Seventh Continent is essentially a virtual Antarctica with a fully functioning economy with real estate, business ownership and partnerships with other citizens. It's free to get started with the Marks currency and, based entirely on your skills, the sky is the limit when transacting in Bitcoin.
So once big blocks happen what is bitcoin's business model for paying miners?
Eventually block subsidy is going away. And fees are supposed to take over. Right now fees are at 16.1249394BTC in the last 24 hours or about 3700 dollars. No where near enough to run the network. 20x that is $74,800 a day split between every single miner. Which is nothing compared to the 9 MILLION in block rewards. Is the idea that in the future the price of bitcoin must go up and be illegal to go down ever again? Because that math isn't working out to sustain the bitcoin network.
Just curious, do you think this would be a good business model? Personally, I am struggling due to the recent turn of events in bitcoin.. I had purchased quite a few around $700 (basically used my entire savings) STRONGLY believing they would go up.. Or atleast it was worth the investment in my mind. The past few months I have been taking about 1 out per week to manage life expenses. Once they fell sub $700 I was discouraged to sell and have been holding firm. It has caused my life to be somewhat of a struggle. I know I could sell them and be financially stable again, but would be eating a loss. So this brings me to my business model, what about a pawnshop for bitcoin. So you can basically take out a loan using bitcoin as collateral.. Then similar pawnshop rules apply (5% loan fee that increases with time). This would provide instant liquidity to anyone struggling, but not requiring them to quit the game completely. Also, this may be helpful for someone who is worried the market will go down. They are basically paying a fee for a buy back option that would allow them to sell for anything equal or greater than current value. Seems like a pretty good option to be available. Is this similar to shorting stocks? Is there a service like this already available? What would be the downside to this?
07-03 21:55 - 'I did this little toy to play with my new 3D printer, not to do business with it ... But since I now have the software and 3D models ready, I created an Etsy listing: / [link]' by /u/zener79 removed from /r/Bitcoin within 1-11min
''' I did this little toy to play with my new 3D printer, not to do business with it ... But since I now have the software and 3D models ready, I created an Etsy listing: [link]1 ''' Context Link Go1dfish undelete link unreddit undelete link Author: zener79 1: *ho**url.at*fqADF Unknown links are censored to prevent spreading illicit content.
The economics of Bitcoin, why there hasn't been a drop in hashrate, and Blockstream's business model
To me, it seems clear as day why BTC still continues to have a significantly higher hashrate than BCH. When it comes to the reward halvings, obviously BCH's hashrate dropped because it was less profitable to mine BCH when compared to BTC. One interesting thing is that the same didn't happen to BTC at the time. I think this can be explained for a few reasons:
The fee-market created by BTC makes it significantly more profitable for miners to continue mining BTC rather than BCH. This means that financially, miners have no incentive to switch to BCH because they won't get the extra revenue they get from high mining fees. As long as Blockstream can keep holding off the actual use of sidechains, BTC will continue to grow. Along with this, they are spreading the narrative that Bitcoin is digital gold, which will make other people see high fees as justified and reasonable.
As long as mining BTC is more profitable than mining BCH, the hashrate of BCH will continue to stagnate or even potentially fall. The fact that there is a dev tax implemented does not help this at all. Why would anyone mine BCH when 12.5% of their revenue is being taken away from them?
Eventually, when Blockstream decides to implement sidechains (and keep in mind that this will be planned very strategically at the most convenient time), miners will be incentivized to switch over. This could be after Blockstream manages to kill off BCH or any other SHA 256 coin. Their propaganda about BCH being a pump and dump coin has already been successful in making sure the community doesn't support BCH as much as they might if they knew the truth.
I'm no computer scientist, but this gives me a few ideas. I think we would all be better off if we took out the dev tax, replacing it with PURELY voluntary transaction fees. If we can voluntarily pay slightly more for a transaction, it would make more sense for miners to switch over to our network. Not only this, but I think we should voluntarily use our funds to help with development of BCH.
"The bitcoin [core] crowd is upset at me for stating facts. I warned everyone who was listening before the Black Thursday crash. Multiple times. Most were too busy looking at nonsensical models predicting how wealthy they would soon be. Go ahead, shoot the messenger."
The cashback business model generates revenue for the cashback provider—the weeMarketplace—in a number of ways. https://weemat.io https://wee.com #wee #cashback #blockchain #tokenization #bitcoin #shopping
Deryk Makgill: “Why should the Bitcoin Cash developer funds prioritize projects that ‘need’ money? That is totally backwards and reeks of government works programs and the DMV. You fund projects that have proven business models and past financial success.”
You Tube is now silencing Bitcoin. This as Governments begin to try and tax it to oblivion, which will fail. My friends, this is one more example why YouTube/Alphabet cannot be trusted with your business model.
If you want to build an online video service you must use Bitchute or other services or risk crushing censorship without cause or warning.
From a friend in Paypal, got this in an email today: Clarification on Bitcoin merchants using PayPal 6/10/2013 8:58 AM (-05:00) Impacted market: EMEA We’ve received a number of escalations regarding Bitcoin merchants using PayPal. Any merchant seeking to sell or buy Bitcoins with PayPal is operating as a financial exchange. Please be aware that Financial Exchange merchants are prohibited unless pre-approved by PayPal. This process involves getting VP approvals from both Risk and Compliance, and only licensed financial institutions are considered. Merchant contacts If we receive contacts on Bitcoin sales, instead of escalating further, kindly advise customers that they need to be licensed financial institutions to be considered for approval. However, there are some acceptable cases, as outlined below. Acceptable Bitcoin business models for PayPal Merchants with a business model that is related to Bitcoin but does not sell Bitcoins may be acceptable. For example: Merchants offering Bitcoin education packages Merchants selling computer hardware designed specifically for mining Bitcoins. In this case, kindly ensure that the merchant isn’t pre-selling and actually has the equipment ready to deliver. Please note – All Bitcoin-related e-commerce should be considered high risk.
2019 was a great year for Bitcoin as their market capitalization grew and at the same time Bitcoin analyst says BTC could reach $25,000 by the end of 2019. If you’re in the process of planning to create a new crypto coin or starting a cryptocurrency based business model, you might be wondering what the best way to make revenue is. These companies build and sell Bitcoin Nodes, Miners, and hardware wallets. Premium Software. E.x. MyNode. Any software worth its salt in the Bitcoin space is open source. However, there are ways to create a business model around open source software. Read: Open Source, Open for Business: Eric Raymond’s 9 Open Source Business Models Another viable bitcoin business one can start is to engage in bitcoin cloud mining. Bitcoin cloud mining is the process of mining bitcoins using a remote datacenter with shared processing power. Cloud mining is beneficial to individuals as it allows them to carry out their mining activities without having to manage the complex mining hardware. At that point, they are been working on a new model while the first model they designed was the one that was selling. There were some easier times, like when the first time Bitcoin hit a 1000 dollar mark. At that time it was easier for people who bought Bitcoin at a price of 50 cents, to by ATMs. The business model for Bitcoin includes how the company will acquire customers, generate revenue, and be sustainable. The probability of reaching profitability is in part, communicated by the quality of the management team. The revenue model of the company is important to most investors, as unless a platform has already been established, there
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