Currently, based on 1 price per hash and 2 electrical efficiency the best Bitcoin miner bitcoin are:. Bitcoin markets are competitive, meaning bitcoin price of a bitcoin will rise or fall depending on supply and demand. This provides age smart way to value the currency and also creates min incentive for more people value mine. Such proofs are very hard to generate because min is no way to create them other than by trying billions of calculations per second. For age, bitcoins are completely impossible to counterfeit.
What if I receive a bitcoin when my computer is powered off? Ponzi schemes are designed to collapse at the expense of the last investors when there is not enough new participants. This is pretty similar to physical cash stored in a digital form. However, no one is in a position to predict what the future will be for Bitcoin. Stickers for various cryptocurrency-related companies plastered on a fridge in Gardner's home. Bitcoin uses the hashcash proof-of-work function. Investing time and resources on anything related to Bitcoin requires entrepreneurship.
Control is a power beyond ownership. The digital currency retraced some value its gains Sunday age hitting min peak. It is not possible to change the Bitcoin bitcoin that easily. Bitcoin is money, and money has always been used both for legal and illegal purposes. Therefore, all users and developers have a strong incentive to protect this consensus.
What is the minimum age a person must be to use money? Pacerier Is there a minimum age, in any country, for people to be legally using money? Never heard of that before. Could you please provide an example of such a draconian law? The Bitcoin protocol is like the money protocol, a law which restricts people access to it is draconian. JoePineda In Germany, children younger than 7 are legally incompetent i. However, they can act as messengers to declare the will of a legal guardian, i.
Minors are legally competent in limits: Contracts they enter are transitionally ineffective unless sanctioned by their guardian. The exception being pocket money which they may spend on anything they want but pets. There is no minimum age, my children have Bitcoins and have for years. Service by service should implement whatever safety or age restrictions they need.
I am not aware of any work done on this front, perhaps somebody else can enlighten. LateralFractal 3 Sign up or log in Sign up using Google. Sign up using Facebook. Sign up using Email and Password. There's no way to rule innocent men. The only power any government has is to crack down on criminals. Well, when there aren't enough criminals, one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws.
Who wants a nation of law-abiding citizens? What's there in that for anyone? But just pass the kinds of laws that can neither be observed nor enforced nor objectively interpreted - and you create a nation of lawbreakers - and then you cash in on guilt. Now that's the system, Mr. Rearden, that's the game, and once you understand it, you'll be much easier to deal with. As we put people in office whose sole jobs and job performance metric are to create legislation to make as many things or actions illegal as possible so as to generate revenue for the State.
I'm eventually going to live in a country that has a dozen laws and has enough industry and utility to keep the superpowers at bay as they cough, wheeze and collapse. This is kind of what I wanted to say, but I was too much in shock by OP's question.
I mean even if the government had forbidden something like this, you should probably do it anyway. I wouldn't want to live under such level of control, so I might as well enjoy my freedom or die trying. Almost everything about society encourages us to be obedient slaves.
It's been said that if we got rid of government schools, there would be a revolution within a decade. I see this all the time at our hackerspace, when something is proposed people's first thoughts aren't how to make it work, instead they ask "are we allowed to do this? Well, for every one that asks there's another one of us that has a pure "fuck the man" attitude.
I've been asking a similar question and it's not to do wit the fact that I have an automatic deference to bureaucracy. I just don't want to get arrested.
Look at the schools. You have to ask permission just to go to the bathroom and those who don't please authority get drugged into submission. In several countries you are not allowed to buy foreign currency, no matter what age. So this isn't too far fetched. Is it illegal for you to know a number? It can be illegal to know a number: I don't really have a solid point here. I was referencing the key from this.
I'm 14 and have 0. Bitcoin is not like bank accounts or paypal where you need to have certain age, bitcoin is for everyone. How did you manage to get that btc?
I'm around that age and can't find any way to buy btc without a bank acct. No one will take paypal which is my only way to send money online. You can see who sells btc without installing the app over here: I listed stuff on auction markets where people paid in BTC Bitmit at the time, there's others filling the gap now. And if they start mining with quantum computers millions upon millions times faster , then we're fucked. Let me be somewhat pedantic: Of course, public-key crypto would be broken, so we would no longer be able to safely reuse addresses or use unhardened HD wallets.
If they could break the crypto fast enough then they could just intercept transactions before they get into blocks and then flood the network with new transactions with the recovered keys.
Hopefully an efficient quantum safe public key system is added before that become practice but who knows what might already be practical to an advanced alien race. No it's not illegal to own money but be careful when using payment processors like coinbase as they do have age-restriction. When you own bitcoin, you don't own anything. You control a ledger balance by having exclusive knowledge of a private key.
If you can keep a private key safe, you can own bitcoin. Bitcoin is a technology protocol which is indifferent about your age, race, origin, and preferences. From a legal perspective, common law is that the same pretty much goes. If you are competent, you can own things. Depending on your country, Bitcoin may have different legal status I am not an expert, but you speak English so I'm going to assume you will have no issues whatsoever.
It's a matter of semantics. When we say we own things, it's implied that we control it. Nobody really owns anything in a certain philosophical sense, but as a civilization, we recognize bundles of rights to things and trade them.
As a matter of concept, Ownership vs Control with Bitcoin is a very different set of ideas than with other property. It's the difference between 'can' and 'may' -- can refers to ability and may refers to permission. I own a grill because people believe it is somebody's and not theirs. It sits on the patio of my house and no one has decided to go off with it.
People know it is my house because, if I follow rules, pay my taxes, the State will register the house to me and use the force of violence to enforce the deed of the house as mine. Except in some extreme cases of squatting Ownership is enforced by the State. It is a permission. You may own things. With Eminent Domain, the State can and may remove your property.
The State's duty to make it so only they can or may remove your property. When other people can and do, the State uses violence to enforce that they may not. With Bitcoin, you may own them but you also can control them. Control is a power beyond ownership. It is not a permission; it is an ability. With Bitcoin, using techniques like bip38 passphrases and brainwallets, the knowledge of a private key can be exclusively withheld by an individual.
Unless some asshole perfects mind reading technology and uses it violently to extract private knowledge, Bitcoin is controllable. Can you see how that is better than ownership? No one can steal your Bitcoin if you are wise! You were born with the freedom to issue your own money, but that idea was quickly stripped from you. You can be any age to have a bitcoin wallet, there are no requirements for entry.
The type of wallet depends on the system you are running. You can use a good web wallet on any system but they aren't always the most secure. Try Mycelium for android or Electrum for PC. Just keep in mind that if you don't control your own keys, what you "own" is debt, not bitcoins. So it would be wise to stay clear of online "account"s, regardless of age. My advice, as others is the following: You don't need permission for anything you can do with your life, except if you are using someone else property.
It is completely legal in the US, as far as I know. Legality always depends on where you live. No it's OK, just read off the payment address.. Bitcoin has no rules, that's what's so fun about it! A fugitive, a 16 year old, a single parent, a beggar, a CEO and the pizza deliverer all are equally free with bitcoin! I dunno, by the time you get over to the right-hand side of the equation, the value of BTC has already changed. There are no bitcoins to compare. There are transaction inputs and outputs, and they all have histories written in the block chain.
Most cash has traces of cocaine. Not an exact trail of everywhere it's been, but a good indication of one of the things it's been used for.
Being 16 years old, you're probably doing better than the majority of people on this sub who have 15 year old understanding of world. I am pretty sure you trolling this subreddit, and as such you doing an awesome job. That was my exact thought, he seems so generic and weird, but everyone's taking him seriously and giving him tips. Bitcoin doesn't care about age, race, sex, religion, sexual preference, blood type, political affiliation etc etc etc.
And you can't have any paper dollars either.
22 Feb A lot of people taking buying and selling Bitcoin for granted, simply because a large portion of the community is well above the age of But if the goal is to make Bitcoin more but more competition is never a bad thing. Also read: Bitcoin Fad Dies Down As People See The Value of Digital Currency. There is no minimum age, my children have Bitcoins and have for years. Service by service should implement whatever safety or age restrictions they need. I am not aware of any work done on this front, perhaps somebody else can enlighten. 35 minutes ago A "cacophony of bad news" has pushed bitcoin lower this month, said John Sarson, a managing partner at ETF Momentum Investing. South Korean regulations took effect this week barring anonymous cryptocurrency accounts and instituting a minimum age for trading. Facebook announced on Wednesday.