hominem thrown in, even if you can't. I have no bank account, only a bit coin debit card. I am going to switch my pay over to bitwage soon and be completely outside the fiat system. I want a debit card I can use everywhere that is backed by bitcoin!
How do I set that up actually? You can use this wallet as a source of funds to buy bitcoin instantly. Your local currency wallet can also be instantly credited with any funds from selling bitcoin. You can find your wallet address from the Advanced menu by clicking on the drop-down arrow next to your name, located near the top right corner of any page. You'll be brought to a page that lets you send bitcoin or ether to any email or wallet address.
Incoming transactions show up in your account almost instantly within a few seconds but will show as 'Pending' for about 30 minutes until they are verified by the network. Transactions are considered complete once they have received 3 confirmations. Coinbase Account Limits Dec 11, For security, regulatory compliance, and fraud prevention, there are limits to how much digital currency can be bought and sold with your Coinbase account. These limits vary based on the payment method used, your account age, purchase history, and other factors.
Coinbase account limits are calculated automatically. Coinbase Support is unable to increase account limits at this time. How can I see my limits? You can view your limits and actions you can take to increase them on this page: To increase your weekly limits, you may need to complete several of the following steps which will be described on this page: We are unable to bypass this requirement.