Top Facts about Bitcoin on its 11th Anniversary.

It’s 31 October 2019 and today marks exactly 11 years since the release of Bitcoin’s whitepaper by Satoshi Nakamoto. On this day in 2008 the first cryptocurrency was conceived and it created a monumental shift in the way we perceive the future of money and provided a revolutionary new direction for resisting censorship from the corrupt central banking system that has been ruling over our lives for over a century.

Indeed, censorship resistant ownership of one’s capital is a giant leap for anyone who’s ever been a victim of unfair seizure of their funds by the authorities and there are many an example of such abuses of power throughout the years across the world and even though most people today see Bitcoin and other cryptocurrencies mainly as means to become rich quick, the true essence of this new asset class lies in the fact that it provided a real opportunity to combat the dangers of  having one’s capital taken away from them.

I don’t want to undermine the fact that Bitcoin did create hundreds of millionaires throughout the past decade and continues to do so, nor do I try to oppose the concept of shifting power and capital from the centralised banking system back to the common folk. This was all very beneficial to everyone who was bright enough to enter this space in the early years and especially to those risk-takers who believed in the power of the digital currency from the early days when it was in its infancy and the rest of world was completely dismissive of it (myself included in those sceptics), so let’s take a moment and reflect on what we have achieved in the past 11 years.

Here are just a handful of examples of what Bitcoin managed to bring to the world and why this (still hugely volatile) digital currency is so important to the world and everyone who is involved in its network.

Blockchain-Bild

  • Blockchain – possibly the biggest and most widely recognised invention that Bitcoin brought to the world is the creation of a decentralised, independently shared and publicly accessible and verifiable record of data that is immutable and resistant to censorship or control from any one entity.
    There have been many nay-sayers and sceptics of Bitcoin but even the hardest opposition to crypto, such as the central banking system, admits that Blockchain technology is the future and recognise it as one of the greatest innovations of our time.

 

  • The first Bitcoin transaction in the real world was for 2 pizzas on May 22 2009 which became known as Bitcoin Pizza Day. The guy who wanted to be known as the first person to buy something with Bitcoin paid 10 000 bitcoins for the pizzas which today comes to about 93 million US dollars.

 

  • Bitcoin has created more millionaires than any other asset in the past decade. The exact number is not recorded but it’s a fact that there are even a handful of billionaires created by investments in Bitcoin.

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  • Over the past decade we managed to mine more than 85% of the total bitcoin supply which is capped at 21 million coins. Today the circulating supply amounts to 18,022,262 coins produced by 601,794 blocks according to coinmarketcap.

 

  • Bitcoin’s network consists of thousands of computers worldwide is more powerful than the world’s top 5 supercomputers combined. It has never been hacked and is fully decentralised.

 

  • It took 4 years for bitcoin to go from $0 to $1000 and less than 1 year to jump from $1000 to $20 000 (back in 2017). Since then the price has corrected and we experienced a downtrend in 2018 but things picked up again and the $20k price tag is once again within reach in the foreseeable future.

 

  • Bitcoin’s produce is halved every 4 years and although we have already mined the majority of it, it will take us another 100+ years until we mine the last satoshi.

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  • In its decade of existence bitcoin has outperformed every other stock or asset in the world in terms of price appreciation, surpassing even the value of Gold and Silver and bringing in much higher Return of Investment to its hodlers.

 

  • The term HODL was born by a simple mistake in a drunken post on a Bitcoin forum and it became a worldwide acronym used by everyone, even mainstream media.

 

  • The smallest spendable denomination of Bitcoin is called a “satoshi” in reference to its creator and this month the term was added to the Oxford English Dictionary. The term “bitcoin” was already added to the dictionary back in 2014 and was defined as: “a digital currency in which transactions can be performed without the need for a central bank.”

 

  • Bitcoin gave birth to a whole new industry called cryptocurrencies and today there are more than 2000 of them, many of which are trying to add new use cases and go beyond the monetary use of bitcoin.

 

  • There are currently 9255 public nodes running on the Bitcoin network. (at the time of writing, but this number is changing daily.)

 

  • The price of Bitcoin is by far the biggest catalyst in its popularity amongst the retail investor and to date it’s price appreciation comes to a whopping +292,635.11% since its conception.

 

If you liked this article, consider following this blog and leave a comment below. I would like to hear your thoughts on Bitcoin and whether you are a fan or a sceptic.
I also run a YouTube channel where I post various content related to cryptocurrencies and blockchain technology.


🚩My book “Crypto Jargon A to Z” – the most comprehensive dictionary to date is out now.

Over 700 definitions of terms, acronyms and all the crypto slang people use in their market analysis, blogs and media articles related to blockchain technology and cryptocurrencies.
Grab your copy today: www.ojjordan.com/cryptojargon

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🏆Exchanges I use for trading crypto:

Binance
Kucoin 
Bittrex
Bitfinex
HitBtc 

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Where I buy crypto:

BitPanda (Europe)
Cex (Global)
Coinmama (Global)
Changelly (good for instant coins swaps)(Global)
Payeer (Europe, Asia, alternative to paypal)
Bitfinex 
Coinbase (USA, EU, Africa) Get $10 worth of Bitcoin on your first $100 crypto purchase with this link: http://bit.do/coinbase_join

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Where I store my crypto

  • Ledger Nano – the best hardware wallet (offline storage)
  • Trezor – also one of the best wallets out there.
  • Exodus – desktop wallet
  • Coinomi – mobile phone wallet with instant coin swap feature
  • Crypto.com – mobile wallet and exchange

Ledger Nano X - The secure hardware wallet

 

How to reset and restore Ledger Nano X to use as a previous device – step by step guide

You can actually sync the new device to be associated with the data from the old device and use it alongside with it. This way you can keep your Nano S at home or elsewhere safe while using the Nano X on the go and with you at all times since it has the wireless sync feature which makes it ideal for everyday usage…..

Ledger Nano S - The secure hardware wallet

In my previous tutorial I showed you how to set up the Ledger Nano X as a new device but many of us already have the previous model (the Ledger Nano S) and we have a lot of coins already stored there, so this is a very useful tutorial for those who, like me, want to replace the nano S with this new device and use it instead. You can actually sync the new device to be associated with the data from the old device and use it alongside with it. This way you can keep your Nano S at home or elsewhere safe while using the Nano X on the go and with you at all times since it has the wireless sync feature which makes it ideal for everyday usage.

This is my thorough video with step by step guidance on what you need to do.

I start with resetting the device because I had it set up as a new device, but if you just bought yours and have not set it up at all, then skip the first 7 minutes of the video and go straight to the part where I start the restore process.

🔑 Get your own Ledger Nano X (or S) here: http://bit.do/ledgerNano

Here’s my previous tutorial in case you are new to the Ledger Nano devices and want to set it up as a new device: https://crypto-corner.com/2019/06/05/ledger-nano-x-tutorial/

Ledger Nano S - The secure hardware wallet

Alternatives to Shapeshift for Instant Coin Swaps

We just learned today that Shapeshift – the most commonly used service for quick and easy “coin swaps” is imposing a registration (and accompanied KYC process) which was immediately met with criticism and opposition among the crypto-twitterverse.

In short, ShapeShift’s CEO Erik Voorhees admits, that the compulsory registration is a painful but measure, dictated by the unclear regulatory landscape. He explains how this goes in hand with user requests for more information about their activity while giving them “benefits” for loyalty.

With these news came the need for this article and I offer you a few alternatives here. I listed the few I have used and I found some new ones. A common issue amongst users seems to be the fees they pay. Each of these services is run by a company and they will all have fees so frankly, that is not something you can avoid when working with a coin swap service. It’s the ease of use they provide and they will charge you for it. The fees are usually included in the price tag so when you are making a transaction, you don’t have add-on fees. Make sure that you are happy with the amounts you see on your screen and double check everything before making a transaction, that’s a must. Otherwise the way to use them is intuitive and simple. Watch my video below to see what I mean.

LIST OF COIN-SWAP SERVICES WITHOUT THE NEED TO REGISTER:

Changelly

This Prague-based crypto exchange is possibly the most trusted and established competitor to Shapeshift. It offers dozens of alt coins including Ethereum, Litecoin, Bcash, Ripple, Doge, Dash, Monero and Neo.  Its services are being utilized by Coinomi Wallet and others.
An email address is required to use the service, but for those who desire their privacy, encrypted email providers like Protonmail are always an option.
Overall feedback is okay, it’s the biggest number of reviews from the list below and the main issue of most customers are the fees as expected. From my experience the fees are pretty much the industry standard. The other services aren’t any cheaper. The fee depends on the coin you exchange and it’s included in the total price. Despite not having the best rating, it sits on the first place in my list as I’ve used it the most.


Changenow

A more recent addition to the coin-swap industry is Changenow. Somewhat similar to Changelly, but it seems to be asking less questions, and has been operating smoothly since late last year. A wide range of popular alts is covered, as well as a handful of less popular and even obscure ones. Generally there is no need to register to use the platform or to supply an email address. However there are some exceptions when larger amounts are being detected : Changenow “uses an automated risk management system to check all transactions. Each case will be considered individually. According to European AML directives, KYC regulations and platform requirements, we will ask you to provide you a scan of your ID document valid in your country and additional information of the funds origin.” Customer feedback is mixed, again the most complaints are about fees.


Coinswitch

With over 300 cryptocurrencies covered, Coinswitch makes a great first impression. However, the service uses existing platforms including Changelly, Shapeshift, Kucoin and Hitbtc. Not enough information regarding the developers yet and their twitter seems to be weak (only about 2000 followers as of Sep.18) so it’s still in need of marketing and growing a customer base but on the plus side, their YouTube channel offers quick & simple tutorials to ease the user’s experience. Overall feedback is excellent but not too many reviews (yet). One of the services it uses is Changer which brings me to my next listing.


Changer

With over 10 different deposit options, a decent coin selection and third party services like AdvCash, Payeer and Perfect Money, this service is seems to offer something rather versatile. Users can pay with their money from these online banks without the need of using a credit or debit card and the switch between currencies is also easy. However, there are some scam claims from customers and their overall feedback isn’t great. They boast about being in service for 9 years (they added crpyto in the last year) and by the look of it, they do it the old-fashioned way – no twitter, facebook or telegram (what is telegram? lol), just a good old-fashioned website with an email helpdesk…


Flyp.me

A brand new service that offers 26 cryptocurrencies including BTC, Dash, and LTC, as well as a handful of extremely obscure altcoins. Right now there is no registration needed, not even an email address. Nor does it use web trackers or third-party analytics which is good. However, as young as this service is, there is zero feedback (as of Sep.18) on its performance. Their twitter seems to be doing well (over 3K followers as of Sep.18).


SimpleSwap

Another completely new service that has little presence on social media and has yet to find its audience. There’s no information about their dev team on their website and their Reddit is vague, no comments there, a tiny following on facebook (125 likes to date) and twitter… however, their feedback seems very positive… perhaps too positive in fact. Well, I am not so sure about this one, if you have experience, please share it.


Godex

And lastly I will mention this obscure service provider. By obscure I mean, there are no details as who is behind the service, how it’s operating or where it is based even. Their “about us” section is about the service, not the team and point of contact is an email. Yet again there’s excellent feedback this time coming from just 33 people (to date). Perhaps their fanclub? I would not recommend it at this point but do share any experiences if you can.

KuCoin Exchange – The Basics

Kucoin is one of the many new cryptocurrency exchanges available for those in search of a modern and secure platform to trade on.

It was launched in September 2017 by a group who had already built strong reputations at industry giants, such as GF Securities, Ant Financial, Youling, Jianbang Communication and iBOX PAY.

Kucoin has a very clean and modern layout throughout the website and this extends to the markets overview screen where you can see the available trading pairs and can choose to trade alt coins against BTC, ETH, KCS, NEO & USDT. There isn’t a fiat currency option currently, so users have to use the USDT (Tether) which is the digital token supposedly backed by USD (yet to be proved, so I don’t take long term trades in USDT). Soon it is expected that a fiat trading pair will be supported, possibly USD for a start with more to follow.

Kucoin is among the most straightforward exchanges to use, even for those who are new to the cryptocurrency world and is famous for being an early adopter of new, low-cap coins. This is one of a few reasons to love Kucoin. Another huge incentive is the relatively high withdrawal allowance without KYC verification (you can withdraw up to 2BTC per day without having to send your ID/Passport scans or other sensitive data).

Once you log into your Kucoin account, you can adjust the various settings, keep track of your assets, or manage your rewards, such as invitation bonuses and Kucoin bonuses. As a member of the exchange you are also provided with an affiliate link to share with friends and help grow their community. For this you are rewarded on a commission-based system and paid in KCS (their native coin).

Staking KCS (buy+hold) would also provide you with dividends (daily) from the fees collected by the company on their members trading activities. These are shared across all members in accordance with their staked KCS amounts. In my previous post I discussed the details of the staking benefits.

I highly recommend that you enable 2 factor authentication (2FA) to add an extra layer of security to your account. Any emails and confirmations for deposits or your register email should also be kept for your own record. Customer service is quite responsive on their web-based online chat or via a support ticket.

Opening an account is easy and intuitive, use this link to register for free : https://www.kucoin.com/#/?r=7H327K

Kucoin social media accounts:  Twitter |  Telegram

Here is my complete Beginners Guide Tutorial to get you started :

And lastly, here is my top choice for safe storage of my top cryptocurrencies, check out the Ledger Nano S, it can store a large selection of coins, it is a definite MUST HAVE.Ledger Nano S - The secure hardware wallet

 

Callisto Airdrop coming to ETC holders

As you may have noticed, the price of Ethereum Classic has been on the rise and there’s one good reason for it.

Take a look at my last Crypto Corner webisode to find out why…

 

Check out the news from my “Crypto Corner Daily” http://bit.ly/2HaC1c7

Further reading and references:

📄Callisto reddit https://www.reddit.com/r/EthereumClassic/comments/7pp7dp/ethereum_commonwealth_development_update_11_jan
📄https://www.reddit.com/r/EthereumClassic/comments/7qs9ui/callisto_network_announcement/
📄Callisto article https://cryptovest.com/news/etc-callisto-airdrop-announcement-leads-to-price-surge-and-stability/
📄https://www.forbes.com/sites/panosmourdoukoutas/2018/02/04/where-will-bitcoin-ethereum-ripple-and-other-cryptocurrencies-be-twenty-years-from-now/2/#34e0bc132d58
📄U-cash https://u.cash/about
📄If you have questions about Callisto please post them here only.

 

If you are new to Bitcoin, you will find it hard to get your hands on some at first so here is a list of the most popular websites to buy Bitcoin.

🚩 Get $10 worth of Bitcoin on your first $100 purchase from Coinbase with this link:
http://bit.ly/2meNAEf

🚩 Mining Bitcoin : I use the services of Genesis Mining since 2016. Use the code 28Xwzx and get a discount every time you purchase hashpower to mine Bitcoin or Ethereum, Monero, Lite, Dash and more at:
https://www.genesis-mining.com/
🚩🚩Discount Code – 28Xwzx (apply at the point of purchase)

💎Popular websites to buy Bitcoin (and other) in Europe/US:
•BitPanda (BTC, ETH, DASH) http://bit.ly/2qIwK2N
•Coinbase (BTC, ETH, LITE) http://bit.ly/2meNAEf
•Luno (BTC) https://www.luno.com
•Local Bitcoins – localbitcoins.com
•Payza : http://bit.ly/2uHQl7Q
•Payeer : http://bit.ly/2gcFD2H
•Kraken – https://www.kraken.com/

🏆 Popular Bitcoin Exchanges :

•Binance http://bit.ly/2AMfkXA
•Kucoin http://bit.ly/2Fq9FKc
•Changely http://bit.ly/2wB4g1D
•Poloniex https://poloniex.com

💎Useful wallets with internal exchange features:

►Coinomi : https://coinomi.com (android mobile app)
►Exodus : https://www.exodus.io/ (desktop app)
►Jaxx : https://jaxx.io/ (chrome ext; desktop app; mobile app)
►Coinpayments : http://bit.ly/2gkpJ3Z

💻Find me on social media:

►Facebook : https://goo.gl/7fRuDH
►Twitter: https://twitter.com/busyjordy

🔑__A MUST HAVE__Cold Storage – Safest Wallet solution
Ledger Nano S (multi-coins secure) : http://bit.ly/2i5T2Nh
also, check out :
How to set up Ledger Nano S Wallet : https://youtu.be/c8e63ZNqdLQ