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What can you do with 1 Bitcoin?

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what you can buy with 1 bitcoin

Everywhere you go, people have been talking more and more about Bitcoins and what they are doing with it. Anyone looking to invest in Bitcoins or looking to see the options at what to do with their Bitcoins has several questions. What does one do with them? Where can I really use them? Our usual hard currency can be used absolutely everywhere to buy almost everything meant to be sold. But, when it comes to spending Bitcoins and looking at what one can really do with them, people have always been on the lookout to explore options in this domain. Following are a few things that have the equivalent value to 1 Bitcoin and are curated for almost every type of person out there – a traveler, a practical investor, a foodie or a movie fanatic.

 

77400 hours on Netflix

Your 1 unit of Bitcoin is worth a grand. Always been a fan of sitcoms and movie marathons but have always faced problems because of your pricey Netflix subscriptions? But if you are the owner of even 1 Bitcoin, you need to worry anymore. If you are not looking for any practical investments and wish to splurge a little, Netflix is one of your options. Netflix’s premium service is valued at almost $11.99 per month. Making a few calculations, it is clear that you can use 1 Bitcoin to buy 8 years and 11 months of Netflix subscription. This accounts for movie marathons on the go. If you wish to buy such a heavy subscription of Netflix we consider it obvious that you would be watching movies and shows on it day in and day out. This accounts for almost 77400 hours of unlimited Netflix goodness. Go crazy!

 

Go flying around the world

If you are not the type to spend hours and hours watching seasons of shows or watching movie marathons, we bet you would absolutely love to travel. Just one Bitcoin can satisfy the traveler in you and give new meaning to your sense of wanderlust. In this case, you can use your 1 Bitcoin to buy a lot of flying mileage and go on a world travel tour and treat yourself. Take along your family or friends or your significant other and hike through European mountains or take a stroll through the lanes of Rome. This is one of the most popular options exploited by Bitcoin investors all over the world. There have been several reports of people making a small fortune of their Bitcoin investments, dumping their regular mundane 9 to 5 jobs, and going on a world tour surviving solely on their Bitcoins.

 

Buy Digital currencies

If you are the type to always make wise decisions money wise and wish to secure your Bitcoins investment wise this one is the best option for you. To be more practical, 1 Bitcoin can be used to buy 13 Ethereum (ETH), which is one of the most stable digital currencies in the digital currency market right now. Another steadily growing digital currency Litecoin (LTC), 57 LTC can be brought using 1 Bitcoin. Similarly, 38 Monero and 6.5 Bitcoin Cash can be bought using 1 Bitcoin.

 

Cheesy Pizzas for 10 years

Who does not love pizzas? Not loving them is almost as equal to sinning. And magically, one of the first places where people had started spending their Bitcoins was pizzerias. 1 Bitcoin has the power to buy you some real good quantity of pizzas. You can buy yourself a lot of pizzas using just 1 Bitcoin at several pizzerias around the world since many of them have started accepting Bitcoins as a legal method of payment.

 

An ounce of Gold

Bitcoin has been dubbed as the future gold. Just like people have been buying and hoarding gold in their houses since time eternity, economists and investors have been claiming that Bitcoins would have a very similar fate too. Accordingly, 1 Bitcoin actually does surpass the value of one ounce of gold and is thus more valuable than one ounce of gold. If you wish to keep your Bitcoin as a gold like commodity, you could go ahead with this option. Use your Bitcoin as a hedge. Although there is no physical equivalent commodity for Bitcoin, it is still making its place into gold’s niche as an investment.

 

Hoverboards anyone?

This option is to satisfy the child in you. Ever looked at those self balancing scooters and wished that you could own one too? Because they are just so cool and fun to sue? If you wish to go crazy and levitate yourself to work or your nearby grocery store to buy veggies, you can buy almost four hoverboards using only one Bitcoin. Buy them and use them to have a gala time moving around town using your brand new hoverboard.

 

Gift cards

Always been the one who is very lazy to buy presents for your loved ones? Always see yourself making last minute holiday gift purchases because you cannot decide what to gift someone? Ever tried gift cards? You can use one Bitcoin to buy attractive gift cards and give them as presents to your family and friends. This gives you a wide range of possibilities on where you can buy gift cards from since several stores and online shopping sites have started selling gift cards in exchange for Bitcoins.

 

One might think that using Bitcoins for purchases does not have several options but that must not deter you from investing in Bitcoins. The above given options are just a few of the many more wide range of options of what to do with your Bitcoins.

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Alert: JP Morgan Coin: A threat to Bitcoin and XRP?

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The JP Morgan Coin is a centralized permissioned censorable blockchain based liquidity tool. People are saying that it should not be considered a cryptocurrency.

Jp Morgan, the bank run by Jamie Dimon is launching its own cryptocurrency. JP Morgan has $2.6 trillion in assets, $100 billion annual revenue, it moves more than $5 trillion in wholesale payments every single day and a quarter million employees. It is used by the investment banking crowd, asset management crowd, private banking, private wealth management, and the treasury & security services division. This tells us exactly for whom the JP Morgan Coin is designed for. These are the organizations that are going to be using it. The JPM Coin is a centralized permissioned censorable blockchain based liquidity tool. Many people are even saying that it should not be considered to be a cryptocurrency and it is just a bank coin.

 

The JP Morgan Coin:

The JP Morgan Coin is designed to be a stablecoin. They will be starting off with the USD and will be expanding to other key currencies over time. So it will be a global currency within their permission network. It will be providing real-time gross settlements rather than waiting for days for the payments to get cleared. The network participants can transfer tokenized fiat instantly, constantly and with full finality 24X7 which is a major improvement to how the things work currently. The previous model apart from bringing slow was also more prone to fraud and exposed to the old central bank failure and required multiple intermediaries across the interbank network.

The main use cases for the JP Morgan Coin will be international payments for sizeable corporate clients circumventing SWIFT and circumventing XRP. JP Morgan Coin may also be used for securities transactions. JP Morgan has previously tested a debt issuance on the blockchain and the token will allow institutional investors to buy debt issuance. Corporations could also use the JP Morgan treasury in order to take the place of their dollar holdings in their subsidiaries all over the world which will open more ways for the big corporate clients in order to move money back and forth.

The JP Morgan Coin will be on the quorum blockchain which is a permissioned version of Ethereum which JP Morgan has been using for some time. The quorum blockchain has already seen institutional use cases. Financial institutions can trust that only authorized parties can join their private ethereum network and that the transactions will be confidential. So the JP Morgan Coin is probably for a very small group of elites.

 

The History of JP Morgan:

There are dozens of fines that JP Morgan pays yearly all around the world for doing basically the same kind of things.

  • JP Morgan was fined $65 million for trying to vague the benchmark rate.
  • They were fined $1.6 million for failing to meet anti-money laundering and counter-terrorist financing laws in Hong Kong.
  • Citigroup and JP Morgan both had to pay a combined total of $182.5 million after being accused of violating anti-trust laws. Citigroup and JP Morgan allegedly the European Interbank offered rate.
  • JP Mogan was $135 million for improper handling of American Depositary Receipts.

In most of these cases, they are not actually found guilty of anything and they just settle. They don’t end up breaking any laws cause they just pay the huge amount of fine they are asked to pay.

After the announcement of the JP Morgan Coin, JP Morgan stocks have gone up because of JP Morgan’s clients, this is a welcome sign of innovation.

 

JP Morgan Coin vs XRP:

It seems that some banks want their own coin and not XRP which is the supposed to be the banker’s coin. They really don’t want XRP for one reason or the other. Although banks would not want to use the JP Morgan Coin as such they might just have their own coins in future such as Bank of America Coin or Bank of China Coin etc. But we have an interesting situation when it comes down to exchanging value between these banks because XRP is essentially a public ledger vs the JP Morgan Coin which is private. XRP has a permissionless ledger vs JP Morgan Coin has a permission ledger. JP Morgan controls the JP Morgan Coin but they do not control the XRP ledger and remember that the banks like to have control and maybe the other banks are also going to think like JP Morgan but there is still a lot of hope for XRP. JP Morgan Coin may not see very much interoperability between banks, therefore, they might need some kind of bridge and that bridge could end up being XRP.

 

Implications for Bitcoin:

There are not many implications for bitcoin at all. Most of the bitcoin enthusiasts have zero interest in things like the JP Morgan Coin. Bitcoin has amazing and unique value propositions and this is not a threat in any way to bitcoin. JP Morgan cannot control bitcoin it is really hard to manipulate the price of bitcoin whereas in case of JP Morgan Coin, they have direct control over it. The current rumors say that JP Morgan is going to use Bakkt for their clients who want to purchase, invest and hold bitcoin. So the JP Morgan Coin doesn’t have threat on bitcoin. Bitcoin is always superior in every way.

 

What are your thoughts on the JP Morgan Coin? Tell us in the comments section below.

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10 facts that prove that Craig Wright is not the real Satoshi Nakamoto

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A lot of people in the past has tried to claim that they are Satoshi. Let's discuss 10 reasons why Craig Wright is not the real Satoshi Nakamoto.

Everyone is aware of the impact that bitcoin has marked on today’s world. However, huge the success bitcoin gained in the financial market, more is the mystery about the inventor of bitcoin, Satoshi Nakamoto. Satoshi Nakamoto created bitcoin in 2008 and made it an open source in the year 2009. But Satoshi disappeared in 2010. No one knows how to salute Satoshi, whether he or she or they!

A lot of people in the past has tried to claim that they are Satoshi, however, all the claims have been proved and till date, no one has the identity of Satoshi. In this article, we will discuss 10 reasons why Craig Wright is not the real Satoshi Nakamoto.

 

1. Craig Wright has not proven the ownership of the private keys of Satoshi. Although he tried to make the non-technical journalists fool by presenting the verification scripts, even any average student using cmd (command line) tools can find out the deception in the verification script that he was trying to show as a proof of ownership of Satoshi’s private keys.

 

2. Jimmy Song, a famous Bitcoin developer and one of the popular person on Youtube for crypto space recently had few harsh words for the Craigh claims for Satoshi. Jimmy said that he believes that Wright holds zero credibility to be Satoshi and no one should listen to his false claims. He made fun of Wright by saying that Craig Wright is just like a fat kid who falsely claims that have a pretty girlfriend.

 

3. Even Vitalik Buterin, a famous personality in crypto space denied the opinions of Craig to be Satoshi. In one of his interviews, he said that if he really was Satoshi, he could have proved by a simple private key but he presented a complex and bogus proof to the public to prove that he was Satoshi. He said that he believes that all the claims by Craig are false.

 

4. Even if Craig was Satoshi, why a person would show the world that he owns million of bitcoin in the cryptographic way of proof so that anyone can easily steal that billion worthy digital coins? I mean just for the sake of proving the identity, why would someone invite the hackers to steal all the bitcoin? This seems completely irrelevant.

 

5. Craig in his process to prove himself tried to fool all by using two similar words ‘signature’ and ‘signiture’. In his script, at one place he defined as ‘signature’ and while running the script, he used the word ‘signiture’. Anyone can understand this bogus proof easily just by having a careful look on the script that he portrayed.

 

6. John McAfee, a famous personality in computer programming and McAfee group, publicly denied the claims of Craig. He said the definitely, Craig is not the real Satoshi Nakamoto. He further added that he knew who the true Satoshi is. He has known him from the past. As per him, Satoshi is neither a committee nor the Craig Wright. Satoshi is a single and very intelligent individual.

 

7. There is no special event for Craig to prove that he is the real Satoshi Nakamoto. If he was the real Satoshi, he could have presented him in the public in the past when the bitcoin was on the peak. Also, when asked about the same in an interview, Craig Wright has no proper answer to it. Why would a person hide his identity when his creation was ruling the world and all of a sudden he would reveal his identity having no special event or reason? This is really not acceptable of Craig’s claims.

 

8. In one of the papers published by real Satoshi, he mentioned about some age of twenties. If this is taken as the age of Satoshi at that time then, this makes an incompatible age difference between Craig and the real Satoshi. Craig has his year of birth as 1970 and the paper published was in 2009-2010. So, if this assumption of the word twenty and age in a single line to be talking about Satoshi’s age is assumed true, then for sure Craig is not Satoshi.

 

9. Craig has stopped claiming himself as Satoshi Nakamoto these days after a lot of people cam publicly and thrashed the claims made by Craig. In a recent interview when asked about a question that is he the real Satoshi, he refused to answer directly. He has already been titled as a ‘faketoshi’! Why a person would refuse to accept his own identity even if some people of a society are not believing him? It is very difficult to digest.

 

10. The same day, when Craig Wright published his fake public cryptographic proof to claim as the real Satoshi and met Gavin Andresen, one news came that Anderson’s commit access to the Bitcoin Core was removed and the core team was concerned that it was probably hacked. This also gives the sign that Craig’s proof was not so much true and maybe someone on his behalf tried to hack bitcoin core accesses to steal some data and help Craig to claim.

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Craig Wright Exposed by WikiLeaks

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WikiLeaks posted on twitter about Craig Wright, the self-proclaimed Satoshi Nakamoto, disclosing his fake and altered blog post from 2008.

WikiLeaks posted on twitter about Craig Wright, the self-proclaimed Satoshi Nakamoto, disclosing his fake and altered blog post from 2008. According to WikiLeaks, the post was forged by Craig Wright to claim that he is the inventor of bitcoin and has been working on cryptocurrencies since 2008.

WikiLeaks is an international non-profit organization that publishes secret information, news leaks, and classified media provided by anonymous sources. WikiLeaks was one of the first organizations to start accepting bitcoin after the American government had forced Mastercard and Visa to carry out transactions for the organization. According to WikiLeaks founder, Julian Assange, Wikileaks made 50,000% return on bitcoin that it has invested in 2010.

Tweet by WikiLeaks:

Craig Wright was exposed in a tweet by WikiLeaks yesterday which shows that the blog post which Craig Wright used to prove his identity as Satoshi Nakamoto, the creator of bitcoin is a forged blog post. WikiLeaks also stated that Craig Wright is a serial forger of documents and has been repeatedly caught.

Craig Wright Responds:

Craig Wright responded to the tweet by WikiLeaks stating WikiLeaks is a fake news site. He said that organizations such as WikiLeaks have freedom of speech. He also stated that a pseudo leak site such as WikiLeaks should not even exist.

Craig-Wright-SS

Craig-Wright-SS

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