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Bitcoin & CryptoCoins for Kenya
tandich
#381 Posted : Friday, March 06, 2015 10:19:41 PM
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Joined: 5/6/2008
Posts: 199
How does one secure their Bitcoins from such and attack?
mic_mic
#382 Posted : Sunday, March 08, 2015 9:58:43 AM
Rank: Member


Joined: 12/30/2012
Posts: 545
Location: NBI
Healthy volumes of late. Daily chart from December 2013 till today



BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#383 Posted : Sunday, March 08, 2015 3:35:09 PM
Rank: Member


Joined: 12/30/2012
Posts: 545
Location: NBI
tandich wrote:
How does one secure their Bitcoins from such and attack?



Here's a plublic document

Check out part 3 'How to store bitcoins securely'


https://docs.google.com/...W8ntRxpuobocKI3MvfU/edit
BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#384 Posted : Monday, March 09, 2015 10:30:57 AM
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Joined: 12/30/2012
Posts: 545
Location: NBI


BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#385 Posted : Monday, March 09, 2015 4:19:38 PM
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Joined: 12/30/2012
Posts: 545
Location: NBI
BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
sl8r
#386 Posted : Wednesday, March 11, 2015 9:22:56 AM
Rank: New-farer


Joined: 5/20/2010
Posts: 69
when a currency is about to tank, use bitcoin to hedge it

http://qz.com/359679/80-...nd-out-of-chinese-yuan/
mic_mic
#387 Posted : Wednesday, March 11, 2015 10:02:29 AM
Rank: Member


Joined: 12/30/2012
Posts: 545
Location: NBI
tandich wrote:
How does one secure their Bitcoins from such and attack?



By safely storing what is called a private key. Every bitcoin wallet address such as 12GKDgxkG3WPMedAXQvbpgA7364v3HBxXa has a corresponding private key.
Think of a wallet address a a pad lock to a safe whose key is the private key.

By safely storing this private key, then Bitcoins can be securely held. One example, is having your private key on a physical piece of paper ie a paperr wallet.

Another way is to have multiple private keys that access a single wallet. This allows 3 people to have 3 different keys (OR 1 person having 3 different keys in separate storage locations) that are required simultaneously to access bitcoins held in a wallet. Also known as multi-signature wallets. in such a case, access to 1 of the keys is not enough to gain control of funds.
BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#388 Posted : Wednesday, March 11, 2015 7:21:08 PM
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Joined: 12/30/2012
Posts: 545
Location: NBI
1 Kenya Shilling = 0.000037 Bitcoin Google currency conversion calculator

BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#389 Posted : Wednesday, March 11, 2015 7:23:08 PM
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Joined: 12/30/2012
Posts: 545
Location: NBI
Closed above $300 on the 2 hourly charts. Highest bid, $303.98 Looking more likely to test this level again. Note the inverse candle hammer. That top was a rejection. 2nd attempt coming soon.


BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#390 Posted : Friday, March 13, 2015 1:53:18 PM
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Joined: 12/30/2012
Posts: 545
Location: NBI
Market failed to break $300 and broke down to $286

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mic_mic
#391 Posted : Friday, March 13, 2015 1:57:29 PM
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Joined: 12/30/2012
Posts: 545
Location: NBI
Exclusive: IBM looking at adopting bitcoin technology for major currencies

Reuters : http://www.reuters.com/a...bm-idUSKBN0M82KB20150312
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mic_mic
#392 Posted : Saturday, March 14, 2015 7:02:07 PM
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Joined: 12/30/2012
Posts: 545
Location: NBI
BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#393 Posted : Sunday, March 15, 2015 1:49:54 PM
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Joined: 12/30/2012
Posts: 545
Location: NBI
Market looking bearish and ripe for a reversal. Here is a possible play with targets at $220 - could go lower.
Slim chance of a rise up to $315
.

BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#394 Posted : Sunday, March 15, 2015 11:47:48 PM
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Joined: 12/30/2012
Posts: 545
Location: NBI
Bigger picture

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mic_mic
#395 Posted : Monday, March 16, 2015 12:53:52 AM
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Joined: 12/30/2012
Posts: 545
Location: NBI
State of Digital Currency Regulation


Singapore
The Inland Revenue Authority of Singapore announced in January 2014 that, for tax purposes, it would treat bitcoin like a product, incurring taxes when it is sold for cash or used to pay for goods or services. However, if bitcoin is bought and sold as part of a long-term investment plan, that profit would be considered capital gain, which is not taxed in Singapore.

A couple of months later, the Monetary Authority of Singapore (MAS) announced its plans to regulate certain types of digital currency operators in Singapore; specifically those at the boundaries between cryptocurrencies and sovereign currencies. For example, digital currency exchanges and bitcoin ATMs or vending machines will need to verify their customers’ identities and report suspicious transactions. The aim is to curb the use of digital currency for money laundering and other illicit activities. The MAS will not regulate the acceptance of bitcoin by businesses, calling participation in such transactions a commercial decision in which the Authority should not intervene.

Hong Kong
The juxtaposition of Hong Kong and China, with its porous shared financial border, has surely helped Hong Kong’s rise to prominence. Bitcoin activity in Hong Kong grew quickly after the People’s Bank of China placed restrictions on banks and other financial institutions on the mainland in their dealings with digital currency companies. This led to an influx of money and business from the mainland into Hong Kong businesses.

Interestingly, the Hong Kong government does not consider Bitcoin an electronic currency, and the Hong Kong Monetary Authority has stated it has no current plans to directly regulate Bitcoin companies. They may however choose to do so in the future, following the lead of the EU or US. Consumers and businesses are free to use Bitcoin as long as they pay relevant sales or personal taxes.
BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#396 Posted : Monday, March 16, 2015 1:32:33 AM
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Joined: 12/30/2012
Posts: 545
Location: NBI
Bitcoin: the new Gold standard

Video: https://www.youtube.com/...OSo&feature=youtu.be
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mic_mic
#397 Posted : Monday, March 16, 2015 1:32:13 PM
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Joined: 12/30/2012
Posts: 545
Location: NBI
Renewed hopes of breaking $300

BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#398 Posted : Monday, March 16, 2015 5:39:10 PM
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Joined: 12/30/2012
Posts: 545
Location: NBI
Bitcoins are issued through a process called mining. Mining is a process equivalent to mining gold in the real world.

Just like mining gold, it gets harder and harder to mine bitcoins ie the difficulty level increases over time. Less bitcoins are issued to miners over time.

Mining bitcoins uses computer power equivalent to mining gold which uses Caterpillars and human labor

Computing power is denominated in GH/s.

Anyone can purchase mining power from a cloud mining service and get the rewards for the work done by this amount of mining power

Currently, the price of 1 GH/s is 0.00075289 BTC = 20.42 KES

GH/s mining powers are tradable on an exchange just like other commodities. It's price fluctuates with supply and demand

Example of a GH/s price chart from https://cex.io/trade#GHS-BTC



BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#399 Posted : Monday, March 16, 2015 10:30:11 PM
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Joined: 12/30/2012
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Location: NBI
BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
mic_mic
#400 Posted : Monday, March 16, 2015 11:11:10 PM
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Joined: 12/30/2012
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BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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