Mar 30, · The guys behind Bitcoin Profit make money from taking a small percentage which is about 1% of their user’s profit. You will trade with your own money, the platform will provide you with signals to guide you. If you make a profit from the trade, the platform will take about 1% of your profit for providing you with their services/ Dec 07, · Bitcoin is not backed by a company's earnings, or the strength of a government and rule of law. There's also no interest or dividends. Why would anyone want or need to use bitcoin? Bitcoin . Nov 09, · Bitcoin Profit is a cryptocurrency trading software that uses market trends and signals to perform profitable trades by buying and selling cryptocurrency at the right time, with a win-rate estimated at 92%. The Bitcoin Profit trading system uses a multiplex method to detect market trends.
Does bitcoin make profitSo you're thinking about investing in bitcoin? Don't | Bitcoin | The Guardian
They relied on cryptography instead of a trusted central party. Commentators like to say that blockchain solves the Byzantine general problem. I have always been fascinated by the Byzantine Empire , which was actually the stub end of the Roman empire. By then, this stub of the old Rome was being run by the Greeks out of a town called Byzantine. We did this even though Emperor Constantine renamed the city itself after himself.
In other words, a group of people calling themselves Romans got named after a town they renamed Constantinople: the Byzantine Empire. People just did not want to admit that it was the Muslims that ended the Roman Empire.
They are determined to pretend it was white Germans. Before you email in to complain, yes Germanic tribes did seize what we now know as Italy, Spain and France. But for many centuries later, Byzantine would still occasionally control Rome.
The Byzantine Empire has a really harsh rep. They lost so they must be weaklings. However, think about the dates. They fought off a waves and waves of Arab and Turkish invaders for centuries. Their first big defeat to the Arabs was in The reputation should be the other way round.
If they were weak then Paris would probably have been renamed Pardad and Europe would be Islamic. Byzantium was the meat shield of Christendom for seven hundred years. People forget that there used to be more Christians on the other side of the Mediterranean than on the northern, white European side.
Islam ate the world of the 10 th century. It just happened that the next stubby end, the poor part of Christendom they did not eat, came to dominate the world of the 15 th century onward. Interestingly, the Byzantine general problem is also a clever rebrand. Three computer programmers Leslie Lamport, Robert Shostak and Marshall Pease had an algorithm to solve a systems failure issue.
You have a bunch of processes and some of them are faulty. Their algorithm sent lots of messages until it became clear who was using the tippex. The only things that they required were that the messages were unforgettable and that at least two thirds of the generals were loyal or that two thirds of the processes actually worked. They used generals and Byzantium to make their algo sound cool.
This definitely worked. Never forget the importance of marketing. Blockchain solved coming to a consensus as effectively as their algo, but in a far more elegant way. There are three things I feel obliged to explain. You already know that ledgers are databases. Society is built on these things, from your driving license , to your bank balance to your health records. Equally you know that the government controls the first, your bank holds your money and your hospital or HMO keeps tracks of the last one.
Blockchain opens the possibility of getting rid of your HMO, your bank and maybe even the government. All these three exist either to establish trust or to fulfill a contract. Blockchain happens to be pretty good at both of these. Is this gonna happen?
Are revolutions ever easy? Personally I suspect these institutions will change, but only a bit. The key problem with Blockchain smart contracts the rules written in programming code , is there has to be no mistakes right at the beginning.
If it is there at the beginning, then it is part of the contract. But others would certainly take issue with the many occasions when the details of a smart contract are not the same as the spirit of the contract. I mean have you ever bought a used car? Digital signatures are the cryptographic trick that underlies blockchain. If I give you two big prime numbers, you can tell me the multiplicative sum of the two.
One of the inputs you are multiplying or strictly speaking hashing is your private key, and the other one is the transaction you want to do. You hash them together and then show off to everybody the result and your public key. The clever thing about the public key is that other people can use your public key on your result and prove that the private key was used here.
They know that a specific identity or wallet was involved in this transaction. They can see your digital signature. Couple of things. Like its immutable. If everyone changes their mind, then the blockchain changes its mind. This is what you call mutable.
A mega hack might involve launching denial of service DoS attacks on all the big mining pools and then hiring all the capacity off of Amazon AWS to do half an hour of Bitcoin mining. This should be able to seize control of the Bitcoin blockchain from the miners that survive your DoS. Bitcoin is actually game theoretically secure. And maybe that is better. Imagine, if someone did this mega hack, what is Bitcoin worth? Maybe nothing, negating the value of all the money you spent on AWS to steal those Bitcoins.
Time is of course mentioned, but no, Nakamoto dropped the time stamp because whoever gets to stamp the time is guaranteed to be more trusted and more powerful than everyone else. In practice it got dropped. Satoshi Nakamoto did not come up with digital signatures. Look up Wikipedia if you want to know the many people involved in creating digital signatures. Nakamoto also did not invent the proof of work that underlies Bitcoin mining. That was Adam Back. He chained these blocks of info and made it totally public.
Yet a key reason the price of bitcoin keeps going up is, well, because it keeps going up. Small investors like yours truly have a fear of missing out on a chance to get rich quick. And when the value of your bitcoin doubles in a week, as it did for me, it's easy to think you're a genius. But you can get burned assuming it will keep skyrocketing.
Some investors have likened the bitcoin hype to the dot-com bubble. Others, like Dimon, have said it's even " worse " than the Dutch tulip mania from the s, considered one of the most famous bubbles ever. As Buffett put it back in , "the idea that [bitcoin] has some huge intrinsic value is just a joke in my view.
There's also no interest or dividends. Bitcoin serves as a new kind of currency for the digital era. It works across international borders and doesn't need to be backed by banks or governments. Or at least that was the promise when it was created in The surge and volatility of bitcoin this year may be great for those who invested early, but it undermines bitcoin's viability as a currency. Related: Bitcoin boom may be a disaster for the environment. Then again, if bitcoin crashes, at least I'll always have the socks.
Rather than a currency, bitcoin is being treated more like an asset, with the hope of reaping great returns in the future.
So is there anything truly valuable about bitcoin? Bitcoin is built on the blockchain , a public ledger containing all the transaction data from anyone who uses bitcoin.
Transactions are added to "blocks" or the links of code that make up the chain, and each transaction must be recorded on a block. Then the account manager called me and said i had to start trading again and the money would be freed again. Now a month later they took the remaining 80 dollar. Now i got a call from the manager again and she told me that i needed to invest another dollar to release the money which is mine. The money was kept by the capital market.
Which is nonsense. Apparently phone no. I am getting around 20 calls a day from different locations in Europe Switzerland, Sweden, Germany, etc. Problem is that in the background the same music is running. So must be re-routed calls from the same call center. Yep, I use a burner phone when I investigate these scams… After entering the phone number they blow off like crazy. Hopefully it dies down for you soon.
I was just surfing at random when suddenly I was directed to Profit Bitcoin and of course the initial temptation evolves. He did not convince me and because of Easter he is trying again tomorrow. In between, numerous calls from similar concerns. I sent them all back to USA before the epidemic is over.
Also, never a land address, neither an e mail, prior to paying. Beware well before. Hi Dino, thanks for your comment. Yep, the URL is always a giveaway but unfortunately, very few people actually pay attention to the URL shown in their browser. Hi Dale! Then he hung up, and good riddens! I have deposited funds into a Bitcoin Profit after hounding by email, My funds are still sitting in the Trading Room and I have had no support at all.
I have messaged them 5 times with no response. I think i have fallen for a crytocurrency scam. Called, clear save. I requested a withdrawal and he called back asking for me to download Anydesktop remote so he could find my coinbase address, and this was the only way he could complete my transaction.
No chance i said. Well thats exactly what he is…a thief!